Coinbase adds Zcash! Coinbase, a major American cryptocurrency exchange and wallet provider has launched support for Zcash at Coinbase.com and the exchange’s Android and iOS apps. We knew that Coinbase was going to be adding 5 tokens this year – Zcash is now the 4th of those tokens to be added.
Per today’s announcement , Coinbase customers can now purchase, sell, send, receive, and store Zcash (ZEC). Most of Coinbase’s customers will be able to partake in handling ZEC except for those in the United Kingdom and the state of New York. Coinbase noted that more regions may get support in the future.
Zcash is a cryptocurrency based on a decentralized blockchain that specializes in making transactions more private. Zcash is the first privacy coin that Coinbase is supporting. Zcash also uses unique features of cryptography that protects the privacy of its users.
Remarking on the private nature of ZEC, Coinbase said:
“Initially, customers can send ZEC to Coinbase from both transparent and shielded addresses, but only sendoff Coinbase to transparent addresses. In the future, we’ll explore support for sending ZEC to shielded addresses in locations where it complies with local laws.”
Coinbase Pro had already introduced ZEC in late November. The exchange clarified that they would start trading ZEC/US Dollars through the order book after sufficient liquidity had been established.
Zcash has not responded like other tokens have when being announced on Coinbase. The so-called “Coinbase Effect” has not happened to Zcash – a pump following an announcement on one of the world’s most accessible and popular gateway cryptocurrency exchanges is typical. ZEC is instead showing a loss of 10%.
What do you think? Do you think we’ll see ZEC start to fly? Are you feeling bullish? We know that the market has been sad this past year. But we’re confident in cryptocurrency, and we’re confident in 2019. Big players are starting to move in. Better exchanges are coming online soon. Where will you be when the next Bull Run happens? Let us know on our Facebook page!