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How To Buy Zcash Online in 2022

Last updated 18th Aug 2022
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Zcash came to the forefront of many people’s cryptocurrency minds in 2021 mainly because of its various price spikes throughout the year. The coin helps maintain high levels of privacy, making it a popular option for people concerned about sharing their information publicly.

Before buying Zcash, it’s worth doing your research to ensure that a) it’s a good choice for you, and b) you know where and how to purchase it safely and conveniently. This page will highlight the best providers for purchasing ZEC and explain the differences between the main purchasing strategies.

You’ll also find out the payment methods you can use for buying Zcash – plus much more.

Best Brokers to Buy Zcash in 2022

When you’re ready to buy Zcash, you’ll find several providers making this possible. To help you choose the right place, we’ve compiled a list of our favorite ones below.

1
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Key Takeaways

  • Zcash is a privacy-focused cryptocurrency

  • You can buy ZEC on several crypto exchanges, as well as offline

  • Zcash is banned in some countries

  • Owning ZEC is different from buying its underlying assets

  • You can use Zcash ATMs in several locations across the US and Europe, as well as in other parts of the world

What Is the Difference Between Owning Zcash vs. a Derivative Product?

Owning Zcash are two very different things. It’s important to know what each term means before you invest in this cryptocurrency.

When we talk about owning ZEC, the coins you purchased are yours. Often, you’ll do this from a cryptocurrency exchange. In addition to this, you can also purchase Zcash from dedicated ATMs – many of which are in the US. Buying ZEC is also possible from peer-to-peer services, where you’ll buy from another user.

On the other hand, owning a derivative product means that you don’t own the coins outright – meaning that you can’t do anything other than trade with them. You’ll often buy derivatives from a contract for difference (CFD) broker, though Zcash is also tradable via futures contracts. Trading involves speculating on price differences.

Different Ways to Buy Zcash

Buying Zcash is more straightforward than many other altcoins, and you shouldn’t have too many issues finding a place to purchase them. We’ve listed the best ways to buy ZEC and examples of where you can go for each particular method.

Cryptocurrency Exchanges

Cryptocurrency exchanges come in two forms. The first is centralized platforms, which own the coins before purchasing them. The others are decentralized ones, which do not.

In both cases, the process to buy ZEC is very similar. You’ll need to sign up for an account before funding your account and purchasing the coins.

One example of a centralized cryptocurrency exchange is Coinbase, while Binance is decentralized. Both list Zcash.

ATMs

Buying cryptocurrencies from an ATM is a little trickier because you need to know where to find them. Moreover, you cannot purchase all currencies from them.

Fortunately, though, Zcash is widely available at crypto ATMs. Thousands exist worldwide. To purchase your coins, you’ll need to pay with fiat money and select how much you want. After that, you can store the money in an online wallet.

Cities where you’ll find ZEC ATMs include New York City, Chicago, and London. You can also find them in several countries, such as the Netherlands, Italy, and Spain.

P2P Marketplaces

When you buy ZEC from a P2P marketplace, you’ll purchase from another user. In a way these platforms work something like eBay, but for cryptocurrencies.

P2P marketplaces let you talk with the person you’re planning to buy money from, meaning you can vet them to ensure that you trust them. Scams can, and do, happen on websites like this, so you must take this step.

After buying from someone on a P2P marketplace, you should receive the coins once you’ve paid. Paxful is an example of a P2P marketplace where you can purchase ZEC.

Cryptocurrency Brokers

You can buy ZEC assets from a crypto broker if you want to own derivatives instead of the coins outright. Doing so has several benefits; you don’t need to worry about storing your money in a wallet, and you’ll also find that associated fees are often lower.

To trade ZEC, you’ll need to sign up for an account; we’ll speak more about that in a moment. eToro is an example of a well-known crypto broker that offers Zcash.

How to Buy Zcash Online

Buying Zcash online is straightforward. The sign-up process differs slightly depending on the platform you use but is roughly the same when you narrow everything down.

We’ve chosen Coinbase to walk you through the sign-up process to give you a tangible example. You’ll find all of the steps below.

Step 1: Sign up for an account
Step 2: Verify your account
Step 3: Deposit funds
Step 4: Buy your ZEC

*Disclaimer: eToro USA LLC; Virtual currencies are highly volatile. Your capital is at risk.

How to Trade Zcash

Trading can be done on both exchanges and brokers. However, it’s easier to do so with a broker if you’re a beginner; you won’t have to deal with the technical side of investing, such as using cryptocurrency wallets.

Trading Zcash is quite similar wherever you go, but to help you see things in action, we’ll show you how to sign up for eToro below.

Step 1: Create an account and verify it
Step 2: Link a payment option
Step 3: Buy your Zcash assets

*Disclaimer: eToro USA LLC; Virtual currencies are highly volatile. Your capital is at risk.

Crypto Investment Strategy

Cryptocurrency investing has two primary strategies: long and short. We’ve highlighted the difference between these below.

Long-term Holding:

  • Long-term holding is known as “hold on for dear life” (HODL). When you adopt this strategy, you’ll keep a hold of your coins for longer than twelve months. This strategy works best if you anticipate a significant long-term market change that you can profit from.

Short-term Holding:

  • Short-term holding involves keeping your coins and assets for less than twelve months. You might adopt this strategy when you expect a coin to perform well before teetering off; it’s better suited for profiting from short-term market changes.

How to Store Zcash

There are two main ways to store your Zcash: hot and cold wallets.

Your cryptocurrency investment strategy won’t necessarily impact storage options. But considering that it’s a little more time-consuming to use cold wallets, you’ll probably prefer to use them for long-term crypto holding and hot wallets to make a quick profit.

If you’ve invested significant amounts in ZEC, it’s worth putting your money in a cold wallet. Doing so will add an extra layer of security and stop your coins from falling into the hands of a hacker.

Below is an explanation for each of them.

Hot Wallets

  • Hot wallets are software wallets that you can access online, whether from a website or app. Your coins are stored in a blockchain, and you can access them by entering your login details. Many will let you add two-factor authentication, which is a way to provide extra protection.

  • Examples of popular Zcash hot wallets include Coinbase and Trust Wallet.

Cold Wallets

  • When you use a cold wallet, your cryptocurrencies are still stored in a blockchain and you can access them from an app. However, you’ll also need to verify any transactions offline — normally in the form of hardware or paper (whether that’s a QR code or digitized codes).

  • Cold wallets are a little less convenient than hot wallets, but they’re significantly more secure. Examples of cold wallets you can use to store Zcash include Ledger and TREZOR.

What Are the Different Ways to Pay For Zcash?

When you want to buy Zcash, you’ll find several options for doing so. Below, you’ll discover the top payment methods; we’ll provide a brief description and outline the pros and cons for each of them.

Credit/Debit Cards

You can use a credit or debit card to buy Zcash almost anywhere. This payment method is accepted on most crypto exchange and broker platforms and is an easy way to purchase ZEC from an ATM.

If you buy Zcash online with a credit or debit card, fill out your details like you would when online shopping. To purchase them from an ATM, insert your card and enter your PIN like you would for a regular transaction.

Pros

Widely accepted
Convenient
Secure

Cons

Fees are often higher than other payment methods
You need to share your card details online if you purchase them from your computer or smartphone

Bank Transfer

Bank transfers are a simple way to deposit into your account and purchase your coins or assets if you buy ZEC online. You’ll need to select this option at checkout before confirming your payment and how much you’d like to add.

Pros

Simple to use
Widely accepted

Cons

Transactions might take longer than debit/credit cards
Your bank might block the transaction

Digital Wallets

Some platforms will let you purchase Zcash using a digital wallet like PayPal, Skrill, or Neteller. This is a convenient way to buy ZEC, and with Skrill, you can even enjoy fiat to crypto withdrawals in some parts of the world.

Pros

Fast transactions
It’s easy to sign up for a digital wallet account
Some digital wallets offer loyalty programmes and other perks

Cons

Many cryptocurrency exchanges won’t accept this payment method; you’ll often need to use a broker instead

Crypto Trading

If you already have other cryptocurrencies, you can trade these in for ZEC. You can do this with many of the major ones, such as Bitcoin, along with various altcoins. To trade your cryptos for ZEC, you can use a cryptocurrency exchange or wallet.

Pros

Instant transactions
Little to no fees
Secure

Cons

Transactions are irreversible
You need to already have cryptocurrencies, so this isn’t ideal for beginners

What to Consider When Buying Zcash

When buying ZEC, you need to make several considerations. Below, we’ve listed the most important factors to keep in mind.

Different Fees:

  • Regardless of where you buy ZEC from, you’ll need to pay various fees. Crypto exchanges might charge you for deposits and you’ll also pay maker and taker fees. Some platforms will also take a commission. These differ depending on where you go so it’s worth doing extra research.

Volatility:

  • ZEC is highly volatile. In 2021, its price surged beyond $200 and dropped below $100. Values can change quickly. It’s crucial to remember that you can lose a lot of money if you aren’t careful.

Regulations:

  • Zcash’s privacy element makes it controversial in many parts of the world. Some countries, such as Japan and South Korea, have gone as far as banning the currency. Make sure you check local regulations to ensure you’re allowed to buy ZEC.

Is It Safe to Buy ZEC Online?

It’s safe to buy ZEC online, but only if you do so from a reputable source.

When you’ve purchased ZEC, it’s also important to remember that additional risks — such as the threat of cyberattacks — will remain. You can protect yourself further using our tips below.

Store your coins in a wallet

  • you can refer to the dedicated section above for more information on the best places to do this.

Only pass the necessary KYC documents

  • Beyond your ID and proof of address, you shouldn’t need to submit anything else.

Ask only for help on official sites and forums

  • If you need assistance, try to stick to reputable places online. It’s also a good idea to practice due diligence before clicking on any links.

How to Sell ZEC

When you’re ready to sell ZEC, you can do so using one of the various options. We’ve identified these below.

  • Cryptocurrency exchanges

  • P2P marketplaces

  • ATMs

  • Trading other cryptocurrencies

  • Selling to friends

Is It Worth Buying ZEC Right Now?

The recent conversations around online privacy have thrust privacy-focused coins like ZEC into the spotlight. By 2025, optimistic predictions suggest that ZEC’s price could rise beyond $500 — though the currency’s volatility makes it difficult to ascertain whether this will happen.

Nonetheless, we believe ZEC is a worthy long-term investment. However, you need to remember that buying any coin carries risks and the market fluctuates regularly.

Final Thoughts

Zcash is one of the most intriguing altcoins and is available on several platforms. With everything we’ve discussed on this page, we recommend you purchase your ZEC from a broker if you’re a beginner using a bank transfer payment.

If you’re more of an advanced crypto investor, we think you should trade other cryptocurrencies for Zcash and store these in your wallet afterwards.

FAQs

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Khashayar Abbasi

Khashayar Abbasi

Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.