Zcash is a new player in the market and is proudly headed by its founder Zooko Wilcox. Though based on the Bitcoin Blockchain, it is far more advanced owing to its privacy features that makes it all the more alluring. If you are interested in this private cryptocurrency, but wondering how to go ahead and buy it, here’s a quick guide for you.
Get a Zcash Wallet to Buy Zcash
Before you decide to buy ZEC, you first need to install an official Zcash wallet. Zcash wallets are available in both mobile and desktop versions. In order to get an exclusive desktop wallet, you first need to download the Zcash wallet for Windows or Mac. After you have installed it, you can start using the wallet. However, you will not be able to see any of your transactions unless you allow it to sync. After you have synced it with your Zcash address, you can go to the “Own Address” tab, and then click right on the address bar created by the client for you. Next, you can click on “Obtain Private Key” so as to copy it to the clipboard. Have a proper back up for your private key and save it carefully in some secure place, since if you lose access to your private key, you will eventually lose out on all your money. Whoever gets access to your private key has access to all your savings.
After you have saved your private key, click twice on the public address or “Own Addresses” tab to copy it. You can use this address later to transfer your ZEC from an exchange platform to your wallet account. Once you have successfully transferred your currency in the Zcash wallet, you can now opt for Zcash mining, in which you can mine solo or join a pool.
Buy Zcash from Exchange Platforms
You can buy Zcash from partnered platforms like CEX.io or Kraken. You first need to create an account and get it verified (two-tier verifications) so that you can deposit Zcash in it. Once your account has been created, you can click on the “Trade” tab to set up a trading pair. For example, if you have funded your exchange account with Bitcoin, choose for BTC to ZEC pairing (this is the case if you wish to buy Zcash in exchange for Bitcoin). Once you have selected your order and made a purchase, you can transfer your ZEC earnings to your wallet.
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