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What is Zcash?
In this post, we will talk about “Top 5 Zcash Exchanges 2018 (Best Zcash Cryptocurrency Exchanges).” Zcash is one of the top cryptocurrencies available today. It has a few features that make it stand out, and those are the very things that define it. Its goal is to use cryptography to provide an increased level of privacy for its users. The Zcash Company was founded by Zooko Wilcox-O’Hearn, and it has a few more investors who are passionate about the many objectives of Zcash. Payments with this cryptocurrency are published on a public blockchain, but it is still entirely secure. Zcash coins, as the virtual currency is popularly called, is kept in a transparent pool. It affords users the option of “selective disclosure,” and since it employs specific proof to secure the network (zk-snark), the network maintains a safe ledger of balances that never gets disclosed to third parties. In essence, it is based on a decentralized blockchain just like Bitcoin and a few other cryptocurrencies.
ZCash has all of the information encrypted. It is an open-source cryptocurrency too. It uses Equihash as a hashing algorithm, and it heavily relies on RAM requirements to make ASIC development not possible. Zcash has, however, caused a lot of controversy for the way it has been distributing the cryptocurrency. Since it was set up as a company and not a currency like others, it is principally different from the others. ZCash, still being new, has a slow mining start where block rewards will be slower than usual.
The CEO said to Investopedia that,
Zcash is a new blockchain and cryptocurrency which allows private transactions (and private data) in a public blockchain. This allows businesses, consumers, and new apps to control who gets to see the details of their transactions, even while using a global, permission-less blockchain.
Hopefully, it would grow stronger as time passes.
What are Zcash Exchanges?
Just as other cryptocurrencies, Zcash gives interested parties the opportunity to mine blocks. Just last September, they announced that they were hosting a challenge where competitors could submit new ways to mine the virtual currency. By the fifth of October, Genesis Mining even showed that it supported Zcash by announcing that it would soon start letting its customers buy miners operated by them for mining Zcash. Mining Zcash simply allows you exchange the virtual currency for another. There is a myriad of exchanges, and they all have different rate by which they swap the currency.
Related reading, see: Top 7 Zcash Mining Pools
Not sure which of the Zcash exchanges to put to use, here are the top five for you.
Top 5 Zcash Exchanges
One of the best Zcash exchanges for 2018 is Allcoin. It claims to be
“The first listed digital asset exchange in the world,” and it calls itself “The Nasdaq of global blockchain assets.)
Allcoin is an international trading platform that was incorporated in Vancouver Canada and listed on the Canadian Securities. It makes sure it abides by the Canadian Financial Regulatory authorities under which it is based, and it is consistently audited by Manning Elliot LLP.
They are well committed to investing in technologies that use blockchain technology. They ensure that they provide a safe digital asset trading platform to as many people who want to be a part of it.
Another one of the best Zcash exchanges, Shapeshift also calls itself “the safest, fastest asset exchange on earth.” While this is certainly arguable, it is one of the fastest exchanges for Zcash exchanges available. However, it is their goal to be the most convenient and speedy for these kinds of transactions. You have the opportunity to trade any blockchain asset for the other. You don’t need to open an account, but you are offered security to the best of their ability. They assure their users that their exchange rates will always remain competitive. To exchange, all you have to do is choose the currency you want to exchange set your receiving address, and transfer. There are no fees attached to the exchange, so you are not exposed to custodial risk. There is, however, a miner fee. There are no frauds, so the exact amount you see is what you receive by the transfer. One thing they state n the Shapeshift website is that “If your order fails and you have provided us with a return address, we do deduct the miner fee from your auto-returned transaction.” This should be borne in mind all through.
Next on the list of good Zcash Exchanges is Bittrex. It is regulated in the United States of America, and it also offers incredibly fast trade execution, and a secure platform to trade and exchange cryptocurrencies. They give businesses and individuals the chance to buy and sell top cryptocurrencies as well as digital tokens. They offer you the speed and convenient services that lets you easily exchange Bitcoin, Ripple, Litecoin, NEO, Zcash, and so much more. It works perfectly for both veterans and novices as the platform is very easy to navigate. A good number of their traders enjoy buying and selling through third-party platforms or even designing their unique ones. Bittrex is dedicated to providing their users with the best trading experience, and their goal is to ensure that they are surpassing industry standards. “To protect users, we require two-factor authentication for all withdrawals and API usage.” Even more, their entire website (bittrex.com), is protected by SSL, so your money, as well as your personal information, is in good hands.
Related readings, see:
Our Other Cryptocurrency Exchanges Guides
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- Coinbase Review 2018: 5 Features + 3 Controversial Things to Know
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Changelly lets you exchange cryptocurrency at some of the best rates in the market, and you can make all your transfers in mere seconds. As for the fees, they give you a fair fee of-of 0.5%. Their exchange is meant for skilled traders, so if you are a novice to exchanges, you might want to try another option on this list. To transfer or exchange, all you have to do is input the amount and the address you are transferring to. Changelly is a service that is put together by a group of enthusiasts, and they were the same one who created MinerGate. They give you a very easy way to transact, some of the best rates, as well as an intuitive interface. They are undoubtedly some of the best rates you can find in the market.
Last but not the least is the Canadian based cryptocurrency exchange, Tux Exchange. They are incorporated in the province of Ontario, Canada, and they are wonderful with customer service. They offer spot trading for cryptocurrencies ranging from Litecoin, Peercoin, Namecoin, Dash, , Zcash, Blackcoin, and so much more on the exchange. In case you were wondering, the Tux brand is inspired by a Tuxedo cat, and they also intend to deliver the fastest cryptocurrency trading experience they can give their clients. They are hosted on Amazon’s AWS platform, ensuring security, they have a hot/cold storage solution, and they provide two-factor authentication for their users to stay protected.
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