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How to buy, sell & trade ZCash (ZEC) in Australia

A beginner buyer's guide to Zcash (ZEC): Learn how it works, where to buy it and what to consider before buying.

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Zcash (ZEC) is a decentralised open-source cryptocurrency that offers transaction privacy through the use of zero-knowledge cryptography. This means that every transaction is shielded, and it hides the sender, the recipient and the amount of the transaction on the blockchain. However, ZEC is not completely anonymous. Every payment is visible on the public blockchain – only the participants in the transactions and the amounts are hidden.

If you want to learn more about ZEC, read on. Our simple guide will show you where it is available for Australians, steps to buy and sell ZEC as well as things to consider when buying it.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Quick guide: How to buy ZEC

  1. Register for an account with a cryptocurrency exchange like CoinSpot.
  2. Enable 2-factor authentication.
  3. Verify your account.
  4. Click “Deposit AUD”.
  5. Transfer funds into your account.
  6. Click “Buy/Sell” at the top of the screen.
  7. Search for the cryptocurrency you want and click “Buy”.
  8. Enter the amount you want to buy, or the amount of AUD you want to spend.
  9. Review the transaction details.
  10. Click “Buy”.
Go to CoinSpot's site

This is our quick guide to just one way to buy ZEC. Compare some other options in the table below.

Where can I buy Zcash (ZEC)?

You can buy ZEC with a credit card on Changelly or you can buy it on some exchanges using fiat currencies, including Coinspot where you can pay in AUD. You can also buy ZEC with cryptocurrencies, such as bitcoin (BTC) and Ether (ETH).

Exchanges listing ZEC include the following:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
BPAY
Cash
Cryptocurrency
POLi
PayID
AUD

140
cryptocurrencies

CoinSpot is an Australian-based marketplace that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
Bank transfer
BPAY
POLi
Osko
PayID
AUD

80
cryptocurrencies

Buy, sell, trade over 70 cryptocurrencies in AU.
Blueshyft
BPAY
Cryptocurrency
PayID
NPP
AUD

8
cryptocurrencies

CoinJar offers a simple way to buy, sell or trade cryptocurrency with AUD. Enjoy free and instant deposits, flat 1% fees and free withdrawals to your bank account.
Credit card
Debit card
Neteller
PayPal
Wire transfer
Online banking
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

17
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Copy the trades of leading cryptocurrency investors on this unique social investment platform.
Cash
Cryptocurrency
Electronic Funds Transfer
POLi
PayID
AUD

114
cryptocurrencies

Buy 100+ cryptocurrencies using POLi, cash or Electronic Funds Transfer.
Cryptocurrency
USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 23+ more

181
cryptocurrencies

Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Cryptocurrency
USD, EUR, GBP, JPY

156
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
Bank transfer (ACH)
Credit card
Debit card
Bank transfer (SEPA)
USD, EUR, GBP

19
cryptocurrencies

Get US$10 in free bitcoin when you buy US$100 or more of any crypto. T&Cs apply.
Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
Bank transfer (ACH)
Credit card
Bank transfer (SEPA)
Faster Payments Service
AUD, USD, EUR, RUB, GBP, DZD, AOA, SGD, KRW, CAD & 120+ more

15
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.
Credit card
Cryptocurrency
USD

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Credit card
Debit card
USD, EUR, GBP

115
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for more than 35 cryptocurrencies on this global exchange.
AdvCash
Cryptocurrency
Payeer
Perfect Money
Capitalist
USD, RUB

1419
cryptocurrencies

Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Bank transfer
Cash
Cryptocurrency
PayPal
Western Union
JPY, CNY, USD, KRW, RUB, DKK

219
cryptocurrencies

A global crypto exchange with OTC services based in Hong Kong that supports over 100+ cryptocurrencies.
Cryptocurrency
Express Polish Post Office 24/7
Wire transfer
GBP bank transfers
USD, EUR, PLN, GBP

35
cryptocurrencies

This Polish-based exchange offers a variety of accessible payment methods, including Express Polish Post Office 24/7 service and Express DotPay.
Indacoin Cryptocurrency Exchange
Credit card
Debit card
USD, EUR, RUB

158
cryptocurrencies

Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.
Huobi Cryptocurrency Exchange
Cryptocurrency
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+MORE

234
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Liquid Cryptocurrency Exchange & Margin Trading
Credit card
Cryptocurrency
Debit card
Bank transfer (SEPA)
Swapforex
AUD, EUR, JPY, USD, SGD, PHP, HKD

146
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Liquid is a unified, globally-sourced trading platform that bridges the worlds of fiat and crypto.
Bithumb Cryptocurrency Exchange
Cryptocurrency
Wire transfer
KRW

110
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
Poloniex Digital Asset Exchange
Credit card
Cryptocurrency
Bank Wire
-

52
cryptocurrencies

Trade various coins through a global crypto to crypto exchange based in the US.
Coinbase Pro
Bank transfer (ACH)
Bank transfer (SEPA)
Wire transfer
USD, EUR, GBP

26
cryptocurrencies

Formerly known as GDAX, Coinbase Pro is a US-based exchange which offers fiat currency payment options, including wire transfer, ACH bank transfer and SEPA.
OKEx Cryptocurrency Exchange
Bank transfer
Cryptocurrency
WeChat
USD, CNY

146
cryptocurrencies

Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
Bitit Cryptocurrency Marketplace
Cashlib
Credit card
Debit card
Neosurf
Bank transfer (SEPA)
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
Bittrex Digital Currency Exchange
Cryptocurrency
Wire transfer
USD

236
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
ShapeShift Cryptocurrency Exchange
Cryptocurrency
-

51
cryptocurrencies

Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.

Compare up to 4 providers


A step-by-step guide to buying Zcash (ZEC)

Once you've decided to buy ZEC, here are some steps you could follow to buy it:

Step 1. Create an account at an exchange that offers ZEC

Compare exchanges listing ZEC to find your exchange of choice. In doing so, you are undertaking due diligence while empowering yourself to select the exchange that best suits your needs. Once you have chosen an exchange, sign up for an account at their website. Most of the accounts will be created using your email.

Some exchanges require that you submit ID documents for verification. After that, you will be able to deposit funds and trade.

If you want to deposit fiat currencies, a local exchange CoinSpot accepts AUD, but you will need to verify your ID before you can use its services.

Step 2. Deposit funds into your account

Most crypto exchanges accept only cryptocurrency deposits, so you would have to acquire cryptocurrency such as BTC first that can be paired with ZEC. If you decide to use CoinSpot, log into your account and from the Dashboard click "Deposit AUD".

If you have opted to buy ZEC from an exchange which only accepts cryptocurrency deposits and don’t have any crypto such as BTC, you can follow our guide on how to buy BTC. Alternatively, you can check out our guide to getting started with buying cryptocurrency with your AUD.

Step 3. Buying ZEC

To buy ZEC, find a button that says “Exchange” or “Markets” depending on the exchange you selected. Find the relevant pairing from a list of currency pairs, for example ZEC/BTC if you are buying ZEC with BTC or ZEC/USD if you are buying ZEC with USD. You can then proceed to the "Buy" tab where you can enter in the amount you wish to purchase and hit a button to confirm this.

If you are using CoinSpot, you need to click "Buy/Sell” and type ZEC in the search tab. You can then buy ZEC by entering the number of tokens you want to buy or by entering the amount of AUD you are willing to spend. Click “Buy” when you are ready.


How can I sell ZEC?

You can sell ZEC on the same exchange where you buy it. This process is similar to Step 3 above, except this time you would reverse the pairing order (i.e. select “BTC/ZEC” if you wish to sell ZEC in exchange for BTC) and reverse the pairing order (i.e. select “BTC/ZEC” if you wish to sell ZEC in exchange for BTC) and use the Sell ZEC tab.


Which wallets can I use to hold ZEC?

There are multiple types of wallets you can use to store ZEC.

  • Desktop wallets. You can use the wallet included in the official Zcash client, which was designed for Linux, but it was recently modified to work on Windows and Mac OS X. You can also use the Jaxx desktop wallet for Windows, Linux and Mac OS X.
  • Mobile wallets. Freewallet app for Android and the Jaxx mobile app for Android and iOS. You can also choose the Bitpie or Coinomi app for Android and iOS.
  • Web-based wallets. You can use the Jaxx chrome extension.
  • Hardware wallets. You can choose either the Ledger Nano X, Ledger Nano S or Trezor hardware wallets.

While wallets that support ZEC have private keys as a minimum layer of protection for your cryptocurrency, hardware wallets are usually considered the safest among all cryptocurrency wallets.

To learn more about wallets and storing your cryptocurrency, check out our comprehensive wallet guide.


How does ZEC work?

ZEC uses a zero-knowledge cryptography, known as zk-SNARK (zero-knowledge Succinct Non-interactive Arguments of Knowledge), developed by the team behind ZEC. Zero-knowledge proof works by allowing one party to prove to another that a statement is true without revealing any information beyond the validity of the statement. This allows the network to maintain a secured ledger while keeping sender, recipient and amount transferred private.

ZEC also has the option to send public payments that work similar to BTC. Users can choose whether to send private or public payments. If you send a payment from a shielded to a transparent address, the received amount is public, while if you send payment from a transparent to a shielded address, the received amount is private.

Additionally, ZEC is a fork of bitcoin (BTC), and it works on the Equihash memory-oriented proof-of-work algorithm, which means mining is determined by how much RAM you have.

Find out more about how ZEC works in our introductory guide.


What should I consider if I'm buying ZEC?

If you are wondering whether to buy ZEC or any other cryptocurrency, it’s important that you are aware of the risks involved as prices are unpredictable. In addition to this, you should consider the points below if you want to buy ZEC:

  • Supply. According to CoinMarketCap, the circulating supply of ZEC at the time of writing (March 2018) is 3,398,219 tokens. The maximum supply of all coins is set to 21,000,000 tokens.
  • Use. ZEC is a peer-to-peer cryptocurrency which uses zero-knowledge cryptography. While transaction payments are visible on the public blockchain, participants and amounts are hidden.
  • Whitepaper. To find out more about ZEC and the aims of the company behind it, you could read its whitepaper.
  • Partnerships and developments. Bearing in mind that cryptocurrency is speculative and volatile, you can also consider recent significant developments for ZEC. The team behind ZEC has released a list of organisations and individuals accepting ZEC donations and it was announced in May 2017 that ZEC and JP Morgan would be collaborating on blockchain developments.
  • Availability. ZEC is one of the more popular cryptocurrencies and is available on a number of crypto exchanges. You can also buy ZEC with a credit card and with fiat currencies.
  • Market competition. ZEC is a privacy-oriented cryptocurrency but does not provide full anonymity. Cryptocurrencies similar to ZEC, some of which are completely anonymous, are Monero, Bytecoin, Dash, Verge, Spectrecoin, CloakCoin, Hush, NavCoin and PIVX.

Bearing this in mind and using the above as a starting point for your own research, you should be able to make a more informed decision about buying ZEC.


Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Image: Shutterstock

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