Zcash (ZEC) is a digital currency known for its strong privacy features. By using cryptographic technology to maintain the anonymity of transactions, Zcash allows its users to transact efficiently and safely.
If you want your transactions to remain private and you want to buy Zcash, you’ve come to the right place.
This comprehensive guide will help you understand what Zcash actually is and show you the best places to buy ZEC in the UK
How to Buy Zcash UK – Quick Steps
Whether you’re a beginner or a seasoned trader, one of the best platforms to buy Zcash is eToro. This FCA-regulated broker will allow you to get your hands on Zcash within minutes.
Let us take you through all the essential steps of buying Zcash on eToro:
Step 1 – Open an account with eToro
To get started with eToro, visit the eToro website and create an account. You just need to provide some contact and personal information.
Step 2 – Get Verified
eToro will ask you to upload proof of ID and address. You can upload a passport or driver’s license and a bank statement or utility bill.
Step 3 – Deposit Funds
The minimum deposit on eToro in the UK is $10. You can choose from e-wallets, bank transfers, and debit/credit cards.
Step 4 – Search for Zcash
To find Zcash, type “ZEC” in the search bar.
Step 5 – Buy Zcash
Let eToro know how much money you want to spend (from $10 upwards) and click on ‘Open Trade’ to confirm.
Where to Buy Zcash UK?
You’re probably also wondering where to buy Zcash. There are multiple platforms that offer Zcash, but finding the best crypto exchange in the UK is no easy task.
We’ve reviewed what we think are arguably the best places to buy Zcash:
1. eToro – Overall Best Place to Buy Zcash UK
If you’re looking for a quick and simple way to buy Zcash, you should opt for the financial broker eToro. The platform is incredibly versatile and flexible, so it’s no wonder it became one of the most popular and trusted names in the crypto world.
More importantly, eToro is well-regulated. In fact, it’s registered with the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Exchange Commission (ASIC) and the Financial Industry and Regulatory Authority (FINRA).
eToro operates in more than 50 countries, and it has offices in the UK as well as in the US.
Furthermore, eToro is very affordable. People like it because there are no charges for signing up, deposit, and account management. And for trading, the broker charges 1% for buying or selling crypto. You can see this 1% when a position is opened or closed, as the percentage is included in the price.
The minimum balance on eToro is $10 (approximately £8), which is great for beginners. You can use e-wallets, cards, and other payment options. And you don’t have to go through a long process; everything is quite simple and straightforward.
Also, eToro is beginner-friendly because it’s very easy to use. Plus, it’s exceptionally safe. The platform offers advanced encryption and masking technologies to protect your account. Moreover, the broker implements two-factor authentication (2FA).
Finally, eToro offers great extra features. A handy CopyTrader tool will allow you to mirror the moves of more experienced traders. And there’s also the eToro Money Crypto Wallet for you to store ZEC and make safe and easy transactions.
2. Crypto.com User-Friendly Exchange to Buy ZEC
Another beginner-friendly platform to buy ZEC in the UK is Crypto.com.
In fact, Crypto.com is one of the best altcoin exchanges, and it has become very popular thanks to its successful marketing campaigns.
But the platform is also popular among crypto beginners because it has a rather low minimum deposit. On Crypto.com, you can deposit as little as 1$, and that makes it a serious competitor to eToro.
Based in Singapore, Crypto.com is regulated by the Malta Financial Services Authority (MFSA), in addition to having an Australian Financial Service License (AFSL).
In terms of funding, Crypto.com is quite flexible. You can choose from credit cards, bank accounts, and even a dedicated payment service called Crypto.com Pay. You can also earn passive income with the platform’s crypto interest accounts.
And when it comes to fees, things can get a bit complicated. The thing is, Crypto.com charges different fees based on a tier system. So, their system grades users based on their trade volumes.
For example, Level One users are charged 0.4% on taker and maker fees, and Level Two users are charged 0.35% for spot trading. Also, you’ll get a 10% discount on the maker and taker fees if you stake their native token CRO.
Either way, Crypto.com doesn’t charge for deposits. You should keep an eye out for withdrawal fees though.
Finally, Crypto.com has strong security features. The exchange holds 100% of customers’ crypto deposits in cold storage, and fiat deposits for U.S. traders are held at Metropolitan Commercial Bank.
Moreover, there’s a 2FA for information security as well as a $750 million insurance fund to protect users in case of hacks.
3. Coinbase – Low Minimum Balance for Beginners
If you’re new to crypto, let us introduce you to one of the most popular crypto exchanges in the world.
Based in San Francisco, Coinbase is regulated by the Financial Crimes Enforcement Network (FinCEN), but it’s also registered as a money transmitting business by the Financial Conduct Authority (FCA) in the UK.
Coinbase is a great choice for newcomers because it’s very user-friendly. It offers a quick sign-up process and a minimum deposit of $2 (one of the lowest minimum deposits).
The exchange is also popular among active traders as it has an instant buy and sell feature. It’s also very fast and easy to use, so it’s suitable both for beginners and experienced traders.
Advanced traders find Coinbase Pro very appealing – it’s a dedicated trading service offering access to speculative needs like margin facilities and trade derivatives.
Furthermore, fees on Coinbase vary between 0.5% and 4.5%, depending on the transaction type. You should bear in mind that Coinbase’s fee structure isn’t the lowest in the market.
However, there are many ways to buy ZEC on Coinbase. You can buy it with a credit card, PayPal, Skrill, or Banxa, or pay with a bank account, while the bank wire option isn’t available in all countries.
4. Binance – Largest Exchange to Buy Zcash UK
With almost $24bn of crypto traded every day, Binance is the largest crypto trading platform in the world.
Binance was initially based in China but it moved its headquarters to Hong Kong and Malta. Operating as a floating entity, the exchange operates in over 100 countries.
Apart from being popular and well-developed, Binance also offers several benefits. First of all, you can buy Zcash really quickly. Secondly, you can also invest in NFTs and stake your coins on the Binance app with ease.
When it comes to depositing options, Binance offers many possibilities. You can buy Zcash with a debit or credit card, use PayPal, or buy it with any of the other e-wallet options. Bank transfers and peer-to-peer (P2P) options are also available.
The minimum deposit on Binance is $10 (approximately £8), so compared to its competitors, Binance is not very different. It also charges 0.10% for regular trading fees, but if you hold its Binance Coin (BNB), you’ll get a discount and pay 0.075%.
Furthermore, the exchange offers more than 600 coins, which allows you to trade ZEC for most of the popular coins on the market.
Binance also offers several assets for investors based on their risk level. For instance, investors who are risk-tolerant will enjoy advanced trading features like Futures and Margin trading.
But if you’re a passive trader, you can use Binance’s savings and staking tools for earning passive income with your ZEC holdings. So, Binance is suitable for risk-averse investors as well.
Either way, Binance puts a lot of effort into securing its users’ information. It utilizes 2FA, advanced data encryption, and whitelisting.
5. Kraken – Low-Fee Exchange to Buy ZEC with GBP
Founded in 2011, Kraken is one of the earliest crypto exchanges that provides a top-notch service to UK traders. It is also one of the largest exchanges by trading volume in the market, although still pretty small compared to Binance.
Ease of operation is one of the advantages of Kraken over other exchanges. UK users can easily deposit their fiat GBP currency and exchange it for Zcash in a few steps.
Also, the platform supports various payment methods, especially bank transfers that are processed with Faster Payments. Therefore, from the registration to the processing of your payment, everything is done at light speed.
Apart from these, Kraken provides one of the best trading fees in the market. Regular traders enjoy a maximum of 0.26% on trades, while large-volume traders enjoy more discounted fees on their trades.
Meanwhile, the spread fees are extremely low as it provides real-time exchange rates.
Kraken has a fairly complex user interface that can be difficult for beginners to navigate.
However, it takes no time to get familiar with the interface. Meanwhile, Kraken has more than 100 token listings making it possible for users to buy Zcash and several other cryptocurrencies in the UK.
What is Zcash?
In essence, Zcash focuses on privacy and anonymity in transactions. It uses advanced cryptography to ensure optimal masking and enhanced privacy. That being said, Zcash is actually one of the most undervalued cryptos out there.
Zcash was initially called the Zerocash Protocol, so it’s something called a fork. In other words, it’s an asset that broke out of another cryptocurrency.
To be more precise, ZEC is a fork of Bitcoin, so it is somewhat similar to the famous crypto. One of the similarities is their original code and a limited supply of 21 million tokens.
Nevertheless, before Zcash, cryptocurrencies were made to be “pseudonymous”. So, all transaction data, including both the addresses that sent funds and those that received them, were recorded on the blockchain.
Therefore, data could be linked to individuals who made transactions, which doesn’t make the whole process very private.
But Zcash managed to find a solution and came up with the so-called shielded addresses. They are designed to encrypt transactions and addresses stored on the blockchain.
However, the blockchain asks customers to choose their level of anonymity. There are two types of addresses to choose from: transparent and shielded.
You can easily make transactions between these two types, and you’re also free to transact with the privacy level you want.
And Zcash, on the other hand, uses a type of zero-knowledge cryptography for shielded transactions.
It’s called a zk-SNARK, and it ensures that transaction verifiers don’t know anything about the data in the transaction, except if it’s true or false. This also enables transaction verifications to be done within milliseconds.
All things considered, Zcash managed to find a way to ensure transaction privacy without affecting the transaction speed.
Is Zcash a Good Investment?
You’re probably still asking yourself: “Should I buy Zcash?” Well, let’s take a look at some of the factors that might affect your decision.
Focused on Privacy
As we’ve already mentioned, Zcash is heavily focused on privacy and, unlike its competitors, it allows its users to process transactions anonymously. So, if you’re looking for enhanced privacy, buying ZEC might be a good option for you.
Passive Income Opportunities
Another popular activity you might be looking for is staking. If that’s the case, you’ll be happy to hear that Zcash is a stakable asset.
In fact, it’s ideal for traders who want to earn consistent returns instead of speculating. With proof-of-stake (PoS) coins, you can earn passive income through staking, the same as you can commit coins to support blockchains and networks.
Secure Blockchain Platform
On the Zcash blockchain, there are thousands of participants ensuring that all data is immutable, which ultimately makes Zcash highly secure. After all, it’s one of the most popular blockchains.
Plus, Zcash uses shielded addresses that encrypt the stored transaction data and ensure that your details remain private. Your transaction recipient’s details will stay private too.
Scalable for Large Transactions
Another important thing that Zcash ensures is that transactions can be processed quickly. It ensures fast block times (75 seconds), so it can handle up to 20 transactions per second. And that’s more than Bitcoin which handles approximately 4 transactions per second.
Nonetheless, this speed depends on network congestion. Therefore, if there are many other investors engaged with the platform and sending transactions, your transaction might not get accepted into the first block.
The current ZEC price is £74.05. Its trading volume in the last 24 hours is £87.4m, and it’s now ranked #44 crypto by market capitalisation.
You should also bear in mind that Zcash can sometimes beat the downward pressure of other assets experiencing price corrections and that it benefited from the recent bullish run of the market.
Zcash Price Predictions
To determine whether Zcash is a good investment, investors usually take a look at price predictions. As they are based on speculation, you shouldn’t rely on them too much.
After all, the whole crypto market is highly volatile so it’s not easy to formulate predictions. However, it’s still possible to determine the potential movements of the ZEC price.
According to some analysts, Zcash could end this year above the $200 price range. If the interest for pseudonymous payment solutions continues to rise, the ZEC price might surge above the $250 range in the middle of 2023.
Furthermore, the centralization of the crypto market is slowly diminishing the power of the masses. With its decentralized structure, Zcash represents a hopeful financial solution. Consequently, we might witness Zcash trading at $300 by the end of 2023.
One thing is for sure: if businesses keep adopting crypto in 2024, the ecosystem would grow and Zcash would benefit significantly. If we witness a record number of adoptions, the Zcash price could reach $410 and even trade above $500 in 2025.
Ways of Buying Zcash in the UK
If you’re ready to buy Zcash, let us show you all the best ways to do it. Luckily, there are multiple payment options to choose from.
Buy Zcash With PayPal
One of the most popular payment methods is PayPal. This method would allow you to fund your crypto brokerage in a rather quick and convenient way.
PayPal transactions are usually completed within minutes. Before you use your PayPal account, you need to enter your account info in the ‘buy’ section of your chosen crypto broker.
However, PayPal charges for transactions depending on the country you’re in. Therefore, you need to be careful about the fees and make sure they’re not too high for you.
Buy Zcash With Credit Card or Debit Card
Credit and debit cards are also preferred by many investors. People use it for day-to-day purchases because they allow you to invest in Zcash in a very simple way. Moreover, credit/debit cards are supported by all the platforms we reviewed today.
If you want to buy Zcash with your credit card, you just need to enter your card details in the ’buy’ section and your wallet will be funded shortly.
But as with PayPal, you also need to be careful about the fees. Your location and transaction size might affect your fees, and different card manufacturers charge different fees.
Best Zcash Wallet
If you want to start investing in a smart and secure way, you should find a reliable crypto wallet. A crypto wallet is a service that connects to a blockchain.
It will keep you up to date with your transactions, as well as allow you to store your assets safely. In a way, the best wallets are a blend of traditional wallets and your bank account.
You can choose from different types of crypto wallets:
Hardware wallets aren’t connected to the Internet, which makes them very safe. In fact, they are physical devices that can store your private and public keys.
Software wallets, on the other hand, are services installed on your devices. There are desktop and mobile wallets. They allow you to store your Zcash and make transactions with ease.
These types of wallets are great for seamless transactions, but since they are software wallets, there’s a risk of hacking. Therefore, it’s crucial to ensure that your device is malware-free when using them.
Paper wallets are pieces of paper that contain your wallet addresses. Some paper wallets also come with barcodes; you can scan them to make a transaction.
Even though they are unhackable, paper wallets are prone to potential loss and theft. That said, it’s important to find a secure location to keep paper wallets.
In our opinion, the best crypto wallet is the eToro Money crypto wallet. It’s beginner-friendly and it will provide you with strong security features like two-factor authentication (2FA) and analytic behaviour machine learning.
The wallet also has multiple levels of encryption, especially for making payments and processing transactions.
You should also bear in mind that this wallet doesn’t give you control of your private keys. But if you lose access to your account, there’s a recovery process you can complete to regain it.
With eToro’s wallet, you’ll be able to send and receive money to and from any other wallet. When it comes to crypto wallets, it doesn’t get better than the eToro Money crypto wallet.
The only potential pitfall is that there are restrictions on transactions. The eToro Money wallet requires that you send maximum transactions of a $10,000 value, and there’s also a daily transaction limit of $20,000.
How to Buy Zcash UK – Tutorial
If you want to buy Zcash with an FCA-regulated broker like eToro, follow these steps, and complete your purchase in less than 10 minutes:
Step 1: Sign up on eToro
First, you need to sign up on Toro. Visit the platform’s website and click “Join Now”.
Then you’ll need to create a password and username, and confirm your account by clicking the link you’ll get in your inbox. You can also sign up with your Facebook or Google account.
Step 2: Get Verified
As eToro operates within the guidelines of multiple regulators, it will have to verify your identity. That’s simply a part of the standard KYC protocol.
You can upload a copy of your ID card, passport, or driver’s license. And as proof of your residential address, you can upload a bank account statement or a recent utility bill.
Step 3: Make a Deposit
Now you need to make a deposit by going to the “Deposit” area on your homepage. You’ll have to deposit at least $10 (approximately £8), and you can do it with a debit card or by using bank transfers or e-wallets.
Step 4: Buy ZEC
To find Zcash on eToro, go to the homepage and type “ZEC” in the search bar. Click on “Open Trade” and let eToro know how much ZEC you’d like to buy. To confirm your order, click on “Trade”.
How to Sell Zcash
If you reach the point when you’re ready to sell ZEC, you can do it as easily as buying it.
Tap on the “Portfolio” button and you’ll see the list of units you have. Select Zcash to check the coin’s value and your profit or loss if you decide to close the trade. If you want to sell, click on Click on “Close Trade” and you’ll get the money in your wallet.
With eToro, you don’t have to go online and search for buyers. The broker will simply buy Zcash back from you when you’re ready.
All things considered, Zcash is a very interesting and unique asset. It’s focused on transaction privacy and allows anonymous movements from one end to another, which ultimately makes it an attractive asset.
If you want to buy Zcash in the UK, you can do it on eToro. This regulated broker is ideal both for beginners and experienced traders. It has low transaction fees, a handy CopyTrader feature and a crypto wallet with top-notch security features.