Planning to buy Zcash coin? Well, altcoin investment is essential to greater success. We’ve made it easy with our complete guide on how to buy Zcash (ZEC) in the USA.
ZCash (ZEC) is no doubt one of the most widely traded crypto assets in the market today. Its value reflects its high trading volume, as it’s supported by many crypto exchanges and digital wallets.
Although ZCash was based on the original Bitcoin (BTC), they are different for two major reasons.- performance and privacy. When money is transferred using the ZCash network, everyone on the network will see that a transaction has taken place. However, no one can tell who is the sender or receiver nor the transaction amount.
This is one of the reasons why ZCash has received lots of attention and popularity among crypto traders and investors. If you’re looking to join the ZCash community by investing in the token, this guide provides a step-by-step process of buying ZCash cryptocurrency in the USA.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY ZCASH IN THE USA
- A Step-by-Step Guide to Buying ZCash in the USA
- How to Sell Your ZCash Token
- Key Things to Consider if You're Thinking of Buying ZCash
QUICK GUIDE: HOW TO BUY ZCASH IN THE USA
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select ZCash.
- Enter how many ZCash coins you want to buy.
- Check the details and confirm your purchase.
A Step-by-Step Guide to Buying ZCASH in the USA
Set up an account with an exchange that supports ZCASH in three steps.
Step 1: Open an Online Account
For investors new to crypto trading, a crypto exchange is the best place to start your crypto journey.
Several crypto exchanges will allow you to trade ZCash. These online market places have different fees, digital securities available, as well as policies.
Depending on the type of crypto exchange you select, you will have the option of either buying ZCash directly using your fiat currency or trade it for other cryptocurrencies such as Bitcoin (BTC) or Ethereum (ETH).
After choosing the ideal exchange with the right features for you, the next thing is to register on the platform to enable you to buy ZCash.
But remember that the exchange may need you to provide certain personal details such as your name, Photo ID, and probably employment detail or source of income.
These are merely to fulfill the Know Your Customer (KYC) policies required by law.
During registration, you will also provide your email address and set a password for your account.
Step 2: Deposit funds into your account
After registering with your preferred broker, the next step is to deposit funds into the account you’ve created.
If you’re only starting with your first crypto investment, you should look for an exchange that allows direct funding of accounts via fiat currency.
But if you’re new to crypto, the right exchange will offer different funding options with fiat currency.
The best exchanges allow users to fund using their credit card, debit card, bank transfers, PayPal, as well as through other digital funding means. Remember that each funding option comes with charges, with the credit card option being the most expensive to use. So, you need to look at your most viable option to make things convenient for you.
Once the exchange accepts your funding option, your exchange account will be credited immediately.
Step 3: Buy Zcash Coins
This is the final step to take before you become an owner of ZCash cryptocurrency. To buy Zcash from the exchange, log into your account and navigate to the cryptocurrency pairing. Select Zcash to view its price. To find it faster, you can enter “ZEX” in the search bar.
Once the ZCash page is displayed, you will see different buy orders. Select the ideal one for you, which can be a market order or limit order.
Fill in the order details, including the amount of Zcash tokens you want to buy. Afterward, you will be asked to review the order before it is finally executed. Once the order is taken and executed, a notification will be sent to your mail while your exchange account is credited with the amount of Zcash tokens you order. That’s it!. You can decide whether to store the Zcash and wait till it appreciates or start trading with it by buying other crypto pairs.
Step 4: Store ZCASH in a wallet
e-Wallets or what is generally called digital wallets can help you store your Zcash in a private location, which is safer than storing it with a crypto exchange. The e-wallet has plays a similar role as your bank account plays for a fiat currency.
But you need to keep your wallet key safe and provide regular backups to the wallet. There are different types of e-wallets available for sale, but it’s important to select one that is compatible with Zcash.
How to Sell Your ZCASH Token
Selling Zcash involves uploading information about the transaction. It’s very easy with Zcash because it takes a very short time for transactions to complete in a block.
You only have to follow the process in step 3, but this time, you are going to the sell section where different crypto pairs are listed. Select the Zcash pair you want to sell and follow the same instructions you did when buying the token. It’s that simple!
Key Things to Consider if You’re Thinking About Buying ZCASH
The following are some of the important considerations to make before buying Zcash in the USA.
Consider the project
Zcash has long been seen as a cheaper alternative to some other cryptocurrencies when it comes to the transaction cost. Some investors and traders choose to trade with Zcash because of this benefit. It also has a speedy transaction time. The project itself is supported by a large community that is zealous for its development.
Zcash and other crypto assets are volatile
Volatility is a general feature shared by all crypto assets, including Zcash. Before entering the world of cryptocurrencies, understand that the price of crypto assets can change at an unexpected notice. You need to set up a trading strategy that reflects on the vulnerability of the token.
Consider tax laws
Each state has its tax laws that guide cryptocurrency trading and investment. Try to understand these laws as it concerns your state so that you will know how your dealings in cryptocurrencies will be charged. Whatever you’re doing, it’s always good to stay on the right side of the law.
The value of Zcash has been climbing steadily since it was launched in 2016. It has maintained a high market capitalization and its mining hardware is more attractive because it’s less expensive than Bitcoin and some other crypto mining hardware.
The crypto asset is still receiving more interest from retail and institutional traders. If you’re looking to buy ZCash in the USA, the above information will be helpful to guide you to buy, store, and sell the token.
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Virtual currencies are highly volatile. Your capital is at risk.