How to Buy and Sell Zcash Online in Australia
The need for anonymity is increasing online right now, people are indeed searching for cryptocurrencies beyond Bitcoin and other major coins. Zcash (Z.E.C) (ZEC) is one of only a few coins which could ﬁt the such solution, globally known as privacy coins.
A big diﬀerence between most cryptocurrencies and the traditional money is every transaction is tracked and managed on a decentralised, public blockchain, instead of by a centralised institution, like a bank. This means you truly own your money. Most cryptocurrencies expose your full transaction history and holdings to everyone. They are in no way anonymous.
Zcash is different. With Zcash, you can control which pieces of information you share. Shielded addresses and their associated balances are not visible on the blockchain. Payment disclosure and special viewing keys can certainly be used to share some transaction details with trusted third parties for compliance or audits, when necessary.
Privacy is built into the centre of Zcash, which allows people to send & receive Zcash without disclosing the sender, receiver or the amount transacted. Privacy allows good people to transact safely over digital mediums. Transparent addresses and transactions are also available if you choose to make them so.
Zcash also oﬀers transaction privacy by using zero-knowledge cryptography. This means that every transaction is obscured, and it hides the sender, the recipient and the amount of the transaction on the blockchain. However, ZEC is not completely anonymous. Every payment is visible on the public blockchain and only the participants in the transactions and the amounts are hidden. Zcash could also be used as a part of some global payment systems.
You might wish to consider why privacy could be important to you. Privacy is necessary for ensuring freedom on the internet. When your transactions are being watched, or when your transaction history is available to be known, a person isn't really free to make their own decisions. With other digital currencies, others are able to match people to their balances and details about parties involved, amounts and trends. Its creators believe that personal privacy is essential for core human values like dignity, intimacy, and ethics and that privacy strengthens social ties and some social institutions, enables democracy and civil political processes, plus, protects societies against their enemies and helps societies to be more peaceful and more prosperous.
You’ve decided Zcash may sound like it would be the one you want to add to your cryptocurrency portfolio. So, where to buy Zcash? Zcash is available from top cryptocurrency exchanges. Exchanges can be the most appropriate places to buy Zcash as they will oﬀer offer you support as well. In fact, if you’re new to the cryptocurrency world and are looking at where to buy Zcash where you should really consider a local exchange in your own locality. Having easily accessible support, particularly when you need assistance quickly, is a great selling point in an exchange when you are considering where to buy Zcash.
Can you buy Zcash with your real-world currency? Yes and no! When you are auditioning various exchanges and where to buy Zcash consider how you will be required to pay. Some places where to buy Zcash will expect you to already own cryptocurrency coins - for instance, bitcoin or ethereum - and will require you to trade them for Zcash. So, if you don’t currently own these coins you’ll need to buy them first. Do remember when considering where to buy Zcash and the process involved that the vast majority of trades will have transaction fees. So, to minimise these fees when looking where to buy Zcash you might prefer an exchange that allows you to purchase Zcash coins directly with your real-world currency.
So, now you know how Zcash works and what to look for when deciding where to buy Zcash - go ahead and start trading!