Zcash (ZEC) is an excellent privacy cryptocurrency that has steadily increased in value since its all-time low in March 2020. There is reason to believe the price will keep rising, considering that people are using cryptocurrency to protect their purchasing power as the US Federal Reserve continues to inject stimulus into the economy. Several exchanges, such as Bittrex, do not list Zcash. This presents a hurdle to diversifying one’s cryptocurrency portfolio. There are ways to get around this problem, however. Platforms like Godex allow people a way to buy Zcash and other currencies without creating an account.
Bittrex and ZEC
Bittrex has emerged as one of the leading US-based cryptocurrency exchanges. It has become so popular because it offers dollar trading and many cryptocurrencies. Unfortunately, it does not have as many cryptocurrencies as it could or should.
Zcash is one of the cryptocurrencies not available on their platform. There are several reasons why Bittrex customers are interested in this cryptocurrency. The main reason why its customers are considering Zcash is that it is a privacy-focused cryptocurrency. Many cryptocurrencies do not keep transaction histories private. Zcash transactions are entirely confidential.
Zcash uses shielded addresses and zero-knowledge proofs to confirm transactions without compromising the user’s privacy. At the same time, the settings allow users to disclose such information to interested parties to comply with an audit if necessary.
Bittrex users cannot buy Zcash because it is not listed on their exchange, as previously stated. This platform’s users most likely do not want to go through the trouble of setting up an account on another exchange. Creating accounts on multiple exchanges is troublesome. Few people have the time to manage all of those accounts, passwords, and other information. Additionally, American users may not want to move to another exchange. They know Bittrex is compliant with the United States law.
How Bittrex Users Can Use Godex to Buy ZEC
Many Bittrex users do not know how to convert ZEC to BTC, but there are alternative solutions. Godex does not require users to register if they do not wish to do so. To make a transaction, Godex users have to select the currencies they want to exchange. Next, they have to provide their wallet address and conduct the transaction. To use Godex, a Bittrex user has to buy Bitcoin or another currency, move it to his or her wallet, and then trade it on Godex for Zcash. Most transactions take between five and thirty minutes to complete.
There are several reasons to choose Godex for transactions that Bittrex and other platforms may not support. First, Godex lists most significant cryptocurrencies and several lesser-known coins. This gives traders many options for trading. Second, exchange rates are locked once the customer initiates the exchange. The only exception is if the exchange takes longer than 30 minutes to complete. Finally, all transactions on Godex are anonymous. The only exception is when the user contacts customer support to resolve a technical issue. In that case, the customer service representative will request an email address or telephone number to facilitate faster and more efficient communication to resolve the customer’s problem more quickly.
Is Buying Zcash Worth It Right Now?
There are two reasons to buy Zcash: to protect one’s ability to make purchases in private and protect one’s savings from inflation.
As of late, banks and credit card companies have been targeting individuals and organizations some find distasteful. Former President Donald Trump had accounts closed by several banks. Credit card companies have refused to allow donations to WikiLeaks. They also halted transactions for PornHub. Because Zcash is decentralized, no one person or organization can prevent someone from using it to conduct transactions. Additionally, no one can stop an individual from storing Zcash or any other cryptocurrency on a hard wallet.
As for hyperinflation, there is reason to believe that the United States is heading in that direction. If people become addicted to stimulus, it will never end. The supply of money in the economy will cause demand to outstrip supply. Such an occurrence will lead to the dollar rapidly losing its value. Hyperinflation is rare, and most articles warning about it are click-bait traps trying to get people to buy gold or some other commodity. But it does happen, and the United States is not immune to the rules of economics and nature. If the US continues to inject money into the economy, the likelihood of inflation occurring will increase. It would be prudent to invest some money in low-priced, high-potential cryptocurrencies like Zcash, gold, and other investments that hold their value or could increase in value.
Final Thoughts About Using Godex to Buy Zcash
As the reader can see, there are a lot of good reasons to buy Zcash. Godex offers a way to buy Zcash at reasonable rates and without having to register an account.