Zcash Price Tops $261.61 on Major Exchanges (ZEC)

Zcash (ZEC) traded 2% higher against the US dollar during the 24 hour period ending at 7:00 AM ET on February 21st. Zcash has a market capitalization of $4.33 billion and $258.85 million worth of Zcash was traded on exchanges in the last 24 hours. During the last seven days, Zcash has traded down 7.3% against the US dollar. One Zcash coin can now be bought for about $261.61 or 0.00384267 BTC on popular cryptocurrency exchanges.

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

• Horizen (ZEN) traded 2.4% higher against the dollar and now trades at $5.89 or 0.00008653 BTC.
• Pirate Chain (ARRR) traded 7.7% higher against the dollar and now trades at $0.27 or 0.00000389 BTC.
• Bitcoin Gold (BTG) traded 29% lower against the dollar and now trades at $0.99 or 0.00001457 BTC.
• Komodo (KMD) traded 0.4% lower against the dollar and now trades at $0.0228 or 0.00000033 BTC.
• ZClassic (ZCL) traded 13.3% higher against the dollar and now trades at $0.24 or 0.00000350 BTC.

Zcash 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 16,545,594 coins and its circulating supply is 16,545,619 coins. Zcash’s official message board is forum.z.cash. Zcash’s official Twitter account is @electriccoinco and its Facebook page is accessible here. Zcash’s official website is z.cash. The Reddit community for Zcash is https://reddit.com/r/zec and the currency’s Github account can be viewed 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 purchase alternative cryptocurrencies such as Zcash directly using U.S. dollars. Investors seeking to trade Zcash should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Zcash using one of the exchanges listed above.

ZEC/USD price chart by TradingView