As more and more investment and development resources get funneled into the cryptocurrency world, businesses are finding new and innovative ways to put this revolutionary technology to use. This is particularly true of the online casino industry, who were early adopters of cryptocurrencies. Of the many currencies currently available to use, ZCash is one of the most popular to have come out in recent years. Although it provides much of the same functionality as the original cryptocurrencies, it has several extra security features which make it worth checking out. With that said, keep reading for a quick overview of ZCash and what benefits it has for online casino fans!
ZCash is a popular cryptocurrency that originally evolved from the Bitcoin project. The developers of ZCash hoped to take the blockchain technology underpinning Bitcoin and add several extra security features. It was released in its current form in 2016 under the name ‘ZCash’ and is also known as ZEC. ZCash is essentially an enhanced version of Bitcoin that adds extra security protocols to provide fully shielded transactions. This means that when you make a transaction with ZCash, the sender, recipient and other payment details are encrypted and kept entirely private. Although well behind Bitcoin, Ethereum, and other popular cryptocurrencies in terms of market capitalization, it has still proved popular with crypto enthusiasts. It currently sits in the top 60 most popular cryptocurrencies and has an active development community surrounding it.
To get started using ZCash at your favorite crypto casino, here is a quick overview of what the process will look like. Although the steps might vary depending on what provider you use, the process will look something like this:
Before trying to purchase or acquire cryptocurrency to use online, we recommend setting up an account with your preferred online casino provider. When choosing a ZCash casino to play with, be sure to choose one that advertises support for cryptocurrencies. Although crypto support is widespread across the industry, the level of support available can vary between providers. To receive cryptos such as ZEC to your account, you must verify your identity.
To send and receive cryptocurrency payments, you will need to have a digital wallet to store it in. These come in both desktop and cloud-based versions. Cloud-based wallets are the easiest to set up and are often automatically created when you create an account with a cryptocurrency exchange. However, they may lack some of the advanced security features that desktop wallets offer. Once you have set up a wallet, you will be able to link this to your online casino account and send and receive ZEC.
Once you have selected which wallet you want to use, you will need to activate it. Be sure to follow the steps set out by your wallet provider, which may include identity checks. Once it is fully verified, you can start making ZCash casino payments.
ZEC can be acquired using online cryptocurrency exchanges. The availability of ZCash will depend on the exchange you use, which may or may not offer ZEC depending on how popular it is. You can make purchases on the exchange using either other cryptocurrencies or traditional payment methods such as a bank transfer or debit/credit card.
Once you have acquired your desired amount of ZCash, you will then be able to send it directly to your online casino account. To do this, you will usually need a digital wallet address, which essentially tells the ZCash network where to send your funds. Funds can then be sent straight from your digital wallet, and the transactions will usually be processed within seconds.
In terms of the positives of using ZCash at online casinos, here are the main things to keep in mind:
Privacy features: ZCash is designed from the ground up with privacy in mind. It provides safe, completely anonymous transactions which keep the identity of the sender and receiver private.
Efficient transactions: As the ZCash network is much smaller when compared to other cryptocurrencies with a larger network and market cap, ZEC transactions can be verified and processed much more quickly. This means you can make essentially instant ZEC transactions.
Low transaction fees: As the network is smaller and transactions can be verified more efficiently, the costs associated with verifying a transaction will be much smaller when compared to some popular currencies.
ZCash is generally accepted at any online casinos that advertise support for cryptocurrencies. This includes online sportsbooks, online casinos and various online gambling platforms. It should be noted, however, that support for ZCash is not quite as widespread across the industry as other cryptocurrencies are.
Although it might not be the most popular cryptocurrency around, ZCash is a highly versatile digital currency that is packed with privacy and security features that are highly desirable for online casino fans. For this reason, many ZCash casinos accept this currency as part of their adoption of cryptocurrencies.
In terms of what the future has in store for ZCash, as with many cryptocurrencies, this is not completely clear. Several planned network upgrades will boost some of the privacy features, which will undoubtedly prove useful for online casino fans. Despite this, the popularity of ZEC does lag behind other more popular coins, which could make the price of ZCash unstable for some time to come.