Zcash (ZEC) Price Reaches $38.24 on Major Exchanges

Zcash (ZEC) traded up 11.3% against the dollar during the 1 day period ending at 23:00 PM E.T. on October 27th. Over the last seven days, Zcash has traded 5.5% higher against the dollar. One Zcash coin can now be bought for $38.24 or 0.00056474 BTC on cryptocurrency exchanges. Zcash has a market cap of $624.38 million and approximately $71.75 million worth of Zcash was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed over the last 24 hours:

• Bitcoin Gold (BTG) traded up 0.1% against the dollar and now trades at $21.66 or 0.00031991 BTC.
• Horizen (ZEN) traded 3.4% higher against the dollar and now trades at $7.52 or 0.00011105 BTC.
• Pirate Chain (ARRR) traded down 3.1% against the dollar and now trades at $0.18 or 0.00000264 BTC.
• Komodo (KMD) traded 1.8% higher against the dollar and now trades at $0.23 or 0.00000347 BTC.
• ZClassic (ZCL) traded 15.5% lower against the dollar and now trades at $0.0481 or 0.00000071 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its launch date was October 28th, 2016. Zcash’s total supply is 16,328,269 coins. Zcash’s official website is z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. Zcash’s official message board is forum.z.cash. 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 (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 possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView