How to Buy Zcash (ZEC)

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.

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.

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 cash 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.

We make buying ZEC safe and easy. Just follow these simple steps to get started:

1. Create an account
   Pick a username and password, provide your email address and you’re ready to go.

2. 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 cash, 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.

3. Fund your account with crypto or cash
   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 cash 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.

4. Purchase ZEC!
   Once your account is funded with cash, you’re ready to buy ZEC. You’ll also get access to our advanced charting tools, 24-hour global client support and margin* and futures trading**. All of these features are why millions of global traders love Kraken.

*Availability of margin trading services is subject to certain limitations and eligibility criteria.

**Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Read Kraken’s risk disclosure to learn more.

 

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 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).

If you’re ready to take the next step and want to buy ZEC, click the button below!