Zcash (ZEC) Review (UPDATED 2018): A Beginner’s Guide | VKOOL

924 Review(s)
AVG Rating: 7.8/10

What is Zcash?

Zcash is a cryptocurrency that is exchanged privately using what’s known as cryptography.

This allows for all transactions to be free from public knowledge, and it makes it fully fungible.

When making transactions there’s the ability to choose privacy such as ensuring no one knows what was sent, to whom, and from where it came from.


Fundamentals of Zcash

This was released in October 2016 and there is a circulating supply of 3,285,731 ZEC and a market cap of $1,579,178,296 USD.

Unlike other forms of cryptocurrency, with Zcash you have the added protection of knowing that any transported funds are not visibly displayed. This limits the ability for potential hackers to know what you sent and how much you sent.

This uses the Equihash algorithm and Zcash in general is more secure than other crypto as it’s encrypted with a different kind of cryptography.

They use what is known as zk-SNARK which is a unique creation by the Zcash team. With this the ledger is still fully secure, but it has an added layer of privacy to prevent theft.  You’ll be able to look at the specifics of a private transaction by looking at the selective disclosure:

For people who have to display even more transaction information, there is the opportunity to open a memo. This could be useful for situations such as in business or government.

When processing this people can showcase the fact they actually are the owner of the private keys, while also highlighting their total currency.

Concerns with Bitcoin

The biggest concern with Bitcoin is privacy. With Bitcoin there is a possibility for being susceptible to hackers. People who are making transitions have to change the default settings which can be a hassle to perform. Hackers would be able to know for certain what the total amount being sent is. There’s also the amount of time it takes to secure a transaction.  Zcash describes them as being the https to Bitcoins http, offering another layer of security.

Additionally, it may be better to keep this information hidden when operating as a business. It may not be suitable to showcase how much money a person is getting in a transaction.

The Team behind Zcash

The official website highlights the team which includes computer science majors, engineers, and different kinds of web developers. 31 total people are highlighted as well as their experience and social media presence, if any.

The CEO and founder is Zooko Wilcox, who has worked on projects like DigiCash and SPHINCS. He has worked for over 20 years on securing private information and on decentralized platforms.

Unlike other coins that get their start with an ICO, Zcash gained all their funding from private investors such as the founder of Coinbase, and a major Bitcoin investor.

Associates from the team are also active on social media. A dedicate forum is hosted on their website where people pose questions and provide general feedback for Zcash in general. It’s free to join and has a current active community.

Buying ZEC

Many different marketplaces offer it including Poloniex, Binance, Kraken, Bit-Z, Bitfinex, WEX, Upbit, Exmo, Huobi, HitBTC, and several others. You can find updated market information and what the cost is on each site. They also accept different forms of crypto as an exchange, and some even offer fiat currency exchanges.

Storing ZEC

You can sure their wallet which they offer as a free wallet called zcashd. You can also take advantage of free wallet, Bitpie, Jaxxx, Waterhole.io, Trezor, Ledger, and a few others.

There’s also the option of the official desktop version offered on the official website for Windows or Mac. To keep in line with the privacy aspects of this coin, it’s important to keep all information and keys private.

Zcash vs Bitcoin

Bitcoin tech was specially mentioned on the Zcash website, as they hope to provide a more private and stable form of crypto. Currently Bitcoin is still the most well-known popular coin, though Zcash does specify that there are security flaws with Bitcoin. The rate of transfer is also faster, as Bitcoin can take around 78 minutes.  Bitcoin is currently valued at $10,072 USD.

Zcash vs Monero

Monero is a fully decentralized cryptocurrency that is aimed at securing private transactions. This was released as the XMR in2014, and is completely open-source for easy accessibility. A main feature of this is preventing the problems which can come from government interaction and hacking. This is also backed by over 30 different develops.

Zcash vs ZCoin

ZCoin is also made to offer people the ability to secure private transactions. They have a market cap of $235,267,238 USD, and a circulating supply of 4,110,735 XZC. It’s currently valued at $57.23 per coin. A major goal by them is to offer the most secure privacy, and prevent the security issues that major coins have.

Zcash vs Ethereum

Both forms of crypto have had a major increase in their value, though they serve different functions. Ethereum has a much faster block time at 15 seconds, and it is slightly older as it was released in 2015. It focuses more on offering decentralized DApps to prevent the unnecessary use of 3rd party middlemen.

Zcash vs ZenCash

ZenCash was born from a fork of Zclassic and it is used for anonymous transactions. This was released in late 2017. It is limited at 21 million coins and it operates as a public blockchain. This also uses zk-SNARKS and it is looking at offering more features like a secure wallet. It is currently priced at $43.47 and has risen in value since it was released.

Zcash FAQ

  1. What is Zcash?
    A full private cryptocurrency which can also be modified if you want to expose more of what the amount is you’re sending, or to who and from the transaction is being sent.
  2. Is there a Zcash forum?
    They do have an official forum which you can become a member of with a simple sign up process, it’s located here: https://forum.z.cash/
  3. Is Zcash a scam?
    They’ve gained a lot of traction and have not been accused of being a scam. Judging from their team and the user experiences, it seems highly unlikely that it is associated with any kind of scam.
  4. Is there a Zcash Reddit page?
    Yes, and the page is here: https://www.reddit.com/r/zec/
  5. What is the Zcash price?
    As of this review it is at $480.92 USD but it can change dramatically within a short time period.
  6. Is there a Zcash mining calculator?
    A few different options currently exist, we recommend doing a search online and finding a calculator that best suits your needs.
  7. Where can I find a Zcash price chart?
    Websites like coinmarketcap.com offer updated price fluctuations where you can choose the fiat you want to see it compared to.
  8. What is a good Zcash wallet?
    This depends on what you’re looking for either you prefer a desktop option like the company’s official wallet, or if you want mobile use.  Numerous options are currently available like Bitpie, Trezor, and Ledger.
  9. Where can I find a good source for Zcash news?
    Their official website offers a good up to date status report on all their ongoing efforts, as well as their social media and crypto news sources.
  10. What’s a good Zcash price prediction?
    It’s uncertain what the future may hold for Zcash but they have had a major increase in price in the past few months.
  11. What is a reliable Zcash exchange?
    We recommend doing research online as different exchanges have various kinds of rules and fees. Some don’t offer trade for alt coins, others may offer fiat trade, and it depends on what you’re interested in.
  12. How can I buy Zcash?
    There are various kinds of exchanges that offer it for many kinds of crypto or even fiat currency. This includes Upbit, Bittrex, Binance, Poloniex, Bitfinex, Kraken, WEX, and several others.


Zcash offers a fully private and customizable way to make transactions happen at a fast rate. If you need to ensure the keys are in your possession, or a memo of the funds, than you can display this data. The main benefit of this is that it ensures you are secure and not revealing private information.

The team has also been successful in acquiring funds from private investors who have had major success in other projects. They have a dedicated staff that includes some highly regarded scientists and developers. The coin is also doing quite well as it has had an increase of value since it was released. ZEC is widely available on many popular exchanges for easy accessibility, and the official website offers a dedicated desktop wallet.  They also have limited their total supply to 21 million units, and they have developed their own zero-knowledge proof.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

No comments yet.

Your email address will not be published. Required fields are marked *

Advertising Disclosure

Displayed content is offered by businesses which have been compensated. There is a potential effect on how, what, and where products may appear. All effort is made into providing full transparency, not all available products or companies are highlighted. Published material is offered without any slant or bias no matter what affiliation there is with sponsorship or association.