Starting today, Coinbase supports Zcash (ZEC) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, send, receive, or store ZEC.
ZEC will be available for customers in most jurisdictions, but will not initially be available for residents of the United Kingdom or the state of New York. Additional jurisdictions may be added at a later date.
Zcash is a cryptocurrency that uses recent advances in cryptography to allow users to protect the privacy of transactions at their discretion. The distinction between Zcash’s “transparent” and “shielded” transactions is analogous to the distinction between unencrypted HTTP and encrypted HTTPS. In both cases, the unencrypted/transparent version of the protocol allows third parties to see metadata associated with the communication or transaction, while the encrypted/shielded version protects this information. Initially, customers can send ZEC to Coinbase from both transparent and shielded addresses, but only send off 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. For more information on privacy considerations specific to ZEC, visit the official Zcash support page.
One of the most common requests we hear from customers is to be able to buy and sell more assets on Coinbase. Earlier this year we announced a new process for listing assets, designed in part to accelerate asset addition. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see ZEC here), as well as a new section of the Coinbase website to answer common questions about crypto.
You can sign up for a Coinbase account here to buy and sell ZEC today.