Altcoin News

Zcash and its Privacy: Is it a good Time to Buy in?

Zcash [ZEC] price has regained control and is climbing upwards slowly but steady. ZEC/USD cleared it descending trend and it could be a good time to measure ‘your buying in’.

Zcash’s technology seemingly gives users the ability to enjoy an even greater level of privacy. By allowing users to remain anonymous, Zcash can provide them with greater fungibility.

This is because many digital currency transactions rely on the use of private keys – strings of letters and numbers that identify a user. An address can become attached to several transactions over time, making it easy for friends, family, marketers or even government authorities to learn more about a person’s purchasing trends.

And if a user’s private key is attached to certain transactions, some parties may refuse to accept his or her money. This is where Zcash comes in.

The zk-SNARKs zero-knowledge proof structure allows two users to exchange data with no trace nor revelation of identity. Zcash’s blockchain shows only that a transaction took place, not who was involved or what the amount was.

zcash analysis

 

Source: coinmarketcap

Zcash price today has ended its almost monthly long declining trend under which pressure the value against US Dollar did reach the lows of $201.00. However, bulls and near term traders found opportunity and turned the table hoisting the price up and under just two-three days it broke above the descending pattern at $226.50.

The particular mark is very important to be closed above as it did act like a very important support and barrier in the past. For now the price could continue higher most likely so await the highest lows to buy in or trade at the highest highs that are formed.

zcash trading

It will be of great struggle to clear on this rally the $240 too as its a major psychological level on these terms where the ZEC value stands right now – but time will tell.

Bet your trade on your own best possible research and analysis made while being cautious that there could be losses.

Alex Tomzack
About author

Alex Tomzack is a crypto-enthusiast and has been fascinated since first hearing about it. Loves technology, writing, culture while being a regular trader and holder of digital assets. Email: alex@ethereumworldnews.com
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