You can buy ZCash (ZEC) on almost all major exchanges, including Binance, Coinbase, and Kraken, with payment options such as fiat, credit cards, debit cards, cash transfers, internet banking, and other methods.
- Buying ZCash (ZEC) on a Centralized Exchange
- Register on a Centralized Exchange
- Do Your KYC and AML Compliance
- Load Fiat in your Exchange Wallet
- Buying ZCash (ZEC)
- Selling ZCash (ZEC)
- Taking Self-Custody
- Buying ZCash (ZEC) on a Decentralized Exchange
- To Buy on a Decentralized Exchange:
- Load Stablecoins
- Choose a DEX
- Swap Stablecoins or Crypto for ZCash
- Bridging Tokens to a Chain of Choice
- Frequently Asked Questions
A detailed purchase process is explained below via both CEXs and DEXs.
Buying ZCash (ZEC) on a Centralized Exchange
Buying on a CEX offers ease of purchase for new users and for users who aren’t concerned primarily about privacy.
Register on a Centralized Exchange
Buying ZCash (ZEC) is easiest when you buy from a centralized exchange like Binance, Kraken, Bybit, KuCoin, etc.
To register on these exchanges, you first need to sign up with an email ID and, perhaps, a phone number.
Once done, ensure you complete your profile before proceeding with KYC verification.
Do Your KYC and AML Compliance
You might need to provide basic information such as your national ID, passport, and country-specific tax information, and, depending on the platform, perhaps some proof that the funds are from legitimate sources.
Load Fiat in your Exchange Wallet
Exchange wallets need to be either loaded with fiat or other cryptocurrencies via direct transfer. Loading with fiat is often more recommended because it makes tax compliance easy later on.
Buying ZCash (ZEC)
Rather than searching different cryptocurrency pairs, search for ZCash with the ticker symbol ZEC and select the most relevant result.
Make sure you get the correct coin by matching name, symbol, logo, and price. You can get the price from a trusted third-party source like CoinMarketCap, CoinGecko, or DroomDroom.
Selling ZCash (ZEC)
To sell ZCash at any time, click your exchange wallet, select ZCash, choose the amount you want to sell, and complete the transaction. You can choose the amount in terms of ZEC or fiat.
Taking Self-Custody
Taking self-custody is far more essential because exchanges do fail in rare cases like FTX. Further, you can avoid wallet seizures if your country enforces a strict ban on privacy coins like Dubai in UAE.
Buying ZCash (ZEC) on a Decentralized Exchange
Buying ZCash on a decentralized exchange is the preferred way because it allows users to retain their privacy when buying a privacy token like ZCash.
To Buy on a Decentralized Exchange:
Load Stablecoins
Stablecoins are the most common way of buying cryptocurrencies on decentralized exchanges. Users simply swap them for the currency they wish to buy.
However, ensure that you have a native token to pay for the gas fees, i.e., transaction costs on these chains, such as Ethereum, when trading on an Ethereum-based DEX, and the same applies to other chains.
Choose a DEX
ZCash is available as a wrapped token in Uniswap (Ethereum) and Raydium (Solana). Unlike Ethereum, ZCash is available on Solana via a direct bridge between ZCash and Solana called the Zolana Bridge.
Wrapped tokens have the same value as native ZCash and can also be transferred to the native chain, i.e., ZCash blockchain via a suitable bridge.
Swap Stablecoins or Crypto for ZCash
Once on the page, connect your wallet and enter the amount of ZCash you wish to buy. Sign the transaction, and you will find the tokens in your own wallet.
Ensure you have the DEX’s native token to pay gas fees.
Bridging Tokens to a Chain of Choice
You can securely bridge ZCash to its native blockchain. This step is recommended because privacy tokens always remain a target of regulatory authorities, and seizures or bans can happen at any time.
Frequently Asked Questions
Is buying ZCash legal in my country?
Several countries, like the UAE, explicitly ban privacy tokens like ZCash in part of their territory. Please consult your country’s laws for better information.
