Zcash (CCC:ZEC-USD) is catching the eyes of crypto investors with a focus on privacy as its price increases on Monday.
Investors wondering what Zcash is all about can check out the following breakdown below.
- Zcash is a cryptocurrency that doesn’t require users to share their transaction information online.
- That’s important as it adds an extra layer of privacy to a space that largely posts transaction details publicly.
- It’s worth pointing out that Zcash was built on the original Bitcoin (CCC:BTC-USD) codebase.
- That means it shares many similarities to the world’s largest cryptocurrency.
- Among these are its fixed total supply, which sits at 21 million coins.
- While Zcash does offer better privacy, that doesn’t mean it’s completely anonymous.
- Traders can choose to disclose some or all details of their transactions.
- Another thing worth pointing out is that the information can still be accessed in the case of an audit, or other regulatory requirements.
- Investors that want to purchase ZEC have plenty of options available to them.
- The crypto trades on most of the major exchanges, including Binance and Coinbase.
Zcash includes the following statement on its website about why privacy for cryptocurrency is important.
“Privacy is necessary for ensuring freedom on the internet. When your transactions are being watched — or when your transaction history is available to be known — a person isn’t free to make their own decisions. With other digital currencies, bad actors are able to match people to their balances and details about parties involved, amounts and trends.”
ZEC was up 36.5% over a 24-hour period as of Monday afternoon.
If investors don’t mind their transaction history being public, there are plenty of other cryptos to choose from.