Trade Recommendation: ZEC to BTC
How does Zcash Works? How to convert ZEC to BTC? Quickly and easily calculate foreign exchange rates with this free Currency Converter. There are not many anonymous coins in the crypto market. Still, their number is increasing over time; for example, Litecoin developers want to increase the anonymity of their network shortly. As of the end of April 2021, Monero and Zcash remain the leading players in this market segment. Today we will talk about Zcash, find out its features, and analyze the rate and prospects of the project.
How Zcash Works?
Zcash offers zero knowledge-proof technology. All that an outside observer knows is the very fact of a transaction. It is impossible to find out who paid whom and how much. This information is not available on the blockchain. Previously, transactions with this level of protection took up too much network space and were inaccessible to the owners of “light” wallets. The developers have now fixed this problem.
There are two types of addresses on the Zcash network: public (t-addresses) and secure (z-addresses). T-addresses work the same way as Bitcoin, Ethereum, or any other pseudo-anonymous coin. Transfers between t-addresses are open, and anyone can track them. Transactions from “t” to z-address either don’t guarantee complete anonymity since there are ways to follow them. However, transfers between z-addresses are protected, and it is impossible to trace them. Here you can get an idea about how to convert easily ZEC to BTC?
Is It Too Late to Invest in ZEC in 2021?
To answer this question, let’s analyze the recent ZEC price trends. In November 2020, the cryptocurrency market started moving up actively. Almost all assets began to grow, and ZEC was no exception.
As of the end of April 2021, the ZEC exchange rate was $230. It is 74% less than the all-time high on January 8, 2018. At the same time, Bitcoin surpassed its previous maximum by 175%, while Ethereum did it by 85%. It means that investors and traders undervalue the Zcash coins at this stage. It is better to buy an asset when it is not yet widely discussed in terms of ROI.
Where to Buy and Convert ZEC to BTC?
ZEC is listed 50th in the global cryptocurrency ranking. Its level of liquidity is still high, even though it was excluded from some centralized exchanges over the past year. ZEC’s daily trade turnover exceeds $600 million.
Due to regulators’ attempts to control the market, many investors are looking for opportunities to buy cryptocurrencies anonymously. Unfortunately, this is not possible on most centralized exchanges. The easiest and most profitable option for purchasing digital coins anonymously is the Godex decentralized exchange. There are 201 cryptocurrencies available for swapping at fixed fees.
The platform has a straightforward and intuitive interface that anyone can easily understand. To exchange one ZEC to BTC, you need to use the calculator tool on the platform’s main page. With its help, you can find out the current rate of 1 ZEC to BTC and swap them in a couple of clicks. No need to register and share any information about yourself.
ZEC Forecast for 2021
To begin with, No one can know the future of ZEC for sure. If you stumble upon “100% information” somewhere on the Internet, you should not believe it. Newbies should remember that there are a lot of scammers who are trying to manipulate inexperienced traders in the industry. We can only analyze the data array we have and assume what will happen to the asset price in the future. Four main factors can influence the further behavior of the ZEC price:
- Market trend. While the entire market is moving up, the ZEC is likely to grow along with it. If the trend changes to bearish, the candles on the chart will certainly turn red.
- Halving. The first halving on the Zcash network took place in November 2020, and the rate of coin mining decreased by half (from 6.25 ZEC to 3.125 ZEC). It will have a positive effect on the price in the long run.
- Canopy update. The distribution of mined coins changed in the network on the same day as halving. They established a fund to sponsor the work of independent developers. It will receive 8% of all mined ZEC. It will positively affect the speed of development and introduction of the coin to the masses.
- Regulatory policy. The authorities and central banks don`t support anonymous digital coins. They don’t have the competence to ban them completely, but they can slow down their development. Currently, their regulation looks vague, which causes certain concerns in the crypto community.
Last word on ZEC to BTC:
Zcash presents itself as an anonymous cryptocurrency. It has been on the market since October 2016, and the developers have done an excellent job since then. It has good prospects for the future and should definitely stay in a long-term portfolio of investors. However, if you want to make money by investing, don’t forget to diversify your assets.