Zcash Trading 6.9% Lower This Week (ZEC)

Zcash (ZEC) traded 1.3% lower against the dollar during the 1-day period ending at 8:00 AM E.T. on August 16th. Zcash has a total market cap of $8.16 billion and $172.17 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be bought for about $485.07 or 0.00770541 BTC on popular cryptocurrency exchanges. During the last week, Zcash has traded 6.9% lower against the dollar.

Here’s how other cryptocurrencies have performed during the last 24 hours:

• Horizen (ZEN) traded down 0.7% against the dollar and now trades at $3.98 or 0.00006330 BTC.
• Pirate Chain (ARRR) traded 5.7% lower against the dollar and now trades at $0.20 or 0.00000318 BTC.
• Bitcoin Gold (BTG) traded 0% lower against the dollar and now trades at $0.39 or 0.00000623 BTC.
• ZClassic (ZCL) traded 22.2% lower against the dollar and now trades at $0.18 or 0.00000279 BTC.
• Komodo (KMD) traded 65.6% lower against the dollar and now trades at $0.0059 or 0.00000009 BTC.

Zcash Coin Profile

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 16,822,605 coins. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. Zcash’s official website is 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 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”

Buying and Selling Zcash

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

ZEC/USD price chart by TradingView