Aug 21, 2024 02:35

XS.com Review (2024): An In-Depth Look at This CFD Broker

Finding a reliable CFD broker in today’s crowded market can be challenging. With so many platforms claiming to offer top-notch features and robust security, it’s hard to know which ones truly deliver on their promises. XS.com has emerged as a strong contender, offering a comprehensive suite of features, advanced trading tools, and rigorous security protocols. […]

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Aug 16, 2024 02:35

Protected: The Money Factory Social Casino Review

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Aug 17, 2024 02:35

The Money Factory Social Casino Review

The Money Factory Social Casino  has entered the market with an ambitious goal: to transform social casino gaming through its unique blend of engaging games, live dealer experiences, and a robust sweepstakes system. This review provides an objective analysis of The Money Factory Social Casinos features and services, highlighting the platform’s strengths and areas that […]

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Jul 04, 2024 02:35

What Is Whaleportal and How Does It Work? 

Crypto has been around for long enough to convince us it is probably the way to go in the near future. With its many advantages, crypto can become the status quo of the financial sector, especially if it works on features that leave room for improvement.  With so many cryptocurrencies available on the market and […]

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Jul 25, 2024 03:35

Zoomex: The Future of Centralized Cryptocurrency Trading

In an era where security, anonymity, and user experience are paramount, Zoomex is redefining the landscape of cryptocurrency exchanges. As…

The post Zoomex: The Future of Centralized Cryptocurrency Trading first appeared on The Crypto Basic.

Jul 25, 2024 02:35

Zoomex Review: Top Reasons to Choose It and How It Can Elevate Your Trading Experience

As we know it today, the crypto market is an ever-changing landscape filled with many earning opportunities. To give you a rough idea, the global crypto market has a market cap of $2.37T, so just imagine tapping into its potential. However, whether you’re a newbie or an advanced trader, you’ll need a robust crypto platform […]

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Jul 24, 2024 02:35

Hamster Kombat Full Review: Yay or Nay?

For all crypto P2E players, there’s a new game in town. Hamster Kombat is a new game offering its players many crypto rewards that can be sold on different crypto exchanges later. Since it was recently launched, its initial phase has been working through Telegram, whereby you can invite your friends to play along for […]

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May 09, 2024 02:35

Raindex Is Transforming Decentralized Trading On The Flare Blockchain

Raindex is an innovative platform that just debuted on the Flare network. Via the Flare blockchain, Raindex has provided a great innovation by trying to overcome the scalability issues and low transaction speed despite the complexity of the decentralized exchanges (DEXs).  An innovative approach towards token trading is offered by Raindex, i.e. Flare Time Series […]

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Feb 01, 2024 05:17

The Most Comprehensive Bitcoin Circuit Review of 2022

By 2023, it’s anticipated that the worldwide digital currency market will be worth more than $23 billion. So the reality is there’s just no time to spare to get a decent stronghold in the crypto market. In any case, how would you make it happen in a safe trading environment? Continue reading this Bitcoin Circuit […]

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Feb 01, 2024 05:17

Bitcoin Buyer Review of Official Website [2022]

People all over the world have been experiencing the effects of inflation. The governments are not left out as unending economic decline seems to be the order of the day in many countries. For this reason, investment decisions are getting more challenging to make. Cryptocurrencies have become the solution individuals and institutions look up to […]

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Feb 01, 2024 05:17

Bitcoin Digital | Official Website Review [2022]

Have we just found the best trading system in the crypto market? This Bitcoin Digital review will show you a legit website that can make crypto trading safe and efficient. Bitcoin Digital claims it can connect you with the best crypto brokers on the market. Through them, you can use a top-tier trading platform and […]

The post Bitcoin Digital | Official Website Review [2022] first appeared on BiteMyCoin.com.

Apr 16, 2024 02:35

HugeWin The One-Stop Shop Crypto Casino for Any Desires

Whether you’re a newcomer, an experienced hand, or someone who simply enjoys the thrill of online gambling, you’ve probably wondered how to hit the jackpot in online casinos. We believe it all boils down to one crucial factor: your choice of online casino. A dependable and strong casino should instill confidence from the get-go. It […]

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Jul 02, 2023 05:35

The Ultimate BTSE Review 2023

As a cryptocurrency trader, you were undoubtedly faced with the dilemma of choosing an exchange to suit your investment needs among a staggering number of trading platforms in the cryptocurrency market.

CoinStats regularly reviews leading platforms like Binance, Coinbase, or Kraken, relatively small but reliable crypto exchanges like the Bibox exchange, and a relatively new derivatives exchange like BTSE and presents their advantages and drawbacks to help you pick the right trading platform for buying, selling, and trading digital assets.

BTSE is a derivatives exchange that offers a rich suite of digital assets, spot and derivatives trading, NFT and exchange white labels, over-the-counter (OTC) trading, and a viable fiat to cryptocurrency conversion.

Our BTSE review will discuss the platform's services and features, advantages and disadvantages, trading fees, security, etc., and demonstrate how to start trading on the platform to maximize profits.

What Is BTSE Exchange?

BTSE exchange is a relatively new platform registered in the British Virgin Islands. It has been active since September 2018. The platform is a licensed entity formed by two registered companies, BTSE Commercial Brokers LLC (814684) and BTSE Payment Service Providers LLC (814678). Based in Dubai, BTSE is licensed by the Department of Economic Development, Government of Dubai, and operates under regulations set by the Central Bank of the United Arab Emirates.

The BTSE team comprises Jonathan Leong, co-founder / Chief Executive Officer; Brian Wong, co-founder / Chief Product Officer; Yew Chong Quack, Chief Technical Officer; and Joshua Soh, Chief Operating Officer.

BTSE stands for Bitcoin Trading and Securities Exchange and is described as a multi-currency digital assets exchange and derivatives platform that innovates and delivers a one-stop solution bridging the gap between traditional fiat markets and the crypto world.
The BTSE exchange offers spot and futures markets and a viable fiat to cryptocurrency conversion. It supports nine different fiat currencies and fiat/crypto pairs, including not only standard trading pairs for the US dollar and Euro but also the Japanese Yen, Swiss Frank, Hong Kong dollar, etc. The platform supports advanced trading options like spot trading, leveraged trading, the perpetual contract option, OTC trading, etc., and multi-asset collateral and settlement for derivatives trading.

Additionally, BTSE offers an all-in-one order book for deep liquidity, credit card top-ups for quick account funding, low conversion fees, and up to 12.5% APY for USDT deposits.

BTSE is the first exchange to offer Web3 wallet support for both MetaMask and Phantom wallet extensions enabling users to make easy deposits and withdrawals of Ethereum and Solana.

The platform offers lucrative incentives like deposit bonuses and referral programs, and the Testnet trading platform that enables novices to test the exchange's features using fake money.

BTSE exchange currently generates over $1.5 billion in daily trading volume on BTC and ETH futures. The trading platform securely stores over 99% of customers' funds in cold wallets.

The exchange was rated 7/10 on the CoinGecko security scale and ranked 56 safety-wise out of 518 exchanges.

How to Start Trading?

Trading on the BTSE platform is relatively intuitive and straightforward. Follow this quick tutorial to begin trading right away:

Step #1: Registration

The BTSE exchange requires platform users to provide a valid email address or a mobile number and create a solid password to create a BTSE account. After submitting the form, check your email inbox for the registration confirmation and click the verification link.

Users wishing to upgrade their account and benefit from several advantages such as lower fees and larger withdrawal limits must undergo the Know Your Customer (KYC) procedure and verify their identity through ID confirmation and proof of residential address via a utility bill, credit card bill, bank statement, or mobile phone bill issued within the last 3 months.

Users wishing to trade fiat currencies must also perform identity verification.

Note: If you have a referrer, click "Referral Code" and fill it in.

Step #2: Deposit Funds

To start trading, users must deposit funds, like on any other trading platform. The BTSE exchange supports a wide range of deposit options, including:

Crypto Deposits

Users with experience in crypto trading can link their existing crypto wallets to the BTSE exchange and deposit their digital currency to begin trading.

Fiat Currency Deposits

You can also deposit fiat currency into your account through a wire transfer, a credit/debit card, etc.

NOTE: The BTSE platform requires ID verification for credit card deposits and additional proof of address for bank transfers and fiat withdrawals.

Step #3: Start Trading

To buy or sell digital currencies, you must go to TRADING and select the digital currency. Then you must choose the Buy/Sell method under "MARKET / LIMIT / INDEX."

NOTE: BTSE exchange provides a user-friendly TradingView for monitoring price movements.

TIP: If you don't find the token you need within the fiat pairs, check if it has an available pair with Bitcoin.

Spot Trading

• Click on "Spot" under "Trade" on the top navigation bar
• Search and enter the pair you want to trade
• Select Buy or Sell and choose your Order type
• Set buying/selling prices and buying/selling amount (or exchange total). Then click on "Buy Order"/"Sell Order" to submit your order
• View your order in "Open Orders" at the bottom of the page.

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Start Free Trial Trading Options

BTSE exchange offers several trading options to cryptocurrency traders, including:

Spot Trading

The BTSE exchange spot trading feature offers 11 markets, 5 are standard trading pairs, and the other 6 are indexes. Since an index represents the performance of a group of digital assets, you'll not be buying any actual underlying asset but rather the average performance of the group of assets.

Pairs like BTC/USD, USDT/USD, and ETH/USD are included in the standard offer, while BTC, ETH, LTC, and XMR are in the index offer, along with the BTSE 5 and BNC-BTSE (BBCX) composite indexes.

Here are the spot trading limits sizes:

• BTC: min 0.002 – max 2000
• USDT: min 10 – max 100,000
• ETH: min 0.05 – max 5000
• LTC: min 0.05 – max 5000
• XMR: min 0.05 – max 1000
• BTSE token: min 1 – max 25.

BTSE Futures Exchange

BTSE offers an extensive futures exchange, with over 20 futures contracts, such as BTC, ETH, LTC,  XMR, USDT, and BBCX.

Futures contracts also have an expiration range, and some offer a perpetual contract option, meaning a contract with no expiration date.

Following the industry standard, some futures can be traded up to 100x leverage, or a 1% initial margin, which brings us to the next order of business.

Leveraged Trading

Leveraged trading on the BTSE futures exchange can go up to 100x on some trading pairs, i.e., you need a margin of only 1% to make 100x larger orders.

NOTE: Margin trading is extremely risky. User funds can be lost if the trader bets on the wrong outcome. However, it can also grant massive returns if the bet is right, making it a high-risk/high-reward trading method.

OTC Trading

BTSE operates a 24/7 OTC (Over The Counter) desk at no additional cost. OTC trading enables prominent players in the crypto community to sell or purchase large amounts of digital currency, which is impossible on a regular trading platform because the crypto market value is affected by large trades.

Furthermore, the order book might be too thin to execute the relevant trade.

Trading Fees

BTSE Exchange uses different fee structures for its spot and futures trading platforms. For spot trading, BTSE uses the maker/taker fee model, which charges takers more than market makers. For accounts trading <100 BTC per month, maker fees are 0.05%, while taker fees are 0.1%. Moreover, the platform determines the account VIP level based on a one-month rolling window of trading volume, which is recalculated daily. Higher volume accounts benefit from a trading fee reduction of up to 80% on maker fees and 70% on taker fees.

Specific trading conditions are set according to a user's trading volume (calculated in Bitcoin) and VIP level.

Trading volume in another currency is converted into Bitcoin-equivalent volume using the spot exchange rate.

It also offers a direct conversion tool between USDC, TUSD, and USD, charging just 0.3% to convert these stablecoins to fiat.

BTSE exchange doesn't charge deposit fees.

Deposits and Withdrawals

BTSE platform enables you to make a deposit via SWIFT remittance. You get your transaction number and bank information under "Login" > "WALLETS" and can view all SWIFT remittance fee types on the platform’s site.

To withdraw fiat currency, go to SWIFT Remittance Log-in and "WALLETS," and click on "Withdraw" under the fiat currency field. Enter the amount you want to withdraw and choose the bank account to which you want your currency to be withdrawn.

Similarly, to withdraw digital currencies, simply click "Withdraw" under the digital currency window, enter the amount, and choose the account you want your currency to be withdrawn to.

The BTSE withdrawal fees vary depending on the withdrawal currency and typically stand at the industry average. The minimum withdrawal amount also differs depending on the token.

For example, the Tether USD coin minimum withdrawal amount stands at 10 USDT, and its withdrawal fee is 5 USDT, with no minimum deposit or deposit fee.

Bitcoin traders, on the other hand, get different terms. The minimum withdrawal for BTC is 0.002 (equivalent to approximately $40 at the current rate), and the deposit fee is 0.0005 BTC (roughly $10).

NOTE: The crypto market is volatile, and the fees listed in digital currency have no solid dollar equivalent and are subject to change due to that volatility.

The deposit and withdrawal conditions are different for crypto traders wishing to withdraw in fiat. For example, the minimum withdrawal and deposit amounts for USD are $1,000, and the fee is 0.1% off the relevant trade. No deposit fee is charged. Fiat currency deposits may be charged a bank fee, payable to the bank, not to BTSE.

BTSE Token

The BTSE token is the exchange's native token powers the BTSE ecosystem. It grants holders extra advantages and serves as the exchange's base currency. The BTSE token is the first exchange token built on Liquid, a Bitcoin sidechain-based settlement network for traders and exchanges. The BTSE token reduces holders' trading fees and is used as a payment method for buying BTSE exchange products and services. Additionally, the BTSE token allows users to save 60% on exchange fees.

Customer Support

Regarding cryptocurrency exchange assessment, customer support is an essential factor to consider. BTSE reviews often include the exchange's poor customer service in their list of disadvantages. Moreover, some customers report it to be slow and unhelpful. The platform has no live chat, social media channels, or phone support to enable users to contact BTSE instantly and solve their problems without wasting time.

BTSE exchange provides a support desk with a help chatbot designed to answer only general concerns about using the platform.

To contact BTSE customer support, you must use the internal ticket system only. You'll get a reply after several hours according to your query, which might not solve your problems.

Frequently Asked Questions Is BTSE Exchange Available In the US?

While there is no direct restriction from the BTSE exchange, US customers might go against the Securities Exchange Commission (SEC) regulations while using the platform. Some other global restrictions include Belarus, Cuba, North Korea, Syria, Iran, Venezuela, Libya, Russia, and Yemen.

Is BTSE Exchange Safe?

BTSE hosts its own exchange and doesn't rely on lax third-party security, which can lead to data breaches. It uses Google’s two-factor authentication system, preventing unauthorized people from accessing users' accounts. 

BTSE Exchange claims user funds are stored in cold storage, accessible only via multiple keys. The exchange has been praised for bringing institutional-grade security to everyday investors.

Is BTSE Exchange Decentralized?

BTSE exchange is a Decentralized Finance (DeFi) platform that supports trading in fiat currencies and digital assets.

Conclusion

The BTSE crypto exchange is an all-in-one platform with top-notch security and a wide range of digital assets, trading pairs, and deposit methods. It offers high flexibility and liquidity to its traders. The exchange is beginner-friendly, enabling novices to quickly and efficiently buy, sell, convert, or invest on the platform. The BTSE platform also provides advanced trading features to experienced traders, including traditional spot markets and leveraged trading.

The introduction of a separate educational platform, the BTSE academy, has already gained massive popularity amongst cryptocurrency traders.

BTSE also provides some unique features compared to its competitors, such as access to verified merchants and the possibility of becoming verified merchants.  

We hope our BTSE exchange review has been helpful for your crypto trading!

It should, however, be kept in mind that cryptocurrencies are volatile, and nothing in this article is a piece of financial advice. 

Mar 14, 2025 02:35

SimpleFX Review: What You Need to Know in 2025

Choosing the right trading platform can be challenging, with so many options that vary in security, fees, and regulation. You want a secure, easy-to-use platform that offers a wide range of assets. However, many platforms lack transparency, charge high fees, or lack sufficient regulation, making it difficult to find a trustworthy platform that meets your […]

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Apr 28, 2023 05:35

Zcash vs. Monero | Coin Comparison Review For 2023

While cryptocurrencies continue to be the hype, a newfound interest emerges in private coins. Sure, Bitcoin transactions don't identify personal information, but they aren't completely anonymous because the transaction history is in public view on a blockchain, making it possible for others to reveal people's identities through coin movements and address details. But now, it’s all about the privacy of users. That's where privacy coins that use cryptographic techniques to obscure transaction details and protect users' privacy take the stage. This fascinating technology is maintained by a network of anonymous validators. To put it simply, privacy coins successfully protect confidentiality by concealing the flow of cryptocurrencies across their networks. And if you’re a crypto geek like us, the chances are that you’ve heard of the debate between Zcash and Monero. 

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Connect Portfolio Zcash vs. Monero: What You Need to Know

As two of the largest privacy-focused altcoins on the market, Zcash and Monero protect senders’ and receivers’ anonymity, along with amounts and balances. However, there’s a reason why people choose one over the other. Despite several similarities, both Zcash and Monero have distinct disparities and underlying protocols suited for different purposes. 

Overview of Zcash Zcash homepage

It all started when a professor and two of his students—Matthew Green, Ian Miers, and Christina Garman—at Johns Hopkins University teamed up to create a privacy-focused extension to Bitcoin named Zerocoin. The trio collaborated with other scientists and formed the Zerocoin Electric Coin Company, called the "Zcash Company," but later rebranded to Electric Coin Company (ECC), dropping the "Zerocoin." 

Zcash was launched in 2016 to fix the privacy problems that Bitcoin was facing during that time. Built on the Bitcoin Network, Zcash utilizes cryptography to provide users advanced privacy. The Zcash team made several alterations to the Bitcoin codebase, one of which was adding zero-knowledge proofs to ensure that transactions were carried out by concealing sending and receiving addresses along with the amount transacted. In 2017, the Zcash Foundation was established to create and support financial privacy infrastructure, serving the Zcash blockchain and protocol users. 

Zcash and Anonymous Transactions

Although Zcash is built on the original Bitcoin code, it differs from the Bitcoin Network by applying the zk-SNARKS, a zero-knowledge privacy protocol that lets users remain anonymous. So, while Bitcoin boasts transparent transactions, Zcash is all for anonymous transactions. Unlike Monero (but more on that later), the Zcash network allows users to choose between transparent and shielded transactions, allowing them to complete transparent transactions or make them completely private.

To carry out a shielded transaction, users must send their payments privately. Since privacy is optional with Zcash, users must choose between shielded addresses and transparent addresses. The latter is similar to the ones in the Bitcoin Network, whereas the former makes the transaction details completely anonymous. 

Does Zcash Have a Maximum Supply

As of writing, Zcash boasts a maximum supply of 21 million coins. Out of the total sum of the Zcash coins, 58% are already in circulation, making it a whopping 12,189,000 million. With more activity by the day, the Zcash Network proves to be a healthy one. Users utilize Zcash for several purposes, i.e., to purchase goods, services, or even exchange to Euros, US Dollars, or any other currencies. 

The Zcash team focuses on research and experimentation, which makes the altcoin rewarding for the core team. Developers, investors, and the non-profit Zcash Foundation receive 20% of the block reward. 

Advantages of Zcash

Like every altcoin, Zcash comes with a slew of advantages and some disadvantages, and you get to decide whether or not it's a suitable investment for you. Crypto forecasts predict that things are looking great for Zcash since it’s intriguing new traders to break into the market, as well as established traders looking to expand their horizons. 

Pros

- Zcash coin is easily exchanged for another

- Guaranteed high prices due to the fixed supply of Zcash

- Several levels of anonymity to choose from

- The Zcash blockchain is ASIC resistant 

- A fungible privacy coin

- Good long-term investment due to being currently undervalued

- Highly secure zero-knowledge proof technology 

- Shift from public to private transactions

- A block time of only two and a half minutes.

Cons 

While crypto experts and analysts have predicted a bright future for the coin, it’s always wise to also weigh on the cons before deciding to buy Zcash, just like with other coins. A few of the downsides include:

- Restricted to CPU mining

- Mainly designed for Linux users

- Zero-knowledge proof is not unique to Zcash, meaning other cryptocurrencies could potentially implement it

- A privacy coin could potentially raise suspicion. 

Why You Should Buy Zcash 

Zcash is a promising token launched in 2016. It allows you to make highly secure transactions and has already amassed a whopping $350M market cap. If you wish to build a profitable crypto portfolio, this is an excellent place to start since the market cap will only increase from here. 

Firstly, Zcash's privacy is what's needed for cryptocurrency mass adoption. Zcash is a public blockchain with added privacy aspects designed to remove as much data from public view as possible — something that Bitcoin fails to offer. Zcash solves this problem with zero-knowledge proofs and shielded transactions by giving you total control and ensuring a private transaction despite being based on the Bitcoin protocol. As a result, Zcash attracts European businesses looking for GDPR compliant cryptocurrency payment services.  

Secondly, Zcash’s low transaction costs attract both new and established traders. In perspective, Bitcoin’s and Ethereum’s high transaction costs make small transactions not worth, whereas Zcash guarantees reasonably low transaction fees even in the long run. 

Limited Zcash Coin Supply

Coin supply is yet another factor that puts Zcash in a top-tier position. We all know how it goes— the value is determined by supply and demand. So, with an ever-rising demand, the chances are high that Zcash will boast the same prices as Bitcoin, suggesting it might be the right time to buy Zcash. The long-term Zcash price predictions disclose that the privacy-focused altcoin is expected to reach the $400 mark in 2024, pass the $500 mark in 2026, and skyrocket to almost $800 in 2028. Moreover, Zcash is available on many crypto exchanges, making it easy to buy it and store Zcash securely in digital wallets.  

Overview of Monero Monero homepage

Monero first emerged when the Bytecoin network hardforked in 2014. There was much controversy over Bytecoin—80% of the privacy-focused altcoin had been mined before its release. The pre-mining led to disagreements between the project's developers and the community, which in turn led to the hardforking of Bytecoin as Monero. 

Involving highly sophisticated cryptographic schemes, Monero relies on Proof-of-Work mining to fulfill distributed consensus. Monero runs on an opaque blockchain and hides transaction details to facilitate secure, private, and untraceable transactions. Let’s break it down piece by piece.

Monero and Private Transactions

All the transactions in the Monero network are private by default. Monero utilizes a three-prong strategy to privacy: ring signatures, ring confidential transactions, and stealth addresses. Ring signatures hide the spent outputs to protect a user’s privacy in the input side of a transaction; ring signature transactions, also known as RingCT, hide the amount being sent, and stealth addresses disguise the receiver.

The underlying protocol for Monero is based on CryptoNote, which groups several transactions and uses ring signatures and one-time keys to hide the destination and origin of the transaction. Monero transactions are validated through the Moner network that runs a unique Proof-of-Work consensus algorithm called RandomX. 

The Monero network exclusively deals with the security of users. It utilizes a combination of a sender’s account keys and clubs them with public keys on the blockchain to produce a ring signature, a type of digital signature in which possible signers are merged together to produce a distinctive signature that can authorize a transaction. This makes it virtually impossible to reveal which public keys were used to generate the ring signature. A Monero ring signature is composed of the actual signer, combined with non-signers to form a ring.

Why Monero Implemented Ring Confidential Transactions

Before implementing ring confidential transactions, Monero used to divide the transaction amounts into denominations to make sure that a sufficient number of ring members were found on the Monero network. Nonetheless, complete privacy wasn’t guaranteed since outside parties could see the transacted amount. To solve the issue, Monero implemented ring confidential transactions. 

Monero maintains decentralization by implementing protocol changes to its mining algorithm along with many other features every six months. As for mining Monero, the process is usually made in pools and the cloud. Unlike Zcash, Monero has no maximum supply of coins. 

Advantages of Monero

As a secure, fungible, and untraceable digital currency, Monero ensures the users' complete and total privacy, and just like with Zcash, the future is looking pretty good for the altcoin. Let's look into Monero's pros and cons to help you understand how you can benefit from it. 

Pros

- Stealth addresses

- Ring signatures

- All the transactions are completely private 

- Supported by more than 40 cryptocurrency exchanges

- A block time of only two minutes, making it almost five times faster than that of Bitcoin. 

Cons 

While the abovementioned benefits have resulted in Monero’s rapid growth, there are also certain disadvantages to consider: 

- Dark web marketplaces have started using Monero for transactions instead of Bitcoin

- It's used for fraudulent purposes since it's completely untraceable

- Despite being resistant to ASIC, three mining pools own 3% of the hash rate

- Few crypto wallets support Monero

- Storing Monero is a lot more difficult than other cryptocurrencies, explaining the lack of its broader adoption in the crypto space.

Why You Should Buy Monero

Monero has been growing rapidly since it first launched, and with a market cap of $2.6 billion, users are only increasing by the minute. Algorithm-based forecasts predict a positive outlook, with Monero’s price rising to $702.5 by the time 2027 rolls in. This prediction is supported by several Monero forecasts expecting the altcoin to be valued at $191.33 throughout 2022, around $317 in 2025, and $500 in 2028. In any case, it looks like an uphill climb for Monero. 

Zcash and Monero Transaction Fees

The Zcash average transaction fee is priced at 0.00001 ZEC. You’ll pay the same fee by default for both transparent and anonymous transactions, not having to reimburse for your privacy. Zcash doesn’t allow you to customize and set your own transaction fees. Mining incentivization on the Zcash network is not a problem at all.  

In contrast, Monero transaction costs can come with a hefty price tag since the altcoin shares scalability issues with Bitcoin. At its peak, the cost of sending Monero was recorded to be a little over $20. 

Similarities Between Zcash and Monero

It goes without saying that privacy and security are in the lead when comparing Zcash to Monero. Both altcoins have the initial aim to solve transaction privacy issues, but each of them takes a different approach to the problem.

Monero and Zcash have displayed a similar price pattern since their launch. Monero experienced an upward tendency in late 2016, which skyrocketed in 2017. Around 2018, the all-time high of Monero was around $500 per coin. 

Zcash price was initially pretty steady, but its value started increasing a little after Monero’s in 2017 and was pretty consistent with Bitcoin. Whenever Bitcoin's value dropped, Zcash followed suit. 

Differences Between Zcash and Monero

Along with similarities between Zcash and Monero, two of the most significant privacy coins on the market, there are also vast differences concerning how they maintain users’ privacy while making transactions. Monero Network uses privacy-enhancing technologies to ensure the complete privacy of every transaction and ensure they are entirely anonymous. ZCash is also focused on privacy, allowing users to choose between making shielded or transparent transactions. Monero transactions are private by default, while ZCash transactions are private when users choose them to be such

Another crucial difference is that in contrast to Monero, Zcash is regulatory-friendly because transactions can be sent publicly on the network. This factor influenced crypto exchanges to add Zcash to their servers. Instead, Monero has come under increased scrutiny from regulators.

The two also have different speeds - new blocks are created every two minutes on the Monero network, whereas Zcash’s block time is around two and a half minutes.  

Perhaps the most intriguing distinction between the two is their respective teams. Monero’s team is essentially a mystery — so far, only two of the lead developers are known to the public. Zcash, in contrast, has an open team with some of the biggest names in the crypto and blockchain space serving as advisors. Their contrasting natures — one open to the world and the other hidden from the public eye — are exactly what makes these two of the most exciting projects to keep up with.     

Final Thoughts

Finally, it all comes down to preferences and what you intend to do with the altcoins. Many opt for Monero's unlinkable transactions; others are attracted by Zcash's focus on cryptography research and development. At the end of the day, whether it be Monero, Zcash, or any other altcoin, it’s up to you to decide whether you want to go back and forth between transparent and private transactions or go full-on private.

Remember to acquire a hardware wallet or a software wallet that allows you to keep your private keys and a seed phrase for storage purposes.

And lastly, the best and most effortless way to purchase and store Monero and Zcash is through CoinStats, where you’ll easily manage and track your crypto and DeFi assets on just one platform.

Mar 09, 2023 10:55

CashApp vs Robinhood – Which Is Better for Beginners? 

In this article, we'll dive into the pros and cons of CashApp and Robinhood, helping you figure out which is the better choice.

The post CashApp vs Robinhood – Which Is Better for Beginners?  appeared first on Coindoo.

Feb 09, 2023 07:15

Asking the ChatGPT AI to Predict the Future Price of Bitcoin

It seems that Artificial Intelligence (AI) is the hot topic all over the place now with ChatGPT by OpenAI being one of the most widely used tool at the moment and people are asking the AI chatbot all kinds of questions, including a lot of crypto related ones. So, why not ask what the artificial […]

Feb 03, 2023 07:50

MARS4 Comprehensive Review: Taking a Trip to Mars in 2023

They say everything is possible in the metaverse, even interplanetary travel. So DailyCoin took a trip to Mars with MARS4.

Continue reading MARS4 Comprehensive Review: Taking a Trip to Mars in 2023 at DailyCoin.

Dec 09, 2022 07:50

Tether (USDT): A Giant With Feet of Clay?

Tether ties almost everything in the cryptocurrency market. If it falls, the wreck could disrupt the whole crypto world.

Continue reading Tether (USDT): A Giant With Feet of Clay? at DailyCoin.com.

Dec 06, 2022 07:15

New lolMiner 1.64 For Further Optimized Kaspa (KAS) Mining Performance

The just updated lolMiner 1.64 is a dream come true (more performance with less power used) for everyone that is currently mining Kaspa (KAS) with their Nvidia GPUs, not only because of the further improved performance that the update brings but also because of the new features it gives access to the miner for optimizing […]