How to Sell Zcash (ZEC)
There comes a time in the lifecycle of any investment when you’ll need to consider capturing your gains (or cutting your losses). It’s no different when you’re buying and selling ZEC.
First, make sure you understand the implications of selling ZEC. Depending on when you first started buying ZEC, you may be selling at a profit (or loss), which could impact your portfolio and carry associated tax responsibilities.
As ZEC is a cryptocurrency, it trades on an open market, meaning that depending on when you sell, buyers may offer more favorable prices. Remember, the value of your ZEC will rise and fall against other cryptocurrencies (like BTC or LTC) as well as fiat currencies (like EUR and GBP).
An exchange with a real-time order book (like Kraken) will give you to-the-minute updates on what buyers and sellers are thinking about the current ZEC price.
If you’re sure you’re ready to sell ZEC, click below or read on for a thorough step-by-step guide.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some zcash!
New to crypto?
For more details on how ZEC derives its value, check out our official “What is Zcash?” guide.
Why sell ZEC?
Depending on your risk tolerance and investment allocations, you may find it advantageous to sell ZEC for other cryptocurrencies or fiat.
You may want to sell ZEC if you’re seeking to:
- Avoid losses or capture gains in times of price volatility
- Realize gains from buying ZEC
- Claim gains or losses as part of your annual tax reporting
- Sell ZEC crypto for fiat currency (like USD or EUR)
How do I sell ZEC on Kraken?
To start selling ZEC, follow these easy steps below:
Sign up for a Kraken account
You just need an email address, username and a strong password.
Verify your Kraken account
All you need is your name, birth date, country of residence and phone number. If you own ZEC, you can deposit it today and sell your crypto.
Send ZEC to your Kraken address
If you want to sell ZEC for another cryptocurrency (like BTC or ETH), generate a deposit address in your Kraken account and send your ZEC to that address. Depositing your crypto to Kraken is as easy as transferring it to any crypto address.
If you want to sell ZEC for a fiat currency (e.g. USD or EUR), you’ll need to send us identification and proof-of-residence documents. You can learn more about our different verification levels here.
Start selling ZEC!
Once your account is funded, you can sell ZEC and other cryptocurrencies.
If you run into any trouble selling ZEC, let us know. Our support staff is online 24/7 ready to help. You can reach us on LiveChat or by email anytime.
Ready to sell ZEC? If so, click the button below to get started!