Zcash Price Hits $550.96 on Top Exchanges (ZEC)

Zcash (ZEC) traded down 3.3% against the U.S. dollar during the 24-hour period ending at 7:00 AM Eastern on May 12th. In the last seven days, Zcash has traded up 30.5% against the U.S. dollar. Zcash has a market capitalization of $9.19 billion and $812.10 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can now be purchased for about $550.96 or 0.00683589 BTC on cryptocurrency exchanges.

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

• Horizen (ZEN) traded 3.9% lower against the dollar and now trades at $6.62 or 0.00008219 BTC.
• Pirate Chain (ARRR) traded 8.3% lower against the dollar and now trades at $0.21 or 0.00000259 BTC.
• Bitcoin Gold (BTG) traded 7.6% lower against the dollar and now trades at $0.46 or 0.00000572 BTC.
• ZClassic (ZCL) traded down 0.6% against the dollar and now trades at $0.18 or 0.00000221 BTC.
• Komodo (KMD) traded down 29.3% against the dollar and now trades at $0.0023 or 0.00000003 BTC.

About Zcash

Zcash (CRYPTO:ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis date was October 28th, 2016. Zcash’s total supply is 16,671,705 coins. The official website for Zcash is z.cash. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. The official message board for Zcash is forum.z.cash.

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”

Zcash Coin Trading

It is usually not presently possible to purchase alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView