Zcash (ZEC) Price Hits $42.40

Zcash (ZEC) traded up 1.9% against the US dollar during the 24-hour period ending at 0:00 AM Eastern on August 12th. Zcash has a market cap of $692.33 million and approximately $102.61 million worth of Zcash was traded on exchanges in the last 24 hours. One Zcash coin can currently be purchased for approximately $42.40 or 0.00071949 BTC on popular cryptocurrency exchanges. In the last seven days, Zcash has traded up 41.7% against the US dollar.

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

• Bitcoin Gold (BTG) traded up 0.6% against the dollar and now trades at $22.28 or 0.00037802 BTC.
• Horizen (ZEN) traded up 1% against the dollar and now trades at $8.43 or 0.00014301 BTC.
• Pirate Chain (ARRR) traded 2.2% lower against the dollar and now trades at $0.17 or 0.00000280 BTC.
• Komodo (KMD) traded 5.2% lower against the dollar and now trades at $0.23 or 0.00000385 BTC.
• ZClassic (ZCL) traded up 3.3% against the dollar and now trades at $0.0665 or 0.00000113 BTC.

About Zcash

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 16,328,269 coins. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. The official website for Zcash is z.cash.

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 presently possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to acquire Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. 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