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 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Exchange Your Bitcoin or Ethereum has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. Zcash (ZEC) is obtainable on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this guide) Make sure you have selected the exact coin you want to deposit. BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etc. If you are using a decentralized exchange, such as Airswap or DDEX could be opposed (Just follow our how-to).
Step 3 – Find Zcash (ZEC) Once your deposit has been confirmed, you'll immediately have access to your assets and you can initiate purchasing and trading. To buy Zcash (ZEC) on Binance, you will want to go to the tab which is called “Exchange” and after that click on “Basic”. To spot Zcash (ZEC), you will need to insert the shortname of the coin (ZEC) into the search box, which is highlighted in the image. Be certain of having choosen the proper pairing, we've highlighted this too. Click on “ZEC/BTC” to proceed.
Step 4 – Purchasing Zcash (ZEC) After you have discovered Zcash (ZEC), you'll be given a Price Chart (in the Center of the picture) and some Order Books (Leftside of the image). For now we're creating our own Limit Order. The field with the “Price” tag will be automatically filled with the most up-to-date tariff Zcash (ZEC) was sold for. This can be changed to your desired rate. The ”Amount” field is the amount of ZEC you want to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you will pay for the whole quantity of ZEC. If you are happy, click on “Buy ZEC”. Your order will be filled when a Seller trades their ZEC for the price you gave.
Step 5 – Withdraw Zcash (ZEC) Unless you're regularly trading, you should never keepyour crypto on an Exchange for an extensive period of time. In order to withdraw your Zcash (ZEC), hover over the tab called “Funds” and click on “Withdraw”. Zcash (ZEC) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Zcash (ZEC) by using the provided drop-down box. Drop in the volumen of Zcash (ZEC) you'd like to take off. Don't forget the presented fees/minimums. Also make sure you have entered your precise withdraw address. When you're satisfied, make a mouse click on “Submit”. You may be requested for verfication via email/phone before a withdrawal.