Share:
  • Zcash (ZEC) jumps to the 19th place in cryptocurrency rating.
  • Coinbase starts deploying Zcash support.

Zcash (ZEC), now the 19th largest coin with current market value $470M significantly increased in value following the news that the US-based Coinbase added it to the list of tradable instruments. At the time of writing, Zcash is changing hands at $88.04, over 10% higher from this time on Thursday.

"ZEC is launching on Coinbase Pro. Starting at 10 am PT, customers can transfer ZEC into their Coinbase Pro account. Traders can deposit ZEC, but cannot place or fill orders. Order books will remain in a transfer-only mode for at least 12 hours," Coinbase announced in its Twitter account to the joy of all Zcash supporters.

According to the press release, Coinbase Pro users can already deposit Zcash on their accounts, though ZEC/USDC trading functionality will be unlocked once the cryptocurrency gains sufficient liquidity.
The procedure of new coin listing consists of four stages: at first, users can deposit coins, then the exchange starts to accept limit orders, match orders and finally unlock the full functionality.

The exchange will accept deposits for 12 hours before moving to the next stage of listing. Initially, Zcash trading will be available for Coinbase Pro users in the USA, EU, Canada, Singapore, and Australia. Other jurisdictions will be added at later stages.

It is worth noting that Zcash is a privacy coin, which means that users can opt to hide their addresses and thus send and receive funds anonymously. Coinbase will accept deposits both from open and private (anonymous) addresses, however, withdrawals will be made only to open addresses. The company may consider allowing withdrawals to private addresses in certain jurisdictions.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Could Aptos price buckle under pressure and crash 55%?

Could Aptos price buckle under pressure and crash 55%?

Aptos (APT) price is pushing on the red descending trend line to trigger a breakout trade with a rally toward $20.36. The move is an outlier as the downtrend since the beginning of February has not finished one day in the green. 

More Cryptocurrencies News

Cardano price looks overpriced, 17% nosedive likely for ADA

Cardano price looks overpriced, 17% nosedive likely for ADA

Cardano (ADA) traders need to face reality as markets are pivoting back toward a sticky inflation story, which contradicts the Goldilocks story that was the driving force in January.

More Cardano News

Luna Classic gears up for recovery after Binance support and latest upgrade

Luna Classic gears up for recovery after Binance support and latest upgrade

Terra Classic (LUNC) formerly known as LUNA is upgrading from its v1.0.4 version to v1.0.5. The world’s largest exchange by volume, Binance has announced support for Luna Classic, fueling a bullish narrative among LUNC holders. 

More Luna Classic News

XRP Price Prediction: Will Powell propel Ripple or dampen the 2023 bull rally?

XRP Price Prediction: Will Powell propel Ripple or dampen the 2023 bull rally?

Ripple (XRP) price sees traders front-running the main event for today with Federal Reserve Chair Jerome Powell taking the stage later this evening at 17:00 GMT in Washington.

More Ripple News

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin (BTC) price is at an inflection point as it continues to rally amid multiple sell signals on lower time frames. The Nonfarm Payrolls (NFP) report, including the unemployment rate and average hourly earnings, is set to be announced on February 3 at 1330 GMT.

Read full analysis

BTC

ETH

XRP