Popular Cryptocurrency Exchange Coinbase is launching Zcash (ZEC) trades on its Coinbase Pro professional trading platform. The announcement made through the Coinbase blog page states that incoming currency transfers will start at 22:00. PST Thursday 29 November 2018, although the first deposits have already started.
The blog says: "Once sufficient liquidity has been established, it will begin trading on the ZEC / USDC order portfolio.ZEC trading will initially be accessible to Coinbase Pro users in the United States (excluding New York), in the United Kingdom, in the United States. European Union, Canada, Singapore and Australia Additional jurisdictions can be added later. "
At the time of printing, ZEC is not yet available on Coinbase.com or on the company's mobile apps. The blog says that a separate announcement will be published once ZEC is active on these platforms.
Zcash is a cryptocurrency that offers users additional privacy. The resource comes in two forms: protected and transparent, with the previous information on the cryptographic transaction to ensure that it is never seen by third parties. Coinbase Pro states that it will support the depots of both ZEC screened and transparent forms, although only withdrawals to transparent addresses will be allowed.
"In the future, we will explore support for withdrawals to secure addresses in locations where it complies with local laws," says the Coinbase blog.
The launch should take place in four phases. The first phase, "transfer only", was broadcast at 10am PST on Thursday, November 29th, where customers could begin to deposit ZEC in their Coinbase Pro accounts. Limit orders can be registered via the second post-training stage. -only ", which will occur at 22:00. on the same date.
This stage will last about a minute and will be followed by a "limit-only" phase, in which the limit orders will start to be matched. Customers will have to wait another 10 minutes before the fourth phase, full negotiation takes place. From there, customers will be able to send market orders and take advantage of full trading services through Coinbase Pro, including limits, market orders and stops for ZEC.
Coinbase presented a new listing process last September with the aim of listing all the resources that meet the standards of the company and comply with local laws as soon as possible. Because the cryptocurrency market contains thousands of unique resources, each of the listed currencies is subjected to a thorough inspection and usually only meets the listing requests in a "jurisdiction by jurisdiction", which means that some currencies may be available only for customers in specific regions for limited periods of time.
Since implementing its new process, Coinbase has listed several new resources on Coinbase Pro, including Basic Attention Token (BAT) at the beginning of November and ZRX, the protocol token 0x in October. Coinbase had promised to potentially add these and similar coins from March 2018, saying it was trying to place several Ethereum-based tokens on its entire trading platform in the coming months.