Buy Zcash – How To Buy Zcash In The UK In Under 5 Minutes!
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Launched in 2016 – Zcash (ZEC) is a decentralized blockchain protocol and cryptocurrency. The platform specializes in privacy – subsequently allowing users to send and receive funds in a completely anonymous manner.
In this guide, we discuss the ins and outs of how to buy Zcash in the UK and which cryptocurrency brokers you should consider when completing your investment.
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#1 Broker to Buy Zcash – eToro
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How To Buy Zcash UK – Choose a Broker
Zcash is a cryptocurrency with a multi-billion dollar market capitalization – so plenty of online brokers allow you to invest in the digital token. You do, however, need to choose wisely when selecting a broker – as there are many sharks in the crypto space.
To point you in the right direction, below you will find an overview of which brokers to consider when learning how to buy Zcash in the UK.
- eToro – Overall Best Broker to Buy ZEC UK
- Coinbase – Best Broker to Buy ZEC for Beginners
- OKEx – Best Low-Cost Broker to Buy ZEC UK via a Crypto Deposit
- Binance – Best Broker to Buy ZEC for Asset Diversity
Want to know more about the Zcash brokers above before signing up? If so, we review each provider further down in this guide.
How to Buy Zcash in the UK – A Quick Guide For 2021
The best way to buy Zcash is through an FCA-regulated broker like eToro. If you want to buy Zcash in the UK right now without reading our guide in full – follow the 4-step process outlined below!
- Step 1: Open an Account with eToro – Open an account with eToro – a user-friendly broker that allows you to invest in Zcash on a spread-only basis. You’ll need to provide your personal information and contact details.
- Step 2: Upload Your ID – Upload a copy of your passport or driver’s license, as well as a utility bill or bank account statement for your proof of address. You can do this later if you are not depositing more than $2,250 (about $1,600).
- Step 3: Deposit Funds – The minimum deposit at eToro is just $200 (about $145) – which you can fund with a debit/credit card, e-wallet, or bank transfer.
- Step 4: Buy Zcash – Enter ‘Zcash’ into the search bar and click the result that loads. Next, enter your stake (minimum $25 – about £18) and click on the ‘Open Trade’ button.
And that’s all it takes – you have successfully invested in Zcash from the comfort of your home! To either view how your investment is doing or to cash out your ZEC tokens – head over to your eToro portfolio.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
Where to Buy Zcash in the UK
Before getting your debit/credit card out and buying Zcash online – it’s important that you take some time in choosing the right broker for you. There are many metrics that need to be considered when searching for a good cryptocurrency platform – such as regulation, fees, customer support, user-friendliness, and the minimum deposit amount.
Taking all of these important factors into account, below we review the very best brokers that allow you to buy Zcash in the UK .
1. eToro – Overall Best Broker to Buy Zcash UK
This includes the likes of Bitcoin, EOS, Cardano, Ethereum Classic, Ripple, and of course – Zcash. As the broker supports fractional ownership, this allows you to buy a small portion of one crypto token. For example, if Zcash is priced at $100 and you decide to meet the minimum of $25 – you will own 1/4 of a single ZEC token. This is great for diversification purposes – as you can buy lots of different cryptocurrencies with a small amount of money. In terms of fees, eToro is one of the cheapest online brokers in the UK.
This is because you only need to pay the spread when you buy Zcash. At eToro, cryptocurrencies come with a spread that starts from just 0.75% – which is very competitive. Once you have invested in Zcash, eToro will safely store your tokens for you. This means that you don’t need to go through the cumbersome and somewhat intimidating process of withdrawing your tokens to a private cryptocurrency wallet. Instead, you can keep your Zcash tokens on the eToro platform until you are ready to cash out.
Outside of the cryptocurrency department, you will also find other asset classes at eToro. This includes more than 2,500 shares from 17 stock exchanges. This is inclusive of the UK and markets in the US, Europe, Asia, and more. You can also trade forex, commodities, and indices. If you are keen to invest in a passive manner, eToro has a couple of products you might be interested in. First, you have the Copy Trading feature – which allows you to ‘copy’ successful eToro investors like-for-like.
You also have CryptoPortfolios – which are managed by the in-house team at eToro. This consists of a basket of different digital assets that are weighted based on market capitalization. The portfolio is rebalanced by eToro on your behalf as per wider market conditions. If you want to get started with eToro to invest in Zcash, you can open an account in minutes and instantly deposit funds with a debit/credit card or e-wallet. You can complete the process online or via the eToro trading app.
Cons
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.
2. Coinbase – Best Broker to Buy Zcash for Beginners
First, you can transfer funds from your UK bank account via the Faster Payments network. This should be credited to your Coinbase account on a same-day or next-day basis. Then, you can proceed to buy Zcash in the UK by paying a commission of 1.49%. If you’re in a hurry and wish to invest in Zcash without delay – you might be better suited for the Coinbase Instant Buy feature. As the name suggests, this allows you to buy Zcash with your debit card instantly.
You will, however, first need to open an account and verify your identity by uploading a copy of your passport or driver’s license. The fees applied on an instant debit card purchase amount to 3.99% – which is expensive. But, you do have the added benefit of convenience. Plus,. Coinbase has a great reputation in the digital asset space and it is home to plenty of top-grade security controls. This includes mandatory two-factor authentication when you attempt to access your Coinbase account and further checks when you log in from a new IP address or device.
In addition to Zcash, Coinbase supports dozens of other cryptocurrencies of all shapes, sizes, and valuations. This includes large-cap projects such as Bitcoin and Ethereum – but also ERC-20 tokens and Defi coins. You can keep your purchased cryptocurrency in your online account or withdrew them to the Coinbase mobile wallet app – which is available for iOS and Android users. There is also a Coinbase debit card that allows you to spend your crypto assets in the real world and even an interest-bearing savings account.
Pros
Cons
at eToro, UK’s #1 Broker
Cryptoassets are highly volatile unregulated investment products. No EU investor protection
3. OKEx – Best Low-Cost Broker to Buy Zcash UK via a Crypto Deposit
This means that if you hold one of the aforementioned cryptocurrencies – you can instantly swap the tokens into ZEC. This will cost you a commission of just 0.10% at OKEx, which offers great value. Additionally, if you are planning to swap a currently owned cryptocurrency into Zcash, you won’t need to go through an extensive account opening or KYC process. Instead, you can just supply your name and subsequently buy Zcash in the UK without revealing your identity.
OKEx also offers fiat currency facilities – meaning that you can fund your account with a debit/credit card or bank account transfer. This doesn’t allow you to buy Zcash instantly – as direct purchases are not yet supported. Instead, you would need to have a digital coin like Tether or Ethereum and then swap this into ZEC. In addition to cryptocurrency exchange services, OKEx offers lots of other notable tools and features. This includes a lending facility that matches borrowers and investors.
This means that if you have idle cryptocurrencies on hand – you can earn interest. This is offered via a flexible savings account, so you can withdraw your tokens at any given time. OKEx is also a good option if you want to improve your cryptocurrency and blockchain technology knowledge. You’ll find plenty of guides and mini-courses that are explained in a really user-friendly and jargon-free way. The OKEX mobile app is also popular with UK traders – as you can buy and sell cryptocurrency whilst on the move.
Pros
Cons at eToro, UK’s #1 Broker Cryptoassets are highly volatile unregulated investment products. No EU investor protection When it comes to the process of how to buy Zcash at Binance, you can do this instantly by using your debit or credit card. This will cost you 1.8% in fees, meaning that you’ll pay £1.80 for every £100 invested. The minimum investment amount when buying ZEC tokens with your card is just £15. You can also fund your Binance account with any of the cryptocurrencies it supports. For example, if you currently own Ethereum, you can transfer the funds into Binance and swap the tokens into Zcash. This will cost you just 0.10% – which is a much cheaper option compared to using a debit/credit card. In terms of storage, Binance allows you to safely keep your ZEC tokens in your account. This allows you to easily sell your tokens back to cash or withdraw them to a third-party wallet. If opting for the latter, you might consider using the Trust Wallet for this purpose – which is backed by Binance. The Trust Wallet allows you to buy, sell, trade, and store digital assets via its mobile app – which is compatible with Android and iOS. Binance is home to plenty of other features that might be of interest. For example, the platform offers one of the best cryptocurrency savings accounts in the market. Although Zcash attracts a yield of just 0.56% per year, other digital tokens pay much more. For instance, by locking up your Binance Coin tokens for 60 days, you can earn an annual interest rate of 9.21%. Much like Coinbase, Binance also offers its very own cryptocurrency debit card that is backed by Visa. Pros Cons at eToro, UK’s #1 Broker Cryptoassets are highly volatile unregulated investment products. No EU investor protection. In the sections above we reviewed the best brokerage sites that allow you to buy Zcash in the UK. Now, we can walk you through the ZEC investment process step-by-step. For our beginner-friendly tutorial – we will show you how to complete your Zcash purchase with eToro – which is regulated by the FCA and offers super-low fees. The process of opening an account at eToro is the same as any other online broker that is regulated by the FCA. This means that you will need to provide some personal information. This is inclusive of your first and last name, date of birth, home address, and national insurance number. Next, you need to supply your contact information – which includes your mobile number and email address. You will need to confirm your mobile number by entering the code that eToro sends you via SMS. Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider. Now that you have an account with eToro – the platform is legally required to verify your identity and residency. This can be completed instantly by uploading a copy of your government-issued ID. As a UK resident, you can choose from a valid passport or driver’s license. To provide your home address, you will need to upload a copy of a bank account statement or utility bill. The document must show your name and address, and have been issued within the prior three months. Note: Looking to buy Zcash in the UK right now without upload the aforementioned documents? If so, eToro allows you to proceed without completing the KYC (Know Your Customer) – as long as you deposit less than $2,250. In order to invest in Zcash on the eToro platform – you will first need to make a deposit. The best option in this respect is to use an e-wallet or debit/credit card. This is because your deposit will be credited to your eToro account instantly. Otherwise, if you opt for a UK bank transfer, this will delay the process. Although you can invest in Zcash from just $25 per trade – the minimum first-time deposit at eToro is $200. This comes with a very competitive transaction fee of 0.5% – which is significantly lower than the industry average of 5%. Now that you have trading capital in your eToro account – you are just a couple of steps away from buying Zcash. At the top of the screen, you should see a search bar. The final step of the how to buy Zcash process is to set up a trading order. Completely new to investments and don’t know what a trading order is? If so, you are simply placing a buy order to let eToro know that you want to purchase Zcash. In addition to this, your trading order needs to tell eToro how much you intend to invest in Zcash. You can do this by entering your stake in the ‘Amount’ box. Finally, to complete your Zcash investment at eToro – click on the ‘Open Trade’ button. That’s it – the purchase is complete and your newly purchased Zcash tokens can be found in your eToro portfolio! When choosing an online provider to buy Zcash in the UK – you have to consider how safe your money is. Not only that, but you need to think about what payment types the platform supports and whether you will be able to invest with pounds and pence – as opposed to needing to deposit funds with a crypto asset. With this in mind, below we discuss the best place to buy Zcash in the UK by comparison cryptocurrency brokers and exchanges. When buying ZEC tokens from a trusted online broker – you know that you are using a credible provider. This is because brokerage firms like eToro are heavily regulated. All in all, using a broker to buy Zcash is not only the safest option – but the most convenient. If you decide to buy Zcash in the UK from a cryptocurrency exchange – there are several considerations to make before you proceed. First and foremost, cryptocurrency exchanges typically only allow you to fund your account with a crypto asset. This means no access to deposits in the form of debit/credit cards or bank account transfers. Additionally, exchanges that do not accept fiat money are not required to hold a license. In turn, this means that you might be buying Zcash through an unregulated entity. There are also issues with liquidity when using a cryptocurrency exchange to buy Zcash in the UK. This is because the exchange is simply a market maker between buyers and sellers. As such, there needs to be another participant on the exchange that is willing to buy or sell Zcash at your preferred price. When it comes to choosing your preferred payment method, there are a number of ways to buy Zcash in the UK. Your options are largely dependent on which brokerage site you use to complete the process. Nevertheless, below we discuss the best ways to buy Zcash in the UK. If you choose a regulated broker like eToro – you can buy Zcash with a debit card. The best about this is that the process shouldn’t take you more than five minutes. All you need to do is open an account, enter your debit card details, and decide how to much to deposit. This will then be credited to your brokerage account instantly. You should tread carefully if you are thinking about how to buy Zcash with a credit card. After all, cryptocurrencies are highly speculative – meaning that you will be investing in a volatile asset with borrowed funds. Nevertheless, if this is something you want to do, you can buy Zcash with a credit card at eToro. The process works much the same as the debit card procedure discussed above. Note: Some UK credit card companies have since come forward to say that they will no longer support cryptocurrency purchases. As such, check with your provider whether you can use your credit card before proceeding. Another option you have when using eToro to invest is to buy Zcash with Paypal. This is a secure and low-cost way of funding your ZEC purchase, as you won’t be required to enter your debit/credit card details directly into the eToro platform. Instead, an encrypted pop-up box will appear whereby you will be asked to log in to your Paypal account and select your preferred payment source (balance, debit card, etc.). Once you verify the Paypal deposit, it will be added to your eToro account instantly. We briefly mentioned earlier that some investors in the UK prefer to use a cryptocurrency like Bitcoin to buy Zcash. What you need to do is open an account with a cryptocurrency exchange and then transfer Bitcoin over. Then, head over to the ZEC/BTC market and swap your Bitcoin balance into Zcash tokens. On platforms like OKEx, you can do this in a matter of minutes and without needing to provide any ID documents. Other cryptocurrencies that you can easily swap into Zcash include Tether (USDT) and Ethereum (ETH). If this is your first time buying a digital asset – then you should know that cryptocurrencies are high-risk. This is because the likes of Zcash can increase or decrease in value by a significant amount in a very short period of time. These enhanced volatility levels might not be suitable if you prefer to invest in stable and established assets – such as blue-chip stocks. Taking this into account, it’s important to do some independent research before buying Zcash in the UK. To help clear the mist, below you will find some important considerations to make before taking the plunge. When learning how to buy Zcash in the UK – you will often come across terms like ‘fungible’ and ‘non-fungible’. These are really important terms to understand – as this is a major benefit of the Zcash blockchain. Crucially, although other blockchains in the crypto industry claim to be fungible, quite often they are not. This is because with networks like Bitcoin, chains of transactions are publicly viewable on the blockchain ledger. As noted above, Zcash carries all of the characteristics that an efficient payments network requires. For example, while Bitcoin transactions take a sluggish 10 minutes to confirm on the blockchain – in the case of Zcash, it’s just 75 seconds. Additionally, Bitcoin transactions can be super expensive when the network is busy. Zcash, however, averages a transaction fee of just a couple of pence – irrespective of how overloaded the network is or the size of the transfer in question. Moving on from the technological aspects of Zcash, it’s also important to assess its price potential. The easiest way to do this is to look at the sort of returns that Zcash has generated since it was launched in 2016. Back in December of the same year, ZEC tokens were trading at sub-$50. Fast forward to early 2018 and Zcash breached a market value of $880 per token. This means that in just over 12 months of trading, Zcash increased its market value by approximately 1,600%. Unfortunately, a price of $880 seems a distant memory for Zcash investors – as the digital token is now worth considerably less. In fact, at the time of writing in mid-2021 – you are looking at a market price of just over $90. This amounts to 89% less than its all-time high of 2018. On the flip side, Zcash did enjoy a fruitful start to 2021, as in just five months of trading, the digital asset went from a price of $64 per token to $370. This amounts to a price increase of almost 480%. Ultimately, the key takeaway here is that when timing the market correctly- Zcash does offer a sizable upside potential. However, there is also the chance that you will get your timing wrong and thus – lose money. When buying Zcash in the UK – you will need to go through a third-party broker or exchange. As such, certain fees and commissions will apply. The main fees to consider when investing in Zcash can be found below. The first Zcash fee to look out for is related to deposits. After all, if you want to buy Zcash in the UK – you first need to fund your brokerage account. The cheapest way to do this is through a crypto deposit or UK bank transfer. If you favor convenience, then by all means you can use a debit or credit card at a broker like eToro or Coinbase. However, depending on the broker you choose, the fees on debit/credit card purchases can be costly. For example, although Coinbase allows you to buy Zcash with Visa and MasterCard on a direct basis, you will be charged 3.99%. On the other hand, eToro charges just 0.5% – which is why it’s the best broker to use in the UK for debit/credit card crypto investments. Trading commissions are charged by brokers and exchanges when you place buy and sell orders. At Coinbase, for example, you will pay 1.49% when you enter a buy order on Zcash and again when you cash out. eToro charges a spread as opposed to a commission – which starts at 0.75% on cryptocurrency investments. To calculate your all-in trading fee, you simply need to multiply the commission rate by your total stake. It’s really important that you only buy Zcash in the UK with your eyes wide open. By this, we mean having a firm grasp of the potential risks. We found that the following risks need to be considered before you invest in Zcash. Make no mistake about it – governments around the world will do everything they can to counter the threats of money laundering and terrorist financing. With this in mind, it remains to be seen how much longer governments will tolerate privacy coins like Zcash. We mentioned earlier that in early 2018, Zcash hit an all-time high of $880 per token. This was largely due to the ‘crypto market craze; of late 2017 – whereby a huge bubble was created on the back of FOMO (Fear of Missing Out). Once the markets corrected themselves, most cryptocurrencies went on a prolonged bearish period. However, it is important to note that many top-100 cryptocurrencies have not only since regained their previous all-time highs from late 2017/early 2018 – but have surpassed this by a considerable amount. For example, while Bitcoin previously peaked at $20,000 – it breached $62,000 in 2021. Unfortunately for Zcash investors, the digital token has failed to get anywhere near its 2018 peak. In fact, the highest that ZEC tokens have gone since then is the $370 price level achieved in May of this year. Even at this price point, this is 57% below its prior all-time high. One of the main reasons that newbies decide against investing in cryptocurrencies like Zcash is that they are unaware of how the selling process works. WIth that said, if you followed our guide to the ‘t’ and made your purchase with eToro -selling Zcash could not be easier. All you need to do is: In clicking on the that all-important ‘Sell’ button, your Zcash tokens will be converted into cash – instantly. In fact, as the cryptocurrency markets never sleep – you can sell Zcash on eToro 24 hours per day! In conclusion, this guide has walked you through the nuts and bolts of how to invest in Zcash in the UK. We have highlighted the ease in which you can complete the ZEC token investment process when using a broker like eToro. The provider allows you to buy Zcash with a debit/credit card, bank transfer, or e-wallet at a minimum stake of just $25. You will only pay the spread to invest and most importantly – eToro is regulated by the FCA. By following the steps outlined in this guide – you can buy ZCash in the UK from eToro in just five minutes!
4. Binance – Best Broker to Buy Zcash for Asset Diversity
If you’re thinking about creating a long-term portfolio that consists of dozens of different digital tokens – Binance is worth considering. This is because in addition to Zcash – the platform is home to hundreds of cryptocurrencies. While this includes familiar projects like Bitcoin, Ethereum, and Ripple – you will also be able to access smaller-cap tokens. This allows you to buy digital tokens that are still up-and-coming and thus – have a higher upside potential.
How to Buy Zcash in the UK – Detailed & Explained in Full
Step 1: Open a Crypto Broker Account
Step 2: Verify Your Identity
Step 3: Deposit Funds
Step 4: Search for Zcash
Step 5: Buy Zcash UK
Buy Zcash – Best Place to Buy Zcash in the UK
Online Cryptocurrency Broker
Cryptocurrency Exchange
Ways to Buy Zcash UK
Buy Zcash With Debit Card
Buy Zcash With Credit Card
Buy Zcash With Paypal
Buy Zcash With Bitcoin
Why Buy Zcash UK?
Zcash is Fungible Like Cash
Speed and Fees
Zcash Price Action
The Cost of Buying Zcash in the UK
Deposit Fees
Commissions
Risks of Buying Zcash in the UK
Privacy and Regulation
Zcash Bubble
Selling Zcash: A Quick Overview
How to Buy Zcash UK – Conclusion
eToro – Best FCA Broker Buy Zcash UK
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FAQ
How to buy Zcash in the UK?
Where to buy Zcash in the UK
Is Zcash a good investment?
Is Zcash safe to invest in?
How to sell Zcash?
