ZEC
Reputation Ratings

ZEC

Zcash 5-10 years
Website https://z.cash/
Browser
OTH RELPs
Github
White Paper
Avg Price
-1.11%
1D

$ 23.47 USD

$ 23.47 USD

Market Cap

$ 388.281 million USD

$ 388.281m USD

24h trading volume

$ 48.125 million USD

$ 48.125m USD

7d Vol

$ 312.946 million USD

$ 312.946m USD

Circulating supply

16.328 million ZEC

Related information

Issue Time

2016-10-28

Platform pertained to

--

Current price

$23.47USD

Market Cap

$388.281mUSD

Volume of Transaction

24h

$48.125mUSD

Circulating supply

16.328mZEC

Volume of Transaction

7d

$312.946mUSD

Change

24h

-1.11%

Number of Markets

359

Github Messages

More

Warehouse

Zcash

Github's IP Address

[Copy]

Codebase Size

26

Last Updated Time

2020-04-08 04:46:33

Language Involved

--

Agreement

--

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Current Rate0

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Historical Price

Introduction

Markets

3H

-1.02%

1D

-1.11%

1W

-1.65%

1M

+14.72%

1Y

-30.32%

All

-98.87%

Aspect Information
Short Name ZEC
Full Name Zcash
Founded Year 2016
Main Founders Zooko Wilcox-O'Hearn
Support Exchanges Binance, Coinbase, and Kraken etc.
Storage Wallet YWALLET, NIGHTHAWK, LEDGER, TREZOR, FLEXA, UNSTOPPABLE, ZINGO, EDGE WALLET

Overview of ZEC

Zcash, or ZEC, is a type of DeFi cryptocurrency that was founded in 2016 by a team led by Zooko Wilcox-O'Hearn. The ZEC token is widely supported by several exchanges including but not limited to Binance, Coinbase, and Kraken. Users also have multiple options for storing their ZEC in wallets, with popular choices being Trezor and Ledger. Zcash is known for offering privacy and transparency for its users, providing the option of “shielded” transactions, which allow for content to be encrypted using advanced cryptographic techniques.

To obtain more information, you can visit their website:https://z.cash/ and try to log in or register to use more services.

Overview of ZEC

Pros and Cons

Pros Cons
Advanced privacy features Limited adoption compared to other cryptos
Strong encryption for transactions Private transactions demand more computational power
High liquidity due to support from major exchanges Fewer partnerships than leading cryptos
Multiple storage wallet options

Pros of ZEC:

1. Advanced Privacy Features: One of the distinctive features of ZEC is the advanced privacy it offers for its users. It provides “shielded” transactions that enable it to protect the identities of the sender, receiver, and the amount involved in the transaction.

2. Strong Encryption for Transactions: In addition to privacy, ZEC employs robust cryptographic techniques to ensure the security of its transactions. With these enhanced security measures, it becomes exceedingly difficult for third parties to tamper with the transactions.

3. High Liquidity due to Support from Major Exchanges: ZEC is listed on several major cryptocurrency exchanges such as Binance and Bitfinex. This wide support ensures that ZEC maintains high liquidity, meaning that the users can easily buy or sell the token at any given time.

4. Multiple Storage Wallet Options: Users of ZEC have multiple choices when it comes to storing their tokens. Popular wallets like Trezor, Ledger, and YWALLET, all support ZEC tokens ensuring that the users have various safe options for custodying their ZEC tokens.

Cons of ZEC:

1. Limited Adoption compared to Other Cryptos: Despite its advanced features, ZEC has been slow to gain widespread adoption compared to other cryptocurrencies. This could limit its growth potential and market recognition.

2. Private Transactions Demand More Computational Power: The high level of privacy and encryption that ZEC offers comes at a cost. The private or “shielded” transactions require significantly more computational power to process than traditional transactions. This could lead to scalability issues as the network grows.

3. Fewer Partnerships than Leading Cryptos: ZEC has fewer strategic partnerships than some of the leading cryptocurrencies. This could limit its use cases and market penetration. The success of any crypto project largely depends on its partnerships and collaborations.

What Makes ZEC Unique?

ZEC, or Zcash, introduces notable innovation primarily in the form of its emphasis on privacy and confidentiality of transactions, which distinguishes it from many other cryptocurrencies. Unlike Bitcoin or Ethereum where transaction details are transparent and public on the blockchain, ZEC allows for “shielded” transactions. These transactions use a cryptographic method called zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) which shields the identities of the sender and receiver, and the transaction amount itself.

Moreover, ZEC gives users the choice to make transactions either transparent or shielded. This selective transparency creates a balance between the openness of public blockchains and the privacy of confidential transactions; users can choose to disclose specific transactions for reasons of compliance or audit while keeping others private.

Remember, however, that this approach also comes with its own challenges. Utilizing shielded transactions requires greater computational resources, which can affect speed and scalability. Additionally, the enhanced privacy can raise regulatory concerns, as it could potentially be exploited for unlawful activities.

Thus, while ZEC represents significant innovation in terms of transactional privacy and confidentiality, it also highlights the ongoing trade-offs and considerations in the wider field of crypto technology.

What Makes ZEC Unique?

Market & Price

Coin Airdrop

There have been two Zcash (ZEC) coin airdrops:

  • The Zcash Foundation airdrop: This airdrop occurred in September 2017 and distributed 20% of the total supply of ZEC to Bitcoin (BTC) holders. The airdrop was designed to reward early adopters of Bitcoin and to promote the adoption of ZEC.

  • The Namada airdrop: This airdrop occurred in April 2023 and distributed 20% of the total supply of Namada (NAM) to ZEC holders. The airdrop was designed to reward early adopters of ZEC and to promote the adoption of NAM.

Price

The circulating supply of Zcash (ZEC) is currently 16,328,269 ZEC. The total supply of ZEC is 21 million coins, with the remaining 4,671,731 ZEC locked in a smart contract and released gradually over time.

The circulating supply of ZEC has a direct impact on its price. In general, the lower the circulating supply, the higher the price of a cryptocurrency. This is because there are fewer tokens available to purchase, which drives up demand and price.

The price of ZEC has fluctuated significantly since its launch in 2016. It reached an all-time high of $3,195 in January 2018, but has since fallen to around $25 as of September 2023.

Market & Price

How Does ZEC Work?

Zcash is a cryptocurrency that offers privacy and security features that are not available in other cryptocurrencies, such as Bitcoin. Zcash uses a cryptographic technique called zero-knowledge proofs (ZKPs) to allow users to send and receive payments without revealing their identity or the amount of the transaction.

Zcash has two types of addresses: transparent and shielded. Transparent addresses are similar to Bitcoin addresses and can be used by anyone on the network to send or receive payments. Shielded addresses are intended for use between two parties where both parties want to keep their transaction private from other users on the network.

To send a shielded transaction, the sender must first generate a ZKP. This ZKP proves that the sender has the necessary funds to make the payment and that they are sending the funds to a valid shielded address. The sender then broadcasts the ZKP and the transaction to the network.

The network then verifies the ZKP and adds the transaction to the blockchain. Once the transaction is added to the blockchain, it is complete and the funds are transferred to the recipient.

Shielded transactions are encrypted and cannot be seen by anyone on the network, including miners and nodes. This makes Zcash a very private cryptocurrency.

Exchanges to Buy ZEC

1. Binance: Supports ZEC/BTC, ZEC/ETH, ZEC/USDT, ZEC/BUSD, and ZEC/USDC trading pairs.

Step 1 Create a Binance Account Create a free account on the Binance website or the app.
Step 2 Choose Payment Method Select how you want to buy ZEC - options include credit/debit cards, bank deposits, or third-party payments.
Step 3 Check Payment Details Review payment details and fees. Confirm your order within the specified time.
Step 4 Store or Use ZEC After purchase, store your ZEC in your Binance account or transfer it to a personal wallet.
Step 5 Explore trading or staking options for potential earnings

Buying Link: https://www.binance.com/en-NG/how-to-buy/zcash

2. Coinbase: Offers ZEC/USD, ZEC/BTC, ZEC/EUR, and ZEC/GBP pairs for trading.

Step 1 Sign Up on Coinbase Sign up or download the Coinbase app, prepare ID and proof of address. Verify ID, which may take some time.
Step 2 Add Payment Method Connect a bank account, debit card, or initiate a wire transfer to your Coinbase account as a payment method.
Step 3 Start a Trade On Coinbase.com, select Buy & Sell. On the app, tap the “+” Buy on the Home tab to begin the trade process.
Step 4 Select Zcash Choose Zcash from the list of available assets. On the app, search for “Zcash” and tap to open the purchase screen.
Step 5 Enter Purchase Amount Input the amount you want to spend in your local currency. The app will convert it to the equivalent amount of Zcash.
Step 6 Finalize Purchase Review your purchase details by tapping “Preview buy.” Confirm the transaction by clicking “Buy now” after ensuring everything is correct.

Buying Link: https://www.coinbase.com/how-to-buy/zcash

3. Kraken: Users can trade with ZEC/USD, ZEC/EUR, ZEC/BTC, ZEC/ETH, ZEC/USDT, and ZEC/AUD.

4. Sideshift: Sideshift lists ZEC/USD, ZEC/BTC, and ZEC/ETH trading pairs.

5. Mercado bitcoin: Mercado bitcoin supports ZEC/USDT, ZEC/BTC, ZEC/ETH, ZEC/HUSD pairs.

6. Bitfinex: On Bitfinex, users can choose from ZEC/USDT, ZEC/BTC and ZEC/ETH pairs.

7. CoinDCX: CoinDCXoffers ZEC/USD, ZEC/BTC, and ZEC/ETH for trading.

8. AIRTM: AIRTM lists ZEC/MXN, ZEC/BTC pairs.

9. Gemini: Users can trade with ZEC/USD, ZEC/BTC, ZEC/ETH, and other stablecoins like ZEC/DAI, ZEC/GUSD.

10. Changenow: Changenow allows users to convert many different cryptocurrencies directly into ZEC, making it very flexible.

Exchange availability and supported pairs can change, and the fees for each exchange may vary. Users should always check the specific details on the exchange's homepage to ensure current accuracy.

Exchanges to Buy ZEC

How to Store ZEC?

Various wallets offer solid support for ZEC (Zcash) storage, each offering unique features.

1. YWallet: It's a privacy oriented wallet and messenger for Ycash and Zcash. It is noted for its user-friendly interface, YWallet caters particularly to those new to cryptocurrencies or those who prefer a straightforward, intuitive layout for managing their digital assets.

2. Nighthawk: This wallet is recognized for its robust privacy features, keeping in line with Zcash's emphasis on privacy.

3. Ledger & Trezor: These hardware wallets take security to the next level. Ideal for long-term storage, they store ZEC offline, protecting your digital assets from online attacks and threats.

4. Flexa: A distinct feature of Flexa is its ability to facilitate instant payments, effectively converting ZEC to a spendable asset at a range of stores.

5. Unstoppable & Zingo: As non-custodial wallets, these options give you complete control over your private keys—a critical consideration for those who prize autonomy and direct control over their crypto assets.

6. Edge Wallet: Notably, this wallet provides the functionality to buy, sell, and trade ZEC directly within the app. This feature brings a unique level of convenience, particularly beneficial for active traders.

How to Store ZEC?

Is It Safe?

Zcash is a safe and secure cryptocurrency that offers a number of privacy-enhancing features.

It is based on the Bitcoin protocol, but it uses zero-knowledge proofs to protect the privacy of transactions. This means that it is impossible to track the sender or receiver of a Zcash transaction, or the amount of Zcash that was sent.

Zcash is also a decentralized cryptocurrency, which means that it is not controlled by any bank or government. This makes it more resistant to censorship and confiscation than traditional fiat currencies.

How to Earn ZEC?

There are several ways to earn ZEC, the native cryptocurrency of the Zcash blockchain. Here are some of the most common methods:

1. Mining: ZEC can be earned by mining blocks on the Zcash blockchain. This involves using specialized hardware and software to solve complex mathematical problems. Miners are rewarded with ZEC for each block they successfully mine.

2. Staking: ZEC can also be earned by staking it on the Zcash network. This involves locking up your ZEC for a certain period of time to help secure the network. Stakers are rewarded with newly minted ZEC for their contributions.

3. Participating in liquidity pools: ZEC can also be earned by providing liquidity to liquidity pools on decentralized exchanges (DEXs). This involves locking up your ZEC and other cryptocurrencies in a pool that is used to facilitate trades. Liquidity providers are rewarded with fees from traders.

4. Airdrops: ZEC has been airdropped in the past, and there is always a possibility that more airdrops will occur in the future. An airdrop is when a cryptocurrency is distributed for free to existing users of another cryptocurrency or platform.

5. Earn ZEC through affiliate programs: Some platforms offer ZEC rewards for referring new users. This can be a great way to earn ZEC if you have a large network of friends and followers.

6. Faucet rewards: There are a number of faucets that offer small amounts of ZEC for completing simple tasks, such as watching videos or completing surveys.

7. Blogging and content creation: You can also earn ZEC by creating content about Zcash, such as blog posts, videos, or social media posts. Some platforms will pay you in ZEC for your content.

8. Participating in bug bounties: Zcash has a bug bounty program that rewards researchers for finding and reporting security vulnerabilities. If you are a security researcher, you could earn ZEC by finding and reporting bugs in the Zcash code.

9. Working for Zcash companies: There are a number of companies that work on Zcash-related projects. You could earn ZEC by working for one of these companies.

10. Investing in Zcash: You can also earn ZEC by investing in Zcash. If the price of ZEC goes up, you will make a profit on your investment.

These are just a few of the ways to earn ZEC. There are many other opportunities available, so be sure to do your research and find the methods that are best for you.

Conclusion

ZEC, or Zcash, was founded in 2016 and is a cryptocurrency that emphasizes privacy and confidentiality of transactions. It offers the feature of “shielded” transactions, which allows for the encryption of transaction details using cryptographic techniques called zk-SNARKs. ZEC is supported by several major exchanges and can be stored in various types of wallets, from hardware wallets like Trezor and Ledger to software and web wallets.

Despite some of its distinct features, like strong privacy and encryption features, ZEC has faced challenges including limited adoption compared to other cryptocurrencies and potential regulatory setbacks due to its emphasis on transaction privacy.

As for its development prospects, the future of ZEC, similar to other cryptocurrencies, is highly dependent on a variety of factors including regulatory developments, technological advancements, market demand, and more broadly, the growth and stability of the crypto market as a whole.

In terms of making money or appreciation, it's worth noting that investing in any cryptocurrency, including ZEC, comes with significant risk along with potential return. Like other cryptocurrencies, ZEC's value can be highly volatile and influenced by various factors from regulatory news to market sentiment. Therefore, it's crucial for potential investors to conduct thorough research, diversify their investments, and fully understand their risk tolerance before entering the market.

In conclusion, while ZEC offers unique features centered around transactional privacy, each potential investor or user should carefully consider its merits and risks in light of their own specific circumstances and goals.

FAQs

Q: On which exchanges can I buy ZEC?

A: ZEC is available for purchase on several cryptocurrency exchanges, some of these include Binance, Coinbase, and Kraken.

Q: How can I store my ZEC tokens?

A: ZEC tokens can be stored in various forms of wallets like Trezor and Ledger,.

Q: Who is the typical buyer of ZEC?

A: Typical buyers of ZEC include privacy-focused users, tech enthusiasts, investors who want diversification in their portfolios, and high-risk traders.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

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10 ratings

Participate in evaluation
Dory724
Pioneering privacy coin. Solid technology, but adoption challenges and competition in the privacy sector.
2023-11-20 17:38
7
Scarletc
Zcash is a privacy-focused cryptocurrency that allows users to make private and anonymous transactions using zero-knowledge proofs.
2023-11-30 19:21
9
Windowlight
Zcash (ZEC) distinguishes itself in the cryptocurrency realm by prioritizing privacy through zero-knowledge proofs. Using zk-SNARKs, Zcash enables transactions with enhanced confidentiality. While privacy features are a strength, ZEC has faced scrutiny for being less widely adopted than some other cryptocurrencies. It remains a notable player in the privacy coin category, offering users an option for discreet transactions on the blockchain
2023-11-21 01:39
2
leofrost
It provides users with the option for shielded transactions, offering increased privacy. Keep in mind that while privacy features are robust, adoption and regulatory developments influence its overall standing in the cryptocurrency landscape
2023-11-20 22:24
3
FX1063839282
I love the new practices from Big Coin. The software's security is the heart of the evolution of cryptocurrency trading, for sure. Constantly improving!
2024-02-26 12:58
4
Sanfa Mansaray
大零币 is super innovative in terms of technology! Their security wallet approach alleviates any concerns about theft. Great job!
2024-01-03 10:46
6
Jenny8248
Zcash remains a significant player in the privacy coin niche, appealing to individuals seeking enhanced privacy and security within their transactions.
2023-11-20 20:04
5
FX1891604864
This is my first time using 大零币 and I was really surprised. It has a very intuitive, easy-to-use user interface. Furthermore, 大零币 always creates innovations in technology that hope to create a good future for users.
2023-11-10 07:22
9
hardwork
Zec (Zcash): Zcash provides me with the privacy I sometimes need. It's great for anonymous transactions.
2023-11-06 22:58
5
hardwork
ZEC (Zcash): Zcash provides me with the privacy I sometimes need. It's great for anonymous transactions and that’s the best thing ever for me
2023-11-06 21:46
7

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