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How to buy Zcash (ZEC) in Canada
Learn how to buy Zcash (ZEC) on 22+ crypto exchanges in our step-by-step guide.
You can buy Zcash (ZEC) on a cryptocurrency exchange like Kraken. These specialised marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Zcash (ZEC) is a decentralised open-source cryptocurrency that offers transaction privacy through the use of zero-knowledge cryptography. Here's how to buy Zcash.
How to buy Zcash in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy Zcash is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – apple pay, google pay, visa and mastercard debit/credit card and credit card payments are widely accepted.
You can now exchange your funds for Zcash. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Zcash to your personal wallet.
Where to buy Zcash in Canada
Find an exchange to buy, sell and trade ZEC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Zcash?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Canada to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Zcash?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Zcash.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing ZEC with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Zcash with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy ZEC with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy ZEC on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase ZEC by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for ZEC on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Zcash?
The easiest way to buy ZEC is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying ZEC, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Zcash has been performing recently.
Best Zcash wallets to store your ZEC
You can keep your ZEC on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Recent Zcash developments
Is Zcash a good investment?ZEC uses a zero-knowledge cryptography, known as zk-SNARK (zero-knowledge Succinct Non-interactive Arguments of Knowledge), developed by the team behind ZEC. Zero-knowledge proof works by allowing one party to prove to another that a statement is true without revealing any information beyond the validity of the statement. This allows the network to maintain a secured ledger while keeping sender, recipient and amount transferred private. In addition to this, you should consider the points below if you want to buy ZEC:
- Use — ZEC is a peer-to-peer cryptocurrency which uses zero-knowledge cryptography. While transaction payments are visible on the public blockchain, participants and amounts are hidden.
- Availability. ZEC is one of the more popular cryptocurrencies and is available on a number of crypto exchanges. You can also buy ZEC with a credit card and with fiat currencies.
- Market competition. ZEC is a privacy-oriented cryptocurrency but does not provide full anonymity. Cryptocurrencies similar to ZEC, some of which are completely anonymous, are Monero, Bytecoin, Dash, Verge, Spectrecoin, CloakCoin, Hush, NavCoin and PIVX.
Additional information about Zcash can be found using our ZEC analysis tools.
Today's Zcash price versus ATH
Compare today's price of Zcash ($56.34 USD) against its all-time-high price of $3191.93 USD on 29 October 2016. The closer the bar is to 100%, the closer ZEC is to reaching its ATH again.
ATH date: October 29, 2016
Zcash ATH: $3191.93
How to trade, convert or sell ZcashYou can convert or sell your ZEC with the same exchange you bought it through:
- Sign in to the exchange you have ZEC on.
- If you store your Zcash in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of ZEC you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Zcash.
- Complete your transaction and move your ZEC to a wallet for storage.
Disclaimer: Cryptocurrencies, including Zcash, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of ZEC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Zcash or any other cryptocurrency discussed.
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