What is CEX.IO?
CEX.IO is an online cryptocurrency exchange located in the United Kingdom. This online exchange gives you the option to easily trade your cryptocurrency for money, in the safest manner possible.
Also, CEX.IO allows you to trade cryptocurrency to four currencies: EUR, GBP, USD, and RUB.
No matter if you’re already a CEX.IO user, or maybe you’re even new to this cryptocurrency world, here’s the list of advantages this online exchange offers to its users:
- Strong Security - it is a vital part of all cryptocurrency users and should be so. The DDoS attacks are no threat to the exchange because all of the data is securely encrypted.
- Payment Options - almost all the payment methods such as Visa, MasterCard, bank transfer, and of course, payments with cryptocurrency, are available on the platform.
- World Coverage - not only it covers most payment methods, but it covers most of the world too (already counting with the 24 states of the USA).
- Strict Compliance - CEX.IO is registered in the UK, has MSB status in FinCEN, strong relations with banks, and basically all the essential licenses to make you not worry about anything.
The online exchange has much more advantages. You can look through all of them at CEX.IO front page.
And, because the internet and the cryptocurrency world is always evolving, CEX.IO has decided to introduce a new coin to its platform: Zcash.
Introduction to Zcash
Zcash is a relatively new type of cryptocurrency that was created out of the Zerocoin Project. Zcash has one simple goal: to improve even more the anonymity of all of the Bitcoin users; and although its payments are all made on a public blockchain, the transaction itself remains anonymous, including the source, the receiver, and the sum. As you can see, it’s a very user-friendly beneficial type of cryptocurrency.
It was officially introduced on 28th October 2016 (hence the term “relatively new”), it is available worldwide, and on April 4th this cryptocurrency officially entered in the top cryptocurrencies by market cap.
The origins of Zcash
The core idea of Zerocoin project was to “add more privacy” to Bitcoin network. Bitcoin blockchain is transparent, wherein the transaction data is encrypted. Still, the participants of the network can be traced relatively easy.
That’s where Zerocoin protocol came in handy. It was then expanded to cryptocurrency called Zcoin and worked as a sort of ‘extension’ to Bitcoin network that would mix your coins, and thus make them untraceable.
However, the continued cooperation of the initial project members with Matthew Daniel Green, a John Hopkins University professor, and two of his graduates gave much better and faster results.
The upgraded protocol was then called Zerocash. This newly improved protocol was no longer an extension of the Bitcoin network, but an independent technology that was based on the zero-knowledge method and allowed for direct private transactions.
By the end of 2015, the Zerocash protocol was extended into a fully-fledged cryptocurrency called Zcash.
That’s basically it. You now know a bit more about the origins of Zcash.
Zcash – Why should I use it, and where?
It’s the question we all ask. We want what’s most practical to us, it’s part of human nature. Why should I use Zcash? Zcash offers full anonymity to the transactions - no one will ever know the amount you send, who you are, and who you send to.
You’re in full control, and your transactions fully hidden from curious eyes, in fact, it was created with only that purpose in mind.
We know its advantages, but there’s still one important question. Where should we begin to use Zcash?
As it was stated in the beginning of this article, the users may consider an online exchange called CEX.IO, because it’s a fully reliable exchange that offers many advantages, and besides, it takes care of its users. The exchange already gave many examples of this, including the SegWit protocol activation and coin split.
But why now?
Now is the time to use Zcash, since it has already been developed as a cryptocurrency, and its full anonymity feature is available to all users who want to enjoy it. We have now the guarantee that Zcash is not just a startup project, it is effective at using its main advantage, the anonymity, and came here to stay.
Zcash solves probably one of the major things users are always worried about, their anonymity, and that is truly satisfying to know.
Zcash came to stay, and that definitely gives peace to the more private internet users. We all know the internet can be dangerous and want to remain safe throughout our online experience.
Not surprisingly, CEX.IO added Zcash to its repertoire, showing that this online exchange can keep up with the new trends that frequently appear on the internet.
What about you? Will you begin to use Zcash? This article gave you some lights on how it was created, how it is used, and how it can benefit you. It’s up to you now. Please stay tuned to the bitcoin world through CEX.IO.