Buy ZCash (ZEC) in the UAE
For someone who is interested in the cryptosphere, the name Zcash will not be completely new. But if you are a newbie, be sure that from this article you will learn a lot of new and useful things about this cryptocurrency.
What is Zcash(ZEC)?
Zcash was created by developer Zuko Wilcox in 2016. Wilcox saw Bitcoin gaining worldwide fame and recognition, and he himself was a fan. However, he pointed out that all Bitcoin transactions are on a public registry that anyone can access - which, in the case of some, could pose a security risk.
For example, anyone who knows the address of your wallet can look on the blockchain to see how much money you have in it.
If that information gets into the wrong hands, it could be costly. That's why Wilcox created the Zcash blockchain, which allows you to send and receive funds without any third party knowing the details of your transactions or your account.
Zcash uses zero-disclosure constructs called Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) and allows users to exchange information without revealing their identity.
With this approach, users are protected from theft and hacking. Details of all blockchain transactions remain completely inaccessible to third parties.
Where to buy ZEC cryptocurrency in the UAE?
Now almost every major cryptocurrency exchange has added this currency to its sales list. You can buy ZCash in UAE and store it directly on the exchange where you purchased it.
To determine the most profitable option to buy coins, you need to pay attention to the fees charged by the services.
If you do not have time or wish to register on exchanger, but you need to buy Zcash, you can buy coins for fiat, for example, through online exchanger or "from hand".
If you search for online exchange services to buy Zcash (ZEC) coins, you will have no problems. Dozens of platforms offer to buy coins for dollars and other fiat currencies, although the exchange rate will be less favorable than on the exchange.
As for buying "from hand", in this case, the buyer and seller sell cryptocurrency without intermediaries. Usually, the parties find each other on thematic forums and specialized sites. It should be noted that such transactions are characterized by an increased level of risk.
Where to store ZEC cryptocurrency?
If you use ZEC coin because of its characteristic privacy, official desktop wallets are the best option for you. A convenient option for managing funds for those who often make transactions from a computer or laptop. Such wallets have rather good level of safety, work quickly and stably.
If safety and security of funds are more important to you, then use hardware wallets. They guarantee a much higher degree of security compared to applications or even cloud services. The device protects against hackers and viruses.
Another option for storing digital coins is cryptocurrency exchanges. On the Internet you can see the rating of cryptocurrency exchanges, which presents both the largest and most reliable, as well as new decentralized and centralized crypto-exchanges, including without verification. The top, in most cases, includes the best and largest cryptocurrency trading platforms. The list of exchanges is constantly updated. Thus, it is possible to choose a suitable platform.
Is ZCash a good buy in the UAE?
Analysts suggest that over the next few years, Zcsach will become a highly sought-after tool for those who value transaction anonymity and don't want to disclose movements in their account. And there are more and more such people, that's why the forecast for ZEC coin is positive.
Important improvements play an important role in the advancement of the project. They will simultaneously increase the performance of the network and strengthen privacy indicators. The first phase has already been completed in the summer of 2018. Future plans include simplifying smart contracts, increasing scalability, and perfecting the consensus mechanism.
ZCash currency can easily be called unique, but still all its uniqueness shows itself only in comparison with other cryptocurrencies. Let's look at the beneficial differences of this coin from its main competitor, with which it is constantly compared - Bitcoin. It is against this background we can see the specifics of the cryptocurrency in question and its main feature, which consists in anonymous transactions.
How does ZCash compare favorably to other digital currencies?
- The first distinctive feature that plays in favor of ZCash is the mining algorithm. Bitcoins are mined mainly by the owners of the asics, which monopolizes the network. In addition, the remuneration of miners is reduced. The ZCash cryptocurrency network also has this principle, but the development team decided not to use the slow start system. Thanks to the fact that no one held the commission, miners were able to get a good profit right away. Naturally, many people liked it, especially since the price of ZCash cryptocurrency increased a lot at the beginning of its formation.
- The second significant advantage of the considered cryptocurrency is the ability to work on the resources of an ordinary PC. Even the standard figures for ordinary computers 4 GB of RAM will be suitable for mining. Of course, the yield calculation is minimal, but much higher than when mining Bitcoin.
- The third distinguishing feature is speed. A block in the ZCash cryptocurrency block is formed in two minutes. That is 4 times faster than in the Bitcoin blockchain. Based on this, transactions in the ZCash blockchain are much faster. In addition, there are no problems with unconfirmed transactions, which noticeably reduce the price of the world's first cryptocurrency. In 2021, the problem of Bitcoin's blockchain impenetrability has become almost global. There are nearly half a million unconfirmed transactions, and the number continues to grow. Naturally, this can't help but worry the community. Especially when it comes to small amounts of money, because in this case the commission is even higher than the amount transferred. But thanks to ZCash cryptocurrency this problem can be avoided.
- And the main thing that attracts users - complete anonymity, observed on the ZCash cryptocurrency platform. The payment system can provide complete confidentiality in contrast to the conditional anonymity of Bitcoin. As mentioned above, it is mathematically ensured. And thanks to the decentralization of the network, it is impossible to pull out even a particle of encrypted information. An innovative cryptographic method is used to confirm the payment and ensure its security.
Is ZCash a good long-term investment?
ZEC is a great long-term investment for anyone looking for a digital currency that allows anonymous transactions. It is an excellent alternative to Bitcoin, which now faces the threat of more regulation by governments.
ZEC is focused on future market expansion. Its competitors in the market are ahead of the leading cryptocurrency, bitcoin, with the same final offering as the 21 million coins.
Doing thorough research on a digital currency before investing helps traders make informed decisions.
Always do your own research, always evaluate your charts to determine patterns, and never consult strangers on social media who seem to say they are experts.
Why has ZCash (ZEC) appreciated?
Zcash (ZEC), a privacy-focused altcoin, has grown more than 225% over the past year. The sudden spike in altcoin prices is caused by a major renewal of the mining consensus.
The ZEC may have jumped sharply after the new development roadmap, but it is still very far from its all-time high of over $ 5,000. The coin has not crossed the $ 1,000 mark for the past five years. While most cryptocurrencies have set new ATHs, breaking the 2017 bullish peak, ZEC appears to be in a long price hibernation.
How to Start Trading ZCash (ZEC)?
Another option for investing in cryptocurrency is through an online trading platform. This is where you can apply CFD trading methods.
Any trade begins with starting capital. Trading digital currencies is available to anyone who is able to invest in buying cryptocurrencies with a minimum deposit of $1.
In the cryptocurrency market, you can multiply your funds many times in one day and lose everything with the same ease. The best solution at first is to practice on a demo account.
Try the platform for free, using a demo account to trade.
One of the advantages of the platform is that it offers not only a professional trading terminal, but also many useful options that can help you as a trader and take you to the next level by offering new knowledge and tools. Here are some of those options:
- Video tutorials and platform training;
- Analytics in the form of various trading charts and indicators that traders all over the world use to improve their trading results and predict the trend direction;
- Minimal step for making transaction - starting from $1;
- Function of pending orders, stop loss and take profit. If Stop Loss limits the amount of losses, Take Profit limits the amount of profits;
- Chats with Traders;
- Huge selection of assets, you can trade hundreds of assets such as stocks, commodities, options, etc.
How to choose the right moment to enter the market for ZEC?
The optimal moment to buy a cryptocurrency is considered to be the period of price decrease.
In the process of trading digital currency, such moments can occur several times during the day. To determine whether the decline in price is really temporary and the cryptocurrency rate will go up or whether you should expect a further decline, will help you to study the history of rate changes.
With trading experience, income will increase and the amount of investment in cryptocurrency will increase. You need to take the first step. The digital currency market environment is conducive to it.
Trading digital currencies is a highly profitable but risky business, a crypto trader is required to fully immerse himself in the trading process, even if there is little start-up capital in circulation.
Having studied all the information about the ZCash project, we can conclude that this cryptocurrency has definitely already taken a strong position in the digital currency market.
Thus, Zcash blockchain is rather an improved version of Bitcoin blockchain, much faster in processing transactions and much better in scaling.
Anyone who is not a first day in the cryptosphere should understand the importance of scalability, as it makes transactions faster, cheaper and more convenient.
The Zcash project has been well supported since its inception. Among others, it was supported by Edward Snowden, who called it "the most interesting alternative to Bitcoin," and it has received private investment from crypto-authorities such as Roger Wehr and Barry Silbert.
It is the complete anonymity of the system that is the unique feature of the cryptocurrency Zcash. Otherwise, it is very similar to Bitcoin, if we consider the version of the progenitor of all coins when it was first formed for comparison. Analysts also noticed the similarity, pointing out that Zcash has a great future - it is possible that it will get the status of the most frequently used cryptocurrency in the world.