Trading Zcash (ZEC): What to Consider

Like Bitcoin, Zcash (ZEC) is a cryptocurrency intended to be used as an alternative to fiat currencies for the purchase of goods and services. It is a ‘medium of value exchange’ cryptocurrency. This distinguishes it from cryptocurrencies such as Ethereum’s Ether and Ripple’s XRP. While these cryptocurrencies also see their exchange value vary according to supply and demand, and so can be traded or invested in, they are only ‘spent’ within the context of their particular Blockchain platforms. In the case of Ether, this is to pay for use of the Ethereum smart contracts’ Blockchain platform and as for XRP, it is used within Ripple’s global payments and digital assets Blockchain platform.