The whole cryptocurrency industry has been built around providing a decentralized means of exchanging value and an alternative to the traditional financial system, so it’s hardly surprising that a token that emphasises privacy continues to attract attention.
ZCash is the cryptocurrency for those who prefer to keep their transactions private. Whilst the removal of a central authority is a key tenet of cryptocurrency’s appeal, many investors and crypto users would rather not have their business activities stored on a universally accessible blockchain - and it is this problem that ZCash was invented to solve.
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But anyone with even a fundamental understanding of cryptocurrency knows that the whole concept of blockchain relies on each network node being able to verify each and every transaction that has ever taken place on a given network - so how can ZCash keep this hidden whilst remaining secure and tamper-proof?
The answer lies in the innovative way that ZCash developers applied encryption to the original Bitcoin ledger system. Of course, Bitcoin users remain anonymous on the network, but ZCash goes a step further and allows transactions between two parties without either having to reveal their payment addresses to each other directly - meaning transactions cannot be traced to a single user.
As more and more everyday internet users are becoming concerned with maintaining their privacy, coins like ZCash are becoming more appealing. In the following ZCash price prediction, we’ll take a look at how this appeal might be reflected in the token’s value over time.
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Contents:
- A Brief History of ZCash
- Is ZCash Still a Leading Privacy Coin?
- Looking at ZCash’s Price History
- What’s Next: ZCash Price Predictions for 2025
- Looking Further Ahead: ZCash Price Predictions for 2030
- Conclusion: Should You Invest in ZCash?
- Where to Invest in ZCash
- FAQs
A Brief History of ZCash
Work actually started on the ZCash project back in 2013, when founder Zooko Wilcox-O’Hearn sought to find a way to meet user demand for an open, decentralised payment system that had additional security when compared to existing cryptocurrencies.
Bitcoin had already become a household name and the developers behind ZCash wanted to keep the same structure but offer increased privacy whilst maintaining the secure fungibility provided by blockchain technology.
Bitcoin is, of course, completely anonymous, but users must provide public addresses in order to exchange tokens. Over time, these addresses can be linked to more and more transactions which can make it much easier for interested parties to form an idea of the identity of a particular address holder.
To remedy this and offer users total, long-term anonymity, ZCash employs zk-SNARKs - or Zero-Knowledge Proofs. This is a cryptographic protocol that removes the need for network users to reveal their payment addresses to each other when exchanging tokens. It also ensures that transactions on the ZCash blockchain are completely untraceable.
Whilst some critics have questioned just how untraceable the ZCash transactions are, ultimately the network offers a higher degree of privacy whilst still providing much of the same functionality as Bitcoin.
Read More: What is ZCash? A Beginner's Guide
Is ZCash Still a Leading Privacy Coin?
Given the nature of cryptocurrency, it will hardly come as a surprise to learn that ZCash isn’t the only privacy-focused token. Dash, Beam and Grin can also be considered privacy coins and arguably at the top of the pile of contenders is Monero. So of all of these, where does ZCash stand and can it continue to compete with other privacy coins?
At the time of writing, it’s probably fair to say that ZCash’s biggest rivals are Monero and Dash.
Monero is often touted as the most anonymous cryptocurrency, as it employees a range of privacy protocols, including its RingCT, stealth addresses and Ring signatures. ZCash, on the other hand, actually allows its users to choose whether their transactions stay hidden. This may seem counterproductive, but it is not difficult to imagine scenarios where someone may want to trace a particular transaction
ZCash slightly lighter range of security protocols also allow the network to be faster and cheaper than Monero, so it could be argued that ZCash has a much better balance of privacy and functionality.
So what about Dash? ZCash and Dash have very similar infrastructures - both being based on the original Bitcoin blueprint. As such, there isn’t a great deal between them. However, ZCash has a slight advantage in that it offers a higher level of privacy, whereas technically, Dash transactions can be traced by those that have access to the nodes that authenticate transactions on its network.
ZCash certainly has its competitors and there’s every chance that technological advancements will allow for ever more private blockchains. However, it certainly has the credentials to hold its own against the current lineup of privacy coins.
Check Out: Is ZCash A Good Investment And Should I Invest in ZEC?
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Looking at ZCash’s Price History
ZCash’s price history has been fairly volatile - event by cryptocurrency standards.
Despite work starting on the project in 2013, the ZCash cryptocurrency was launched in 2016, by which time there was plenty of hype surrounding the token. So much so in fact that it hit sound $2.3m per token after just 40 minutes of trading - making it temporarily the world’s most valuable cryptocurrency.
Of course, this wasn’t just down hysteria surrounding privacy coins. ZCash’s remarkable price movement was more to do with the way in which the coin was released under a “slow start” schedule. The stratospheric price was retained for a very short time period before ZEC came creasing down- the token was actually trading at less than $50 by the end of 2016.
The next year saw some pretty chaotic movement for ZEC. Having dropped as low as $30 in February, things took a dramatic upturn heading into summer, with ZCash soaring to $393.97 in early June. Things then cooled off a bit, before the crypto bubble kicked in at the end of 2017 and sent ZEC as high as $762.45 before everything came crashing down early in 2018.
From summer 2018 until the first quarter of 2021, ZEC rarely crept above $100 with no major upswings or downturns. Things were looking a little bleak for the privacy coin before things picked up in April and the coin reached a respectable $269 in April, pushing up to $309 in May.
At the time of writing, ZEC was holding out at around $139.
Read Also: Should You Buy ZCash?
What’s Next: ZCash Price Predictions for 2025
After remaining fairly low-key for much of 2019 and 2020, ZCash has managed to garner renewed interest from investors as online privacy becomes ever more important in 2022. Whereas some analysts had at one stage written ZEC off, many are now predicting some impressive growth.
Take TradingBeasts ZCash price prediction, for example. According to the platform’s technical analysis, ZCash may reach $165.75 over the remainder of 2022, but by 2023 it may see a slight decline and the token will be trading at $130.06 by December. By the end of 2025, the platform precincts ZCash will be worth up to $271.59 per token.
Elsewhere, WalletInvestor is somewhat more optimistic with its ZCash forecast. It has ZEC reaching a potential high of $422.86 by the end of 2022 - which would represent growth of almost 204% on today’s price. In 2023, WalletInspector predicts that ZCash ZEC will exceed $615 and reach a potential high of $1,286.87 in 2025.
Another platform predicting growth for ZCash is DigitalCoinPrice. It has ZEC climbing back past $194.27 by the end of 2022 and continuing to experience fairly steep growth throughout 2023. By January 2024, ZCash ZEC is expected to have reached an average trading price of $268.63 and by 2025 DigitalCoinPrice predicts it will be reaching highs of $342.99.
Looking Further Ahead: ZCash Price Predictions for 2030
ZCash seems to have come back into favour in recent months, but no one really knows what will happen over the long term - especially when you start talking in terms of years instead of months. Therefore, any ZCash price predictions for 2030 should be taken with a pinch of salt and seen as suggestive at best.
DigitalCoinPrice believes that ZEC will continue to capitalise on this renewed investor interest, with prices reaching an impressive $612.81 in 2029 and continuing to climb over the next years.
Coin Price Forecast has also ventured a ZCash price prediction for 2030. Having collated other forecasts, the platform believes that ZEC will be trading at an average of over $667 per token by mid-2030 - marking an increase of over 343% on today’s price. By the time 2030 rolls around, CPF predicts that a single ZCash token could be worth as much as $613.
Interestingly, neither of the long term forecasts have ZCash returning to anything close to its all-time high and investors are unlikely to see it break the $1,000 mark in the next ten years.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Check Out: 15 Reasons Why You Should Buy Zcash Today
Conclusion: Should You Invest in ZCash?
ZCash certainly offers one of the most anonymous cryptocurrency experiences to be had and, whilst there are other projects that purport to offer completely untraceable transactions, ZCash strikes the right balance between privacy and functionality and so retains its usefulness as a peer-to-peer payment option.
Most ZCash price predictions point to growth over the next five to ten years, so there is every reason to believe that the privacy coin will prove to be a worthwhile investment. Whether or not it can become a major, top-ten cryptocurrency remains to be seen, but ZEC has certainly demonstrated its resilience in recent months.
If you’re looking to expand your crypto portfolio to include privacy coins, then ZCash could well prove a good investment. Ultimately, privacy is becoming an increasingly valuable commodity and it is perfectly plausible that the almost total anonymity offered by ZCash will see it continue to trade amongst the top tokens on the market.
Don't Miss: Pros and Cons of Investing in ZCash
Where to Invest in ZCash
If you want to invest in ZCash then you’ll need to find a reliable broker that lists the coin. Fortunately, ZCash seems to have undergone something of a renaissance in recent weeks and, as a result, many top exchanges and brokers have added ZEC to their books.
There are hundreds of brokers out there, but for reliability, security and functionality, we think you’ll be hard pushed to find better than eToro. The platform has one of the best reputations in the industry and is fully regulated by the Financial Conduct Authority - giving you complete peace of mind that it adheres to the body’s stringent operating criteria.
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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
What is ZCash?
ZCash is one of a group of cryptocurrencies known as privacy coins, due to the fact that its blockchain facilitates complete anonymity, with untraceable transactions. It achieves by an innovative encryption protocol which means those exchanging on the network never have to reveal their public addresses directly to one another.
How much will ZCash be worth in 2025?
ZCash has seen some solid price movement in recent weeks, which many analysts are predicting will continue in the coming years. For example, by 2025 DigitalCoinPrice believes ZEC will be trading at around $342.36 per token.
Is ZCash better than Monero?
ZCash and Monero are both privacy coins and both have their strengths and weaknesses. Whilst Monero arguable stronger privacy protocols, ZCash offers faster, cheaper transactions. Choosing which is the better coin will depend on your own predilections.
Is now a good time to invest in ZCash?
ZCash has seen some good price growth recently, which seems to have cooled for the time being. However, analysts are predicting growth for ZEC over the next five to ten years, so now could well be the best time to add it to your portfolio.
Where can I buy ZCash?
If you want to buy ZCash you need to find a broker that lists the coin - not all exchanges support privacy coins. Fortunately, one of the top brokers in the industry - eToro - has recently added ZEC to its trading platform.
What will ZCash be worth in ten years?
Long term crypto price predictions are notoriously difficult due to the speed at which the market moves. However, as an example, Coin Price Forecast believes that ZEC could reach as high as $667 by 2030.