A developer called Zooko Wilcox introduced Zcash in October 2016. Zooko was inspired by Bitcoin but wants to enhance more privacy to the transactions, and it is also an open-source code. This system allows users to receive and send funds anonymously. It works on zero-knowledge technology to gives the ultimate privacy to the users and their transactions. Two types of keys “spend key” and “view key” is provided by Zcash. The “view key” is used for the sharing or an audit of information without any revealing to the world. Zcash is the fork of Bitcoin but it is more private and faster than Bitcoin. The value of one Zcash is USD 76.94.
(Your capital is at risk)
Why Trade ZEC?
There are some important reasons why one should trade Zcash:
- Zcash is a decentralized blockchain that provides the privacy of transactions of users.
- Zcash uses zero-knowledge (zk-SNARKs) to verify transactions without tracing of user’s information
- Zcash’s framework is built on the base of Bitcoin and it is much similar to Bitcoin.
Advantages:
The advantages of ZEC are listed here:
- There are chances of emergence for new applications by using the method of evidence-free disclosure.
- To ensures the substitutability of cryptocurrency Zcash works without any binding of coins.
- Zcash has the feature of anonymous payments receiving and sending. There is a fixed supply of Zcash coins.
- Zcash is a decentralized cryptocurrency and it gives fungibility with the help of unlinking of coin shield.
Disadvantages:
The disadvantages of Zcash are listed below:
- It uses open-source code, so it is not possible to control any feature of Zcash by the company itself.
- Zcash can be mined only by CPU mining.
- Six members can grant the access to master key, due to this the chances of information leakage are present.
- To complete a transaction, it takes numerous calculations.
- As it is secret money there are some legislations on the currency and it is considered that the secret money can be used in illegal activities.
- There is a fixed number of maximum coin supply which can lead to deflationary problems.
- As it is the fork of Bitcoin due to which it has many competitors in the market which can decrease its value.
How to Trade ZEC?
Here we will discuss how to trade Zcash on different trading platforms:
IQ Option
- Open a trading account on the IQ option platform.
- Deposit funds in an account via Master cards, VISA, e-payments methods (WebMoney, Skrill, etc.), and many more.
- Select Zcash on the platform and invest the desired amount for trading
eToro
- Open a trading account on the eToro platform.
- Deposit funds in an account via Master cards, VISA, e-payments methods (WebMoney, Skrill, etc.), and many more.
- Select Zcash on the platform and invest the desired amount for trading
Plus500
- Open a trading account on the Plus500 platform.
- Deposit funds in an account via fiat money and cryptocurrency methods.
- Select Zcash on the platform and invest the desired amount for trading
(Your capital is at risk)
Where to buy it:
Zcash can be bought from the exchanges are listed below:
- Kraken
- Coinbase
- Binance
- CEX.IO
- Bittrex
