A Step-by-Step-Guide on how to buy Zcash (ZEC)
Step 1 – Signup to Kraken You'll first need to purchase units of the bigger currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click the button below for registration and getting Funds.
Step 2 – Transmit Your ETH (Ethereum) or BTC (Bitcoin) to an Cryptocurrency Exchange Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is similar. Zcash (ZEC) is accessible on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Crypto Exchange? (Follow this guide) Make sure you've selected the correct coin you wish to deposit. BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so forth. In the case you are working with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow these easy steps).
Step 3 – Locate Zcash (ZEC) Once your deposit has been confirmed, you'll now have access to your finances and you can commence buying and trading. To purchase Zcash (ZEC) on Binance, you'll want to go to the tab which is called “Exchange” and after that click on “Basic”. To spot Zcash (ZEC), you will need to put the shortname of the coin (ZEC) into the search box, which is highlighted in the picture. Be certain of having choosen the proper pairing, we've marked this also. Click on “ZEC/BTC” to go ahead.
Step 4 – Buying Zcash (ZEC) As soon as you've found Zcash (ZEC), you'll be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the picture). For now we're going to make our own Limit Order. The ”Price” field will be automatically filled with the most latest tariff Zcash (ZEC) was traded for. You can change this to your desired price. The ”Amount” field is the volumen of ZEC you like to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you will settle for the whole amount of ZEC. If you are happy, make a mouse click on “Buy ZEC”. Your plan will be filled when a Vendor sells their ZEC for the price you submitted.
Step 5 – Withdraw Zcash (ZEC) Unless you're frequently trading, never keep your crypto coins on an Crypto Exchange for an extensive period of time. To take off your Zcash (ZEC), hover over the tab called “Funds” and click on “Withdraw”. Zcash (ZEC) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Zcash (ZEC) by using the given drop-down box. Drop in the quantity of Zcash (ZEC) you'd wish to take off. Take into account the displayed minimus/fees. Also make sure you have filled your precise withdraw address. When you're glad, click on “Submit”. You could be requested for verfication via phone/email before a take off.
Congrats! You have successfully purchased and safed Zcash (ZEC).That's it! Take offs from Cryptocurrency Exchange can take between 1 – 30 minutes (rely on network usage). As soon as you've proved your withdrawal using Etherscan.io or Ethplorer.io and the (ZEC) Zcash is stored in your wallet, you're finished.
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