The cryptocurrency Zcash (ZEC) is a completely anonymous, open source decentralized coin that uses blockchain technology. Transactions are completely confidential – it is impossible to track information about the recipient and the sender. All of this is achieved through the use of a zero knowledge transaction proof protocol. Only the parties who took part in it know about the deal. You can only find out about the fact of a transaction on the network. However, Zcash supports multi-signature transactions. The cryptocurrency was developed by the Zerocoin Electric Coin Company. The blockchain network was launched on October 28, 2016. Founder and CEO of Zooko Wilcox. Sites: z.cash; zcashcommunity.com.
The emission of ZEC cryptocurrency is limited, in total 21 million Zcash coins will be mined and this process takes place when new blocks are created, on average it takes 150 seconds. 2.8 million crypto coins have already been mined. Market capitalization – $ 1.7 billion (December 20, 2018).
How to buy cryptocurrency ZCASH
Methods for buying and selling cryptocurrency Zcash (ZEC):
- Cryptocurrency exchanges. These are platforms where you can not only buy ZEC, but also sell cryptocurrency. Among the popular Russian-language platforms are: Binance, EXMO, Huobi, OKEx, Kuna and others. They are included in the list of recommended Zcash exchange platforms from the official developers. Exchanges provide a wallet for storing cryptocurrency. After installing a local wallet, coins from the exchange can be transferred to it and stored further if you do not plan to trade.
- Cryptocurrency exchangers. Quick and easy purchase of Zcash, no trading option. When you purchase, you will be transferred cryptocurrency to the address specified in the application. Examples of exchangers: Prostocash, Xchange, 60cek, Matbi, Kassa, Baksman, Platov, Nicechange, Ramon Cash. In them, you can easily buy Zcash for rubles from a Visa or Mastercard RUB card of any Russian bank; Yandex Money, Qiwi, Advcash, Payeer, Perfect Money; for another cryptocurrency: Bitcoin, Ethereum, Dash, Litecoin, etc. To make an exchange operation, select the currency you give and receive (Zcash), enter the wallet address, as well as other necessary information.
How to open a Zcash (ZEC) wallet
If on exchanges a wallet for Zcash is provided immediately, then to buy from exchangers, you need to install a local wallet or use online services to store coins. Remember to use complex passwords for security, enable two-factor authentication, and other ways to protect your wallet. The official wallet for ZEC only supports Linux installations. Therefore, for use with other devices, you need to use third-party products and services.
Developer recommended wallets for Zcash:
Online services – the ability to quickly create and conduct cryptocurrency transactions without downloading software:
- Holytransaction is an online wallet for cryptocurrencies: bitcoin, litecoin, zcash and others.
- Bitpie – program for IOS and Android
- Jaxx is a multicurrency wallet for storing cryptocurrency. Installation on computer, IOS and Android is available
- Cryptonator is a wallet for storing cryptocurrencies: Bitcoin, Dash, Ethereum, Litecoin, Monero, Ripple, Zcash.
Hardware wallets (paid):
Instructions for working with the JAXX wallet. Go to the jaxx website and download the program: there are versions for Android, Iphone, OS X, Windows, Linux, or use an online wallet for the Chrome browser. To save a backup copy of the wallet, go to “Tools” – “Backup Wallet” and save the seed (seed) – a set of 12 words in English. To save private (private) keys, go to “Tools” – “Display Private Keys” (each public key has its own private one). After installation, I recommend setting additional security settings – pin code in the Setting section:
If you need to add or remove cryptocurrencies, then go to the “Wallet” tab:
General view of the wallet for Zcash – Jaxx. At the top, you can select the desired cryptocurrency (Zec):
“Receive” – receiving coins (click Generate to see the address):
“Send” – send to another wallet address:
The Zec wallet address is located under the words “Your current zcash address” and starts with the letter “t” or “z”.
Article: how to buy bitcoins.
How to buy Zcash in the exchanger
We choose the direction of the exchange and see if there is enough reserve. For example, we buy Zcash for Sberbank rubles:
Reserve 137 ZEC – you cannot buy more than this amount. But, it is possible, upon request to the support service, to increase the reserves in the desired direction. By the way, always contact the online support chat of the cryptocurrency exchanger for advice and issues.
Next, you need to carefully enter the rest of the data: copy and paste the Zcash wallet address; if you buy from a card, then indicate 16 digits and information about its owner. After that, click “Start exchange” and follow the instructions from the exchange office.
After you transfer money to the specified account or wallet, click “I paid”. The representatives of the exchanger will check the payment and send the cryptocurrency to the Zcash address specified in the application.
Review: exchangers bitcoin for rubles.
Buy ZEC cryptocurrency on the exchange
You can trade and buy the Zcash (ZEC) cryptocurrency on the cryptocurrency exchange. A list of recommended sites is posted on the zcashcommunity website. It includes all major exchanges in terms of trading volume.
Among them is the popular cryptocurrency exchange in Russian – EXMO. On its site, you can buy Zcash and other cryptocurrencies: Bitcoin, Ethereum, Litecoin, etc.
To register, you need to provide a real e-mail and come up with a complex password. A letter will immediately be sent to the mail, which contains a link to confirm registration on the exchange website. Be sure to follow it.
In the “Wallet” section: you will see all the available accounts, both in fiat and cryptocurrency. The Zcash coin is designated ZEC.
It is not necessary to go through verification, you can immediately proceed to the exchange or trade. You will need it if you will use some payment systems: bank cards, transfers, neteller and in some other cases. In more detail, I recommend the Service Agreement and the Exmowiki section (at the bottom of the page).
To replenish your balance, use the options offered by the exchange. The most convenient option is the Exmo code. They can both replenish and withdraw money through online exchangers.
Within a few minutes you will receive a code by mail that you upload on the website of the exmo.me exchange in the “Wallet” section:
To instantly buy Zcash cryptocurrency at market value, go to “Exchange”:
To buy or sell cryptocurrency with placing orders, go to “Trades”:
- We choose ZEC and another currency. Pairs available: ZEC / RUB, ZEC / USD, ZEC / EUR, ZEC / BTC:
- Analyzing the chart and choosing a trade entry point
- Create an order: “by market” – to buy at the current rate
- We use a limit order for a pending buy at the value you specified. For example, 12 ZEC at a price of $ 600 – if the price goes down and reaches this mark, the buy order will be executed. I recommend setting more realistic values, otherwise you will have to cancel the order, and this is wasted time.
- After the purchase, the cryptocurrency can be sold at a higher price, thereby making money on the change in the exchange rate. To do this, you can place a limit order or sell at the market. Cryptocurrency trading is an opportunity to receive daily income on exchange rate fluctuations. The main thing is to find the point of entry and exit.