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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.
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Quick guide: How to buy ZEC

  1. Register for an account with a cryptocurrency exchange like Swyftx.
  2. Verify your account.
  3. Go to the deposits section
  4. Select your preferred payment method and confirm.
  5. Go to the buy section and select the cryptocurrency you want to buy.
  6. Enter how much you want to buy, or how much you want to spend.
  7. Double check the details and confirm your purchase.
Go to Swyftx'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,POLi,PayID
AUD

196
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 150 cryptos.
Bank transfer,POLi,Osko,PayID
AUD

177
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Interac e-Transfer,Wire transfer,Credit or Debit Card,SEPA,EFT
USD, EUR, CAD, GBP, JPY, AED

24
cryptocurrencies

Canadian-founded Bitcoin and cryptocurrency exchange available in 193 countries.
Credit card,Cryptocurrency,Debit card,Osko,PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

267
cryptocurrencies

Get $5 cashback when you make your first PayID/Osko deposit on Binance.com/au.
Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Credit card,Debit card,Neteller,PayPal,Wire transfer,Online banking
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

16
cryptocurrencies

Disclaimer: Volatile investment product. 75% 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

106
cryptocurrencies

Buy 100+ cryptocurrencies using POLi, cash or Electronic Funds Transfer.
Electronic Funds Transfer,Wire transfer,Osko,PayID,Ethana Custody
USD, EUR, GBP, JPY, CAD, CHF, AUD

47
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken 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.
Credit card,Cryptocurrency
USD, EUR, AUD, CAD, CHF, CZK, DKK, GBP, HUF, ILS & 20+ more

115
cryptocurrencies

Trade various coins through a global crypto to crypto exchange based in the US.
Cryptocurrency
USD, EUR, GBP, JPY

164
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.
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
HitBTC Multi-currency Exchange
HitBTC Multi-currency Exchange
Bank transfer (SEPA),SWIFT
USD, EUR

212
cryptocurrencies

Buy crypto with fiat (USD/EUR) and trade over 150 other digital assets on this Europe-based exchange platform.
Credit card,Debit card
USD, EUR, GBP, AUD, CAD, CHF, HKD, JPY, PHP, ZAR & 30+ more

146
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
AdvCash,Cryptocurrency,Payeer,Perfect Money,Capitalist
USD, RUB

1427
cryptocurrencies

Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Credit card,Cryptocurrency,Debit card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

210
cryptocurrencies

Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Cryptocurrency,Express Polish Post Office 24/7,Wire transfer,GBP bank transfers
USD, EUR, PLN, GBP

41
cryptocurrencies

This Polish-based exchange offers a variety of accessible payment methods, including Express Polish Post Office 24/7 service and Express DotPay.
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.
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.
Liquid Cryptocurrency Exchange & Margin Trading
Credit card,Cryptocurrency,Debit card,Bank transfer (SEPA),Swapforex
AUD, EUR, JPY, USD, SGD, PHP, HKD

132
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.
AdvCash,Bank transfer,Cryptocurrency,Debit card,Payeer
USD, EUR, GBP, RUB, PLN, TRY, UAH, KZT

53
cryptocurrencies

A UK-based cryptocurrency platform that provides buyers with a wide variety of payment options.
Bithumb Cryptocurrency Exchange
Cryptocurrency,Wire transfer
KRW

103
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
Coinbase Pro
Bank transfer (ACH),Bank transfer (SEPA),Wire transfer
USD, EUR, GBP

27
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, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

269
cryptocurrencies

Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
Bitit Cryptocurrency Marketplace
Cash,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

278
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.
Hotbit Cryptocurrency Exchange
Hotbit Cryptocurrency Exchange
AdvCash,Cryptocurrency,Payeer,Perfect Money
USD

512
cryptocurrencies

A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.
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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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