How to Buy Zcash in Australia

A Beginner’s Guide to Buying Zcash Cryptocurrency in Australia

Last Updated July 23rd 2021
6 Min Read

The guide will explain the best way to buy Zcash (ZEC) in Australia. You will also understand the step-by-step method of buying ZEC in a cryptocurrency exchange.

Zcash (ZEC) is digital money that offers a confidential and fast with minimal fees. The cryptocurrency is primarily used for both mobile and internet transactions. Zcash is a popular cryptocurrency that can be bought or traded for different currencies like Australian dollars (AUD). 

The Zcash can be stored easily in a digital wallet to be spent or sent from any location in the world. Zcash is a unique cryptocurrency in that it maintains the privacy of the user. Zcash is different from other cryptocurrencies that show every transaction detail of the user to the public. Zcash offers strict confidentiality to its users to help them protect their privacy and their financial histories. With Zcash, you get to pay very low fees while your transactions can be confirmed rapidly. You can purchase Zcash in Australia with your Australian dollars (AUD).

What's in this guide?

This is a comprehensive guide that explicitly describes how you can buy and sell Zcash in Australia. In this guide, you will learn you can buy Zcash by using a cryptocurrency y exchange. You will also get essential tips on how you can sell Zcash using an exchange. You will also describe storage options and things to be considered before you buy the cryptocurrency.

  1. QUICK GUIDE: HOW TO BUY ZCASH IN AUSTRALIA
  2. Where to Buy Zcash in Australia
  3. A Step-by-Step Guide to Buying Zcash in Australia
  4. How to Sell Zcash
  5. Which Wallets Can I Use to Hold Zcash?
  6. How Zcash Works
  7. Things to Consider Before you Buy Zcash in Australia 
  8. FAQs

QUICK GUIDE: HOW TO BUY ZCASH IN AUSTRALIA

  1. Open an account with a cryptocurrency exchange.
  2. Verify your account.
  3. Go to the deposit section
  4. Go to the platform and select ZEC.
  5. Enter how many Zcash ZEC coins you want to buy.
  6. Check the details and confirm your purchase.

Where to Buy Zcash in Australia

Just like every other cryptocurrency, the best way to buy Zcash is through a cryptocurrency exchange. This exchange acts as a broker. Like the stock market, the cryptocurrency brokers deliver a platform that allows buyers and sellers to meet to exchange their assets. This is the ideal alternative for people who are new to the cryptocurrency market.

A Step-by-Step Guide to Buying Zcash in Australia

Zcash is just like every other cryptocurrency and can be bought in two significant ways: a cryptocurrency or a fiat currency.

Buying Zcash With a Fiat Currency

Looking to purchase Zcash, you can do this in 5 easy steps like the following:

1). Choose a reliable exchange

To begin your Zcash purchase, you will need to choose a cryptocurrency exchange that you trust. To determine the ideal exchange, you will need to compare fees and the quality of services/features.

2). Create your account

After choosing your preferred exchange, you can then go-ahead to open an account. You can provide all the requested details, such as an email address and password.

After creating your account, the next stage is to get verified. This will take just a few processes to ensure your authenticity and provide adequate security for all transactions.

3). Fund your account 

It would be best if you chose an exchange that allows you to deposit money through various methods quickly. After this, you are all set to buy the Zcash (ZEC) asset.

5). Buy Zcash

The moment that the funding of the account is done, you can now get ready to purchase ZEC. With just a few dialog boxes to fill, the ZEC can be bought in several short steps. 

Buy Zcash With Another Cryptocurrency.

You also have the option to buy Zcash by using another cryptocurrency. This is similar to the process outlined above.

1). Get a reliable exchange

Choose a trusty cryptocurrency exchange that allows crypto to crypto purchase.

2). Open an account

When you choose preferred crypto to crypto exchange, you can then proceed to open an account.

3). Verify your account

You will need to verify your new account for verification to ensure secured and safe transactions.

4). Fund your account with cryptocurrency

Instead of funding with a fiat currency, you will fund your account with the cryptocurrency you need to buy Zcash with. Some exchanges allow you to deposit fiat currencies and enable you to buy the required cryptocurrency like Bitcoin. Litecoin, or Ethereum.

5). Buy Zcash

Now that your account has been funded with the needed cryptocurrency, you can then go ahead to purchase the Zcash cryptocurrency. You can look for trading pairs such as "Bitcoin to Zcash – BTC/ZEC," "Litecoin to Zcash – LTC/ZEC," or "Ethereum to Zcash – ETH/ZEC."

Read Also: How to Trade Zcash: A Step-by-Step Guide

How to Sell Zcash

Zcash can be sold in the following steps:

1). Sign up with an exchange

The first step to selling Zcash is to sign up with an exchange that accepts Zcash, or you could load some Zcash into a Bitcoin ATM.

2). Sell the Zcash

The next step is to sell the Zcash to either Ethereum or Bitcoin. These are the two most readily accepted cryptocurrencies. 

3). Sell your Bitcoin or Ethereum

After converting your Zcash to either Ethereum or Bitcoin, you can then sell this to a fiat currency like the Australian dollars (AUD). 

4). Withdraw your AUD to your bank account

Just click withdraw on your exchange dashboard to withdraw your AUD in cash.

Which Wallets Can I Use to Hold Zcash?

Using wallets is the best way to hold and store your Zcash. There are various web-based and mobile wallets that you can use to store your ZEC after purchase. These wallets allow you to hold and spend your Zcash. With these wallets, you get a secured and long-term storage.

Check Out: Zcash Price Prediction Forecast

How Zcash Works

Zcash works through complete encryption of user information that relies on a sophisticated cryptographic method. Digital money uses a peer-reviewed cryptographic secured system. The crypto coin was developed by a team of software engineers that specialize in security. 

Zcash works with an open-source platform that relies on the Bitcoin protocol known as Bitcoin Core codebase that has been tested rigorously to verify the authenticity of the technology.

Zcash works in the same way as Bitcoin but offers users the opportunity to shield or encrypt their details during any transaction. Zcash supports all Bitcoin transactions and is very available in Australia.

Things to Consider Before You Buy Zcash in Australia

Zcash is among the top two privacy cryptocurrencies in the world. By market capitalization, Zcash is among the leading 50 worldwide cryptocurrencies. If you are looking to buy the Zcash, you should consider the following:

Zcash has a face

Unlike most other cryptocurrencies, Zcash has a company behind it. Zcash is owned by the Zcash company, which Zooko Wilcox heads. Wilcox is the creator of Zcash. 

New technology

Zcash is based on a new technology known as the zk-SNARKS. Zk-SNARKS is currently being tested, developed, and explored. This means that users should beware of unknown weak points in the technology that malicious people or groups can exploit.

If you’re based in Australia and wish to buy Zcash – the process is very simple. All you need to do is find a regulated Zcash exchange that offers competitive fees, deposit some funds, and decide how much you wish to buy.

eToro – Best Broker to Buy Zcash in Australia

etoro broker

eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.

Virtual currencies are highly volatile. Your capital is at risk.

FAQs

What is Zcash?

Zcash was created in 2016, and it is a cryptocurrency and an open and fair currency that can be used to buy anything. Zcash (ZEC) can be sent to people and received through a mobile phone, digital wallet, and computer. With Zcash, everyone gets equal access irrespective of their demographics or social status.

Is Zcash safe?

Certainly, Zcash is powered by a safe and secured algorithm that is reasonably fraud-proof.

Is the price of Zcash on the rise?

Like every other cryptocurrency, the price of Zcash is volatile with occasional dips and surges, which means that it rises and goes down.

Is Zcash traded all over the world?

Indeed, many crypto exchanges can be traded on many exchanges.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.