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Zcash is one of the most famous anonymous cryptocurrencies throughout its relatively short history and has been one of the top 100 digital currency markets. Let's find out what Zcash (ZEC) is, whether you should buy Zcash, and how to invest in Zcash.

Ways to invest in Zcash (ZEC)
Ways to invest in Zcash (ZEC)

Ways to buy ZEC

So, you're ready to dive into the world of cryptocurrencies and wonder where to buy ZCash? We recommend that you look at reliable exchanges that support this cryptocurrency:

1. Binance.

2. Okex.

3. Huobi.

How do I buy ZEC from an exchange?

1. Create a free account on the exchange.

Accounts are your secure portal into the world of cryptocurrency, they are entirely free to set up, and it only takes a few minutes.

2. Complete account verification.

You will need to verify your account before you buy ZEC. To comply with regulatory requirements (and provide increased account security), some exchanges will ask you for an ID or passport to verify your identity. 

3. Buy Zcash (ZEC).

As you can see, nothing complicated! So, get ready to enter the new digital economy with the very first ZEC purchase at your chosen exchange!

How to buy ZCash (ZEC)?
How to buy ZCash (ZEC)?

Ways to invest in ZCash

The cryptocurrency has good prospects in terms of investment. This is due to the popularity of making anonymous transactions. Many people prefer it over competitors when making payments. However, ZCash is heavily tied to general market trends. 

The rise or fall of Bitcoin is strongly reflected in Altcoin quotations. This fact should be considered when investing. 

Many users want to invest in ZCash but don't know how. One of the most successful methods of investing in CFD. 

CFD is a derivative financial instrument actively used in trading in the financial markets.

In CFD trading, the seller does not have to own a real asset, and the buyer does not have the right to demand delivery. Therefore, CFDs are primarily used for speculative purposes, i.e. to profit from price differences, i.e. whether the price goes up or down. 

So, the contract for difference allows you to trade not the asset itself but only its price. CFD trading allows speculating on price movement (up or down). At the same time, the investor gets all advantages related to trading in shares without actually having them.

How to invest in ZCash?
How to invest in ZCash?

What is Zcash?

In 2014, researchers from several universities set out to develop the Zerocash protocol. This work made it possible to increase blockchain anonymity in cryptocurrency. However, the development of the protocol was only a launching pad for a new cryptocurrency system. Zcash was announced by developers on 20 January 2016. And the possibility of mining was advertised a year and a half later - on 28 October 2017.

While initially, the creators claimed that this new cryptocurrency was created as a supplement to Bitcoin, after the official announcement, it was safe to say that this project is a wholly independent and unique incarnation of the digital monetary unit. As a result, Zcash was soon listed on the leading exchanges and was assigned the ticker symbol ZEC.

At the same time, the coin's value began to skyrocket, which impacted the outlook for Zcash cryptocurrency. That was facilitated, among other things, by the minimum issuance volume. As a result, the value of a single coin rose from $2 to $3,000 in just a couple of days. Indeed, it was not without correction, but all experts call it the fastest start in the crypto market history.

The main positives and negatives of Zcash cryptocurrency 

Benefits of ZCash
Benefits of ZCash

The most crucial aspect for those who want to invest in Zcash is their strengths and weaknesses. Being aware of the strengths and weaknesses will only help one multiply capital, calculate risk and invest correctly. 

Benefits of ZEC:

  • Full confidentiality of transactions is the unique central aspect of the ZeroCash payment system. 
  • High block download speed with minimal fees - 4 times faster than Bitcoin network.
  • Unrealistic to calculate e-wallet addresses and develop compromises due to non-disclosure of personal data.
  • The payment system is as accessible and convenient as possible, and it does not retain the information of its customers.
  • Maximum security of the blockchain network thanks to decentralisation and the zk-SNARK algorithm.
  • Application of scientific protocols that serve as a guarantee of the stable operation of the project.

Disadvantages of ZEC:

  • Subsequently, complete confidentiality of transactions has created a risk of illegal trading. Criminals trade on the darknet and purchase weapons and various illegal substances with Zcash.
  • As a result of the emergence of computing power for mining, there is the option of centralising the platform. Developers have conducted research and found that half of all ZEC mining farms belong to three addresses. It is suspected that these are the head of Bitmain's processors. Therefore, if half of the farms are attacked, the illegally mined money could be concentrated in one person's hands.
  • The low price of cryptocurrencies does not make them super-popular among users. However, while investors have been slow to invest, they give high marks to the confidential technology of such transfers.

It is worth paying attention to promising currencies with low prices. Because the currency price is likely to rise in the future, and investors will profit from it.

Information about ZCash
Information about ZCash

Why buy/invest in cryptocurrency?

Increased security is one of the main benefits of cryptocurrencies. Each blockchain (blockchain) is secured through various consensus mechanisms, and wallet addresses are usually encrypted using cryptography. This makes cryptocurrency much more secure than traditional electronic transactions (PayPal, VISA, etc.) and at the same time provides unprecedented transparency.

Cryptocurrencies have found widespread use as a form of payment - partly due to the high speed of settlement. Whether international or sent to your nearest neighbour, Crypto-transactions are typically executed lightning-fast. This is because a blockchain transaction does not require the services of any central authority to verify, nor is it interrupted by currency exchange or other activities that occur in cross-border transactions. In addition, such a transaction can be completed autonomously at any time.

Wise investing in cryptocurrency is safe
Wise investing in cryptocurrency is safe

The main advantage of most cryptocurrencies is their complete decentralisation. Some cryptocurrencies are controlled by their developers, who can arbitrarily determine the "tokenomics" (supply volume, inflation, deflation, etc.), but many of them operate entirely decentralised. This can be achieved through so-called stacking (or delegated stacking), decentralised autonomous organisations (DAOs), or simply a distributed network of miners who maintain the network and choose how and where to allocate their hash power (mining power). Decentralisation helps protect cryptocurrencies from corruption, which is evident in situations where one person has complete control over the entire currency in the case of fiat currencies.

ZCash trading conditions
ZCash trading conditions

What changes await/occur in Zcash?

Zcash developer Electric Coin Company (ECC) intends to change the cryptocurrency's architecture radically. The creators plan to have the Zcash network capable of processing millions of transactions per second and serving 10 billion people by 2050.

This may require a transition to a new type of blockchain that supports sharding technology. It will need to be built from the ground up. It will also require effort to ensure that the ZEC coin is moved to the new blockchain in a way that it does not lose in value."

With the new blockchain, developers hope to solve Zcash's other big problem - too little use of private transactions (their share today does not exceed 2% of the total). However, the new Zcash blockchain may be incompatible with transparent transactions in principle.

In addition, in January 2020, the Zcash user community voted on a new scheme for distributing rewards for mining on the network.

According to the decision, miners will continue to receive 80%, the Electric Coin Company, the coin developer, 7%, and the Zcash Foundation organisation 5%. The remaining 8% will be given to third-party developers for grants. 

ZEC mining
ZEC mining

ZEC mining

The computing power of the equipment is used to solve mathematical problems. Coins are provided to the user as a reward. As with BTC mining, the workload during mining falls on the video cards.

ASIC systems like Antminer Z11, Innosilicon A9 or more powerful are the most effective. Their only disadvantage is that they are using only one algorithm. As a result, you can't reconfigure the equipment to mine other coins. Video cards are more versatile. The miner can choose the algorithms and even the coins.

However, unless we are talking about large GPU-based farms, video cards are not efficient enough for mining in solo mode. The only way out is to connect to a pool.

To start mining, EWFB software must be installed.

Investment platform
Investment platform

Ending 

The platform's founder, Zuko Wilcox, is strategising on the innovativeness of the technology, which will have more pros than cons. What's more, there are already agreements with banks interested in ensuring complete confidentiality of their transactions. And the first organisation to take this step is giant J.P. Morgan.

When it comes to the asset's profitability, its price is volatile. Some experts are confident that there will be rapid growth this year, while others are sceptical. 

Overall, the future of cryptocurrency is promising and promising. Of course, it is up to you to decide whether to buy it or not. But if you want to succeed, start learning how to trade and invest now. Wish you the best of luck!

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