Where to Buy Zcash – Beginners Guide

Zcash (ZEC) is a privacy-focused coin that maintains the anonymity of transactions while supporting quick and low-cost global value transfer. The digital currency uses cryptographic technology to provide its users the ability to shield their transaction information.

Considering where to buy Zcash for anonymous transactions? This guide explores Zcash and the best places to buy this digital asset for low fees.

How to Buy Zcash – Quick Steps

For crypto-hungry traders looking to add Zcash to their portfolios in a matter of minutes, simply follow our easy guide below on how to invest in cryptocurrency:

Where to Buy Zcash

Several exchanges support purchases for the asset, but these are the best digital asset platforms to buy Zcash:

1. Crypto.com: Great Platform For Beginners

Looking for where to buy Zcash as a novice trader? Crypto.com is the best choice.

Regarded as one of the top altcoin exchanges, this cryptocurrency platform has gained popularity due to its strong marketing efforts. New traders will appreciate the user-friendly Crypto.com app and its low minimum deposit. These features make it easy to begin using the service right away. The low minimum deposit of $1 means there’s minimal risk for the investor.

Crypto.com is based in Singapore. Currently, it is regulated by the Malta Financial Services Authority (MFSA). The platform also has an Australian Financial Service License (AFSL).

When it comes to funding your account, there are multiple options available. You can make deposits using cards, bank accounts, and even a dedicated payment service called Crypto.com Pay.

Traders looking to earn passive income can enjoy access to crypto interest accounts on Crypto.com.

As regards fees, Crypto.com is a bit complex. The exchange charges different fees based on a tier system that grades customers based on their trade volumes.

Level One users are charged 0.4% on taker and maker fees while Level Two users are charged 0.35% for spot trading. Note that there is a 10% discount on the maker and taker fees for customers who stake CRO – the native token for crypto.com. This discount brings the fees to 0.36% for Level One and 0.315% for Level Two. Crypto.com doesn’t charge for deposits, although there are varying withdrawal fees based on the asset being traded.

In terms of security, Crypto.com holds 100% of customers’ crypto deposits in cold storage. Fiat deposits for U.S. traders are held at Metropolitan Commercial Bank – a New York-based bank with cover from the Federal Deposit Insurance Commission (FDIC). The service employs 2FA for information security. Crypto.com also has a $ 750 million insurance fund that protects customers in the event of hacks or security breaches.

Cryptoassets are a highly volatile unregulated investment product.

2. Coinbase: Low Minimum Balance for Beginners

Coinbase is one of the most popular crypto exchanges and is noted for its user-friendliness and suite of features.

The San Francisco-based exchange is regulated by the Financial Crimes Enforcement Network (FinCEN), and it is registered as a money-transmitting business by the Financial Conduct Authority (FCA) in the UK.

Coinbase excels due to its ease of use. The exchange has a quick signup process that lets you start crypto trading in minutes. Beginners looking for how to invest in Zcash can get started with as little as $2. This is one of the lowest minimum deposits in the industry.

Active traders would be able to use Coinbase’s instant buy and sell feature to buy Zcash easily. It is very fast, in line with Coinbase’s ease of use and functionality for beginners looking to start their journey in the market.

Advanced traders would also love Coinbase Pro – a dedicated trading service that offers access to all your speculative needs. Users can access margin facilities, trade derivatives, and more.

Fees on Coinbase vary between 0.5% and 4.5%. The charges are determined by the transaction type. Note that Coinbase’s fee structure is not the lowest in the market.

There are many payment channels on Coinbase. You can buy Zcash with a credit card, use PayPal to complete your purchase, or pay with a bank account. The bank wire option is only supported in some countries. Coinbase also supports payment channels like Skrill and Banxa.

Cryptoassets are a highly volatile unregulated investment product.

3. Binance: The Crypto Market’s Biggest Exchange

Crypto enthusiasts need no introduction to Binance. It is the world’s top cryptocurrency exchange by trading volume It processes billions of dollars in trades daily.

Binance started in China but has since moved its headquarters to Hong Kong and Malta. While the cryptocurrency exchange operates as a floating entity, it operates in over 100 countries.

Binance affords crypto traders several benefits. The Bitcoin exchange is highly liquid, so you can buy Zash and get your order fulfilled in seconds. Furthermore, you can also invest in NFTs, and stake your coins with ease on the Binance app.

Deposit channels are diverse on Binance. The exchange allows investors to buy Zcash with debit/credit cards, buy Zcash with PayPal, or use any of the other e-wallet options to complete their purchase. It also supports bank transfers and peer-to-peer (P2P) options.

The platform has a minimum deposit of $10, which is in line with most of its competitors. It charges 0.10% as regular trading fees, while holders of its Binance Coin (BNB) asset pay 0.075% as trading fees.

The exchange offers access to over 600 coins, so you can trade ZEC for most of the popular coins on the market. Binance offers several assets for investors based on their risk appetite. For investors who are risk-tolerant, the broker offers advanced trading features like Futures and Margin trading.

The exchange also has products targeted at risk-averse investors. Binance is known as one of the best crypto savings accounts due to its high yields. Passive traders can also use Binance’s savings and staking tool to earn passive income with their ZEC holdings.

Binance secures user information using 2FA, advanced data encryption, and whitelisting.

Cryptoassets are a highly volatile unregulated investment product. 

What is Zcash?

The digital asset Zcash focuses on privacy and anonymity in transactions. It harnesses advanced cryptography to users, offering optimal masking and anonymity for those who would like to keep their transactions private.

Originally called the Zerocash Protocol, Zcash is what is called a fork – essentially, an asset that broke out of another cryptocurrency. ZEC is a fork of Bitcoin, and it shares several similarities with the latter – including similarities in their original code and a limited supply of 21 million tokens.

Before the advent of Zcash, cryptocurrencies were designed to be “pseudonymous”. This meant that all data about their transactions – including addresses that sent funds and those that received funds – were recorded on a public ledger, otherwise known as the blockchain. So data could sometimes be linked to individuals who made transactions.

Zcash came with a unique solution to this. The asset offered “shielded addresses”, which were built to encrypt transactions and addresses stored on the blockchain.

Interestingly, the blockchain allows users to choose the level of anonymity they would prefer. It offers two types of addresses – transparent and shielded addresses. Users can send transactions between the two types of addresses, and they’re free to transact with their desired privacy levels.

Zcash uses a type of zero-knowledge cryptography called a zk-SNARK for shielded transactions. Thanks to zk-SNARKS, Zcash ensures the following:

• Transaction verifiers know nothing about the data in the transaction, except that it’s true or false.
• Transaction perverse and verifiers don’t have any communication.
• Transactions can be verified in milliseconds.

All of these ensure that Zcash can maintain transaction privacy without sacrificing speed.

Is Zcash a Good Investment?

You might be wondering, “Should I buy Zcash?” What makes this digital asset so special? We’ve highlighted some of the reasons why you should consider Zcash as a viable investment option:

A Focus on Privacy

As explained earlier, the primary benefit of Zcash is the private transactions it offers. The blockchain focuses on allowing you to process transactions anonymously, reducing the chances of anyone spying on what you’re doing.

Passive Income Opportunities

Staking is a popular activity in the crypto market. Proof-of-stake (PoS) coins allow investors to earn passive income through staking, as you can commit coins to networks and support blockchains. Zcash is a stakable asset. It is great for traders who would rather earn consistent returns instead of speculating. You can buy Zcash, stake it, and earn passive returns.

A Secure Blockchain Platform

As one of the most popular blockchains, Zcash is highly secure. There are thousands of participants on the blockchain, ensuring that all data is immutable. The presence of a shielded address also helps you to protect your identity. These addresses encrypt the transaction data stored on the Zcash blockchain, and they ensure that your details – as well as those of your transaction recipient – remain private.

Scalable for Large Transactions

Zcash ensures that transactions can still be processed quickly. It ensures fast block times (75 seconds), so it handles up to 20 transactions a second – which is more than Bitcoin, which handles about 4 transactions a second. However, this speed depends on network congestion. Your transaction might not get accepted into the first block if there are many investors sending transaction at the same time you are.

Zcash Price

Currently, the Zcash price stands at $35.8, which makes it the #80 cryptocurrency in the world with a live market cap $585,571,934. Its YTD in 2023 stands at -3.86%, after falling from above $50 in mid February. Furthermore, on a year-to-year timeline, the Zcash coin price fell from around $100 to its current level.

The drop in price comes after news of vulnerabilities in Zcash platform and the effect of the crypto market crash in 2022. However, over the last few weeks, the coin has been trading stable at a range between $32-$37.

ZEC YTD chart

Zcash Price Prediction

Zcash is one of the top anonymous blockchain protocols and it is only right for investors to know the short and long-term prospects of the platform. Although the crypto market is highly volatile and making forecasts can be difficult, there is still room for us to make a healthy Zcash price prediction.

Currently trading at $35.8, ZEC could end this year well above the $50 price range. Notably, ZEC has already reached this price level earlier this year, and with rumors about a solution to vulnerability in Zcash platform, as well as the recovery of the crypto market, Zcash can certainly rise again above $50 by the end of 2023.

Centralized control of the crypto market is gradually catching up and taking away the power from the masses. Zcash represents one of the last frontiers of a truly decentralized financial solution.

Moreover, crypto adoption and growing ecosystem involvement by several businesses and payment merchants would benefit Zcash in the upcoming years. A record number of adoptions would positively impact the Zcash price. This could put it at around $70 at the close of 2024, and a more long term outlook would see Zcash trade above $100 in 2025.

For potential alternatives to Zcash, check out this video on the best cryptocurrencies to buy right now:

Ways of Buying Zcash

Now that we know where to buy Zcash, it is also critical to know how to invest in ZEC.

Buy Zcash With PayPal

Looking for how to buy Zcash? PayPal is one of the most preferred payment options. It is arguably the most popular online payment processor in the world, and it focuses on making quick and convenient transactions. Using this option, you can fund your crypto brokerage account from the comfort of your home.

To make a PayPal-enabled transaction, enter your account details in your preferred crypto broker’s appropriate “buy” section. Typically, PayPal transactions are completed in a few minutes.

The only thing you need to consider with PayPal is the fees. Charges for transactions tend to vary based on your location, and you want to make sure that you’re not being overcharged. Once you do, you can proceed with your purchase.

Buy Zcash With Credit Card or Debit Card

Like PayPal, card transactions are also preferred because of convenience and ubiquity. Most investors use cards for day-to-day purchases. The ease of using debit/credit cards means they can easily invest in Zcash with their cards. As a popular payment channel, cards are supported by all of our brokers. To buy Zcash with a credit card, enter your card details in the “buy” section of your preferred broker, and your wallet should be funded in a few minutes.

With cards, you also need to be conscious of the fees. Different card manufacturers charge different fees based on different factors – from your location to the transaction size and more. Examine the applicable fees before you proceed.

Best Zcash Wallet

Wallets are an important part of your crypto investment journey. They offer an enabling infrastructure for investors to manage their cryptocurrencies.

A crypto wallet is a service that connects to a blockchain and keeps you up to date with transactions involving your account. The best crypto wallets combine your traditional wallet and your bank account, supporting effective asset storage and transactions.

There are different types of wallets available:

• Hardware wallets: These are physical devices that store your private and public keys. They’re not connected to the internet. Because of this, hardware wallets are much more secure.
• Software wallets: These services are installed on your devices for you to store your ZEC and make seamless transactions. There are desktop and mobile wallets. These types of wallets are heralded for their seamless transaction processing, but software wallets are also the most susceptible to hacks. It is important to ensure that your device is malware-free when using them.
• Paper wallets: These are pieces of paper with your wallet addresses written on them. Some paper wallets also come with barcodes, which you can scan to process transactions. While they’re unhackable, paper wallets are also prone to theft and loss. We advise that you find a secure location to keep these wallets if you’ll be using them.

How to Sell Zcash

Just as it is with buying, selling Zcash is easy. You can tap on the “Portfolio” button on the trading platform to see all the units you have.

• Select Zcash among the assets in your portfolio
• Click on the red cross on the right side to close the trade.
• Click on “Close Trade,” and the money will be sent to your wallet.

Conclusion

Zcash focuses on maintaining transaction privacy and enabling anonymous asset movements from one end to another. In a world where crypto transactions are becoming increasingly trackable, the asset’s focus on privacy is very attractive to crypto purists.

If you’re looking for where to buy Zcash, we recommend Crypto.com. The broker offers an easy-to-use interface, low transaction fees, and a reliable CopyTrader feature that allows you to speculate on your ZEC positions.

Frequently Asked Questions on Zcash