Zcash (ZEC) is a decentralised, blockchain-based cryptocurrency that, as a privacy coin, focuses on data security and the anonymity of its users. Thus, Zcash aims to offer its users greater data security than Bitcoin.
So-called privacy coins (see also Verge or Monero) specialise in keeping the identity of buyers and sellers secret. As for Bitcoin, there is a fixed unit maximum of 21 million coins for Zcash. Zcash adheres to the open source principle; the code can be viewed in the Zcash github.
We at Kryptoszene.de have taken a close look at Zcash and now explain how best to buy the coin. You should pay attention to these aspects when buying:
Zcash is offered on several brokers and crypto exchanges. We have tested the best crypto exchanges for you and explain the easiest way to buy Zcash below. If you want to start trading Zcash, you first have to decide how you want to invest in Zcash. You have to decide whether you want to buy Zcash to hold it in a similar way to gold, for example, and sell it again at a later date for a profit – then you need an exchange. If, instead, you are looking for a strategic investment where, instead of buying a coin, you bet on its performance, crypto brokers are the better choice for you. We use the broker eToro when buying Zcash, as this broker offers both real cryptocurrencies and CFDs – Thus Etoro combines the advantages of brokers and crypto exchanges.
First we register with Etoro: To do this, we click on the link to register with eToro:In the form we enter username, email and password and accept the terms and conditions:We then receive a verification email in which we click on the confirmation link. Our account is now created.u003cimg style=width: 100px; src=https://goldreward.io/wp-content/uploads/2021/06/atm-2.png alt=u003e
In the second step we need to fund our account with money to buy our Zcash. To do this, we click on the Deposit money button at eToro: We then select the deposit amount and payment method and click on the Send button to deposit our money.u003cimg style=width: 100px; src=https://goldreward.io/wp-content/uploads/2021/06/savings.png alt=u003e
After the deposit, we can buy our Zcash. To do this, click on the search and enter Zcash. Then click on the Trade button: Now the purchase window opens, where you have the following options: 1. Buy or sell: In our case we have to click on Buy.2. Trade or order: Here we can choose whether we want to execute the trade immediately (trade) or delayed (order). Amount: The amount of how much Zcash we want to buy. Stop Loss and Take Profit: At which loss or profit our position should be sold automatically.5. Leverage: With which leverage we want to buy Zcash. With leverage X1 we buy real Zcash, with leverage X2 we buy leveraged Zcash CFDs. After we have configured the purchase options, we click on the Open Trade button to complete the purchase. We have now successfully bought Zcash.u003cimg style=width: 100px; src=https://goldreward.io/wp-content/uploads/2021/06/exchange-1.png alt=u003e
eToro offers almost all deposit methods:
|Buy Zcash with credit card|
|Buy Zcash with PayPal|
|Buy Zcash with SOFORT Bank Transfer|
|Buy Zcash with Rapid Transfer|
|Buy Zcash with Skrill|
|Buy Zcash with bank transfer|
|Buy Zcash with Neteller|
|Buy Zcash with UnionPay|
Before you invest in an altcoin, you should inform yourself well. Experienced investors pay attention to a variety of indicators: Is the whitepaper of a coin reliable? Is the business model convincing? Do the entrepreneurs have enough experience to run a company responsibly?
What partners does a currency have and how relevant are these partners from the point of view of the stated business model? Is the currency often in the news and if so, in what context?
These are all questions that can help you determine whether an investment is worthwhile or not.
The cryptocurrency Zcash is well established on the market, ranking 21st by market capitalisation at the beginning of February 2019 according to Coinmarketcap. This speaks for good distribution and a relatively high level of trust in the currency on the part of investors.
As a privacy coin, however, Zcash has a number of serious rivals. The cryptocurrency Monero, for example, is also a privacy coin. It is established as a means of payment on the darknet and therefore has a head start on Zcash.
If you want to invest in a privacy coin, you should take a look at Zcash’s competitors. In our review pieces, we introduced the privacy coins Monero and Dash for you.
If there should again be such an extreme Bitcoin gold rush as in the winter of 2017/2018, it is of course to be expected that especially the cryptocurrencies that are well placed in the ranking – like Zcash – will profit from it. However, there are currently no indicators that this will happen.
We compare the fees when buying Zcash through the following example:
With such assumptions, we now compare the fees of the largest Zcash providers:
|Deposit||free of charge||3,99%|
|Holding fees||free of charge||free of charge|
|Payment||5 USD||0.15 USD|
|Current price in USD||164,88$|
|Current price in EUR||135,75€|
|Total market value in USD||$1.838.426.467|
|Total market value in EUR||1.513.576.576 €|
|Price change within the last 24 hours.||+5,14%|
|Updated||17.02.2021 at 17:00|
Since the Zcash ICO 2016, there have already been some events in the price of Zcashm which we now show:
As a general rule, a wallet is always the safest place to keep your investments. If your coins and tokens are stored on an exchange instead, you may lose access to them – for example, if the exchange is hacked or unexpectedly goes bankrupt.
The use of a wallet is not necessarily more complicated than the handling of the common exchange platforms. A wallet is therefore recommended in any case.
However, the use of a wallet is not mandatory for trading with Zcash. If you are not afraid, you can simply hold your Zcash on the account of one of your crypto exchanges.
On Zcash’s company website, a number of compatible wallets are presented, you can find the list here. Even better is the big crypto wallet comparison by our crypto scene editors.
Incidentally, those who invest in Zcash CFDs with brokers instead of buying the cryptocurrency directly do not need a wallet to trade.
You can basically distinguish between two forms of investment in Zcash: Speculating on prices via CFD brokers such as our test winner and buying Zcash directly via a crypto exchange such as Binance.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/income-3.png alt= style=width: 100px;u003e
Buying Zcash with a credit card is possible on our recommended exchanges Binance and CEX.Our test winner in the area of crypto brokers also accepts credit card payments.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/cvv-1.png alt= style=width: 100px;u003e
As a rule, crypto exchanges do not offer the payment option Paypal. One exception is the CFD broker eToro, where you can speculate on the performance of Zcash.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/transfer.png alt= style=width: 100px;u003e
Options brokers only use cryptocurrencies as assets, while exchanges allow direct trading of the assets. So anyone who actually wants to buy Zcash will have to go via a crypto exchange.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/millionaire.png alt= style=width: 100px;u003e
That depends on whether Zcash holds its own against competitors like Monero, Verge or Dash in the long term and how the cryptocurrency market as a whole continues to develop.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/millionaire.png alt= style=width: 100px;u003e
Not necessarily. If you buy Zcash on Binance, for example, you can hold it there. However, we recommend a wallet to avoid unforeseen complications on the exchanges.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/wallet-1.png alt= style=width: 100px;u003e
Zcash is not based on the ERC-20 standard and is therefore not supported by Ether wallets.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/money.png alt= style=width: 100px;u003e