Zcash (ZEC) Price Tops $23.11 on Exchanges

Zcash (ZEC) traded down 0.8% against the dollar during the 1 day period ending at 13:00 PM ET on May 6th. Zcash has a market capitalization of $377.29 million and approximately $44.56 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can now be bought for $23.11 or 0.00036493 BTC on exchanges. In the last week, Zcash has traded up 2.3% against the dollar.

Here’s how other cryptocurrencies have performed in the last 24 hours:

• Bitcoin Gold (BTG) traded 3.5% lower against the dollar and now trades at $36.86 or 0.00058214 BTC.
• Horizen (ZEN) traded 1% lower against the dollar and now trades at $9.00 or 0.00014217 BTC.
• Pirate Chain (ARRR) traded up 1.9% against the dollar and now trades at $0.36 or 0.00000561 BTC.
• Komodo (KMD) traded 5.1% lower against the dollar and now trades at $0.38 or 0.00000608 BTC.
• Bitcoin Private (BTCP) traded flat against the dollar and now trades at $0.19 or 0.00000700 BTC.
• ZClassic (ZCL) traded down 3.6% against the dollar and now trades at $0.0570 or 0.00000090 BTC.

Zcash Profile

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 28th, 2016. Zcash’s total supply is 16,328,269 coins. The official website for Zcash is z.cash. The official message board for Zcash is forum.z.cash. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here.

According to CryptoCompare, “ZCash (ZEC) is a digital currency and decentralized open-source cryptocurrency, launched in 2016. It provides users with enhanced privacy and selective transparency of transactions. ZCash is based on the zero-knowledge proof protocol known as zk-SNARKs. This protocol allows the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Transactions can be audited, verified and tracked without revealing the sender, receiver or transaction amount. ZEC is an inflationary currency, with a maximum supply of 21 million coins. It is accepted by a growing number of merchants, exchanges and other services.”

Buying and Selling Zcash

It is usually not possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView