How to Buy Zcash (ZEC)
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Price of Zcash Today (24h)$490.96
-17%Zcash (ZEC) is the binance-ecosystem related coin that has been embraced by crypto enthusiasts and investors since its launch. It is currently ranked number 13 based on market capitalization on CoinMarketCap, with a market capitalization of 11033619258 recorded at the time of writing. ZEC has been gaining momentum alongside the flourishing cryptocurrency market this year. More and more people are becoming interested in Zcash. They wish to invest or purchase Zcash (ZEC), but may not know how to get started. Here, we will guide you through all the information you need to know about purchasing Zcash. Regardless of your location, Bitrue can provide you with a simple and secure way to buy ZEC.
Where and how to buy Zcash
Zcash (ZEC) is currently not available for fiat and spot trading on Bitrue exchange. However, you can purchase ZEC on decentralized exchanges (DEX). Simply connect your crypto wallet to a DEX, choose the ZEC trading pair, and complete the ordering process. Here is a step-by-step guide on purchasing ZEC:
Steps to Buy Zcash (ZEC)
01Step 1 Create a Wallet
Choose from various cryptocurrency wallets, including digital wallets and hardware wallets. Typically, creating a cryptocurrency wallet is as simple as installing an application on your phone or computer. When you install the application, your cryptocurrency wallet is automatically created following the installation steps. Remember to note down your mnemonic phrase or private key during wallet creation, as the loss of this information will result in permanent loss of the digital assets stored in the wallet. Once your wallet is created, you can immediately transfer cryptocurrency to it, securely store it, and use it as you wish.
02Step 2 Wallet Setup
Configure your wallet with a blockchain network protocol compatible with Zcash (ZEC), ensuring that your cryptocurrency wallet can receive ZEC.
03Step 3 Choose a DEX
Select a decentralized exchange (DEX) that supports Zcash (ZEC) trading. Popular DEX platforms include Uniswap, SushiSwap, PancakeSwap, etc., depending on the blockchain network hosting ZEC.
04Step 4 Connect Wallet
Connect your cryptocurrency wallet to the chosen DEX. This connection allows you to trade directly from your wallet without the need for a central intermediary.
05Step 5 Choose ZEC Trading Pair
Locate the ZEC trading pair on the DEX platform (DEXs typically list tokens in pairs, such as ZEC/ETH, ZEC/USDT, etc.). Ensure your wallet has enough cryptocurrency to pay for the desired amount of ZEC you want to purchase.
06Step 6 Confirm Order
Decide on the type of trade you want to execute. DEX platforms offer options similar to centralized exchanges, such as market orders and limit orders. Confirm and execute your trade.
07Step 7 Verify Transaction
Transactions on DEXs are recorded on the blockchain. Verify the completion of your trade on the blockchain explorer using your wallet address.
08Step 8 Store Securely
- After the transaction is completed, ZEC will be automatically stored in your blockchain network wallet address. You may also consider transferring your ZEC to a hardware wallet to enhance security, especially if you plan to hold it for the long term. This significantly reduces the risk associated with keeping digital assets in an online wallet.
- Decentralized exchanges offer greater privacy, transparency, and control over your assets. However, they may have lower liquidity compared to centralized exchanges, and transactions can sometimes be associated with higher fees depending on the blockchain network. Always conduct thorough research on the chosen DEX and understand its features before initiating transactions.
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Alternative methods to acquire Zcash
Apart from directly buying Zcash (ZEC), what are the alternative methods to acquire Zcash ?
Fixed Auto-Investment in ZEC
Regularly invest a fixed amount at scheduled intervals in Zcash (ZEC) digital assets, enjoying both short-term returns and long-term benefits.
Staking ZEC
Flexible staking of Zcash (ZEC) digital assets to earn interest or high returns in other cryptocurrencies.
POW Mining
Zcash miners choose mining rigs or cloud mining with high GPU and CPU configurations, configure mining software, select mining pools, and start mining to earn ZEC rewards.
Get Zcash (ZEC) for free
If you have enough time, you can obtain Zcash for free through the following methods:
- Invite friends to join the Bitrue coupon event and earn free Zcash (ZEC).
- Join the Bitrue Rewards Center, participate in ongoing challenges and airdrops to receive free Zcash.
- All cryptocurrency airdrops and rewards can be exchanged for ZEC through coin-to-coin exchange or spot trading.
How to keep your Zcash safe and secure
Once you have purchased Zcash, it is crucial to store it in a secure location.
If you are highly familiar with operating on-chain Zcash wallets, you also have the option to store Zcash (ZEC) separately in a personal encrypted wallet. This wallet serves to keep your Zcash secure and accessible, allowing you to send and receive it while maintaining control.
To ensure the security of your Zcash, consider the following types of encrypted wallets:
- Mobile Wallets: Store your private key in an application on your smartphone.
- Web Wallets: Third-party-controlled online servers that store your private key.
- Desktop Wallets: Computer programs that allow you to store your private key on a hard drive.
- Hardware Wallets: Physical devices for offline storage of private keys.
Note: Cryptocurrency wallets do not technically store your Zcash encrypted assets. Instead, the assets remain on the blockchain, and access is granted using the digital private keys stored in the wallet.
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Some market stats about ZEC
Price Analysis
ZECZcash Price Now:
$490.96-17%24H
Zcash is falling this week.
The price of Zcash has increased by --% in the last 7 days. It has seen a -17% decrease in the past 24 hours and a -0.63% decrease in just the last hour. The current price is $490.96 per ZEC. Zcash is dropped -27.62% from its all-time high of $678.39.
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How to buy other cryptocurrencies
There are lots of ways to buy, swap, and convert crypto. Learn more about how you can do it all using Bitrue with our how to buy crypto guide.
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FAQ About Buy Crypto
What is Zcash?
Zcash (ZEC) is a cryptocurrency . Users are able to generate ZEC through the process of mining. Zcash has a current supply of 16,286,238.9155448. The last known price of Zcash is 617.32161275 USD and is up 19.13 over the last 24 hours. It is currently trading on 485 active market(s) with $1,797,136,303.64 traded over the last 24 hours. More information can be found at https://z.cash/.
How many Zcash are there in total?
The total supply of Zcash is 16,304,215 and the Circulating Supply is 16,304,215 .
Why are people buying Zcash?
People buy Zcash for various reasons. Some view it as an investment, expecting its value to increase, while others appreciate its decentralization and anonymity, seeking to avoid restrictions of traditional financial systems. Additionally, Zcash serves as a digital asset with transactions independent of central authorities. Overall, motivations for purchasing Zcash include investment, risk diversification, and trust in new digital assets.
Should I buy Zcash?
Deciding whether to buy Zcash depends on individual financial goals, risk tolerance, and understanding of the digital asset market. Zcash investments involve market volatility and risks, so it's advisable to thoroughly understand its characteristics and market conditions before purchasing. If you have investment experience, can withstand price fluctuations, and are willing to accept potential losses, buying Zcash (ZEC) may be a suitable investment choice. However, remember that all investments come with risks.
Can I use cash to buy Zcash?
Generally, buying Zcash digital assets by cash is relatively challenging, as most cryptocurrency exchanges prefer electronic payments or bank transfers.
How much does it cost to buy 10 ZEC?
To purchase 10 ZEC, the cost in USD would be $4909.6.
What can I do with Zcash?
You can use Zcash to pay for goods and services, invest, transfer and remit, preserve assets, participate in DeFi, donate, and more.
Disclaimer
Cryptocurrency markets are highly volatile and can experience rapid price fluctuations. You are solely responsible for your investment decisions and Bitrue is not liable for any losses you may incur. We rely on third-party sources for price and other data related to the cryptocurrencies listed above, and we are not responsible for its reliability or accuracy. The information provided on this platform and any associated materials are for informational purposes only and should not be considered as financial or investment advice.
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