Home / Cryptocurrency / Coinbase adds Crypto Zcash focused on privacy to the Pro exchange exchange

Coinbase adds Crypto Zcash focused on privacy to the Pro exchange exchange

Crypto exchange Coinbase Pro is adding the secret currency zcash to its lists.

The platform announced on Thursday that customers can transfer zcash to their professional trading platform, even if, as with previous additions, users can not purchase the token until the exchange has established sufficient liquidity. Deposits will be accepted for at least 12 hours after the announcement at 18:00 UTC.

When trading is enabled, only Coinbase Pro users in most of the United States, United Kingdom, European Union, Canada, Singapore and Australia will be able to access the currency. Residents of New York and other jurisdictions may receive access at a later time.

The exchange was not announced when coinbase.com or mobile app users would have been able to start negotiating cryptocurrency.

Due to the nature of the currency for privacy, full support has not yet been added. As the post explains, zcash offers both transparent and screened transaction types, which show different amounts of information about a transaction. In particular, screened addresses are rendered anonymous, while transparent transactions are traceable, such as bitcoins.

The post goes on to say:

"Initially, we will support deposits from transparent and screened addresses, but we will only support withdrawals to transparent addresses." In the future, we will explore support for withdrawals to secure addresses in locations where it complies with local laws. "

Market response

Based on the official word of the Coinbase Pro listing, the price of zcash started a significant increase at 18:00 UTC. Only five minutes later, the cryptocurrency had risen by 15% to reach a maximum of 9 days of $ 99.13, according to data from the Binance stock exchange.

At the time of writing this article, ZEC has cooled and now trades at $ 93. The currency has amassed $ 155 million in 24-hour trading volume across the stock exchanges, according to CoinMarketCap data.

Rachel Rose O & Leary and Sam Ouimet contributed to the report.

Zcash image through Shutterstock

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