How to exchange Zcash for Bitcoin
We created this easy guide to demonstrate how you can exchange Zcash with any currency. ChangeNOW, one of the best Zcash trading platforms, offers the best exchange rates for more than 160 coins. Account setup is not needed!
How to exchange Zcash for Bitcoin in 4 easy steps:
- Choose your cryptocurrencies
- Enter the recipient address
- Confirm your transaction
- Make a deposit
Step 1. Choose your cryptocurrencies
At the front page of ChangeNOW website, there’s a list of currencies that we support. Please choose a pair of coins. In this example, we will be buying Zcash with Bitcoin. Enter the number of coins that you would like to exchange. A special calculating tool will show you the estimated amount of Zcash that you will receive. Make adjustments if you want a specific sum! Press Enter to proceed.
Step 2. Enter the recipient address
On this step, you need to enter the address of recipient wallet, i.d. the wallet that will receive the exchanged Zcash. If you do not yet have a Zcash wallet press “Don’t have a crypto wallet yet?”. There you will be able to choose one of the trusted services to create a wallet. Press Next.
Step 3. Confirm your transaction
Step 4. Make a deposit
Send your deposit (the BTS coins) to the generated Bitcoin wallet address. As usual, you may send it manually or with a QR code.
Step 5. Get NOW tokens!
As a reward for using ChangeNOW you can claim NOW tokens! You can earn them running exchanges and use to get special access to a number of special features like accelerated support, even better exchange rates, etc! Enter your ERC-20 ETH wallet address and NOW tokens will be sent there!
That’s about it! Thank you for checking out our guide on swapping BTC to ZEC on ChangeNOW, a leading Zcash trading platform!
Best Zcash Trading Platforms
Bithumb is a cryptocurrency exchange that appeared in 2012 in South Korea. Zcash has a special history with this trading platform. Bithumb became famous for the fact that cryptocurrencies focused on anonymity, rapidly rose in price after being added to this exchange. In the case of ZEC, that’s exactly what happened. Therefore, referring to the purchase of this cryptocurrency, Bithumb needs to be mentioned.
The Korean trading platform is characterized by increased security. Today it is one of the most secure services against cyberattacks. Bithumb supports the most popular altcoins, their choice on the platform is quite wide. Replenishment and withdrawal of funds from the exchange is carried out without commissions. There are commissions for opening deals, but they are average – about 0.2%. An interesting feature of the trading platform is the presence of its own offline center. Other cryptocurrency exchanges don’t have anything like this.
However, it’s quite difficult to work with Bithumb for European investors because of the orientation on South Korea. The interface is monolingual, the available support for fiat currencies is only in won. Deposits and withdrawals are only possible with the help of local payment systems. Passing the verification system is also quite difficult because of the focus on the domestic market. The choice of cryptocurrencies on the service is quite limited, so you can only work with the most popular coins, such as BTC, ETH, BCH, ZEC.
The cryptocurrency exchange OKCoin was founded in 2013 in China. Initially, it was focused on BTC trading, but began to expand eventually, and now supports not only cryptocurrencies on the Bitcoin blockchain, but also the most popular altcoins. By the way, it was from OKCoin that the OKEx cryptocurrency exchange appeared – one of the most famous trading platforms in the world.
OKCoin supports margin trading, which means that users have the opportunity to work with leverage. The experts have taken serious measures to protect the trading platform. In particular, access to the account is carried out using 2FA, you can enable the SMS-confirmation of login, there is a possibility of selecting a complex password. The service offers a wide range of tools and charts. Commissions on OKCoin are also quite acceptable.
OKCoin’s problem is unpopularity. Therefore, the trading is not very active. The number of presented cryptocurrencies is small, users can buy Zcash, but not less well-known digital assets. Verification on the service is mandatory, so you can’t trade confidentially. Another rather serious problem is delays in sending SMS messages, which makes access to the account difficult sometimes.
Many users confuse BitMax with a more famous competitor – BitMex. However, in fact, these are completely different services, which are common only in the area of work. BitMax is a relatively new crypto-exchange, which was launched in the summer of 2018, during the recession of cryptocurrencies. However, there are some features due to which BitMax plans to take the leading position not only among Zcash buyers.
The trading platform has its own personalized token Token BitMax (stock Ticker BTMX). It was used for the ICO, during which the project team managed to raise 13.7 million USD. A quite nice and convenient interface of the trading platform is also worth mentioning. A special fee of 0.04% is used, but then BitMax fully returns it with its own token. There is a leverage that is 1:10. If the amount is more than $1000, the leverage is reduced to 1:5.
On the downside, in the first place, a reasonable question arises – why the turnover of the exchange was 8.5 times greater than on Binance at some specialized resources? This is an obvious cheat, which means that the BitMax administration distorts the data. Still, the trading is really very active there, and the exchange proved its reliability, so it’s worth to be trusted.
The Gemini cryptocurrency exchange was established in 2015 in New York. Its founders are Cameron and Tyler Winklevoss, who have already gone down in history as the world’s first cryptocurrency billionaires. The idea of the twins was to create an international crypto-exchange regulated by common rules. The service is completely legal and has received a license from the SEC.
Gemini is registered and operates in the United States, in full compliance with financial legislation. Therefore, working with it is not associated with tax risks. The crypto-exchange introduced its own cold storage system. HSM is used which generates the keys to the wallets. Multisignature is also used. You can connect access to your account using SMS-code. Gemini also contributes to the growth of the popularity of crypto assets, through auctions.
However, due to the legality of Gemini, it is impossible to work without verification. The marketplace operates in a limited number of countries. The list of trading pairs available on the service is also quite small. In addition, the creators of the service did not open an affiliate program that could become an additional incentive for users.