Zcash listed on Coinbase Pro exchange

According to Coindesk, Coinbase announced on Thursday that customers can transfer Zcash to its professional trading platform Coinbase Pro. Like previous new currencies, users cannot buy the currency until the exchange builds sufficient liquidity. After the transaction is opened, only Coinbase Pro users in the United States (except New York), the United Kingdom, the European Union, Canada, Singapore and most parts of Australia can trade the currency.

The Zcash official blog also published an article

“ Today, Coinbase announced support for Zcash trading on Coinbase Pro. This provides over 20 million Coinbase customers with access to Zcash, the first privacy-preserving coin listed on Coinbase.

In their press release, Coinbase stated that they “…will support deposits from both transparent and shielded addresses, but will only support withdrawals to transparent addresses. In the future, we will explore support for withdrawals to shielded addresses where compliant with local law.”

Coinbase also describes the difference between Zcash’s transparent and shielded transactions as similar to the difference between unencrypted HTTP and encrypted HTTPS. This is true. However, transparent addresses work just like Bitcoin and most other cryptocurrencies. So the analogy extends to every cryptocurrency that isn’t encrypted to protect user privacy.

We are pleased to hear that Coinbase is committed to exploring support for shielded address withdrawals and see this as a strong signal to the cryptocurrency, regulatory, and financial communities that they all respect their users’ right to privacy and believe that privacy can and should be supported in a regulated environment.

The Zcash Company's mission is to empower everyone with economic freedom and opportunity. Cryptocurrencies like Bitcoin offer many of the properties needed to provide this freedom, but transactions on the blockchain are visible to everyone. Zcash takes Bitcoin a step further by using a cryptographic standard called zero-knowledge proofs to protect citizens' privacy, thus protecting them from bad actors. This allows users to send and receive Zcash without disclosing the sender, receiver, or transaction amount.

As the industry matures, we believe that most exchanges, governments, and other financial institutions will require privacy protections, leading to widespread adoption of Zcash. This announcement by Coinbase is an important step in providing Zcash access to millions of people around the world. ”

Influenced by this news, Zcash once exceeded $95