Zcash (ZEC) Lands on eToro Trading Roster
The move triggered a slight increase of ZEC’s price on Friday morning UTC.
Zcash becomes the 14th digital currency available on eToro, which also supports Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), Cardano (ADA), EOS (EOS), Dash (DASH), Ethereum Classic (ETC), NEO (NEO), IOTA (MIOTA), and Binance Coin (BNB).
At the time of writing, ZEC had the highest daily spread on eToro – 3.45% versus 0.75% for BTC, 1.90% for BCH, 2.45% for XRP, and 2.90% for DASH. The platform has a minimum first-time deposit which ranges between $200 and $10,000 depending on the customer jurisdiction. The withdrawal minimum is $50 for all clients.
“Launched in 2016, Zcash was designed to offer enhanced privacy compared to other blockchains. Like Bitcoin, Zcash has a hard-capped total supply of 21 million tokens, gradually being released in circulation. Please note that there is a daily investment limit for Zcash and that it might be periodically unavailable for new investment throughout the day. The closing of open trades will be available at any time,” eToro said in the listing announcement.
The news had only a marginal impact on the Zcash market performance. Nearly 24 hours after the listing, the asset was up 0.45% on a daily basis, changing hands at $53.08 at 09:27 UTC on Friday. ZEC clocked $144.6 million in trading volume in the previous day, according to Coinmarketcap data.
Zcash creator Zooko Wilcox-O'Hearn claims that ZEC can guarantee the privacy of transactions. The coin has two types of addresses: unshielded ones, which rely on public blockchain solutions similar to the Bitcoin network, and shielded ones, which can purportedly hide the amount and the receiver.