Coinbase Increases the Number of Assets on Platform, Zcash Now Available for Trading


One of the planet’s most well-known digital assets businesses has added the privacy-focused cryptocurrency Zcash to the list of assets it supports.

The move is in line with efforts from the San Francisco startup to hasten the addition of different digital assets and further broaden the appeal of its successful brokerage platform.

Coinbase Continues to Add New Digital Assets to Its Listings

One of the United States’s largest cryptocurrency exchange platforms, Coinbase, has just announced via a blog post that it will be listing the anonymity-focused digital currency, Zcash(ZEC).

Buying, selling, sending, receiving, and storing of the new asset will begin today for some customers. However, those residing in either the United Kingdom or New York are currently exempt from the extra trading pairs added to the Coinbase platform. The post does mention that these jurisdictions may be added later.

The announcement gives a little background on Zcash, for those unfamiliar with the project:

“Zcash is a cryptocurrency that uses recent advances in cryptography to allow users to protect the privacy of transactions at their discretion. The distinction between Zcash’s “transparent” and “shielded” transactions is analogous to the distinction between unencrypted HTTP and encrypted HTTPS. In both cases, the unencrypted/transparent version of the protocol allows third parties to see metadata associated with the communication or transaction, while the encrypted/shielded version protects this information.”

Additional information is provided about Zcash and a host of other digital assets by Coinbase using the recently launched Coinbase Learn platform.

The post goes on to state that customers will be able to send Zcash to Coinbase using both shielded and transparent addresses. However, to avoid stirring unwanted regulatory attention, the San Francisco exchange giant will only allow users to withdraw using non-shielded transactions at first. There are plans to allow those in jurisdictions allowing for the use of shielded address cryptocurrencies to withdraw using the more privacy-preserving features of ZEC.

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Coinbase is great! 

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It's good news for the crypto market. 

Oops! I don't keep zcash yet. Should I buy one?

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