Zcash (ZEC) is a digital currency that uses cryptography to provide confidentiality to its users, and transactions carried out by users are not made public.
The recommended way to buy Zcash in Australia is: Swyftx
Zcash protects the privacy of its users by shielding transactions—details of the sender, recipient and the amount transacted are usually hidden. However, Zcash is not entirely anonymous as every payment made is visible to the public blockchain.
Should You Buy Zcash at This Time?
Before you consider buying Zcash, you should look at the technical analysis gauge for Zcash, with the indicator displaying the ratings in real-time for the period you select.
The ratings are not a recommendation of whether to buy or sell but rather an insight on technical analysis of ZEC based on indicators such as oscillators, pivots and moving averages.
Factors to Consider When Buying Zcash
ZEC transactions are usually shielded as they employ a type of zero-knowledge cryptography known as zero-knowledge Succinct Non – interactive Arguments of Knowledge (zk – SNARK).
With zk-SNARK, the user’s anonymity is guaranteed since it allows one party to prove if a statement is true without revealing any other information beyond its validity.
Furthermore, zk-SNARK allows details such as the sender, recipient and amount transacted remain private while maintaining a secure ledger.
Other information you should consider before buying ZEC include:
- Use—ZEC is a peer to peer cryptocurrency which uses zk-SNARK to ensure that user transactions remain anonymous. Payments made are usually visible to the public domain, while other details such as the sender, recipient and amount transacted are confidential.
- Availability—ZEC is a popular cryptocurrency available on many crypto exchanges. You can use your credit card or cash to buy ZEC.
- Market competition—ZEC was designed to ensure that user privacy is maintained. However, it does not offer complete anonymity to users. Other cryptocurrencies similar to ZEC and are entirely anonymous include; NavCoin, Husch, CloakCoin, Spectrecoin, Verge, Dash, Monero and Bytecoin.
Where To Buy Zcash
1. Swyftx—Best for Zcash Purchase.
Swyftx is one of the leading cryptocurrency trading platforms in Australia. The platform was launched in 2019, and it has risen in popularity ever since, boasting over 250,000 registered users. With Swyftx, you can buy, sell or trade over 280 assets. Swyftx offers a wide array of easy to use features for new, intermediate and advanced traders.
Before the establishment of Swyftx, there were other well-established cryptocurrency exchange platforms, with several cases of deception, hyperinflation, manipulation and high spread by greedy companies. As a result, Swyfx was created to eliminate these issues.
With Swyfx, users are guaranteed a visually appealing end to end trading platform with excellent customer service, visual portfolio management and no fees charged in withdrawal of AUD to a bank account.
Swyftx allows users to buy bitcoin or other assets quickly using AUD or USD, and many options would enable users to transfer funds to their bank. No fees are charged if you transact through an Australian bank account (deposits or withdrawals). You can also use your debit or credit card to buy crypto on Swyftx.
Pros
- Trusted exchange platform that is regulated
- Offers instant and low trading fees — starting at 0.6%
- Allows users to buy crypto using a Credit or Debit card
- Has over 250 cryptocurrency assets
- Verification is instant
- SMSF onboarding is easy
Cons
- Charges are 2% when you deposit with a credit card
- Only offers instant buying—no order books to trade on
- It does not have features for margin trading
2. Cointree—Range of Depositing Methods
Cointree is one of the most trusted cryptocurrency exchange platforms in Australia. The platform was established in 2013 to offer a safe and easy way for users to trade digital currency and now boasts over 80,000 registered users and transactions amounting to 250 million.
Users on the Cointree platform can trade over 160 digital assets, with the platform offering competitive fees between 0.5 – 0.9%. These competitive fees make the platform the best when you want to deposit AUD and exchange them into digital currencies such as bitcoin and ethereum.
Cointree is a legitimate cryptocurrency exchange platform that is regulated by AUSTRAC. Transactions made within the platform are in strict compliance with the laws and regulations of Australia to minimise the risk of fraud.
Cointree is a safe platform to use as it has security features that protect user information and keep their funds safe. The security measures put in place include; encryption of wallets and personal information, two-factor authentication and SSL certification.
The fee structure on the platform ranges between 0.5 and 0.9%, depending on the traded volume. These trading rates are especially reasonable for investors of high net worth. However, these rates are not suitable for beginners as there are other platforms with cheaper options.
Pros
- Opening an account is easy
- Has a wide range of cryptocurrencies available
- Excellent customer service.
Cons
- Verification is long—you have to wait for 24 – 48 hours.
- Deposits can be made using only one fiat currency.
3. KuCoin—Best for Beginners
KuCoin is an international cryptocurrency trading platform that is fast and easy to use. The platform was established in 2017 and has remained popular globally ever since—data from coinmarketcap ranks KuCoin 8th best based on liquidity, traffic and trading volumes.
Since its inception, the company has amassed over 5 million registered users in over 200 countries. The platform is well established in Japan, South Korea, Italy, Vietnam, Turkey, India, Russia and Spain.
KuCoin offers innovative services for its users such as future markets, margin trading, spot exchange, swap crypto with zero fees, lending services to earn interest, purchasing digital currency using a credit or debit card and staking profits.
This crypto exchange is among the best trading platforms since it has over 200 blockchain projects and more than 400 trading pairs. The platform is ideal for trading altcoins or portfolio diversification. Investors can purchase cryptocurrencies using 46 fiat currencies, including; USD, CNY, EURO and GBP.
Pros
- It’s cost effective-Very low withdrawal, deposit, and trading fees.
- Simple and easy to understand- ideal for beginners.
- It has a good range of coins, including recently released cryptocurrencies.
- Good security features.
Cons
- Incognito trading- no verification.
4. Digital Surge—Best for Ease of Use
Digital surge is a cryptocurrency exchange that offers a simple system to buy and sell crypto in the Australian digital currency market. The key feature of this system is its simplicity as it provides a uniquely simple method of exchange; thus, it makes crypto comprehensible and enjoyable.
Digital Surge is based in Brisbane, and it is a united team focused on establishing trust and transparency within the crypto society. Furthermore, the team is friendly and also participates in community events aimed at creating awareness about the industry.
Compared to other exchanges in Australia, Digital Surge is among the cheapest cryptocurrency exchanges. Its maximum fee for buy and sell trades is 0.5% which is a lower fee when compared to other reputable providers like CoinSpot (1%), BTC Markets (0.85%) and Swyft, which offers a fee of 0.6%.
The fee offers to get better when you trade large amounts. For instance, the fee can be reduced to 0.1% for every trade above $1 million in a period of 30 days. Additionally, the spreads average 0.4% to each transaction over the 270 supported coins.
Generally, Digital Surge is arguably the cheapest platform in Australia to purchase altcoins because of its low trading fee and spreads—giving excellent value for your money.
Pros
- The command-line interface is straightforward and intuitive, making it perfect for beginners.
- Low fees and clear fee structure.
- It takes only a few minutes to sign up and begin investing.
- Easy accessibility as you can get trigger orders, recurring purchases and price notifications.
- Customer service is available 24/7 via email and chat.
Cons
- AUD is the only choice available for fiat deposits, which is a minor issue for most Australians.
- You can’t fund accounts using credit cards.
- A spot market is only available for ETH-AUD and BTC-AUD.
5. CoinSpot—Best for Multiple Cryptocurrencies
CoinSpot is a cryptocurrency exchange based in Melbourne, Australia, that offers a secure site to sell cryptocurrencies. Users trade the open market to venture and bring in potential profits while also buying or selling bitcoins at any time.
It is a legalised company licensed under Casey Block Services Pty Ltd ABN 19 619 574 186, trading as CoinSpot. The highly governed Australian financial sector regulates CoinSpot’s exchanges to warrant bona fide operations and conduct with investors money.
This cryptocurrency exchange observes the new strict AML/CTF laws put in place by AUSTRAC to guarantee the safety of user accounts. Furthermore, CoinSpot presents security measures similar to banks’ to ensure the safety of clients’ information and accounts.
CoinSpot also uses the two-factor authentication system (2FA), just like other exchanges. The 2FA system entails using a mobile phone code to access the site, and it’s the standard security protocol for exchanges globally.
There is a registration process for new users in the CoinSpot platform. The process is quite simple; visit the website, go to the top of the page, click ‘Register’, fill out the details, and click “Create Account”.
After registration, CoinSpot will prompt an e-address to confirm the user’s access to the email address submitted. The account creation process comes to completion after verifying the email address to log in to your new account for the first time.
Pros
- The headquarters of the local exchange is based in Australia (since 2013).
- Enables users to buy directly in AUD.
- Straightforward user-interface.
- Large assortment of cryptocurrencies.
- Compliant with the laws of AML/CTF
- Extra services like OTC trading, SMSF support and mobile app.
Cons
- Only available in AUD.
- Lacks margin trading.
FAQs
1. Is Zcash A Good Investment In 2021?
Yes, Zcash is a good investment in 2021. According to the 2021 forecast, the price is forecasted to reach 250 USD. Other predictions also indicate that the high price for 2021 could be approximately $280, and the low price could be roughly $180.
2. How Do I Buy Zcash?
The simplest and quickest way to buy ZEC is via a digital exchange platform like Swyftx. You can trade ETH and BTC for ZEC or use local fiat currency. When choosing a Zcash exchange, you need to consider the following factors: volume, reputation, fee structure and security.
3. Where Can I Invest In Zcash?
You can purchase Zcash on Coinbase via their broker site, which is simple but more costly or use the Coinbase Pro trading platform if you’re an advanced user. The payment methods available in Coinbase are debit cards and domestic transfers like SEPA and ACH. Only users from 103 countries globally can access the Coinbase platform.
4. Will Zcash Go Back To All-Time High?
Yes, Zcash will go back to an all-time high. According to analysts’ predictions, Zcash will rise sooner or later, making it a highly profitable investment.
5. Is Zcash Better Than Bitcoin?
Yes, even though the mining reward for bitcoin and Zclash cloud is currently equal, set at 12.5 ZEC per block, ZEC’s value varies compared to bitcoin. This variation enables Zcash miners to apply a more basic setup, including GPUs and CPUs, decreasing possible startup costs.
6. Is Zcash A Bitcoin?
Zcash is a cryptocurrency that uses cryptography to offer its users enhanced privacy compared to other cryptocurrencies like Bitcoin. Zcash is founded on the Bitcoin codebase. Zcash and Bitcoins have many similarities, like a fixed overall supply of 21 million units.
Buy ZCASH With Swyftx
We recommend that you buy ZCash with Swyftx because it is safe and comes with several security layers to secure your fund. Additionally, Swyftx applies the cold wallet storage and Two Factor Authentication (2FA) system to keep clients’ accounts safe. In other words, buying Zcash on Swyftx will be safer as you’re guaranteed security for your funds.
