Buy ZCash (ZEC) in Kenya
ZCash is a cryptocurrency with a decentralised blockchain that provides anonymity for its users and their transactions. As a digital currency, ZCash is similar to Bitcoin in many ways, including the open-source feature. Still, their main differences lie in the level of privacy and interchangeability that each provides.
Let's dive into the fascinating world of an anonymous crypto-asset and find out what Zcash is, how to buy Zcash or invest in Zcash.
What is Zcash
The success of Bitcoin, which was launched in 2009, paved the way for hundreds of alternative altcoins (altcoins), some of which have succeeded while others have not found universal popularity.
As the demand for privacy grew and data became easily accessible, cryptocurrency users began looking for other digital currencies to fill the privacy hole that Bitcoin failed to.
Digital currencies such as Dash and Monero provide sophisticated anonymisation methods that hide transactions and the parties involved in those transactions.
The digital currency ZCash appears to provide an even greater level of interchangeability, allowing users to remain completely anonymous. It turns out that users can buy ZEC to preserve their anonymity.
The currency code for ZCash is ZEC.
Ways to buy and sell cryptocurrency
There are two main ways to buy Zcash in Kenya:
1. Сryptocurrency exchanges.
Exchanges are platforms where you can both buy Zcash and sell. The most well-known and reliable exchanges are:
They are listed as recommended platforms for exchanging Zcash from official developers. You can also choose other centralised or decentralised exchanges. The most important thing is that you trust this exchange.
2. Cryptocurrency interchanger.
You can also purchase cryptocurrency through an interchanger. However, in this case, you will not be able to trade.
How to invest in ZCash in Kenya?
Anyone can invest in ZCash in Kenya, but how to choose an effective method?
We offer you CFD trading. CFD trading is convenient and actively used by all stock market participants, allowing multiple trades of buying and selling not only crypto assets but also securities, currency pair services with minimal cash.
The Contract for Difference (CFD) is the most profitable instrument at stock exchanges, allowing for quick earnings with a minimum of free money and not burdening participants with property rights. As a result, most stock exchange transactions are carried out using CFDs.
A contract is made between the parties, one of the conditions of which is a rise or fall in the price of particular securities or other assets. When this happens, the difference between the initial price of the securities and its future valuation goes to the buyer or the seller, depending on how the terms of their contract are fulfilled. However, the shares, like Abbvie themselves do not change ownership.
Who invented Zcash?
On 28 October 2016, Zcach CEO Zuko Wilcox held an official "crypto ceremony" to launch the new cryptocurrency Zcash, the world's first cryptocurrency based on the zero-knowledge proof interactive cryptographic protocol.
The principle of this protocol implies that one of the interacting parties can verify the validity of a mathematical assertion without any other information from the other party.
In essence, Zcash is the first genuinely anonymous currency. The technical description of the protocol could well be the subject of a PhD thesis in cryptography.
Zuko Wilcox has 20 years of experience in distributed systems, cryptography, and cybersecurity. He is known for his many academic papers in computer science and startups, including DigiCash, Mojo Nation, ZRTP, Zooko's Triangle, Tahoe-LAFS, BLAKE2, SPHINCS. Wilcox also co-founded the Least Authority project.
Zcash (ZEC) also has a reasonably advisory solid unit, with many cryptocurrency stars among its advisers: Vitalik Buterin (Ethereum), Gavin Andersen (Bitcoin Core), Arthur Breitman (Tezos), largely determines Zcash cryptocurrency outlook.
Benefits of Zcash
Undoubtedly, anyone wishing to invest in ZCash or buy ZEC should be aware of the cryptocurrency's advantages and disadvantages. This will help the user refine their trading strategy and choose the right time to invest and grow their capital.
1. The first distinctive feature that plays to ZCash's advantage is the mining algorithm. The development team decided not to use a slow start system. Thanks to the fact that no commission was withheld, miners could make good profits right away. Naturally, many people liked this significantly since the price of the ZCash cryptocurrency was rising dramatically in its early days.
2. The second significant advantage of the cryptocurrency in question is the ability to run on the resources of an ordinary PC.
Even the standard 4GB of RAM on a standard PC will do mining. Of course, the yield calculations are minimal but much higher than for mining bitcoin.
3. Another advantage is the speed. For example, a block in the ZCash cryptocurrency blockchain is formed in two minutes. That's four times faster than the bitcoin blockchain.
Given bitcoin's problems: low transaction speeds and high fees, Zcash has a lot of promise. The same goes for anonymity.
As already mentioned, it is ensured mathematically. Due to the network's decentralisation, it is impossible to pull out a single piece of encrypted information. An innovative cryptographic method is used to confirm the payment and ensure its security.
Disadvantages of Zcash
Like any cryptosystem, this one also has its disadvantages. For example, the peer-to-peer decision of six users makes it possible to leave transfer information open.
The development of the cryptocurrency system is hampered by the need for multiple calculations to complete the transaction.
In addition, there is the possibility that the system could be hacked by intruders or the users themselves would put sensitive information online.
The cryptosystem runs on a Linux operating system, and the creators of the coin have no plans to change the OS at this time.
What are the key features and capabilities of Zcash?
Low commission (0.0001 Zcash) transactions.
2. Addresses and privacy of transactions.
The protocol contains two types of addresses: transparent "t"-addresses and private "z"-addresses.
ZEC can be forwarded between "t"-addresses and "z"-addresses, but only transactions between "z"-addresses and "z"-addresses are entirely private. There are four types of transactions in the ZCash network:
- Public: t-address -> t-address;
- Protected: t-address -> z-address;
- Unmasked: z-address -> t-address;
- Private: z-address -> z-address.
3. Encrypted memo fields (memo fields).
The memo field is available for secured transactions, allowing the sender to include information relevant to the recipient fully encrypted form.
4. Viewing keys.
Secure address holders can disclose details of transactions for auditing and regulatory compliance checks. The address owner can disclose all incoming transactions and memo field content.
5. Transactions with multi-signatures.
Zcash supports multi-signature transactions: two or more parties must be approved to transfer funds. Unfortunately, multi-signature transactions cannot be used with z-addresses.
Why invest in Zcash?
ZCash is one of the safest and most private cryptocurrencies, Monero, DASH, Verge, Horizen and Beam.
In defining itself, ZCash adheres to the following statement and bases its argument on these facts: "If Bitcoin is like HTTP for money, Zcash is HTTPS," highlighting its improved security and privacy features.
Zcash has implemented a cryptographic tool called Zero-Knowledge Proof and gives participants the ability to secure transactions. This allows participants to make transactions without revealing their addresses to other participants. Zero-Knowledge Proof also hides the amount of the transaction. Zcash, on the other hand, is mined similarly to most other cryptocurrencies.
When investors want to funnel their money into the virtual world, privacy is one of the feats they cannot do without. Consequently, ZCash as a cryptocurrency remains a secure operator and prevents many attempts at malicious hacking because of the cryptography on which it is built. Moreover, all transactions are safe and cannot be penetrated by unknown users.
We have all witnessed the rise in the value of cryptocurrency over the past decade, especially since the COVID-19 pandemic. As a result, bitcoin adoption has been growing steadily, and it could continue to do so throughout 2021. On the other hand, recent updates only reinforce this fact, such as Tesla's $1.5 billion investment in bitcoin. Henceforth, this only encourages banks and institutions to act and join these newly emerging circumstances.
The compatibility of the facts above, together with the well-conducted research on which ZCash is built, shows all interested investors that this money direction will do no harm. Furthermore, the dedicated team of security engineers in charge of the hegemon ZCash has recently become ensures that the platform is safe for all parties involved and that no monetary loss is expected.
The credibility of the information provided by the company, along with its security lines, makes it a great place to invest for future-oriented thinkers who would like to be part of the cryptocurrency world.
According to forecasts, ZCash is a cryptocurrency that remains one of the safest from the aforementioned malicious attempts and one of the cryptocurrencies with the highest growth potential.
The decision is up to you. We recommend that you learn something new every day, improve your trading skills and do everything you can to increase your chances of success. We wish you progress and good luck!