ZCash Day Trading Tutorial, Brokers and Buying Guide

ZCash (ZEC) is a cryptocurrency based on a decentralised blockchain. Where it differs from the likes of Bitcoin (BTC) is its use of cryptography to provide enhanced anonymity. This page will break down everything you need to know about ZCash, including its history, wallets, mining and future price forecasts. Finally, this page will wrap up with guidance on how to go about day trading with ZCash gold coins.

ZCash Brokers & Exchanges

#1 - eToro USA

eToro US leads the way in cryptocurrency trading. 1% fee for buying or selling crypto added to the spread (from 0.75% for BTC), with their own wallet service and the largest number of cryptos to trade in the market. eToro copy trading is only for cryptos. Crypto asset investing is highly volatile and unregulated. No consumer protection. Tax on profits may apply.

"eToro is a top pick for traders looking for social investing and copy trading. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer traders."

- DayTrading Review Team
  • Crypto Spread: BTC 0.75%
  • Crypto Lending: No
  • Platforms: Own
  • Crypto Staking: No
  • Minimum Deposit: $10
  • Regulator: SEC, FINRA

About eToro USA

eToro is a social investing platform that offers stocks, ETFs, options, and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, this brand is highly respected. eToro securities trading is offered by eToro USA Securities, Inc.


  • The online broker offers an intuitive social investment network with straightforward copy trading on cryptos
  • eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
  • A free demo account means new users and prospective traders can try the broker risk-free


  • Narrower range of instruments than some competitors
  • Average fees may cut into the profit margins of day traders
  • Execution speeds trail the fastest brokers

#2 - Scope Markets

Go long or short on popular cryptos like Bitcoin, Ethereum and Ripple with leveraged CFDs and competitive spreads. Depending on the jurisdiction, different regulations apply. CFDs on cryptocurrencies are not offered in all jurisdictions.

"Scope Markets will appeal to short-term traders seeking highly leveraged CFDs and spot investment products on the powerful MetaTrader 5 platform. The Scope Markets Group stands out for its range of trading tools and educational materials."

- DayTrading Review Team
  • Crypto Spread: Variable
  • Crypto Lending: No
  • Platforms: Scope Trader, MT4, MT5
  • Crypto Staking: No
  • Minimum Deposit: $50
  • Regulator: CMA, FSC, FSCA

About Scope Markets

Scope Markets offers day trading and investing in multiple spot and CFD instruments. The group of brokers is regulated in several locations, including Belize, Kenya and South Africa. Users get competitive trading conditions, a range of payment methods, strong support and can get started in a few straightforward steps.


  • Day traders can enjoy both MT4 and MT5 platform integration, with support for Expert Advisors (EAs)
  • Fees are fairly competitive, with spreads from 0.9 pips and zero commissions
  • The Scope Trader proprietary platform offers 50+ charting tools and an intuitive design


  • Average spreads are wider than some alternatives
  • Educational resources are very limited which is a shame for beginners

#3 - World Forex

Traders can access CFDs on crypto assets through World Forex's dedicated W-CRYPTO accounts, which offer leveraged cryptocurrency trading with spreads from zero. We rate that you can trade on 10 cryptos paired with the USD and EUR, while crypto-crypto pairs are also available.

"World Forex provides both highly leveraged CFDs and digital contracts, making this a good broker for clients who want flexible and rewarding ways to trade. The copy trading service will also appeal to newer traders."

- DayTrading Review Team
  • Crypto Lending: No
  • Platforms: MT4, MT5
  • Crypto Staking: No
  • Minimum Deposit: $1
  • Regulator: SVGFSA

About World Forex

World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.


  • VPS hosting
  • Copy trading solution
  • STP/ECN technology


  • No negative balance protection
  • Weak regulation
  • Withdrawal fees apply

#4 - Pionex

Make spot, future and leveraged trades on 120 cryptocurrencies via Pionex's proprietary platform with built-in trading bots and highly customizable automated trading options. On the negative side, the range of tokens is narrower than many alternatives.

"Pionex is an excellent option for crypto traders with an interest in cutting-edge AI like ChatGPT and automated trading."

- DayTrading Review Team
  • Crypto Spread: Market
  • Crypto Lending: No
  • Platforms: Own
  • Crypto Staking: No
  • Minimum Deposit: $0
  • Regulator: FinCEN

About Pionex

Pionex is a crypto trading platform that specializes in trading robots, offering a variety of ready made bots and strategies to traders as well as integrated AI to help customize a strategy or come up with your own. These can be used on spot crypto markets as well as crypto futures.


  • Low trading fees compared with other major exchanges at 0.05% maker and taker
  • Money Services Business (MSB) license by US FinCEN
  • Supports crypto derivatives via futures trading


  • Withdrawal fees and limits may apply
  • Does not accept fiat deposits
  • Limited contact options

#5 - Kraken

Kraken is a specialized crypto exchange and supports more than 220 cryptocurrencies. These include all of the established tokens like Bitcoin as well as some altcoins. Traders can make trades on spot crypto markets with up to 1:5 leverage or on futures with up to 1:50. Fees are low and the platform is super easy to pick up.

"Kraken will suit traders looking for a diverse list of cryptos including Bitcoin and a good security track record."

- DayTrading Review Team
  • Crypto Spread: 0-0.26% average
  • Crypto Lending: No
  • Platforms: AlgoTrader
  • Crypto Staking: Yes
  • Minimum Deposit: $10

About Kraken

Kraken is a leading cryptocurrency exchange with a proprietary trading terminal and a list of 220+ tradeable crypto tokens. Up to 1:5 leverage is available with stable rollover fees on spot crypto trading and up to 1:50 on futures. The exchange also supports crypto staking and has an interactive NFT marketplace.


  • Excellent range of 220+ more established cryptocurrencies
  • Crypto staking
  • 50x leverage on futures trading


  • Does not support many newer altcoins
  • Slow verification times
  • Does not accept fiat deposits

What is ZCash?

ZCash is the first open-source, permissionless cryptocurrency. Essentially, ZCash is Bitcoin but with some important improvements. Instead of your entire payment history being public if someone has your address, ZCash encrypts all information using zero-knowledge cryptography. As a result, users can’t see the:

Much of the cryptocurrency’s value and potential profitability centres around this promise of enhanced privacy.

Day trading with ZCash


According to the website, there is to be a limited total supply of 21 million units. However, in the first four year period, 20% of the coins generated were to be allocated to a ‘founders reward’, which would be shared with investors, developers and a non-profit.

ZCash also uses the same insurance rate as Bitcoin with 21 million ZEC to be brought out over 131 years. Although, instead of 10-minute block transaction times, ZCash will use a 2.5-minute block average with four times greater block rewards that halve every four years.


Understandably, a difficulty this cryptocurrency is facing comes from law enforcement, who distrust the uses brought about by the privacy features. In fact, the founder has held numerous virtual meetings to emphasise “they did not develop the currency to facilitate illegal activity“.

However, ZCash does facilitate a ‘selective disclosure’ process. This enables private transactors to prove payments for auditing purposes. This gives clients the option to comply with anti-money laundering and tax regulations. As the developers explained, “Transactions are auditable but disclosure is under the participant’s control“.

So while the network’s usage may be questionable, long-term scalability looks promising and is set to attract considerable investment.


ZCash came to life in October 2016 when founder Zooko Wilcox-O’Hearn wanted to tackle privacy issues online using an open financial system. As laid out in the white paper, instead of offering the open ledger system of Bitcoin, ZCash wants to provide an encrypted open ledger.

The founder appears to be the right man for the job. He has over 20 years of experience in decentralised systems and cryptography. In fact, his highly regarded works include:

Also among the founding team is cryptographer Mathew D. Green and initial investor Roger Ver. Of course, a huge number of other people helped build the system too. In fact, it began with the Zercoin protocol bring improved and turned into the Zerocash system. This was then enhanced and turned into the ZCash cryptocurrency in 2016. Protocol evolution is implemented by the Zerocoin Electric Coin Company, also known as the ZCash company.

The year after its launch there was a clear upward trend in favour of ZCash, as the currency was trading at $68.7 by April 2017. Price analysis shows it also boasted a market capitalisation of $80.2 million, ensuring it ranked on the list of top ten cryptocurrencies. This rise continued into the start of next year, as 2018 price predictions were met and often exceeded. In fact, the cryptocurrency regularly reached new all-time highest prices.

Overall, news of ZCash’s worth and reviews of the coin have helped shaped its history so far and continue to drive future forecasts.

ZCash Live Chart

How it Works

Head over to cryptocurrency forums and anonymity will often feature in discussions. Fortunately, ZCash uses sophisticated software and code to ensure privacy.

A special proof, zk-snark secures the network. The zero-knowledge proof basically allows two users to transfer capital without either party having to reveal their addresses. Obfuscation also ensures the value of the transaction is kept a secret. The addresses that are stored on the blockchain are shields, making it virtually impossible to trace the path between sender and receiver.

Whereas with Bitcoin, each full masternode stores details of what is held by each address in the UXTO or unspent transactions output database. Each transaction is then verified in order to unlock the output.

The approach taken by ZCash essentially implements an additional layer of privacy into transactions. Having said that, by the end of 2017, only about 4% of coins were in the shielded pool. At this point, most wallets did not actually support Z-addr and there were no online web-based wallets that did either.


Aside from cybercriminals on the darknet, there are a number of reasons users may want to use ZCash, including:

On balance, the long-term outlook and uses for ZCash look both positive and legitimate.


For those deciding whether to buy and sell ZCash, there are several serious advantages to consider, including:

So for many reasons it has become accepted ZCash has a lot to offer potential investors and cryptocurrency explorers. In addition, the advantages are only likely to increase as the roadmap is followed and updates are made.


Despite the benefits outlined above, there are also risks to consider, some of which may lead to a drop and even crash in ZCash prices, including:

So despite promising stats so far, there are a number of factors that could cause ZCash rates to start falling.

How to Buy ZCash

There are a number of exchanges where you can buy ZCash online either directly with a debit card or by purchasing BTC and transferring it to ZEC. Popular options include:

Regardless of whether you’re from the UK, the US or Europe, look for the lowest quotes, rates and transaction fees. For example, USD exchanges may offer accounts with better prices to USD than GBP and Euro. Remember also that many brokers offer single click access to cryptocurrencies (IQ Option offer over 20) – allowing trader to speculate and day trade on price movements, with needing to own the asset itself.

Alternatively, you can try ZCash on the test network for free by heading to a faucet.


Once you have your gold coins, you will also need a secure wallet to store them in. Fortunately, you can download a number of wallets. The official wallet is built for Linux. However there are also iOS app wallets, Mac wallets, other desktop and hardware wallets, plus you can get offline paper wallet generators. But perhaps the most popular option is the Ledger Nano S.

Although you now know where to buy ZCash, effective intraday trading with these coins will require careful price analysis of graphs and the following of the latest news.

ZCash Mining

Cryptocurrency mining is becoming increasingly popular. Unsurprisingly joining the best GPU ZEC mining pool is a high priority for many. ZCash will use the hashing algorithm Equihash. This is an asymmetric memory-hard PoW algorithm. It works much like Ethereum. It comes with high hardware requirements, including significant RAM to narrow the generation of proofs and ensure ASIC development isn’t possible.

You can test ZCash with a free cloud mining contract from the Genesis. Flypool has also attracted a number of perspective USB and other miners.

However, it’s worth bearing in mind you need to do more than learn how to mine. There are also risks to consider. For example, CPU Linux and Mac mining rigs will require an expensive amount of electricity. You will need to consider this price in your earnings calculator. Also, conduct a hardware comparison before you start to ensure you explore the most viable route.

Fortunately, detailed guides can walk you through everything you need to know, from network hashrate calculators and hashing power to mining hardware and pool lists.

What’s Next for ZCash?

It has been clear since the launch date that this cryptocurrency had potential and historical prices so far have confirmed that. In fact, some even suggest the digital currency remains undervalued.

Having said that, the crypto world has set a high benchmark. Furthermore, the Zerocash protocol’s zk-SNARKS is relatively untested. As a result, many classic price forecasts have been purely speculative. Therefore, it is likely that future prices will depend on supply and demand, with the former rising while the later remains unclear. Thankfully this promises intraday traders precisely the volatility needed to yield profits.

For more crypto guidance, see our cryptocurrency page.