Zcash Price Reaches $40.46 (ZEC)

Zcash (ZEC) traded 2.5% lower against the U.S. dollar during the twenty-four hour period ending at 18:00 PM E.T. on August 11th. One Zcash coin can now be bought for $40.46 or 0.00068847 BTC on major exchanges. Zcash has a market cap of $660.69 million and $89.90 million worth of Zcash was traded on exchanges in the last 24 hours. During the last seven days, Zcash has traded up 29.2% against the U.S. dollar.

Here is how similar cryptocurrencies have performed during the last 24 hours:

• Bitcoin Gold (BTG) traded 5.1% lower against the dollar and now trades at $22.16 or 0.00037704 BTC.
• Horizen (ZEN) traded 3.8% lower against the dollar and now trades at $8.36 or 0.00014227 BTC.
• Pirate Chain (ARRR) traded down 1.2% against the dollar and now trades at $0.17 or 0.00000293 BTC.
• Komodo (KMD) traded down 3.5% against the dollar and now trades at $0.24 or 0.00000406 BTC.
• ZClassic (ZCL) traded 30.4% higher against the dollar and now trades at $0.0645 or 0.00000110 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 official message board for Zcash 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. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here.

According to CryptoCompare, “ZCash is a privacy driven cryptocurrency. It uses the Equihash as an algorithm, which is an asymmetric memory-hard Proof of Work algorithm based on the generalized birthday problem. It relies on high RAM requirements to bottleneck the generation of proofs and making ASIC development unfeasible. ZCash uses zero-knowledge Succinct Non-interactive Arguments of Knowledge (zk-SNARKs) to ensure that all information (sender, receiver, amount) is encrypted, without the possibility of double-spending. The only information that is revealed regarding transactions is the time in which they take place.Blockchain data provided by: Blockchair (Main Source), Zchain Explorer (Backup)Telegram”

Buying and Selling Zcash

It is usually not 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 Changelly, Coinbase 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