Want to make a transaction, but completely hide the amount from prying eyes? Introducing Zcash. It has the ability to protect the privacy of transactions using zero-knowledge cryptography.
This article had a very slight update on October 2, 2018.
“If Bitcoin is like http for money, Zcash is https—a secure transport layer.” – Zcash
Table of Contents.
- 1 Zcash
- 2 Value Activity
- 3 How to buy ZEC in the Philippines
- 4 Update – Buy Zcash o Abra
- 5 Buy Zcash on Binance
- 6 Buy Zcash on Changelly Using Credit Card
- 7 Update: Mar. 28, 2018: Buy Zcash from Abra:
- 8 Step by Step Guide to Buy Zcash from the Philippines Using Bittrex
- 9 Recommended Zcash/ ZEC Wallets
- 10 Can I send my Zcash back to Coins.ph or Bitbit?
- 11 Overall
Bitcoin and most altcoins have a transparent transaction history. Anyone can check a public address and look at how many coins it has.* Zcash makes everything anonymous.
With Zcash’s “shielded transactions”, both parties can choose to anonymize the transaction completely.
*Note that anyone can check the funds in a public address but there is no way to know who is the person behind it.
How does it work?
For example, Person A wants to send 1 ZEC to Person. Both of them have to use their “z-addr”. The miners will then approve the transaction using *zk-SNARKS. If they want to use the conventional transaction, they can use their “t-addr” or transparent address.
*zk-SNARKS – Zero-Knowledge Succinct Non-Interactive Argument of Knowledge – It is the process of proving a transaction without revealing any information.
ZEC coins price surged on December 2017 around $308.51 a piece. It reached its highest on January 8, 2018 of around $876.31. As the time we write this, ZEC’s price is around $284.54.
How to buy ZEC in the Philippines
Update – Buy Zcash o Abra
Abra supports depositing fiat via local banks and through credit cards. You can exchange bitcoins for ADA within the Abra App. Should in case you want to cash out, you can do via partner merchants like Tambunting.
- Download Abra here! (It will ask for your mobile number, start with the PH area code 63.)
- Buy cryptocurrency on Abra through credit card!
Buy Zcash on Binance
Binance is one of the world’s largest cryptocurrency exchange based on volume. You can purchase Zcash on Binance with your bitcoins.
- Register with Binance here.
- Send your bitcoins from your Coins.ph wallet (or any other bitcoin wallet) to your bitcoin wallet address on Binance.
- Search for Zcash on Binance’s homepage.
- Proceed to trade your bitcoins for Zcash.
- Click here for steps on purchasing altcoins on Binance.
Buy Zcash on Changelly Using Credit Card
The Changelly platform allows anyone to purchase supported altcoins using credit card or debit card. You can also trade your bitcoins (and other altcoins) to trade to Zcash.
CEX.io is another reputable platform where you can trade fiat with cryptocurrency like Zcash.
Update: Mar. 28, 2018: Buy Zcash from Abra:
What if the exchange does not accept new users?
Lately, a lot of crypto enthusiasts are having a hard time registering to a crypto exchange site. If this is the case, feel free to choose another secure exchange site. The interface may change but the process of trading Bitcoin to an altcoin is almost the same.
Step by Step Guide to Buy Zcash from the Philippines Using Bittrex
- Send bitcoins from Coins.ph to your BTC wallet in Bittrex.
- Go to Bittrex’s ZEC page.
- Buy ZEC using instructions in this article.
- Once you are done, transfer your coins from Bittrex to your ZEC wallet.
Recommended Zcash/ ZEC Wallets
You can check the full list of ZEC Wallets HERE!
Can I send my Zcash back to Coins.ph or Bitbit?
No. Bitbit only supports Bitcoin and Coins.ph has the ability to support BTC, ETH, and BCH.
If you want to thread extra careful about your cryptocurrency transactions, Zcash is your answer. They also shared that users of Zcash can get to enjoy the advantages of a public blockchain while making their information private.