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Compared to other cryptocurrencies and investment assets,\nZcash (ZEC) is still relatively new, making some investors wonder whether they\nshould buy Zcash or not. <\/p>\n\n\n\n
Take a Closer Look<\/strong><\/p>\n\n\n\n Zcash makes use of zk-SNARKs, which are zero-knowledge proof\nconstructions that let two users participate in an exchange of information\nwithout having to reveal identities. The cryptocurrency does still include a\npublic ledger, but it only displays the occurrence of a transfer.<\/p>\n\n\n\n However, it is important for you to keep in mind that Zcash\ndoes not deliver privacy and anonymity by default. Instead, it delivers the\noption of hiding your transaction data so it does not appear on the public\nledger. It is even possible that those who choose not to make their\ntransactions private on Zcash can unintentionally make it easier to track those\nwho do opt for privacy. <\/p>\n\n\n\n How It Differs from Bitcoin<\/strong><\/p>\n\n\n\n To better understand Zcash, it can help to take a closer\nlook at how it compares to Bitcoin, as that is the cryptocurrency that most\npeople are familiar with. Developers built Zcash\u2019s infrastructure by enhancing\nBitcoin\u2019s underlying code, adding the zero-knowledge proofs, updating its\nproof-of-work consensus model, and making other minor changes. The result is that\nBitcoin and Zcash operate incredibly similarly but with the latter delivering\nmore privacy. Bitcoin always records the transaction details mentioned above,\nincluding the amount, sender, and receiver, while Zcash offers the option to\nhide this information. Both blockchains always record that a transaction\noccurred, however. <\/p>\n\n\n\n Some Say Zcash Has a Huge Potential<\/strong><\/p>\n\n\n\n Investors have already begun looking at Zcash as another\nsmart investment opportunity in the world of cryptocurrency. Grayscale\nInvestments, for instance, released their investment thesis regarding Zcash\nearlier this year, and it includes a dramatic possibility of the Zcash price\nskyrocketing. Fortune provided a nice, succinct summary of the thesis by\nMatthew Beck, which relies on financial modeling to project a sharp rise in\nZcash value. <\/p>\n\n\n\n In January, when the report came out, Zcash was at just\nunder $400. The report said that by 2025, this figure could be over $60,000.\nThis prediction assumes that Zcash will represent 1 percent of offshore wealth\nby this point in time. It also comes with a large disclaimer that there is no\nguarantee or representation that Zcash will or even is likely to achieve that\nhigh value. <\/p>\n\n\n\n Although this proposition seems incredible, Grayscale does\nprovide several reasons within the report to back up the prediction. These\ninclude:<\/p>\n\n\n\n Other Zcash Predictions<\/strong><\/p>\n\n\n\n A quick online search can show you many other predictions\nfor Zcash, almost all of which are significantly more conservative. For\nexample, the Economy Forecast Agency predicts a high of $109 within 2019, up to\n$234 in 2020, $411 in 2021, and $428 in 2022. While some of those predictions\nare significantly higher than the current value of Zcash, they are nowhere near\nthe $60,000 prediction from Grayscale. <\/p>\n\n\n\n Placing Zcash in the Market Rankings<\/strong><\/p>\n\n\n\n Those who consider investing in Zcash should take the time\nto see how it fits into the larger picture of cryptocurrency. Zcash experienced\na similar drop in value to that of Bitcoin in the first part of this year.\nWhile its value in January was about $400, CoinMarketCap lists it at $134.29 at\nthe time of writing. According to that same website, there is a circulating\nsupply of 4,573,606 ZEC, a market cap of $594,956,648, and a 24-hour volume of\n$98,560,215. Zcash is at the rank of 19. <\/p>\n\n\n\n How to Invest in Zcash<\/strong><\/p>\n\n\n\n Those who decide they do want to invest in Zcash will have\nseveral methods of doing so, although not as many as with more popular\ncryptocurrencies, like Bitcoin or Ethereum. The simplest method of investing in\nZcash is via a cryptocurrency exchange. If you already have Ethereum or\nBitcoin, you can use a crypto-to-crypto exchange to purchase ZEC using BTC or\nETH. <\/p>\n\n\n\n If you do not currently have crypto assets or do not want to\nuse them to buy Zcash, you can also use a fiat-to-crypto exchange. Most of the\nmajor exchanges have support for Zcash. Just confirm that your chosen exchange\nsupports it before depositing funds and that you can use the currency you wish\nto pay with. <\/p>\n\n\n\n One of the most user-friendly methods of buying Zcash is\ndoing so with a credit card. This option is hardly available at many exchanges,\nthough it is possible with CEX.IO. The exchange has a proven track record in\nthe cryptocurrency space and is a go-to platform for both beginners and regular\ntraders. Buying Zcash with a credit card at CEX.IO is easy and will only\nrequire a few steps – registering, ID verification, card validation and\nactually purchasing itself. Once you buy the coins, you can transfer them to\nyour own wallet or safely store Zcash on the exchange as it offers a cold\nstorage option for the users\u2019 crypto funds.<\/p>\n\n\n\n Conclusion<\/strong><\/p>\n\n\n\n Zcash follows the basic structure and technology of Bitcoin\nbut enhances the blockchain with added privacy. Thanks to the option to hide\ninformation regarding amount sent and the parties in a transaction, many\nexperts predict that Zcash will experience an increase in value in the future.\nOne crypto fund even predicts that Zcash has the potential to become something\nlike offshore holdings for the cryptocurrency world because of its built-in\nprivacy. If this prediction holds true, the value of Zcash could soar extremely\nhigh, but you should not count on the results that are too dramatic. Although\nthe predicted values vary, most experts agree that Zcash can be a sound\ninvestment asset to add to your portfolio, particularly among other\ncryptocurrency investments. <\/p>\n","protected":false},"excerpt":{"rendered":" Compared to other cryptocurrencies and investment assets, Zcash (ZEC) is still relatively new, making some investors wonder whether they should buy Zcash or not. Take a Closer Look Zcash makes use of zk-SNARKs, which are zero-knowledge proof constructions that let two users participate in an exchange of information without having to reveal identities. The cryptocurrency does still include a public ledger, but it only displays the occurrence of a transfer. However, it is important for you to keep in mind that Zcash does not deliver privacy and anonymity by default. Instead, it delivers the option of hiding your transaction data […]<\/p>\n