How to Buy Zcash in the UK
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Zcash (ZEC) is a decentralised, blockchain-based cryptocurrency that, as a privacy coin, focuses on data security and the anonymity of its users. In this way, Zcash aims to offer its users greater data security than Bitcoin.
So-called privacy coins (see also Verge or Monero) specialise in keeping the identity of buyers and sellers secret. As for Bitcoin, there is a fixed unit maximum of 21 million coins for Zcash. Zcash adheres to the open source principle; the code can be viewed in the Zcash github.
Buying Zcash: What you should look out for
We have dealt intensively with Zcash and now explain how best to buy the coin. These are the aspects you should pay attention to when buying:
Where is the best place to buy Zcash? We recommend our test winner eToro.
Do you want to hodle Zcash or speculate on the price daily? That depends on your private goals.
How does a Zcash wallet work? Quite simply, as eToro offers its own wallet.
Is it worth investing in Zcash? The coin has growth potential
Where to buy cheap Tron? Our broker and exchange comparison - buy Tron with the lowest fees:
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Trade real cryptos and crypto CFDs |
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Broker fully regulated |
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Large selection of coins |
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Many cryptos to choose from |
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Huge selection of coins |
Buy Zcash for beginners in 3 steps:
Zcash is offered at several brokers and crypto exchanges. We have tested the best crypto exchanges for you and explain below the easiest way to buy Zcash.
If you want to start trading Zcash, you first have to decide which way you want to invest in Zcash. You have to decide whether you want to buy Zcash to hold it in a similar way to gold, for example, and sell it again at a later date for a profit - then you need an exchange.
If instead you are looking for a strategic investment, where instead of buying a coin you bet on its performance, crypto brokers are a better choice for you.
We use the broker eToro when buying Zcash, as this broker offers both real cryptocurrencies and CFDs - Etoro thus combines the advantages of brokers and crypto exchanges.
First step: Registering with a broker or crypto exchange
First we register with Etoro: To do this, we click on the link to register with eToro:
In the form we enter our username, email and password and accept the terms and conditions:
Afterwards, we receive an e-mail for verification in which we click on the confirmation link. Our account is now created.
Second step: Top up our account
In the second step we need to fund our account with money to buy our Zcash. To do this, we click on the "Deposit Money" button at eToro.
We then select the deposit amount and payment method and click on the "Send" button to deposit our money.
Buy Zcash with PayPal, Sofortüberweisung and more
eToro offers almost all deposit methods:
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Payment option |
possible? |
|---|---|
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Buy Zcash with credit card |
ok |
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Buy Zcash with PayPal |
ok |
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Buy Zcash with SOFORT Bank Transfer |
ok |
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Buy Zcash with Rapid Transfer |
ok |
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Buy Zcash with Skrill |
ok |
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Buy Zcash with Bank Transfer |
ok |
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Buy Zcash with Neteller |
ok |
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Buy Zcash with UnionPay |
ok |
Third step: Buy Zcash
After depositing, we can buy our Zcash. To do this, click on the search and enter "Zcash". Then click on the "Trade" button.
Now the purchase window opens, where you have the following options:
- Buy or sell: In our case we have to click on "Buy".
- Trade or order: Here we can choose whether we want to execute the trade immediately (trade) or delayed (order).
- Amount: The amount of Zcash we want to buy.
- Stop Loss and Take Profit: At which loss or profit our position should be sold automatically.
- Leverage: With what leverage we want to buy Zcash. With leverage X1 we buy real Zcash, with leverage X2 we buy leveraged Zcash CFDs.
After we have configured the purchase options, we click on the "Open Trade" button to complete the purchase. We have now successfully bought Zcash.
To invest in Zcash or not?
Buy Zcash? Or is it better not to? We summarise the pros and cons around this question for you:
Pro und Contra Zcash-Investition
Pros
Cons
What are the fees for buying Zcash?
We compare the fees when buying Zcash by using the following example:
We buy €1,000 worth of Zcash.
We hold our Zcash for 30 days and then sell it again.
We assume that the exchange rate will not change during the 30 days.
With such assumptions, we now compare the fees of the biggest Zcash providers:
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Provider |
etoro |
coinbase |
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Deposit |
free of charge |
3,99% |
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Purchase fees |
2,9% |
1,49% |
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Holding fees |
free of charge |
free of charge |
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Sales charges |
2,9% |
1,49% |
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Payment |
5 USD |
0,15 USD |
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Total fees |
62,16€ |
68,24€ |
Current Zcash rate
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Current price in USD |
164,88$ |
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ZCash rate Euro |
135,75€ |
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Total market value in USD |
$1.838.426.467 |
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Total market value in EUR |
1.513.576.576 € |
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Price change within the last 24h. |
+5,14% |
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Updated |
17.02.2021 at 17:00 |
Zcash price history: Important moments in the Zcash price history
Since the Zcash ICO 2016, there have already been several events in the Zcashm share price which we now show:
Broker and exchange in one: eToro
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
Trade Zcash with or without a wallet?
As a general rule, a wallet is always the safest place to hold your assets. If your coins and tokens are stored on an exchange instead, you may lose access to them - for example, if the exchange is hacked or unexpectedly goes bankrupt.
Using a wallet is not necessarily more complicated than using the usual exchange platforms. A wallet is therefore recommended in any case.
However, the use of a wallet is not mandatory for trading with Zcash. Those who are free of fear can also simply hold their Zcash on the account of one of their crypto exchanges.
On Zcash's corporate website, a number of compatible wallets are presented, you can find the listing here. Even better is the big crypto wallet comparison of our crypto scene editors.
By the way, if you invest in Zcash CFDs with brokers instead of buying the cryptocurrency directly, you don't need a wallet for trading.
Buy ZCash Conclusion
The cryptocurrency Zcash is a well-traded and established privacy coin on the exchanges, but it has very strong competitors. You can invest in Zcash CFDs or buy the currency directly. We recommend eToro for this.
Buying Zcash with credit card, Paypal or Sofortüberweisung is possible. We have presented all these investment options step by step in this article. For buying Zcash we recommend eToro!
In summary, it can be said that the Zcash forecast looks quite good, but it is difficult to estimate which privacy coin will establish itself in the long term. Those who invest should therefore regularly follow the Zcash news.
FAQ
You can basically distinguish between two forms of investment in Zcash: Speculating on prices via CFD brokers such as our test winner and buying Zcash directly via a crypto exchange such as Binance.
Buying Zcash with a credit card is possible on the exchanges we recommend, Binance and CEX.
Our test winner in the area of crypto brokers also accepts credit card payments.
As a rule, crypto exchanges do not offer the payment option Paypal. One exception is the CFD broker eToro, where you can speculate on the performance of Zcash.
Options brokers only use cryptocurrencies as assets, while exchanges enable direct trading of the assets.
So anyone who actually wants to buy Zcash will have to go via a crypto exchange.
That depends on whether Zcash holds its own against competitors like Monero, Verge or Dash in the long term and how the cryptocurrency market as a whole continues to develop.
Not necessarily. If you buy Zcash on Binance, for example, you can hold it there. However, we recommend a wallet to avoid unforeseen complications on the exchanges.
Zcash is not based on the ERC-20 standard and is therefore not supported by Ether wallets.