The world is getting really used and familiar with Cryptocurrency which is basically is a digital currency that is made and managed from high technique encrypt ions used to regulate its units and allow transfer of funds, so what is Zcash (zec)?
This one of them just like bitcoin which was the first cryptocurrency to be created and introduced to the market. This currency has the same value as our normal printed currency and can be used to purchase items in places that accept it but mainly used by its users for online shopping.
It is an independent company that does not rely on any central bank like local banks do, although other digital currencies are out there Zcash is more safer and secure due to its anonymous users enabled by zk-SNARKs that allows users to transfer information without revelling their identity, the amount involved or the place of transaction.
Zec is the trade symbol just like a dollar, the difference is a zec is not tangible and is not necessarily of the equal value.
HOW TO OBTAIN ZCASH
A zec could be mined but this is a complicated method that involves complex algorithm and this is definitely not for everybody so the easy way is to buy from brokers like kraken and poloneix exchange whereby you create an account, verify identity, deposit and buy using euro or dollars then you could proceed to selling the zec for usd or euro then withdraw funds.
ADVANTAGES
The Zec has been praised a lot compared to other digital currencies and according to research it could be the best option out there for those interested in electronic money. The following points explain why this is so :-* Sole owner of your account since every user has a private key that means your funds are not accessible to anyone else and the company does not own them, so no one will freeze your cash.* Very secure since all the users real identity cannot be viewed by anyone and the addresses will not be traced back either.
*Lower or no fees, unlike banks that charge a certain amount of money for transaction, this currency platform will charge less depending on the transaction involved.
*Available to everyone who can access Internet through a mobile phone or a laptop.*It is free from theft since in case of a purchase the user only sends the exact amount required to the recipients without providing any more information.
*Very flexible and easy since no need to carry around heavy bundles of money
DISADVANTAGES
As much as it is a very good move for almost everyone regardless of their financial capability, it has its own cons including:-* Easy loss of funds if the mobile phone or laptop used is stolen you would not be able to access your funds anymore.*It requires a lot of education to learn about it and how it works
* Many businesses have not embraced it’s use.
With technology changing and people learning different and better options of products and services, only time will tell how many embrace this digital currency fully but for those who are not scared of risks this is the perfect platform for you after all only those who take and believe in their risks get results firsthand. Some of us are ready for digital currency but most of us are not there yet, which side are you on?
