Are you wondering if now is a good time to buy ZCash? Are you unsure if ZEC is one of the safest assets to invest in?
If you are new to the world of privacy coins and therefore ZCash investing, you may have wondered if ZCash is a good investment, or should I Invest in ZEC?
YES! ZCash could likely be a good investment and investing in ZCash with an eye on the long term could be one of the best investment decisions you have taken in years.
ZCash is one of the cryptocurrencies that returned more than 70% by the end of 2021. From the huge daily trading volumes being recorded across cryptocurrency exchanges, ZEC shows no signs of slowing down in the short or long term. Several experts think the ZCash Foundation has fostered amazing partnerships and the protocol has several unique features that have set it on a potential growth pattern. Other analysts believe investing in ZCash is worth your hard-earned money to help balance your portfolio of investments.
One of the biggest reasons to invest in ZCash is Grayscale. Grayscale is the largest digital asset management firm globally. After setting up a TRUST for the digital asset, despite the bearish seasons that have engulfed the cryptocurrency market over the years, Grayscale continues to have a firm grip on its ZEC holdings. If Grayscale's outlook of ZEC is anything to go about, then the price of ZCash is poised to increase significantly in the future.
This is one of many reasons why investing in ZCash could be extremely profitable.
In this article, we are going to take a look at ZCash and all the areas of business of the cryptocurrency. This will help you conclude whether you should consider investing in ZCash.
If you want to invest in ZCash (ZEC) easily and quickly, check out the eToro!
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Contents:
- What Is ZCash? A Simple Explanation
- ZCash Investing: Getting Started
- Is ZCash A Good Investment?
- Should I Invest in ZCash?
- Should I Invest in Bitcoin or ZCash?
- How Much Could ZCash Be Worth?
- Who Should Include ZCash (ZEC) In Their Portfolios?
- Is Investing in ZCash Risky?
- Does ZCash Have a Future?
- Conclusion: Is ZCash a Good Investment?
- FAQs
What Is ZCash? A Simple Explanation
ZCash is one of the most popular privacy coins that employ blockchain technology. ZCash is the 59th largest digital asset globally. ZCash uses its token, ZEC to power transactions on the ZCash network.
Zooko Wilcox created ZCash in 2016 as a payment service that operates on a decentralized public blockchain without revealing the value of transactions, sender, or recipient. Unlike other public ledgers, only people who have the correct keys can see the contents of a transaction. Users have total control over whom they would like to share a transaction's "view keys". Transactions are not dependent on the cooperation of the other parties.
ZCash was built on diligent science, with inputs from the researchers of Tel Aviv University, Johns Hopkins, UC Berkeley, Technion, and Massachusetts Institute of Technology (MIT). ZCash employs the zero-knowledge succinct non-interactive arguments of knowledge (zk- SNARKs). This makes it private digital money with relatively lower fees.
The ticker symbol for ZCash is ZEC. You can purchase the cryptocurrency and trade it with other digital assets on a cryptocurrency exchange or brokerages. You can spend, send, and receive it via the mobile phone, digital wallet, and desktop. Regardless of what social strata or demographic you find yourself in, so long as you have an internet connection, you have equal access to using ZCash.
How Does ZCash Work?
ZCash comes with two types of addresses for transactions. There are z and t addresses. The t-address represents transparent transactions while the z-address represents private transactions. Between these two addresses, two (2) types of transactions normally happen and they are briefly discussed below.
- Shielded Transactions - this happens between two senders with z-addresses. Since ZCash is a decentralized blockchain, there is a notification that a transaction has happened. Fortunately, based on the zk-SNARK encryption, the visibility of the memo fields and the transaction amount is hidden. With this, there is complete privacy.
- Deshielding Transactions - this happens between t-address and z-address. The term “deshielding” is associated with such transactions because they meet compliance and auditing. People who use this normally adheres to payment disclosure obligations through view keys. All of this activity has created an exciting ecosystem where ZEC flows easily.
It is not surprising that several analysts have opined that with major improvements in its scale of processing transactions, ZCash could soon become the next large-cap asset, and others believe it may surpass Monero (XRM) and Dash (DASH) in daily transaction counts someday.
ZCash Investing: Getting Started
To start investing in ZCash, you first need to register online with an exchange that will enable you to buy and invest in ZCash. An exchange is a trading platform with sophisticated software that enables traders and investors to place trades on ZEC and other assets, and monitor accounts through financial intermediaries.
There are thousands of people who have fallen victim to scams around the globe. Most of them were attributed to low liquidity exchanges, and organized crimes through scammers. This is the main reason why millions of people do not have crypto wallets. Fortunately for you, Trading Education has dug deep and researched extensively about the authentic and credible exchange that can safely and securely hold your ZCash coins. This trading platform is eToro.
With 1,200 employees across the globe, eToro has registered offices in Australia, United States, Cyprus, Israel, Mexico and the United Kingdom. eToro is a centralized exchange and for you to create an account, you must follow the steps below to the detail.
First and foremost, SIGN UP. Like all online accounts, you need to input authentic details that can be verified that include your full legal name, email & address, and phone number.
Secondly, VERIFY YOUR ACCOUNT. As part of Knowing Your Customer (KYC) that helps regulate identity, and credit card fraud, you need to upload authentic documents such as government-issued identification cards. Aside from this, there are individuals whose identities may not be that clear. eToro through its verification team would request bank statements, internet bills, or any other credible bills to be able to authenticate your residential address.
The third step is to UPLOAD FUNDS. From a list of options of payments, you can upload funds in the form of GBP, USD, or EURO. This will be processed and added to your accounts within seconds.
The last step is to HEAD TO THE ZEC PAGE. On this page, based on the amount of money you have set aside to risk, you can buy several ZEC. Once this has been done, the transaction will be processed and then you can go about your trading activities.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Is ZCash A Good Investment?
As ZCash is the fifty-ninth blockchain platform, many crypto experts believe that ZCash is a good investment compared to other mainstream cryptocurrencies and DeFi coins. Despite all the ups and downs in ZCash’s history, analysts believe that ZECs price could grow exponentially in the long term.
Previsioni Bitcoin foresees ZEC as a good investment in 2022. According to the experts, ZEC could trade for a coin at $219.21 by the end of 2022. What are the primary drivers of such a price forecast? On 27th May 2021, REN launched a bridge to Polygon for seven top assets. This new bridge allows Ren’s ERC-20 representations of Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Filecoin (FIL), Terra (LUNA), DigiByte (DGB) and, ZCash (ZEC) to be transferred onto the network of Polygon. Polygon is a high-speed and low-cost layer-two network.
But how does this affect ZECs price? Ren WZEC can now be used on the Polygon Network. With this, Ren WZEC can be traded and pooled on Polygon-based decentralized exchange QuickSwap. What’s more, the Ren Team has hinted that there could be yield opportunities for the tokens in the future when WZEC and other assets are deployed on Polygon’s version of Curve Finance and BadgerDAO. This means that ZEC can be used as a liquidity provider for a decentralized exchange and as well be exposed to users of yield aggregation applications.
This will improve the daily transaction counts of ZEC in the short and long term. Coin Switch foresees ZEC as a good investment for the long term. According to Anisa Batabyal, ZCash may become globally popular and its use case might populate as well and could exponentially increase to around $1,242 by the year’s end of 2025.
With the two analyses under perspective, investing in ZCash in the short term could result in 57.15% and the long-term return at least 790.39%.
Read Also: 15 Reasons Why You Should Buy Zcash Today
Should I Invest In ZCash?
Why should I consider investing in ZCash? Well, ZCash is one of the innovative technologies that could change the way we go about our digital transactions. To be more precise, ZCash has introduced shielded and deshielded transactions that allow users to make private and transparent transactions.
One of the reasons why you should consider investing in ZCash is because of the returns it promises in the future. ZCash is highly undervalued and with its finite supply, there is a huge chance that scarcity will set in soon. Aside from this, ZCash is among the few cryptocurrencies which have returned more than 100% for its investors despite the lows suffered in May. By the end of 2021 ZCash returns stood at 70% and with the deployments and partnerships being formed; there is a chance this number will increase towards 200% by the end of the year.
ZCash has an all-star team that will continue to build innovative products for its users. Several crypto projects failed to hit the ground running due to its team not bringing innovation to the saturated market. ZCash through its Electronic Coin Company and the Foundation with time will ensure the digital currency is integrated with millions of merchants globally.
One of the essential aspects to watch as to whether to invest in ZEC or any other digital asset is its trading volume. In the last 24 hours up to the time of writing, ZCash has a trading volume of $750 million. Having daily volumes of more than $100 million in a market where users have access to more than 10,000 coins signals huge investor interest in the asset.
Crypto Ground expects bullishness in the price of ZCash coin in 2022 and beyond. According to the experts, ZEC could command a price of $1,283.32 in the next 5 years. ZEC can return 820.01% respectively.
Should I Invest In Bitcoin Or ZCash?
Although ZCash is the 66th digital asset, there are many reasons to invest in ZCash instead of Bitcoin. Though both are transactional digital currencies as well as a store of value, ZEC has certain benefits that give it an edge over Bitcoin.
Price: In terms of trading price, ZEC ($139) and Bitcoin ($42,295) are miles apart. This means that novice traders and investors have a great chance of affording to buy ZCash instead of BTC. Since investors purchase an asset intending to make money, it is very easy to realize a 100%, 200%, or 300% return on investment when it has a relatively lower trading price. Bitcoin has been forecasted to reach new price milestones above its all-time price hovering above $68,000.
At their prices, ZEC will have to trade for a coin at $378 for you to see a double in your investments. On the other hand, you could realize a doubling of your investment, if BTC reaches $133,700 in the future. Although reserve risk analysis points BTC towards an attractive investment direction, constant news on some form of regulation for digital assets will keep BTC below $68,000 for some time. The market looks to have reached a maintenance point where assets are trading below certain price levels. With the price of BTC, an institutional investment may be the only way for the asset to soar to reach new price highs. Relying on trading volume numbers does not mean BTC is going up any time soon. This is because the $100, $200, and $500 trades add up to billions of dollars daily but do little to impact an asset’s price.
FX Leaders have made predictions about the two assets under discussion. Analyst Skerdian Meta projects ZEC to increase substantially to $750 to $1,200 in the next 3 years.
According to Skerdian Meta, BTC could reach increase significantly to $150,000 to $200,000 in the next 3 years.
With the statistics provided, it is clear that investing in ZEC will bring you more returns than Bitcoin.
Will ZCash ever overtake Bitcoin / Will ZCash get as high as Bitcoin?
YES! ZCash could get as high as Bitcoin and may overtake Bitcoin someday since the cryptocurrency market is extremely unpredictable. With that said, BTC is the most popular cryptocurrency globally. Many people do not know that aside from Bitcoin there are other cryptocurrencies out there. Most skeptics are shocked when they find out there are more than 16,000 coins on the market. Bitcoin is the first cryptocurrency. It is known to be a great store of value that comes with huge returns. This is the main reason why several experts call it digital gold.
To understand the prices ZEC and BTC could reach, let us employ the price forecasts of the two cryptocurrencies by Wallet Investor as a thesis to support a strong conclusion.
According to experts at Wallet Investor, Bitcoin could reach the least possible price of $167,920, an average price of $189,800, and the best possible price of $211,454 in December 2026.
According to experts at Wallet Investor, ZCash could reach an average price of $433.78 and a high of $1,687.81 in December 2026.
In the long term, ZCash (ZEC) is estimated to reach less than $2,000 while Bitcoin (BTC) is predicted to have a trading price of a little above $200,000.
It can be seen that ZEC will improve but would not get into the price range of Bitcoin by the end of the year or the next 5 years.
How Much Could ZCash Be Worth?
According to Wallet Investor, ZEC could reach an average price of $242.90 and the best possible price of $614.82 by the year’s end of 2023. At the end of 2024, the technical analysis prediction website foresees ZEC command an average trading price of $309.47 and a best possible price of $898.57.
CryptoNewsZ believes ZCash is a good investment that could touch $400 and settle at $430 by the close of 2023. In the long term, the crypto news and prediction portal foresees a low price of $420 and a high price of $530 for ZEC by the end of 2024.
The experts further forecast ZEC to reach $250 by the end of June 2023 and trade for $270 by the end of that year. ZCash (ZEC) could have $276 written next to it in July 2024 and $317 by the end of the year. These are the price forecasts of the Coin Price Forecast in the short term. In the long term, the experts expect ZCash to have trading prices of $427 (2026), $497 (2027), $565 (2028), $633 (2029), and $613 (2032).
Analysts at Digital Coin Price predict ZCash to have a trading price of $200 and increase to average prices of $245.59 (2023) and $258.04 by the end of 2024. In the long term, ZEC is forecasted to re-tests $253.43 (2026), $456.58 (2027), and $452.05 (2028).
What Will ZCash Be Worth in 2022?
According to the experts at Wallet Investor, ZCash could reach an average price of $194.41 and command the best possible price of $422.86 by the end of the year.
According to the analysts at CryptoNewsz, ZEC could reach a low of $360 and a high of $430 by the end of the year.
According to the experts at Coin Price Forecast, ZCash could command a price of $179 by June ending and at the end of 2022 have a trading price of $260.
According to the experts at Digital Coin Price, ZEC could have a trading price of $194.27 by the end of 2022.
How much is ZCash Worth in 2025?
According to the analysts at Wallet Investor, ZCash could have an average trading price of $371.41 and the best possible price of $1,286.87 by the end of the year.
According to CryptoNewsZ, ZEC could command an average price of $500 and the best possible price of $580 on 31st December 2025.
According to Coin Price Forecast, ZCash could have a trading price of $339 by the close of June and $377 written next to it on cryptocurrency exchanges on 31st December 2025.
According to experts at Digital Coin Price, ZEC could have a price of $342.36 by the close of 2025.
What Will ZCash Be Worth in 2030?
According to Coin Price Forecast, ZCash could have a price of $667 by July and trade for a coin at $613 by the end of the year.
Can ZCash Reach $1,000?
Wallet Investor believes ZCash (ZEC) could test $1,000 in 2025 and settles at $1,286.87 to end the year.
Will ZCash go down in 2022?
NO! ZCash will not go down. Whatever happens, there are going to be dips that cannot be avoided. After the coronavirus crash of 2020, the cryptocurrency market soared towards the end of the year. Fortunately, it continued and has brought huge gains to its investors. As per forecasts by CryptoNewsZ, Coin Price Forecast, Digital Coin Price, FX Leaders, Coin Switch, and Wallet Investor ZEC will trade above its current price of $139 by the end of 2022.
What’s more, ZEC continues to see huge investor interests across the numerous cryptocurrency exchanges that list it for trading. eToro, Binance, Huobi Global, and OKEx record billions of dollars in daily trading volume, and some of this value is attributed to activity on ZEC.
Don't Miss: Zcash Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Who Should Include ZCash (ZEC) In Their Portfolios?
Several people could benefit from having ZEC in their portfolios. Some of the people are briefly discussed below.
- Cryptocurrency Traders: ZCash is one of the most popular privacy coins. Based on fundamental and technical analysis, it has a great potential which could see it retest its all-time price high of $5,941.80. In addition to a portfolio that may contain Bitcoin (BTC), Ether (ETH), Cardano (ADA), or Tronix (TRX), ZEC could be a valuable option. With the unpredictable nature of cryptocurrencies, a sophisticated cryptocurrency trader can take advantage of the sharp price movements and use ZEC to transform their portfolio from low to high returns.
- Day Traders: Day trading is a scientific skill that can be mastered to turn passive income into a real full-time income. Based on the strategy of the trader whether high-frequency, news-based, range or, scalping, having ZEC in a portfolio can bring great returns at the end of each trading day.
- Value Investors: ZCash has several attributes of Bitcoin. It’s finite in supply and capped at 21 million. Many experts believe it can also be considered as a store of value. Based on a reserve risk analysis conducted by Trading Education, ZCash is undervalued. More investors are still holding on to their ZECs with a view of seeing the digital asset command a relatively higher price than its currently trading for. ZCash is trading below its book value and having it on your portfolio may see it erase losses and positively add to gains made in a given period.
But is 2022 too late to buy ZCash?
NO! It is not too late to buy ZCash. Although ZEC commands a relatively higher price than Tronix (TRX), Cardano (ADA), Ripple (XRP), EOSIO (EOS), Stellar (XLM), and Chainlink (LINK), its price is a mere fraction of Ether (ETH) and Bitcoin. ZCash is currently trading at $124 and purchasing at least 10 ZEC could be a good start if several milestones are reached in the future. The crypto boom of 2021 has died down naturally but the bulls will always return at a point in time.
All it takes is for a major institution to announce a partnership with Bitcoin or one of the major altcoins and the whole market heads north again. Since the cryptocurrency market is unpredictable, we’d advise you to buy some ZEC that cannot deplete your savings and see where it would take you as per your investment goals. The market is still recovering from the May lows and with technical analysis in sight, ZEC seems to have reached a resistance point where it’s likely to head into the gains zone. To put it simply, you can still buy ZEC in 2022, it’s not too late.
Check Out: Pros and Cons of Investing in ZCash
Is Investing in ZCash Risky?
YES! Investing in ZCash is very risky. ZCash may have returned more than 100% for investors. But this does not mean that once you invest in ZEC, you can quit your job and focus on raking in huge sums of money at the end of the month. Cryptocurrency investing has led thousands of people into losing a huge sum of their savings. Some people have lost millions of dollars and pounds testing their hands on crypto trading assets. Unfortunately, most of the cryptocurrency addresses given to them were owned by scammers who took off with their hard-earned money.
Practically, due to the risk associated with digital assets, you can set up at most $500 to try ZEC and other digital assets. As a novice trader or investor, you must not be tempted to place all your money into one asset based on a fundamental or technical analysis you read somewhere. Invest 5% for the start.
This means that for $500, you can invest $25 into an asset you have thoroughly researched about. Once you see gains, you can then move onto investing 10% and with time up to 50% of your capital.
Due to the risk involved in crypto, we continue to talk about the need to diversify your portfolio. Without taking risks, you are not going to see huge returns. But we want you to take calculated risks. This is why you can invest in ZCash along with other digital assets and less-volatile assets so that a loss in one could be balanced from gains made from another asset.
Could Zcash Be A Bad Investment?
ZCash could be a bad investment. Despite the positives pointed out, ZEC has numerous pitfalls which should be addressed. ZEC appeared on the list of the European Union Agency for Law Enforcement Cooperation (EUROPOL) as one of three digital currencies along with Monero and Bitcoin to be used in internet-related crimes.
This does not bode well for a cryptocurrency whose issuing authority (ZCash Foundation and Electric Coin Company) seems to have created a blockchain network that meets anti-money laundering and other regulatory compliance. Since EUROPOL has so much power and is trusted by numerous citizens, many people who want to go about transactions privately can consider other options such as Dash (DASH).
Digital Cash is a privacy coin that scales relatively faster and it’s integrated with millions of merchants across the United States and the globe.
With such negativity around a great crypto coin, the Economy Forecast Agency, popularly known as, Long Forecast believes ZEC could be a bad investment in the long term.
The experts foresee ZCash command a trading price of $121 by the end of 2022. ZCash is projected to be hit hard by the forecasted bearish season of 2023 and plunge to $197 at the end of the year.
In the long term, the forecasting portal believes ZEC is going to plummet to $119 by 31st December 2024 and decrease to $37 by the end of 2025.
Trading Beasts have also weighed in on the discussion on whether ZCash could be a bad investment. Unfortunately, the experts are a bit conservative and not as bullish as other forecasting websites.
The financial news and prediction portal expects ZCash to reach a maximum price of $165.75 by the close of 2022, $130.06 (2023), and $210.62 by the end of 2024.
As a result, you can invest in ZCash but keep an eye on news related to the cryptocurrency so that you do not make huge losses. In a nutshell, ZEC promises great gains in the future but can become a bad investment along the way due to uncertainty around privacy coins and cryptocurrencies as a whole.
Read More: Could Zcash Be A Millionaire-Maker?
Does ZCash Have A Future?
YES! ZCash does have a future. Although it has been in the crypto game for a long time, ZCash should be given enough time to grow into an extensive acceptance for use in the market.
On 30th April 2021, Signal mentioned ZCash as one of the possible options it’s considering to integrate with its network. SIGNAL is an encrypted messaging application. This means that in the not-too-distant future, if the development team behind the cryptocurrency doubles up steps so that the ZCash blockchain can scale thousands of transactions, it will not only be integrated with Signal but other messaging applications and online payments worldwide.
Aside from this, ZCash is highly secured and has been flirting with decentralized finance through Wrapped ZEC. More importantly, it's trusted by the leading digital asset management firm Grayscale to bring great gains in the future.
ZCash will continue to soar towards the end of the year when the crypto boom hits its stride. According to Coin Price Forecast, $671 which is more than 4 times the current price of ZEC ($139) will be written next to the digital asset by the end of 2031.
How safe is ZCash?
ZCash is very safe. It is known across the crypto space for its dedication to security. You should know that, unlike most crypto projects, ZCash was developed through a peer-reviewed scientific approach by experts. This strategy saw the project go through the assessment of many computer specialists before being released to the general public.
This is the primary reason why after 5 years of being in the space, ZCash has not been mired by news of hacking. You can trust ZCash to help privately carry financial activities without any troubles.
How legit is ZCash?
ZCash is very legit. The project comprises computer security specialists, experienced cryptographers, and credible stakeholders. Bitcoin loyalist Roger Ver was among the company’s first investors. Founder of Ethereum, Vitalik Buterin is an advisor to the ZCash project.
In addition to this, ZCash is patronized by millions through credible and authentic cryptocurrency exchanges with huge daily volumes. If you are uncomfortable researching and choosing from a list of more than 100 cryptocurrency exchanges and brokerages, you can use eToro to safely and securely hold your ZCash coins.
Alternatives to ZCash
ZCash has been forecasted to reach new highs by the end of 2021 and beyond. This does not mean this is the only cryptocurrency on the market with great potential. Digital assets such as Dash (DASH), Monero (XRM), Cardano (ADA), Tronix (TRX), Tezos (XTZ), Chainlink (LINK), OMG Network (OMG), Stellar Lumens (XLM), Bitcoin Cash (BCH) and, EOSIO (EOS) have great innovative products that keep driving its price. Despite the ups and downs in the current overview of the market, these digital assets have still returned at least 50% for investors. Conducting an independent review of these crypto trading assets and getting to know everything about them can go a long way towards adding a substantial passive income to your finances.
Conclusion: Is ZCash A Good Investment?
YES, investing in ZCash is worth considering. For those who patronized ZEC on 1st January 2021, investing in ZCash has proven to be one of the wisest decisions they ever took.
In January 2021, ZCash was trading at a coin for around $60. If you purchased 1000 ZEC at $60,000, by June, your investment would have doubled to $120,000.
So is ZCash a good investment? In June where it is currently trading at a relatively lower price, ZCash is considered a good investment. After considering the risks versus the rewards, the third week of June could just be the perfect time to make a move on the digital asset.
While no investment is risk-free, investing in ZCash has generated huge returns for long-term holders over the years. Whether you are new to ZCash investing or just curious about how to make the most of your investment, understanding all that you have to know before investing in ZCash is extremely crucial to your trading and investment journey.
In the end, the financial decision comes down to you. What kind of a trader are you? What kind of investor are you? Figure that out, adopt a winning strategy and you will get to know if ZCash is a good investment.
If you are feeling inspired to start investing in ZCash, you may be pleased to know that eToro provides the ability to trade with crypto assets and CFDs on up to 90+ cryptocurrencies.
eToro – Best Broker To Buy Zcash
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
FAQs
Is ZCash dead?
NO! ZCash is not dead. The project is very much alive and continues to gain extensive mileage in the space through deployments on other crypto projects. Aside from that, it's recording huge daily volumes which signal the cryptocurrency ZEC is very much alive and continues to see more liquidity.
Is ZCash better than Bitcoin?
NO! ZCash is not better than Bitcoin. They are cryptocurrencies that primarily function as transactional currencies. ZCash scales relatively faster than Bitcoin but BTC is still involved in more daily transactions than ZCash.