Zcash (ZEC) has finally manage to make its way onto the San Francisco-based exchange Coinbase. The exchange will be accepting inbound transfer of Zcash on it’s professional trading arm Coinbase Pro. The process has been said to begin during 10 AM PT on November 29.
The announcement was made in a blog post by Coinbase, stating that they will accept deposits for at least 12 hours being trading is enabled. Once sufficient liquidity is established, trading on ZEC/USD order book will launch.
The blog post further elaborates on the trading of ZEC will initially become available for Coinbase Pro customer based in the US (excluding NY), Canada, UK, Australia, Singapore, and EU. Plans of including other jurisdiction might be added in a later date.
What sets Zcash apart from it’s other competitors is the fact that it utilizes recent developments in cryptography to allow customers to protect the privacy of transaction at their discretion. The blog further explains that the distinction between Zcash’s transparent and shielded transaction is similar to the distinction between a unencrypted HTTP and encrypted HTTPS.
At first, the exchange will support deposits from both the transparent and shielded addresses, but plants to only support withdrawals to transparent addresses. Coinbase will continue to explore other possibilities for the coming future to support withdrawals to shielded addresses in location where it complies with the laws of the land.
Coinbase has mentioned how common it is for them to receive requests from customers to be able to trade more assets on their platform. With this recent announcement of including Zcash to their listing, anticipation for including even more will grow. It’s going to be quite interesting to see which crypto coin makes it to their list next.
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