Major crypto exchange and digital wallet supplier ‘Coinbase’ has launched its support for Zcash [ZEC] at Coinbase.com along with the exchange’s Android and iOS applications, in line with a recent web blog post ‘published‘.
As per the ‘announcement‘, Coinbase users can currently buy, sell, send, receive, and store Zcash [ZEC]. The coin would be obtainable for purchasers in most jurisdictions, however initially for now customers from UK along with the users of New York won’t be liable to use the services. Coinbase additionally notes that further jurisdictions would also be introduced later.
Since Zcash [ZEC] is a digital currency based on a decentralised blockchain and designed with the goal of processing transactions with additional privacy than they’re on the Bitcoin [BTC] blockchain, it deploys specific options of cryptography to guard the privacy of its users.
Coinbase thus further outlines within the post, stating:
“Initially, customers would be able to send ZEC to Coinbase from both transparent and secure addresses, however solely send off Coinbase to transparent addresses. Within the future, we’ll explore support for transferring ZCash [ZEC] to secure addresses in locations wherever it complies with native laws.”
The move follows the introduction of Zcash [ZEC] on the Coinbase Pro platform, earlier in Nov this year. The exchange then noted that commercialism on the ZEC/U.S.D. order book would begin solely once enough liquidity is established.
Zcash [ZEC] has not still followed to this Coinbase’s announcement, showing a slump by around 10% on the day, in line with CoinChangelly. The coin is commercialism at around $66.41 USD at the reporting time, down from yesterday’s peak value of $77.74 USD. The altcoin’s market cap is around $357.97 Mln, whereas its daily commercialism volume is around $208.4 Mln.
As reported last week, Coinbase has launched OTC [over-the-counter] commercialism for institutional customers, supposedly following an increased demand for over-the-counter crypto commercialism from the ‘institutional‘ players.