Zcash Price Reaches $22.58 on Exchanges (ZEC)

Zcash (ZEC) traded 1.2% lower against the dollar during the one day period ending at 20:00 PM E.T. on May 7th. During the last seven days, Zcash has traded 6.1% higher against the dollar. Zcash has a market capitalization of $368.66 million and $42.60 million worth of Zcash was traded on exchanges in the last day. One Zcash coin can currently be purchased for about $22.58 or 0.00036099 BTC on cryptocurrency exchanges.

Here’s how similar cryptocurrencies have performed during the last day:

• Bitcoin Gold (BTG) traded 2.9% lower against the dollar and now trades at $35.27 or 0.00056392 BTC.
• Horizen (ZEN) traded down 1.1% against the dollar and now trades at $8.81 or 0.00014093 BTC.
• Pirate Chain (ARRR) traded up 14.1% against the dollar and now trades at $0.37 or 0.00000585 BTC.
• Komodo (KMD) traded down 0.7% against the dollar and now trades at $0.38 or 0.00000603 BTC.
• Bitcoin Private (BTCP) traded flat against the dollar and now trades at $0.19 or 0.00000700 BTC.
• ZClassic (ZCL) traded up 1.2% against the dollar and now trades at $0.0560 or 0.00000089 BTC.

Zcash Coin Profile

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 16,328,269 coins. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official message board is forum.z.cash. The official website for Zcash is z.cash. 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 presently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView