Announcement: Starting on August 26th, Zcash (ZEC) will no longer be supported within the UK. Coinbase customers in qualifying countries will continue to be able to buy, sell, send and receive Zcash (ZEC). For info about which products and regions will support the asset, please see our Supported Digital Currencies page.
What is Zcash (ZEC)?
Zcash (ZEC) is a privacy focused cryptocurrency that used cryptography to allow users to remain completely anonymous, enhanced privacy compared to other cryptocurrencies. ZEC is an open encrypted ledger and all transactions are encrypted. Additionally, ZEC is a separate asset with its own blockchain, and is not part of Ethereum like ERC20 tokens.
How does Zcash work?
ZCash uses an advanced cryptographic technique known as ‘Zero-Knowledge Proof’ to guarantee the validity of transactions without revealing additional information.
How do I buy ZEC on Coinbase?
Coinbase customers from eligible regions can buy ZEC on Coinbase.com and in the Coinbase iOS and Android apps. For which regions support trading USDC, please see our Supported Digital Currencies
Purchased ZEC tokens will be displayed as an asset within your Coinbase wallet on Coinbase.com or in the Coinbase mobile app.
Can I send ZEC to Coinbase?
Yes, but only to the ZEC wallet in your Coinbase account. Do not send ZEC to any Coinbase wallet addresses other than your ZEC wallet. Coinbase will not be able to recover tokens sent to the wrong address.
Initially, Coinbase will support deposits from both transparent and shielded addresses, but only support withdrawals to transparent addresses.The distinction between Zcash’s “transparent” and “shielded” transactions is analogous to the distinction between unencrypted HTTP and encrypted HTTPS.
When sending ZEC from Coinbase to another address or exchange, please make sure the recipient supports ZEC. If you send to an external (non-Coinbase) address or wallet that does not support ZEC, you will need to directly contact their support team for assistance.