How to Buy Zcash

What is Zcash?

 

What is Zcash?

Zcash is a privacy-focused coin that has been around since 2011. Using zero-knowledge cryptography, users can optionally shield their transactions, making them private to people outside of the transaction.

Zcash is currently sitting at $190, down from its all time high of $700. Learn how to buy Zcash below with several different payment methods.

Where to Buy ZCash?

ExchangesFeesSupported CountriesPayment Methods
Binance.05%-.1%AllBTC & ETH
Changelly.5%AllBTC, ETH, & Fiat
Gemini~.75%US, UK, HK, CAN, SGBTC, ETH, & Fiat
Bittrex.1%-.2%No USBTC, ETH, & Fiat
CEX.io7~ PremiumAlmost AllCredit, Debit, Crypto
Kraken.2%US, Europe, JPYBTC, ETH, & Fiat

Depending on your country or payment method, certain exchanges will be better to use.

Buying Zcash on Binance

Zcash can be purchased on Binance for Ethereum, Bitcoin, and BNB. We’d recommend using BTC or ETH as they are more available on fiat exchanges. Before we can send Bitcoin or Ethereum to Binance we need to locate our Binance deposit addresses.

To do this, click funds, deposits and then enter the tag of the currency you are depositing. If you are depositing Bitcoin type BTC, and ETH for Ethereum.

Copy the address that is revealed as it will be used to send cryptocurrency to the exchange. On the wallet or exchange, you have your Bitcoin/Ethereum, you will want to navigate to the section that allows you to send cryptocurrency.

Find the respective section for the cryptocurrency you are sending, and paste the address we found in the previous step.

Send from Coinbase

In 10-20 minutes, your cryptocurrency should arrive to Binance. We now have a balance to purchase Zcash!

On the main page of Binance, you will find a section listing all their trading pairs. Go to the corresponding pair of the currency you deposited. Type ZEC into the search bar to find the pairing.

You’ll be taken to the order book page, where you can enter a buy order for Zcash.

In the bottom middle section, you can enter an order. You have two options here.

  • Market Order
  • Limit Order

Market orders are best for beginners and allow you to instantly buy a selected amount of currency at the going rate. Limit orders allow you to choose a price and amount and only execute when the price is reached.

Once your order has been filled, you have successfully purchased Zcash!

Buying Zcash on CEX.io

Cex.io is an older exchange that allows cryptocurrency to be purchased via bank account, credit card, debit card and more. They have a wide variety of currencies, including Zcash. To get started buying Zcash on CEX.io, create an account.

After creating an account, deposit into the exchange via the desired payment method.

Once your deposit goes through, navigate to the ZEC/USD or ZEC/EUR trading pair. Enter your order and once it has been filled you have successfully purchased Zcash on Cex.io!

Buying Zcash on Gemini

Gemini Exchange

In order to buy Zcash on Gemini, you will need to create an account. Gemini allows users to purchase Zcash with Bitcoin, Ethereum, and USD. This is the most direct way to purchase Zcash.

After creating an account and getting verified, you will need to deposit funds into the exchange. Gemini currently only allows cryptocurrency deposits and bank transfers. Their fees for bank purchases are extremely low at around 1%.

Although bank transfers take a few days, Gemini uses a credit system allowing you to instantly purchase cryptocurrency. This is useful for buying right before a big move. The only drawback with this is that you can not withdrawal from the exchange until your bank deposit clears.

You have a few options on Gemini.

  • Orderbook
  • Auction
  • Block Trade

Orderbook purchases are the most common, where you are buying from another user at a price they set. This is the most recommended option for a beginner.

Auction trades are not recommended for beginners but are a way of averaging out the price of a cryptocurrency based on other peoples bids.

Block trades are only for users buying large amounts of cryptocurrencies. These allow users to post orders of large amounts outside of the main order book. This is done to eliminate large market movements from buys and sells while getting a fair price.

Once your order has been filled you have successfully purchased Zcash.

Buying Zcash on Changelly

Changelly is another solid option for purchasing Zcash. They have a completely different take on the cryptocurrency exchange process by removing a step from the process.

First, create an account on the exchange. Changelly allows users to use a social media account for faster signup. Once your account is set up, select an input and output currency. In this example, we are going to exchange Bitcoin for Zcash.

Click next, and you will be asked to enter an address to have your Zcash sent to.

Next, you will be prompted to send the input currency to an address. Shortly after the transaction is sent, you will receive ZEC as your output currency!

Buying Zcash on Bittrex

Deposit into Bittrex

Bittrex is a US-based exchange that has been around for a while that sells Zcash and several other cryptocurrencies for Bitcoin and Ethereum.

After creating an account, go to the wallets page where you can deposit Bitcoin or Ethereum into the exchange.

We covered how to send a cryptocurrency transaction above, but you will need to copy your Bittrex deposit address (shown left) and paste it into the wallet you are sending the transaction from.

After sending to Bittrex, go to the BTC/ZEC or ETH/ZEC page to enter a buy order.

Bittrex just has limit orders, so enter a price and amount of Zcash you want to buy, and wait for the order to be filled.

After the order is sold into, you have successfully purchased Zcash!

Buying Zcash on Kraken

kraken review

Kraken is another US-based exchange that sells Zcash. Kraken is a fiat exchange, meaning Zcash can be directly purchased with US Dollars, Euros and more.

Buying Zcash on Kraken

Sign up for the exchange, and deposit funds via bank account or card. After your funds arrive to the exchange, head to a Zcash pairing. From here, you can purchase Zcash!

How to Buy Zcash with a Credit or Debit Card

Of the exchanges mentioned above, CEX.io and Changelly are the only ones that directly accept credit and debit cards. Otherwise, you’ll need to first purchase Bitcoin or Ethereum with a card, and then send it to a mentioned exchange.

Buying cryptocurrency with a credit card is convenient, but bank account purchases will lead to the lowest fees.

How to Buy Zcash with a Bank Account

Cex.io, Gemini, and Kraken will all let you purchase Zcash with your bank account. If you’d like to use a different exchange, you’ll have to first purchase Bitcoin or Ethereum with a bank account on an exchange like Coinbase, and then send the purchased cryptocurrency to an exchange like Binance where you can purchase Zcash with Bitcoin and Ethereum.

How to Buy Zcash with Bitcoin

All of the above exchanges except Changelly allow you to purchase Zcash with Bitcoin. To get the most bang out of your bits, you’ll want to use Binance as they have the lowest fees out of all the other exchanges. Read our section above to learn how to buy and deposit cryptocurrency on Binance.

How to Buy Zcash with Ethereum

Zcash can be purchased with Ethereum on several of the above exchanges. Binance is the lowest fee out of the above exchanges, so you may want to use that to make your purchase.

How to Buy Zcash with Paypal

Buying Zcash with Paypal is more difficult than the other methods, but is certainly possible. To do so, create an account on the exchange Virwox.

Virwox allows users to convert Paypal balance into Bitcoin. From here, you can send Bitcoin off the exchange to an exchange mentioned above that allows you to purchase Zcash with Bitcoin.

For more information about using Paypal to buy Bitcoin, check out our full in-depth guide.

How to Buy Zcash with Cash

This is also somewhat difficult to do, but can definitely be done. Using the exchange Localbitcoins, you can purchase Bitcoin with cash. Afterward, you can send the Bitcoin to an exchange where Zcash is sold.

Frequently Asked Questions

What is the best way to buy Zcash?

Depending on which payment you want to use, and what country you are from, certain exchanges will be best. The cheapest exchange to buy Zcash on is Binance as they only charge .05%-.1% fees.

What App can I Buy Zcash On?

Zcash can be purchased on the Binance app. Binance’s app allows users to buy, sell, and receive cryptocurrency on the go on iOS and Android. If you need to purchase Bitcoin to buy Zcash on Binance, Coinbase also has an app.

Who created Zcash?

Zcash is lead by Zooko Wilcox and a large team of other developers. The Zcash team receives 20% of all block rewards for the first 4 years of the coin to support their development efforts.

Can I Mine Zcash?

Absolutely! Zcash is one of the most profitable cryptocurrencies to mine. Before mining Zcash, start learning about your options for Zcash mining pools and Zcash mining hardware.