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Zcash (ZEC) is a privacy-focused cryptocurrency that takes the privacy offered by Bitcoin to the next level. Launched in 2016 by Zooko Wilcox-O’Hearn, ZEC has quickly gained significant popularity due to its decentralized, open-source, and privacy-centric nature. ZEC users can adjust privacy settings and choose which transactions are private. This flexibility has allowed ZEC to be more widely used than other privacy-focused cryptocurrencies, leading to its value reaching record highs.
What is Zcash Coin?
When looking at Zcash coin reviews, the technology used by ZEC stands out. Zcash employs a privacy technology known as zk-SNARKs. zk-SNARKs, or zero-knowledge proofs, enable the selection of which information or transactions to display. This ensures that the network can record transactions securely, concealing the transaction parties and amounts, thereby fulfilling the necessities of blockchain technology.
Similar to the Bitcoin network, neither the wallet addresses of the parties nor the transferred amount is visible. Transaction metadata is encrypted and secured using zk-SNARKs. Zcash reviews highlight the increasing threats to economic freedoms in current times, emphasizing that this offers a promising future.
Zcash Reviews
When this cryptocurrency was first introduced, many analysts contributed to Zcash coin reviews, suggesting that it could surpass even Bitcoin. Although ZEC Coin did compete with Bitcoin in its early years, it has never been able to catch up to BTC after Bitcoin’s famous surge in 2017.
So, looking at the current situation, should one buy Zcash or what should be done to purchase Zcash? The answer to whether Zcash should be bought can vary depending on the individual’s risk level, but a 27.5% increase in its price on the Binance cryptocurrency exchange over a 30-day period indicates it could be a good investment.
How to Buy Zcash
You can easily and securely purchase ZEC on Binance, one of the world’s largest cryptocurrency exchanges by trading volume.
To buy ZEC on Binance, simply follow the steps below:
- To purchase ZEC, you first need to deposit USD balance into the exchange, or alternatively, purchase a cryptocurrency that can be used instead. For this, first go to the Binance homepage, click on the “Buy Crypto” option at the top left, and then click on the “Credit/Bank Card” tab.
- In the opened tab, select how much USD you want to transact with, and then mark USDT, that is Tether, in the Coin section.
- After purchasing USDT, preview the “Buy-Sell” option at the top left again and click on the “Classic” tab.
- In the opened section, select the USDT tab at the top right, type ZEC into the search button, and choose the ZEC/USDT pair that appears below.
- Then, go to the “BUY ZEC” tab in the middle, enter the amount you want to buy.
- Enter the amount you wish and confirm the transaction to complete the purchase of ZEC.
