How to Buy Zcash (ZEC) in Australia

1. Choose a crypto exchange

First things first, you need an exchange that both has Zcash, and is trustworthy!

You can find our top 3 exchanges for buying Zcash here, alternatively you can also check our comparison of the best crypto trading platforms in Australia if you’re generally interested in seeing which exchanges work for Australians.

2. Sign up with the crypto exchange

Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.

3. Fund your account

The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.

4. Buy Zcash

And of course, the final step is to find Zcash on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.

Where to Buy Zcash (ZEC)

ExchangeRatingAvailable CryptocurrenciesFeesVisit Site
Swyftx Logo5/5350+0.6%VISIT SITE
Binance Logo4.5/5300+0.1%VISIT SITE
Digital Surge Logo4/5200+VariesVISIT SITE

How to Sell Zcash

  1. Sign into the exchange
  2. Find where you stored your Zcash, either on a hardware wallet or on the exchange.
  3. Transfer your Zcash to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
  4. Sell Zcash.
Businessman looking at crypto trend

Considerations when looking to buy Zcash.

Zcash, a decentralized cryptocurrency that is focused on anonymity and privacy, is called Zcash. It utilizes the zk–SNARK zero-knowledge-proof technology, which allows nodes to verify transactions without disclosing any sensitive information.

Contrary to common belief, most cryptocurrencies, including Bitcoin (BTC), do not have an anonymous nature. They are pseudonymous, and while they don't explicitly reveal the identities, each user has their public address or addresses that can be tracked back to them using data science and blockchainforensics.

Zcash transactions must be transmitted via a public blockchain. However, unlike pseudonymous cryptocurrency, ZEC transactions do not reveal the sending or receiving addresses nor the amount being sent. This data can be revealed for auditing purposes or compliance with regulatory requirements.

Zcash was released for the first time on October 28, 2016. It was initially based on Bitcoin's source codebase.

Zcash's greatest advantage is its optional anonymity. This allows for privacy that is not possible with regular pseudonymous cryptocurrency like Bitcoin and Ethereum.

Two ways to send ZEC transactions are possible: transparent or shielded. Transparent transactions function in the same manner as Bitcoin's codebase Zcash: they are sent between public addresses, and are stored on an immutable public blockchain (the blockchain). You can view all the details about these transactions online, including the sending and received addresses as well as the amount sent.

These public transactions don't reveal user identities in any way. The only identifiers that an outside observer can access through the blockchain are public addresses. The methods of blockchain analysis, which have been refined over the years by data scientists and law enforcement, allow interested parties to connect public addresses on a blockchain with the real-world identities of their owners. This effectively makes private transactions impossible.

Shielded ZEC transactions on the other hand leverage the technology for zero-knowledge succinct, non-interactive arguments or knowledge (zk-SNARKs) to allow anonymous transactions to be sent over an immutable public blockchain. While the transaction is recorded on the ledger the sending and receiving addresses as well as the amount sent are not made public.

Zcash can offer its users privacy while still enjoying all the benefits of a permissionless, decentralized digital currency.