Zcash (ZEC) Price Down 6.5% This Week

Zcash (ZEC) traded up 2% against the dollar during the 1-day period ending at 7:00 AM Eastern on July 27th. One Zcash coin can now be purchased for approximately $502.67 or 0.00772621 BTC on major cryptocurrency exchanges. In the last week, Zcash has traded down 6.5% against the dollar. Zcash has a total market capitalization of $8.44 billion and approximately $348.95 million worth of Zcash was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed in the last day:

• Horizen (ZEN) traded 0.2% higher against the dollar and now trades at $4.12 or 0.00006328 BTC.
• Pirate Chain (ARRR) traded 1.3% higher against the dollar and now trades at $0.22 or 0.00000332 BTC.
• Bitcoin Gold (BTG) traded down 45.3% against the dollar and now trades at $0.23 or 0.00000359 BTC.
• ZClassic (ZCL) traded 6.7% higher against the dollar and now trades at $0.16 or 0.00000251 BTC.
• Komodo (KMD) traded up 10.2% against the dollar and now trades at $0.0075 or 0.00000012 BTC.

About Zcash

Zcash is a proof-of-work (PoW) coin that uses the Equihash hashing algorithm. Its genesis date was October 28th, 2016. Zcash’s total supply is 16,791,530 coins. 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. The official message board for Zcash is forum.z.cash.

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 possible to buy alternative cryptocurrencies such as Zcash directly using US dollars. Investors seeking to trade Zcash should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Zcash using one of the aforementioned exchanges.

ZEC/USD price chart by TradingView