• 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.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC bulls may hit a brick wall on approach to $9,800

Bitcoin (BTC) extended the recovery to trade at $9,750 at the time of writing. The first digital asset bottomed at $9,300 on February 19 amid massive sell-off and managed to regain some ground since that time. 

More Bitcoin News

Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped

As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market.

More Ripple News

Cardano launched hardfork OBFT; ADA/USD extends the recovery

Cardano (ADA), now the 11th largest digital asset with the current market value of $1.5 billion, has gained 2.7% in recent 24 hours to trade at $0.0590 at the time of writing.

More Cardano News

BCH/USD sprints to $380 amid development tax disagreements

Bitcoin Cash explored the region at $350 as I discussed in the previous article. However, the bulls quickly entered the market ready to buy low and push the price upwards. BCH/USD is already in the green ...

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP