Zcash (ZECUSD) is a decentralized digital currency developed in 2016 by the Zerocoin Electric Coin Company. It features an optional protocol extension for shielded transactions which further obfuscates payment details like origin, destination, and amount.
Zcash is a privacy-focused cryptocurrency, and its native token, the ZECUSD, can be used to pay for goods and services or traded on exchanges. Investors should consider that due to the anonymity of transactions, it may be difficult to trace where funds originate from when using Zcash. As with any digital currency investment, investors should do their own research before investing in Zcash.
The Zcash (ZECUSD) trading pair has seen a notable evolution in the last five years. It hit its lowest point of 18.937 on 8th March 2020, but then experienced an incredible surge reaching its highest price of 342.538 on 2nd May 2021. As of May 2023, the ZECUSD trading pair is displaying relative stability, trading around 35.
These movements represent a great opportunity for traders to capitalize on the volatility of the crypto markets. It is important to keep an eye on Zcash's price history and study its patterns in order to develop successful trading strategies. With good research and risk management, Zcash could be a profitable asset for investors.
Trading ZECUSD (Zcash vs US Dollar) is a popular option for many traders. The potential benefits of trading ZECUSD include its liquidity, low transaction fees and the ability to use it as a hedging instrument. On the other hand, there are risks associated with trading crypto currencies such as volatility and security issues.
If ZECUSD is not for you, there are other crypto tokens that traders can consider. Ethereum (ETHUSD) and Bitcoin (BTCUSD) are two of the most popular options. They offer similar benefits as ZECUSD but may also have different risks associated with them. Additionally, some of the more obscure tokens such as Ripple (XRPUSD) and Litecoin (LTCUSD) may be worth considering.
No matter which token you decide to trade, it is important to understand the risks associated with it before investing.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and without capital restrictions that come with buying the underlying crypto asset.