Getting into crypto, especially if you’re new, can feel a bit confusing. But buying Zcash? It’s pretty easy once you know the steps. You basically pick a crypto exchange, sign up for an account, prove who you are, deposit some money, and then you can buy your Zcash.
Now, there are some different sources for buying Zcash, such as KuCoin, Binance, CoinEx, Kraken, and MEXC. So, before you choose one, it’s good to do research about it. Check out the purchase fees, how safe and secure they are, and what other crypto they offer. They can be pretty different! Also, guess about why you’re buying Zcash in the first place, and how you will buy it. And generally think about what you’re doing before you buy and trade.
So, you want to buy Zcash? Great! In this article, we’ll describe you all about it, step-by-step. We’ll cover everything from picking the right place to buy it to setting up your account, making the actual purchase, and then safely storing your new Zcash.
Finally, we’ll talk about how to keep an eye on your investment, and essential tips for buying Zcash. By the end, you’ll have the knowledge and confidence you need to start investing in Zcash like a pro.
Set Your Investment Budget
Alright, let’s talk money. Before you put any of your hard-earned cash into Zcash, or any crypto for that matter, you need a game plan. Seriously, you need a clear strategy that you’re ready to stick to. Why? Because if you don’t, you’re way more likely to make rash decisions based on your feelings. Maybe the price suddenly drops and you panic-sell, or it skyrockets and you buy in at the peak out of excitement. Those kinds of emotional moves can hurt your investment returns. So, before you even think about buying, here are some things to keep in mind when investing in crypto:
How much should you actually invest?
Here’s the golden rule, it’s super important that never invest more than you’re comfortable losing. Seriously, don’t put in money you’ll need for rent, bills, or, you know, living. This is especially, especially true for crypto. Why? Because the crypto market is like a rollercoaster it can go up and down wildly. Huge price swings are pretty normal, so you have to be prepared for the possibility that your investment could drop significantly.
Just to give you an idea, let’s say you did decide to invest in Zcash right now. At the current price of around $30.30 per ZEC, we can see how much ZEC you would actually get for your money. Let’s take a look at how much ZEC would you get if you invested in Zcash at the current price of $ 30.17 per ZEC.
| Investment | Amount of ZEC |
| $10000 | 331.41 ZEC |
| $5000 | 165.71 ZEC |
| $2000 | 66.28 ZEC |
| $1000 | 33.14 ZEC |
| $500 | 16.57 ZEC |
| $100 | 3.31 ZEC |
What’s the price of Zcash?
Okay, so you’re wondering about the price of Zcash? Right now, it’s going for around $31.36. It’s nudged up a bit in the last 24 hours, like 3.45%. And, on that same day, people traded about $80.6 million worth of Zcash on different exchanges. Now, zooming out a bit. Over the last month, the price has taken a hit, dropping almost 36%. Looking at the last three months, it’s down about 30%. But hey, if you look back over the whole year, it’s up over 50%! It’s also worth noting that Zcash bounced off a low of around $16 back in July, and recently peaked at around $79 in early December. Just to give you some perspective, Zcash used to be worth way more almost $6,000 at its peak! It’s trading far below that now.
Which Strategy you should follow?
If you’re new to this, the simplest and often best approach is something called “dollar-cost averaging,” or DCA. Basically, it means you invest a fixed amount of money at regular intervals, like, say, $50 every week or $100 every month. It doesn’t matter what the price of Zcash is doing. You just stick to your schedule.
This takes the pressure off trying to “time the market” which is really hard, even for professional traders. You don’t have to worry about buying at the perfect moment. Platforms like Binance make it super easy to set up DCA. Now, if you’re more experienced and comfortable with the risks, you might try to time the market by buying low and selling high. Or you might get into technical analysis, which is all about studying charts and patterns to try and predict price movements. But that’s definitely a more advanced approach, and it takes a lot of learning and practice to get good at it. DCA is usually the best starting point for most people.”
Do Research in your Zcash Investment
So, you’re thinking about buying Zcash? Or maybe some other cryptocurrency? Before you jump in, there are a few things you really should do first. It’s like doing your homework before a big test.
Almost every solid crypto project has a whitepaper. Think of it as the project’s main guidebook. It lays out what they’re trying to achieve, the problems they’re hoping to fix, and how they plan to do it. You’ll want to read that. But it doesn’t stop there. You also need to check out the people running the show. Who are they? Do they have a good track record? It is important to see, what has been done. Spend some time looking around online check forums, social media, and anywhere people might be talking about the project. Are there any security concerns? Are any red flags popping up? It’s all about getting the full picture.
One thing to notice is that Zcash’s price is currently higher than its average price over the last 200 days. Think of this 200-day average as a long-term trend line, and being above it is often seen as a positive sign.
Also, Zcash is trading above its 50-day average price too. This 50-day average is like a shorter-term trend, and being above this one is also usually considered a good sign. Now, there’s something called the Fear & Greed Index. It’s a way to see how people are feeling about the market are they scared or excited?
Right now, it’s at 44, which means people are feeling fearful. When we look at different technical signals, it’s a bit of a mixed bag. About 8 of these signals are suggesting things look good for Zcash. But, there are more than 25 signals that are suggesting things might not be so great. Based on all these technical things, some people are predicting that Zcash’s price might go up a bit in the next few days, maybe by around 17%. They think it could reach about $35.23 by February 13th, 2025. Looking a little further ahead to next month, there’s another prediction that Zcash could go up by about 14%. This would mean it might reach around $34 by March 10th, 2025.
| Today’s ZEC Price | $30.14 |
| 5-day ZEC Prediction | $35.23 (17.22%) |
| 1-month ZEC Prediction | $34.31(14.16%) |
| 6-month ZEC Prediction | Unpredictable |
| 1 Year ZEC Prediction | Unpredictable |
Place Zcash Buy Order
Good news! Buying Zcash is pretty much the same process no matter which crypto exchange you use. So, whether you’ve picked KuCoin or something else entirely, you can follow the steps below and you’ll be good to go.
Create a free account on a Crypto Exchange
Alright, let’s get you started! The first step is creating a free account on a cryptocurrency exchange. Think of these exchanges as online marketplaces where you can buy, sell, and trade digital currencies like Zcash.
Some popular and reliable choices include KuCoin, Binance, CoinEx, Kraken, and MEXC. Each of these exchanges has its unique advantages, so it’s worth doing a little research to see which one best fits your needs. During the sign-up process, you’ll need to share some personal details, such as your name and email address. This is standard practice to ensure the security of your account and comply with regulations.
You might also encounter something called “KYC,” which stands for “Know Your Customer.” This is an identity verification process where you’ll be asked to provide documents like a government-issued ID to confirm your identity. While KYC might seem like an extra step, it’s beneficial. Completing KYC often unlocks higher withdrawal limits, allowing you to move larger amounts of crypto in and out of your account. It can also grant you access to additional features, such as the ability to take out crypto loans or participate in staking programs, where you can earn rewards on your crypto holdings.
Make a Deposit and buy Zcash with a Debit or Credit Card
Okay, so you’ve got your exchange account set up and ready to go. Now you need to get some money into it so you can buy Zcash! Here are the main ways to do that, so you can pick what works best for you:
Deposit Crypto:
- If you already have Bitcoin, Ethereum, or any other cryptocurrency in a digital wallet, you can send it to your exchange account.
- The exchange will give you a special “address” for each crypto they support. It’s like an account number.
- Be super careful when you copy and paste the address! If you use the wrong address or send the wrong type of crypto, you could lose your money!
- For this, KuCoin is a pretty good choice because it’s easy to use and supports lots of different kinds of cryptocurrencies.
Bank Deposit:
- You can send money directly from your bank account to the exchange. They usually support common currencies like US dollars (USD), Euros (EUR), and British pounds (GBP).
- Make sure the exchange you’re using supports your local currency!
- Since KuCoin doesn’t let you deposit money directly from a bank, here’s a workaround: Buy Bitcoin on Binance (or Kraken if you’re in the US) using your bank account, then send that Bitcoin over to KuCoin to trade for Zcash.
Credit Card or Debit Card:
- This is often the easiest way, and lots of people use it.
- Unfortunately, KuCoin, Binance, and CoinEx don’t let you deposit directly with a credit card or debit card.
- So, similar to the bank deposit workaround, you can deposit money onto Binance (or Kraken in the US) using your card, buy Bitcoin, and then send that Bitcoin to KuCoin to trade for Zcash.
Make a Buy Order for Zcash
Alright, so when you’re buying Zcash, you gotta decide how you want to place your order. The two main ways are market order and limit order let’s break them down:
Market Order: Think of this as the “I want it now” button. You’re telling the exchange, “Buy me Zcash as fast as you can, and I don’t care about the exact price. You don’t set a price. The exchange just buys it for you at whatever the best price is at that moment, these orders usually go through super fast. Market orders are good if you’re buying a crypto that’s traded a lot, and it’s easy to buy and sell. That way, you’re not likely to get a much worse price than you expected.
Limit Order: This is when you’re more patient. You tell the exchange that, “I only want to buy Zcash if it’s at this price”. You set the maximum price you’re willing to pay, and your order just sits there waiting until Zcash hits your price. If it never hits that price, your order never goes through! The upside is you know you won’t pay more than you wanted. But the downside is you might miss out if the price never drops low enough. These orders can take longer to fill, and sometimes you might miss an opportunity if you set your limit too high.
Monitor your Zcash Investment Performance
With BINANCE, you can easily monitor your Zcash investment using a suite of crypto tools designed to make investing accessible and efficient.
Crypto Portfolio
Okay, so you’ve bought some Zcash or maybe some other cryptos too! Now, how do you keep track of it all? That’s where a “crypto portfolio” comes in portable basis. Think of it like a central dashboard for all your crypto investments. BINANCE, which tracks over 20,000 different cryptocurrencies, lets you add Zcash and any others you own to your portfolio. It’s a great way to see how everything is performing, all in one place. You can easily add new coins, get rid of ones you’ve sold, or update how much you own of each.
The best part? You can access this portfolio on your computer, or your phone with their iOS or Android app. So you can check in on your crypto holdings anytime, anywhere.
Crypto Alerts
Afraid of missing out on the next price rally or buying the Zcash? With crypto alerts, you can set price alerts that will automatically notify you when Zcash or any other asset reaches predetermined price limits. Both email and in-app notifications are supported.
Crypto Profit Calculator
When you’re investing, it’s really important to be realistic about how much your investment might grow. Don’t just cross your fingers and hope for the moon! You need a plan, and you need to have some reasonable price goals in mind.
To help with that, there are tools like crypto profit calculators. You can see how much you’ve invested, see how it might perform over time, and even try out different dollar-cost averaging (DCA) plans.
These calculators often use past market data to give you a possible idea of future profits. It’s not a crystal ball, of course, but it’s way better than just guessing. It helps you to set realistic expectations and make more informed decisions.
Where to Store Zcash?
So, when you buy crypto, you need a place to keep it safe. Cryptocurrency exchanges do let you store your coins there. Some even offer ways to earn a little extra on the crypto you deposit with them.
But here’s the thing, keeping your crypto on an exchange isn’t usually the best idea. Why? Because if the exchange goes bust like FTX, which went bankrupt after messing around with customer money or gets hacked, you could lose everything. The safest way to store your crypto is with something called a “cryptocurrency wallet” These come in two ways:
- Software Wallets: Think of these like apps on your phone or computer. They’re convenient, but because they’re connected to the internet, they’re a little less secure.
- Hardware Wallets: These are like little USB drives that keep your crypto keys super safe, completely offline. Most experts recommend these because they’re the most secure way to hold your crypto.
How to sell Zcash?
Okay, so you now want to sell your Zcash. Now what? Well, you’ve got a couple of options, depending on how you sell it:
- Sell for “Real” money like USD, EUR, etc. You can have the exchange send that money straight to your bank account.
- Sell for another cryptocurrency. You can send that new crypto to a different wallet – maybe one you control directly, or to another wallet.
And is very easy to transfer your crypto to another exchange. Let’s say you want some features or lower fees in another exchange, well you just send your crypto there. Transferring between, say, Binance and KuCoin (or any other exchanges, really) is pretty simple.
Frequently Asked Questions (FAQ’s)
Question: Can you buy a fraction of Zcash?
Yep, you absolutely can buy just a part of a Zcash. You don’t need to buy a whole one. Think of it like buying a slice of pizza instead of the whole pie. You can buy, say, $10 worth, which, these days, would get you a small fraction something like 0.2968 ZEC depending on the price, of course! Most exchanges will let you buy at least a small amount, like $10 minimum.
Question: Is Zcash a good long-term investment?
There are several factors that you should look into that can help you gauge whether Zcash is a good long-term investment, including:
- Fundamentals
- Adoption and community
- Liquidity and stability
- Technological innovation
Question: Is Zcash undervalued right now?
One tool that some people use to see if crypto might be a “good deal” is called the RSI (Relative Strength Index). Right now, the RSI is suggesting that Zcash might be undervalued, meaning it could be a good time to buy. If you’re hunting for these kinds of opportunities, you might want to check out lists of other cryptos that are also considered undervalued.
Question: How much money do you need to buy Zcash?
Just a couple of dollars is enough to buy Zcash, with the exact dollar amount depending on the cryptocurrency exchange you want to use. However, the smaller the amount invested, the smaller the potential upside – and by extension, the lower the risk. At the current buy price, investing $1,000 in Zcash would get you 29.76 ZEC.
Conclusion
Buying Zcash can be simple if you follow the right steps. First, choose a trusted exchange that supports Zcash. Then, set up a secure wallet to store your coins safely. Always check the fees, payment methods, and security features before making a purchase. Finally, stay informed about market trends and only invest what you can afford to lose. By following these essential tips for buying Zcash, you can buy Zcash easily and securely.
