How to Buy Zcash (ZEC)
Looking to ensure your crypto transaction data remains safe from prying eyes? If so, you may be interested in buying Zcash.
Launched in 2016, Zcash has emerged as one of the most discussed privacy cryptocurrencies for its special “shielded addresses” powered by zk-SNARKs. This innovation enables both the addresses and amounts involved in a transaction to appear encrypted on the Zcash blockchain.
For a more comprehensive guide about how Zcash works, read our “What is Zcash?” overview. It covers the basics of Zcash, answering key questions about the project and its launch.
If you’re still not sure, you may want to check out our intro guide to Monero (XMR), another top privacy cryptocurrency now trading on Kraken.
Ready to dive in?
If you're ready to dive in, click the button below, or read on for an easy step-by-step guide that will teach you how to buy Zcash.
Why buy ZEC?
Zcash’s strong privacy features are a key differentiator, and so some traders see buying ZEC as a good addition to a balanced portfolio.
As the crypto industry matures, these traders believe users and applications may integrate or seek to use the Zcash cryptocurrency or other alternatives. Also, because the Zcash blockchain is based on Bitcoin’s code, it shares features that allow BTC to serve as a store of value.
Reasons to buy ZEC
- Transact privately
- Pay for goods and services
- Send money to friends and family
- Build a long-term crypto trading strategy
- Time the market to go after profits
Where can you buy ZEC?
The easiest way to buy ZEC is through a digital asset exchange like Kraken. You can trade BTC and ETH for ZEC, or you can use your local fiat currency to purchase it.
There are a number of things to consider when choosing a Zcash exchange, including: fee structure, volume, reputation and (most importantly) security.
Cryptocurrency exchanges are a constant target for hackers and bad actors, so before you trust your money with one, be sure to read up on their security measures. You can learn more about how Kraken protects your funds and identity here.
How much ZEC can I buy?
The smallest amount of ZEC you can transfer is 0.00000001 ZEC, meaning you can buy ZEC on any budget.
But you can buy as much as you want – someone placing a large bet that ZEC price will rise in the future might buy 1,000 ZEC or more.
How to buy Zcash on Kraken
We make buying ZEC safe and easy. Just follow these simple steps to get started:
- Create an account
Pick a username and password, provide your email address and you’re ready to go.
- Become verified
With “Starter” verification, you can buy ZEC with other cryptocurrencies. All you need to do is provide your name, date of birth, country and phone number.
If you’d like to use fiat currencies, like USD or EUR, you’ll need to provide supporting documents to confirm your identity. Click this link to learn more about our verification levels documentation.
- Fund your account with crypto or fiat
Depositing crypto to Kraken is as simple as sending it to a friend. Just generate a new deposit address in your Kraken account to receive funds from your crypto wallet.
Funding your account with fiat currencies for trading can be done in a number of ways, including SWIFT, SEPA and domestic wire transfers. The option you select will be based on your location and preference.
- Buy ZEC!
Once your account is funded, you’re ready to buy ZEC. Simply open the New Order page, fill out the order form and click BUY. All Kraken accounts of any tier level have access to our custom charting tools and 24-hour client support.
24/7/365 Customer Support
Trading is really pretty simple! If you have any questions about buying bitcoin, let us know. Our support staff is online all day, every day, ready to help.
You can reach us anytime on LiveChat or by email.
Where do I keep my ZEC?
Once you’re done buying Zcash, you should look for a way to secure it. The best way to do this is with a wallet, a device or application that stores your ZEC but also allows you to spend it.
Mobile and web-based wallets make frequent transactions easy. Hardware and paper wallets are best suited for secure, long-term storage. When you’re choosing a crypto wallet, think of what you plan to do with your tokens. What you choose is up to you, and it will depend on your individual preferences regarding security and ease of use.
It is important to note that Kraken is an exchange service and not a wallet service. So, while we allow our clients to hold funds with us while they’re being used to make trades, you should consider separating your Zcash holdings into multiple wallets.
After all, it is never good to keep all of your eggs in one basket, even one protected by the mighty Kraken! (Don’t worry, we support all major wallets so you can still trade with us as much as you like).
Kraken is not a wallet service
It is important to note that Kraken is an exchange service and not a wallet service. So while we allow our clients to hold funds with us while they’re being used to make trades, you may want to consider separating your holdings into multiple wallets. After all, it is never good to keep all of your eggs in one basket, even one protected by the mighty Kraken!
Start buying ZEC
If you’re ready to take the next step and want to buy ZEC, click the button below!