Zcash Price Up 7.4% Over Last 7 Days (ZEC)

Zcash (ZEC) traded 2.4% lower against the U.S. dollar during the 24-hour period ending at 7:00 AM E.T. on August 8th. Over the last week, Zcash has traded up 7.4% against the U.S. dollar. One Zcash coin can currently be purchased for approximately $498.05 or 0.00767118 BTC on exchanges. Zcash has a market cap of $8.37 billion and approximately $267.49 million worth of Zcash was traded on exchanges in the last 24 hours.

Here’s how related cryptocurrencies have performed over the last 24 hours:

• Horizen (ZEN) traded up 0.6% against the dollar and now trades at $4.07 or 0.00006276 BTC.
• Pirate Chain (ARRR) traded up 0.4% against the dollar and now trades at $0.24 or 0.00000363 BTC.
• Bitcoin Gold (BTG) traded 38.4% higher against the dollar and now trades at $0.40 or 0.00000618 BTC.
• Komodo (KMD) traded 198.1% higher against the dollar and now trades at $0.0174 or 0.00000027 BTC.
• ZClassic (ZCL) traded up 0.9% against the dollar and now trades at $0.17 or 0.00000260 BTC.

Zcash Coin Profile

Zcash (CRYPTO:ZEC) is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. It launched on October 28th, 2016. Zcash’s total supply is 16,810,452 coins. Zcash’s official message board is forum.z.cash. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed here. The official website for Zcash is z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here.

According to CryptoCompare, “ZCash is a privacy driven cryptocurrency. It uses the Equihash as an algorithm, which is an asymmetric memory-hard Proof of Work algorithm based on the generalized birthday problem. It relies on high RAM requirements to bottleneck the generation of proofs and making ASIC development unfeasible. ZCash uses zero-knowledge Succinct Non-interactive Arguments of Knowledge (zk-SNARKs) to ensure that all information (sender, receiver, amount) is encrypted, without the possibility of double-spending. The only information that is revealed regarding transactions is the time in which they take place. Blockchain data provided by: Blockchair (Main Source), Zchain Explorer (Backup)Telegram”

Buying and Selling Zcash

It is usually not presently possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView