Coinbase, the U.S. based cryptocurrency exchange just announced support for Privacy based cryptocurrency Zcash (ZEC) on its Coinbase Pro platform.
Coinbase will start accepting deposits for Zcash, with trading to begin very shortly and will be available to Coinbase Pro users in most U.S. cities, UK, Europe, Canada, Singapore and Australia with more jurisdictions to be covered in the coming months.
Full support is not yet added since Zcash is a private Cryptocurrency and offers both transparent and shielded transaction types, which show different amounts of information about a transaction. In particular, shielded addresses are anonymized, while transparent transactions are traceable.
ZEC is launching on Coinbase Pro. Starting at 10am PT, customers can transfer ZEC into their Coinbase Pro account. Traders can deposit ZEC, but cannot place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/5nADybxqKk
— Coinbase Pro (@CoinbasePro) November 29, 2018
Following this announcement, the Zcash price spiked from $82 to over $93 with the current price at $85, market capitalization is around $456 million, with daily trading volume at around $171.3 million as per CoinMarketCap.
Blockmanity’s Take
Coinbase added another tradable asset to their platform holding true to its promise to its customers. With this recent Zcash addition, they are on their way to listing many more coins in the coming months.
Also Read:
Bitcoin, Ethereum, Bitcoin Cash, XRP & Litecoin to be listed on the newly approved Coinbase Custody
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