Zcoin

How to buy, sell and trade Zcoin (XZC)

A beginner’s guide to buying and selling Zcoin in Australia.

Zcoin is a digital cryptocurrency that uses the Zerocoin Protocol to allow private transactions. This Protocol uses zero-knowledge proofs to guarantee anonymity to Zcoin users.

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. 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.

Where can I buy, sell and trade Zcoin?

Zcoin is available on a number of popular cryptocurrency exchanges, including:

Name Product Deposit Methods Fiat Currencies Supported Cryptocurrencies
Cash, BPAY, POLi, Cryptocurrency
AUD
BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG & over 100+ more
CoinSpot is an Australian-based marketplace that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC & 80+ more
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.
Credit card, Debit card
USD, EUR, RUB
BTC, BTG, BURST, BYC, CANN, CFI, CLAM, CLOAK, CLUB, COVAL, CPC, CRB, CRW, CURE, CVC, DASH, DCR, DCT, DGB, DMD, DNT, DOGE, OMG & 140+ more
Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.
Cryptopia Cryptocurrency Exchange
Cryptocurrency
-
BTC, BCH, ETH, LTC, DOGE, NEO, XMR, POWR, DASH, PIVX, XEM, OMG, GNT & 500+ more
Buy and sell hundreds of cryptocurrencies with minimal verification on this all-in-one, New Zealand-based exchange.
CryptoBridge Cryptocurrency Exchange
Cryptocurrency
-
BTC, BCH, RVN, LTC, ALQO, LCC, ECA, SMART, POLIS, BCO, COLX, IC, XP, BWK, HTML, QBIC, ZNY, DOGE, VSX, DASH & over 40+ more
Offering over 80 cryptocurrency pairings, CryptoBridge is a decentralised exchange that supports the trading of popular altcoins.
Bittrex Digital Currency Exchange
Cryptocurrency, Wire transfer
USD
BTC, ETH, XVG, SC, XRP, DOGE, STRAT, XMR, ADA, OMG, ETC, BCC, XLM, DGB, UKG, QTUM, ZCL, RDD, LTC, NEO, XRP & 120+ more
Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.

Compare up to 4 providers

How to buy Zcoin: Step-by-step instructions

If you want to buy XZC in Australia, here’s an example of how you can do it:

Step 1. Create an account at CoinSpot

CoinSpot is a local cryptocurrency exchange that allows you to exchange Australian dollars (AUD) for a number of cryptocurrencies, including Zcoin. You can sign up for a free account by providing your email address and creating a password.

Step 2. Deposit funds into your account

Click the “Deposit AUD” link from your CoinSpot account dashboard to make an online deposit via POLi Payments or BPay. If you haven’t done so already, you’ll need to provide a range of additional information to verify your account. CoinSpot will ask for your email address, phone number, full name, address and proof of ID.

Step 3. Buy XZC

Once verified, click on the “Buy/Sell” link from the menu at the top of your account dashboard. Search for “XZC” and check the current price available. By clicking on the “Buy XZC” link, you’ll be taken to a screen where you can specify either:

  • The amount of XZC you want to buy; or
  • The amount of AUD you want to spend

Next, click “Buy” and review the details of your transaction, including the amount of XZC you’re about to purchase and the total cost (including the transaction fee). Click “Confirm Buy” to finalise your purchase. NB: Many cryptocurrency exchanges don’t offer the option of exchanging fiat currency (ie AUD) for XZC. Instead, you may need to purchase Bitcoin (BTC), Litecoin (LTC) or Ethereum (ETH), or any other crypto offered in an XZC pairing, and then exchange that cryptocurrency for XZC.

How to sell Zcoin

If you want to sell XZC that you already hold, the steps you need to follow are very similar to those listed above, with the obvious difference that you’ll be clicking on the “Sell XZC” link. You will then need to follow the prompts to exchange XZC for your chosen currency, which could be a cryptocurrency or, on some exchanges, fiat currency such as AUD.

Which wallets can I use to hold Zcoin?

The Zcoin official wallet is available for download from the Zcoin website. This wallet works on both Windows and Mac operating systems, while you also have the option to download the Coinomi Wallet from Google Play for use on Android devices.

How Zcoin works

While there’s a widely-held belief among the general population that bitcoin and all other cryptocurrencies are completely anonymous, this isn’t actually the case. As all transactions are kept on a public ledger called the blockchain and readily available to anyone savvy enough to do some digging, law enforcement agencies and researchers have made significant progress towards identifying the people behind cryptocurrency transactions. The Zerocoin Protocol was created in 2013 and was originally meant to be a bitcoin extension. It uses zero-knowledge proofs, which are basically a method of proving something without giving away any data, with the aim of providing private and secure transactions. Performing private transactions with Zcoin involves three steps:

  1. Mint. The first step is to select the number of coins you want to mint. A corresponding number of old coins in your Zcoin account are burned cryptographically, and your account is then credited with new coins that have no transaction history attached to them.
  2. Spend. You can then send your newly minted Zcoins to someone else anonymously because they do not have any transaction history.
  3. Repeat. You can repeat the minting and spending process as many times as you want.

Zcoin was released to the public in September 2016 by Poramin Insom, the founder and lead developer of this cryptocurrency project.

What to consider before buying Zcoin

Cryptocurrencies are complex and speculative, and it’s essential that you’re fully aware of the risks involved before purchasing or holding any cryptocurrency. If you’re thinking of buying ZCoin, make sure you consider the following factors first:

  • Market competition. Zcoin is far from the only company that offers a privacy coin. Monero, Zcash, Komodo, Nav Coin, Verge, PIVX and Dash are just some of the competitors offering coins designed to ensure private transactions, so you’ll need to consider the strengths and weaknesses of Zcoin relative to the competition to help you decide whether Zcoin is worth buying.
  • Demand. The sheer number of cryptocurrencies claiming to offer anonymous transactions certainly indicates that privacy is an important consideration for a lot of cryptocurrency users. However, as the privacy coin sector is highly competitive, this could impact the level of demand for XZC and other similar cryptocurrencies.
  • Supply. The total supply of Zcoin is 21.4 million XZC, with a circulating supply of less than 4 million at the time of writing.
  • Roadmap. You’ll need to consider Zcoin’s scheduled future developments to get an idea of its potential for growth, and you’ll find some of these details in the Roadmap section on the company’s website. You can also find information about Zcoin’s upcoming and ongoing projects through the Zcoin Reddit and other social media channels.

FAQs

Tim Falk

A freelance writer with a passion for the written word, Tim loves helping Australians find the right home loans and savings accounts. When he's not chained to a computer, Tim can usually be found exploring the great outdoors.

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