Zcash (ZEC) Price Hits $38.12

Zcash (ZEC) traded 2% higher against the U.S. dollar during the twenty-four hour period ending at 20:00 PM Eastern on October 22nd. Zcash has a total market capitalization of $622.44 million and $64.57 million worth of Zcash was traded on exchanges in the last 24 hours. Over the last week, Zcash has traded 1.5% higher against the U.S. dollar. One Zcash coin can now be bought for approximately $38.12 or 0.00056519 BTC on cryptocurrency exchanges.

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

• Bitcoin Gold (BTG) traded down 0.7% against the dollar and now trades at $22.81 or 0.00033820 BTC.
• Horizen (ZEN) traded 1% lower against the dollar and now trades at $7.93 or 0.00011751 BTC.
• Komodo (KMD) traded 0.1% higher against the dollar and now trades at $0.26 or 0.00000385 BTC.
• Pirate Chain (ARRR) traded 2.5% lower against the dollar and now trades at $0.17 or 0.00000255 BTC.
• ZClassic (ZCL) traded up 6.2% against the dollar and now trades at $0.0573 or 0.00000085 BTC.

Zcash Coin Profile

ZEC is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its launch date was October 28th, 2016. Zcash’s total supply is 16,328,269 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. The official message board for Zcash is forum.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 currently possible to purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to acquire Zcash should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, 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