Zcash (ZEC) Price Reaches $23.27 on Top Exchanges

Zcash (ZEC) traded 3.4% higher against the US dollar during the 1-day period ending at 20:00 PM Eastern on May 8th. One Zcash coin can currently be bought for $23.27 or 0.00037932 BTC on major exchanges. In the last week, Zcash has traded up 5% against the US dollar. Zcash has a total market cap of $379.94 million and approximately $45.32 million worth of Zcash was traded on exchanges in the last 24 hours.

Here is how related cryptocurrencies have performed in the last 24 hours:

• Bitcoin Gold (BTG) traded 2.9% lower against the dollar and now trades at $34.08 or 0.00055553 BTC.
• Horizen (ZEN) traded 0.2% higher against the dollar and now trades at $8.77 or 0.00014290 BTC.
• Pirate Chain (ARRR) traded 1.6% lower against the dollar and now trades at $0.36 or 0.00000588 BTC.
• Komodo (KMD) traded up 14.8% against the dollar and now trades at $0.43 or 0.00000703 BTC.
• Bitcoin Private (BTCP) traded flat against the dollar and now trades at $0.19 or 0.00000700 BTC.
• ZClassic (ZCL) traded down 4.5% against the dollar and now trades at $0.0535 or 0.00000087 BTC.

About Zcash

Zcash (ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It was first traded on October 28th, 2016. Zcash’s total supply is 16,328,269 coins. 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. The official website for Zcash is z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible 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 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 Gemini, Changelly or GDAX. 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