Is Zcash (ZEC) a Good Investment?

Zcash is among the top 100 cryptocurrencies by market cap as of July 2022 and enjoys high trading volume and liquidity on leading exchanges where it is listed. Several investors consider ZEC a less risky investment because of its origin and backing. Having emerged as a fork from the original Bitcoin network and been around in the market for several years, Zcash has an established reputation that bolsters investor confidence in this digital asset. In addition, the Zcash network has forged partnerships with several reputable mainstream businesses, making the project a sound investment. This is a key factor that boosts the ZEC price statistics.The Zcash value could experience an uptrend as it announces more partnerships in the future and its adoption as a payment form picks up. This would increase on-chain activity and drive up the current price of Zcash, making the ZEC crypto an excellent crypto asset to consider. The ZEC price could also benefit from an overall improvement in the market sentiment towards cryptocurrencies. Whenever Bitcoin and Ethereum trade upwards, more investors rush in to buy cryptos across the board, making Zcash and other digital assets also trade bullish.

Can Zcash Reach $1000?

While it is impossible to offer an accurate Zcash price prediction over any duration, several fundamentals could support a pick-up in the ZEC price in the future. The rising adoption of cryptocurrency as a payment method, the announcement of more partnerships, and more innovation could be the key driving factors of an uptrend in the Zcash value. However, for the ZEC price to touch the critical level of $1,000 remains challenging owing to many factors. As of July 2022, the Zcash to USD holds close to $55, far lower than this target. A climb to $1000 would be a significant jump. However, taking a look at the Zcash price history and past performance, we see that the ZEC coin has traded at an all-time high well above this level in the past, in October 2016. Considering this level has been breached in the past, strong support from fundamentals and positive market sentiment could likely take the ZEC price back above $1000 sometime in the future.

Can Zcash Transactions be Traced?

Zcash is a privacy-focused cryptocurrency that uses zk-SNARKs to encrypt transaction details, including information about the sender, amount, and recipient. However, this feature works only for transactions that involve shielded addresses - an additional feature users need to add on and unavailable by default within the network. The use of shielded addresses gives such users the power to reveal details about transactions and make them traceable. Such an option can be exercised when sharing transaction data for audit or regulatory compliance. In addition, the Zcash network does not encrypt multisig data, which means that transactions made when trading ZEC against other cryptocurrencies cannot be encrypted. Such transparent addresses and IP addresses can be traced.

Which is Better: Zcash or Monero?

Both Zcash and Monero are privacy-focused cryptocurrencies but have some key differences. Let’s look at some of the reasons why Zcash is better than Monero: Flexible Anonymity While Monero transactions are always anonymous, Zcash gives you more flexibility. You can send a typical transaction that can be traced or monitored, or you can opt to conduct a shielded transaction where key details are masked. Regulatory Perspective Monero has come under scrutiny from regulators over allegations that its network is used by criminals to send anonymous payments worldwide. However, Zcash lets you divulge transaction data for regulatory or audit purposes, giving you the option to make anonymous transactions but also report them if the need arises. Mining Difficulty As of August 2022, the block time for the Zcash network is lower than Monero. This means it takes less time to verify transactions and produce new blocks on Zcash than on Monero. This, in turn, indicates that it takes lesser effort and time to mine ZEC coins vs. XMR coins.

Can You Dual Mine Zcash and Ethereum?

Dual mining is the process of using the same mining equipment to mine two or more cryptocurrencies, in this case, GPUs for dual mining Ethereum and Zcash. Both are proof of work cryptos that can be mined through contributing computing resources for validating transactions and creating new blocks on the respective networks. However, the Ethereum network is expected to go through a merge sometime in September 2022 and transition to Proof of Stake (POS) completely.While Ethereum mining equipment can be used to dual mine some other cryptocurrencies, Zcash is not one of them. This is because the configuration of the mining equipment differs vastly for mining Zcash vs. mining Ethereum. Here’s how you can mine Zcash:1. Invest in mining equipment. Zcash can be mined on an ASIC miner, which stands for Application-Specific Integrated Circuit miner.2. Connect your mining equipment to the network and configure the mining software.3. You can also join a mining pool to maximize the likelihood of earning rewards and mining ZEC. 4. Connect a Zcash wallet to your ASIC mining rig to let the rewards you earn accumulate in the wallet.

How to Buy ZEC (ZEC)

Price of ZEC (24h)$22.97

-0.79%

Real-Time ZEC Rate Converter

Interested in buying ZEC (ZEC) or exploring other cryptocurrencies? This is the right place for you! KuCoin offers safe and easy ways to let you buy ZEC (ZEC) instantly wherever you are! Check out all the ways you can buy ZEC on KuCoin.

Buy ZEC (ZEC) on KuCoin in Four Simple Steps

Create Your Free KuCoin Account

Sign up on KuCoin with your email address/mobile phone number and country of residence, and create a strong password to secure your account.

Secure Your Account

Ensure stronger protection of your account by setting Google 2FA code, anti-phishing code, and trading password.

Verify Your Account

Verify your identity by entering your personal information and uploading a valid Photo ID.

Add a Payment Method

Add a credit/debit card or bank account after verifying your KuCoin account.

Buy ZEC (ZEC)

Use a variety of payment options to buy ZEC on KuCoin. We'll show you how.

Choose How You Want to Buy ZEC on KuCoin

Buying cryptocurrencies is easy and intuitive on KuCoin. Let's explore the different ways of buying ZEC (ZEC).

Buy ZEC (ZEC) with crypto on the KuCoin Spot Market

With support for 700+ digital assets, the KuCoin spot market is the most popular place to buy ZEC (ZEC). Here's how to buy:

1. Buy stablecoins such as USDT on KuCoin using the Fast Trade service, P2P, or through third-party sellers. Alternatively, transfer your current crypto holdings from another wallet or trading platform to KuCoin. Make sure your blockchain network is correct, since depositing crypto to the wrong address may result in loss of assets.

2. Transfer your crypto to a KuCoin Trading Account. Find your desired ZEC (ZEC) trading pairs in the KuCoin spot market. Place an order to exchange your existing crypto for ZEC (ZEC).

Tip: KuCoin offers a variety of order types to buy ZEC (ZEC) in the spot market, such as market orders for instant purchases and limit orders for buying crypto at a specified price. For more information about order types on KuCoin, click here.

3. As soon as your order is successfully executed, you will be able to see your available ZEC (ZEC) in your Trading Account.

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How to Store ZEC (ZEC)

The best way to store ZEC (ZEC) varies based on your needs and preferences. Review the pros and cons to find the best method of storing ZEC (ZEC).

Store ZEC in Your KuCoin Account

Holding your crypto in your KuCoin account provides quick access to trading products, such as spot and futures trading, staking, lending, and more. KuCoin serves as the custodian of your crypto assets to help you avoid the hassle of securing your private keys on your own. Make sure to set up a strong password and upgrade your security settings to prevent malicious actors from accessing your funds.

Hold Your ZEC in Non-Custodial Wallets

"Not your keys, not your coins" is a widely recognized rule in the crypto community. If security is your top concern, you can withdraw your ZEC (ZEC) to a non-custodial wallet. Storing ZEC (ZEC) in a non-custodial or self-custodial wallet grants you complete control over your private keys. You can use any type of wallet, including hardware wallets, Web3 wallets, or paper wallets. Note that this option may be less convenient if you wish to trade your ZEC (ZEC) frequently or put your assets to work. Be sure to store your private keys in a secure location as losing them may result in the permanent loss of your ZEC (ZEC).

What Can You Do with ZEC (ZEC) on KuCoin?

Hold

Store your ZEC (ZEC) in your KuCoin account.

Trade

Trade ZEC (ZEC) in the spot and futures markets.

Earn

Earn passive income by staking or lending ZEC (ZEC).

Why Is KuCoin the Best Platform to Buy ZEC (ZEC)?

Safe and Trusted

Our regular Proof of Reserves (PoR) mechanism ensures that customer funds are backed by 1:1 real assets. KuCoin was named one of the Best Crypto Exchanges by Forbes in 2021 and selected by Ascent as the Best Crypto App in 2022.

High Liquidity

Boasting a high liquidity order book for all listed cryptocurrencies, KuCoin delivers a liquid trading experience with tight spreads.

Home of Crypto Gems

KuCoin supports more than 700 cryptocurrencies and is the best place to find the next crypto gem. Buy ZEC and trade it against various digital assets on KuCoin.

Intuitive Interface

Buying ZEC (ZEC) on KuCoin is quick and easy, thanks to our intuitive interface and powerful technology. Obtain ZEC in an instant when you buy on KuCoin.

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FAQ

Is PayPal USD (PYUSD) a Good Investment?

Investing in PayPal’s stablecoin can be a good option for several reasons:

PYUSD’s Value Is Pegged to the USD

PYUSD is a stablecoin whose value is pegged 1:1 to the US dollar. This stability can make it an appealing choice for investors looking to avoid the price volatility often associated with cryptocurrencies.

PayPal USD Is Fully Backed By US Dollar Deposits

PYUSD is fully backed by US dollar deposits, short-term US treasuries, and similar cash equivalents. This backing provides confidence that each PYUSD is backed by tangible assets.

Transparency Reports From Paxos

Starting in September 2023, Paxos, the issuer of PYUSD, committed to releasing detailed monthly reports on the assets backing PYUSD. This transparency can build trust among investors.

Integration with PayPal

PYUSD is integrated into the PayPal ecosystem, allowing eligible US customers to purchase, hold, and transfer it. This integration can increase its utility for online payments.

Earning Potential

Some investors may consider PYUSD for its potential to earn interest. PayPal's strategy includes earning interest on the deposits backing PYUSD, potentially offering a yield to investors.

Diversify Your Portfolio with PYUSD Coin

For crypto investors, adding a stablecoin like PYUSD to their portfolio can serve as a risk management strategy, allowing for quick conversion to a stable asset during market turbulence.

What Is PYUSD Stablecoin Used for?

PYUSD, PayPal's stablecoin, serves several important use cases within the digital payment ecosystem:

Make Online Payments

PYUSD can be used for online purchases and transactions wherever PayPal is accepted. This includes payments for goods and services from various online merchants, making it a convenient digital currency for e-commerce.

Cross-border Money Transfer

PYUSD can facilitate cross-border payments and remittances. Its stable value makes it a reliable choice for sending money internationally while avoiding exchange rate fluctuations.

Trade Digital Assets

Cryptocurrency traders and investors can trade PayPal USD against more volatile cryptocurrencies and use it as a stable intermediary when transitioning to fiat currencies. It provides a stable store of value during trading.

Store of Value

If you want to store your digital assets in a stable form, PYUSD offers a secure and stable option. It helps protect against the price volatility often associated with other cryptocurrencies.

Potential Interest-Earning Opportunities

While not the primary use, PYUSD may offer the potential to earn interest in the future. PayPal has expressed its strategy to earn interest on the assets backing PYUSD, which could provide an additional incentive for holding it.

Use Within PayPal

PYUSD is integrated into PayPal's digital wallet, making it easy for PayPal users to buy, sell, hold, and transfer this stablecoin within the PayPal app or website.

Mitigate the Risk of High Market Volatility

Cryptocurrency investors can use PYUSD as a risk mitigation tool during periods of high market volatility. Converting assets into a stablecoin can help preserve value during uncertain times.

How Will PayPal Make Money By Issuing PYUSD Coin?

PayPal has a strategic approach to generating revenue through its stablecoin, PYUSD. Here are some ways PayPal could generate revenue through its stablecoin:

Earn Interest on Assets Backing PYUSD

One of the primary ways PayPal aims to make money from PYUSD is by earning interest on the assets backing the stablecoin. PYUSD is fully backed by US dollar deposits, short-term US Treasuries, and similar cash equivalents.

By investing these assets, PayPal can earn interest over time, contributing to its revenue. This approach aligns with PayPal's goal of making PYUSD an extension of the PayPal balance, allowing users to earn interest on their holdings. PayPal's approach to earning interest on PYUSD assets differentiates it from other major stablecoins. Its potential to earn interest sets it apart and makes it more attractive to investors.

Earn From Transaction Fees

PayPal may charge transaction fees as a payment processor when users make payments or transfers using PYUSD. While this fee might be nominal, the cumulative effect of a large user base exceeding 400 million can generate significant revenue for the company.

Enhanced User Experience on PayPal

PYUSD is integrated into the PayPal ecosystem, allowing users to use it within the PayPal app or website seamlessly. This integration enhances user engagement with PayPal's services, potentially leading to increased usage of other PayPal financial products and services, such as lending and investments, which can contribute to revenue growth.

Offering a stablecoin like PYUSD can enhance user loyalty by providing a stable and convenient digital currency option within PayPal's ecosystem. Satisfied users may continue using PayPal’s other services, contributing to the company's revenue.

What Is the Difference Between PayPal Stablecoin and Tether (USDT)?

PayPal USD (PYUSD) and Tether (USDT) are both stablecoins, but there are several significant differences between the two:

Issuer and Backing

PYUSD is issued by PayPal and is backed by US dollar deposits, short-term US Treasuries, and similar cash equivalents. It is fully collateralized, aiming for stability.

USDT, on the other hand, is issued by Tether Limited. While USDT is also intended to be backed 1:1 by the US dollar, there have been historical concerns and controversies regarding its full backing and transparency.

Centralization vs. Decentralization

PYUSD is centralized, with PayPal as its issuer, and is issued only on the Ethereum network as of September 2023. This means PayPal has control over its issuance and operations.

USDT started as a centralized stablecoin but has expanded to operate on multiple blockchains, including Ethereum, Tron, and others. This has led to a mix of centralized and decentralized aspects.

Use Cases and Ecosystem

PYUSD is primarily integrated into PayPal's ecosystem, offering convenience for PayPal users to hold and use it within their accounts. It can be used for payments and transfers. PYUSD is a relatively new stablecoin, and its market adoption may depend on the growth of the PayPal ecosystem and user base.

As the top stablecoin, USDT is widely used across various cryptocurrency exchanges and platforms for trading, liquidity provision, and a stable store of value. It has a broader ecosystem beyond a single platform.

ZEC (ZEC) Price Analysis

Live Price

The live price of ZEC is 22.9 USD, representing a decrease of -1.58% in the past 7 days and -0.79% decrease in the past 24 hours.

Historical Trends

The all-time high of ZEC was 5,941.799 USD on 10-29, 2016, from which the coin is now down -99.61%.
The all-time low of ZEC was 18.11 USD, from which the coin is now up 20.94%.

ATL$ 18.11

ATH$ 5,941.79

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Disclaimer

Given the nature of the crypto market, the price of ZEC (ZEC) is subject to high market risk and price volatility. We recommend you invest in digital assets only after you understand how they work and their associated risks. Other factors to consider when devising your crypto investment strategy include your experience level, financial situation, investment objectives, and risk tolerance. You could also consult an independent financial advisor before buying cryptocurrencies. The above information is not financial advice, and past performance is not a reliable indicator of how the market will fare in the future. The value of your investments and assets may rise or fall based on market conditions, and there is no guarantee that you will get back the amount you invest or profit from your investments. Your investment decisions are your sole responsibility, and KuCoin is not responsible for any losses you may incur when you buy crypto on its platform. We rely on third-party sources for price and other data related to the cryptocurrencies listed above, and we are not responsible for its reliability or accuracy. The information is provided to you solely for informational purposes and is not warranted by KuCoin.