Zcash is a cryptocurrency that gives you the opportunity to maintain complete privacy in your transactions. Most cryptocurrencies, like Bitcoin, display all transactions transparently in their blockchain network. That is not the case with ZEC. Zcash gambling sites were subsequently a natural development, as most bettors value their privacy highly. ZEC is not a popular choice like Bitcoin or Ethereum, but still manages to maintain a loyal user base. The benefits of Zcash gambling are far too significant to ignore, especially if you like to bet under the radar.
Top Zcash Betting Sites for 2022
Despite the lucrative use case of Zcash in gambling, there are not many bookies that accept it. One should also be wary of shady brands that appear on the scene from time to time. We recommend using the tested and approved Zcash betting sites below. They rank highly in transaction speed, low fees and of course, enhanced privacy.
Why choose Zcash for Betting
As we have already mentioned, Zcash’s forte is the fact that it can conceal most information of a transaction. We will discuss the details of this interesting feature later on. Apart from that, it offers the relative speed and low fees found in most cryptocurrencies. Keep in mind that most Zcash gambling sites convert your ZEC deposit in a traditional (FIAT) currency on the spot, so be mindful of the conversion rate. On the other hand, there are some brands that let you retain your balance in Zcash, so you can use it for price speculation due to its volatility.
Strong Points of Zcash Gambling
The increasing number of local regulations and geographical restrictions is a fact that concerns most bettors that like to have many options available. From this point of view, transaction privacy might be one of the most important factors someone will look up to in the near future. If that is the case, Zcash will be one of the top picks. This choice comes with the added benefit of low fees and satisfactory transaction speed.
✔ Increased Privacy
Zcash uses a cryptographic technology called ‘zero-knowledge proofs’ (zk-SNARKS). This process allows transactions to be settled, without the two sides disclosing each other’s real addresses. Keep in mind that this is optional, and you may also proceed with public payments, which can be traced normally in the coin’s network.
Due to the transparent blockchain technology that most cryptocurrencies use, the transaction history of a coin is traceable. There have been many cases where payments did not go through as merchants detected that the funds were used in the past for illegal activities. That means that you can face difficulties even if you did not directly participate in them. Zcash makes each coin equal, eliminating this issue.
✔ 100% acceptance rate
As an added benefit to the coin’s fungibility, Zcash gambling benefits you with no possibility of failed deposits. This characteristic makes it particularly beneficial for live-betting. Top up your account without any unpleasant surprises, maintaining your ease of mind.
✔ No mediator between transactions
As with all cryptocurrencies, deposits and withdrawals are strictly between you and the bookmaker. The decentralized blockchain network which validates the transactions is neutral and fair. There is no chance of blocked funds due to a third-party audit.
✔ High Transaction Speed
While Zcash does not hold any record in transaction speed in comparison to other cryptocurrencies, it surely is speedier than most traditional methods, especially in the withdrawal part. The settlement time depends on the coin’s network congestion, but it usually occurs within a few minutes after the payment confirmation. Say goodbye to 3-5 business days waiting time for winnings.
✔ Low fees
Zcash holds the exact fee of 0.0001 ZEC per transaction. Based on the current price (as of 20/05/2021) it is just 0,017$. They can be considered almost free of charge, which is always a nice thing to have.
Zcash Betting Negatives
It is commonly accepted that the crypto world is at the first glance a bit hard to understand and fully comprehend. The volatility of most coins also deters many bettors to convert a part of their bankroll to cryptocurrencies. Most players want to bet and have fun, not look at complex terms and weird charts. Moreover, apart from carrying over the downsides of most cryptocurrencies, ZEC is also a quite obscure coin. The number of people utilizing Zcash is quite small.
❌ Limited Popularity
Sadly there are not many bookmakers around that accept ZEC. An important factor that led to the diminished popularity of Zcash is the other privacy-focused cryptocurrency, Monero (XMR). XMR established itself as the leading choice when it comes to privacy in transactions. The available selection of Zcash gambling sites will be quite limited.
❌ Offshore Licensing
You should tread carefully when choosing a Zcash betting site as almost all crypto-friendly bookies hold offshore licenses. A dispute may lead to a difficult situation. There are also outright scammers around, so keep that in mind. We suggest selecting our approved selections to be on the safe side.
Crypto portfolios are prone to fluctuations each day. That is no different if you keep a part of your bankroll in Zcash. You can always take the risk and double gamble this way, otherwise it would be better to convert to a FIAT currency or a stable cryptocurrency.[caption id="attachment_66811" align="d-block mx-auto" width="600"] Zcash's volatility from 5/20 to 5/21[/caption]
❌ No Available Support
The negative side of no third-party between you and the Zcash Sportsbook. In cryptocurrency transactions you stand alone. If you digit a wrong wallet address consider your funds lost. Chargebacks are not available either. Double-check your payments beforehand and keep your passwords safe & secure.
Basics of Zcash Gambling
Let’s dive deeper into the underlying fundamentals of ZEC. Its privacy-focused characteristics are quite interesting and Zcash’s future might be bright. While currently not quite as popular as other cryptos, Zcash gambling has a very valid use-case and may give a useful edge to smart bettors. It is also important to learn about its main antagonist, Monero. We will also show you how to acquire ZEC for your betting activity.
The technology of Zcash
Zcash is similar to Bitcoin with added-in features for privacy. It is a proof-of-work decentralized blockchain network that gives the option to fully encrypt transactions between two parties. Zcash offers both transparent addresses (t-address) and private addresses (z-address). The two kinds of addresses are interoperable as funds can be transferred between z-addresses and t-addresses. The cryptographic technology used to encrypt shielded transactions is known as zero-knowledge proofs (zk-SNARKs).
Transactions between transparent addresses are available for everyone to see on the Zcash blockchain network, as in most other cryptocurrencies. Transactions with shielded addresses hide the addresses, amount, and their contents. Keep in mind that Zcash gambling sites give you transparent addresses to deposit funds to. Still, you will have more privacy compared to other cryptocurrencies if you make the payment via a shielded address, as your details will stay hidden. If KYC documents are not requested by the operator, you maintain your full anonymity.
Zcash vs Bitcoin
Zcash is based on Bitcoin, as it was initially forked from its protocol. However, while personal addresses in Bitcoin are ‘pseudonymous’, Zcash’s shielded addresses are fully private. If someone manages to connect a Bitcoin address with your name, your transaction data will be compromised. That can not happen with Zcash as the transactions done with shielded addresses are not transparent in its blockchain.
Zcash vs Monero
Zcash and Monero have completely different underlying cryptographic technologies. Monero uses ring signatures instead of zk-SNARKs. There are various debates on which of the two is more effective at hiding data but rest assured that both of them are safe to use. Other than that, Monero holds a bit faster transaction speeds, but higher fees too. The main difference that interests a basic user is that Monero is more popular than Zcash, and more merchants accept it as a payment method.
Start Betting with Zcash
The low popularity of Zcash is not an important hindrance, as it is available for trading in all reputable exchanges. If you decide you no longer want to use it, you can just exchange it with another crypto coin or FIAT currency for just a small fee. Setting up a personal Zcash wallet will be the first step, and starting an account at an exchange the second. Finally, you will have to find a bookie that suits your betting needs. You will see that Zcash gambling will be just as easy as any other currency, crypto or not.
Set Up a Zcash Wallet
It is important to make transactions with bookies from your personal wallet, as exchanges may freeze your account if you directly deal with gambling sites. Exchange wallets do not provide the shielded addresses too, ZEC’s strongest asset. There are different wallet options but we recommend checking Zcash’s official website to avoid possible scams.
Where to Buy Zcash
Most reputable exchanges offer Zcash trading. We recommend FTX, Kraken and Binance as they are some of the bigger names in the field. Log in to their website and open an account. There you can buy Zcash via debit card, bank transfer and other methods. After completing this step, send your newly acquired ZEC to your personal Zcash wallet.
How to Deposit to a Zcash Sportsbook
After opening an account in the bookie of your choice, click the deposit button. Select Zcash as a payment option. A complex combination of characters will appear. That’s the bookie’s ZEC wallet address. Keep in mind that it will probably be a non-shielded address. Before sending the desired amount to that address, you will have to choose the encrypted method if you wish to keep the deposit fully private. The wallet’s app will guide you through this process.
How to Withdraw from a Zcash Betting Site
When the time comes for a withdrawal, go to the cashier menu and choose Zcash as the withdrawal method. You will be asked to write your wallet’s address. Remember that you will have to provide the shielded z-address to keep the transaction out of ZEC’s transparent blockchain. With this done, you can then send the Zcash amount from your wallet to the exchange. There you can trade it with other cryptocurrencies or FIAT currencies. To fully cash out your winnings you will have to exchange ZEC with your local currency and then ask for a bank transfer. To avoid dealing with banks altogether, most exchanges issue their own debit cards. You can use your funds right away.
Is Zcash Gambling Safe & Legal
Transactions with Zcash are fully secure. If the typed-in address to send funds to is correct, the receiver will get them no matter what. That applies to both shielded and transparent addresses. Non-shielded transactions can also be searched on the blockchain, so no one can dispute them. There is also the possibility to selectively disclose data from shielded transactions via the use of private keys (passwords). Of course, fully encrypted transactions may attract illegal activities, but Zcash is not restricted anywhere.
Consider them as legal as any other cryptocurrency. Be mindful though, even with advanced encryption in play, if you raise enough suspicions the transactions can be traced back to you. It will be very difficult, but not impossible. A bookie may also always ask for a KYC process, compromising your anonymity. Zcash gambling stretches privacy to the max, but it still can not offer 100% of it. Last but not least, you should be aware of future regulations that might come into play regarding cryptocurrencies in general.
New Zcash Bookmakers you can try out
Zcash could not be missing out from the growing number of crypto-friendly bookies. Newcomers usually offer the best welcome deals in order to attract new players. Limited geographical restrictions, fast transactions and low fees are also on the menu. Check the sites below if you like to keep your betting activity comfortably under the radar.
Is Zcash Sports Betting Worth it
In the course of the last few years, more and more brands are adding cryptocurrencies as payment methods. It comes as no surprise, as this technology solves many issues that may hinder a players gambling activity. Apart from that, the cost of processing crypto payments is way lower than traditional ones. In this way a bookie can direct more funds to other parts of his operation. This usually translates into enhanced offers and higher payout, as well as an overall smoother user experience.
I fully understand someone’s hesitation into joining the crypto-world. The processes involved are not yet very user-friendly, and the high fluctuation in each coin’s value is not optimal for betting. However, I firmly believe that a bettor that seeks to gain as much edge as possible can not miss out on this. Zcash gambling especially is an excellent deal, as it brings privacy protection to a whole new level. You should absolutely try it out if you value anonymity, low fees and fast transactions. As always in crypto, do your research and keep yourself informed.
Zcash is an open-source, proof-of-work decentralized blockchain cryptocurrency. The abbreviation is ZEC. Zcash provides the option to fully shield your transactions, in order to protect your privacy. The encryption technology that makes it possible is called zero-knowledge proofs (zk-SNARKs).
In zcash there are two kinds of wallet addresses, transparent ones and shielded ones. These two different types are interoperable. The details of the encrypted addresses are available only to its owner. So, Zcash transactions can be fully anonymous if you choose to.
Most exchanges offer Zcash trading, so it will not be hard to obtain. We suggest checking Zcash’s official website as you can always find the up to date list. Be wary of scams.
Zcash was initially structured on Bitcoin’s code. You could say that its base is identical to Bitcoin. However, its creators wanted to focus on transaction privacy, in contrast to Bitcoin’s transparent blockchain. So they implemented cryptographic technology (zk-SNARKs) in order to achieve it.
A hard choice for sure. Without getting too technical, these two cryptocurrencies hold completely different cryptographic protocols in order to guarantee privacy for their users. The discussion on which one of them is better is up for debate, so there is not a clear answer. The important thing to know is that Monero is more popular and you will find more merchants that accept it.
One should have a crystal-ball in order to predict the future of a cryptocurrency. The fact is that Zcash’s developers are still active, so there might be interesting news ahead. As for its value, it currently follows the market trends, as most alt-coins do. If you are interested in its use-case go for it, as it is not riskier than the majority of other cryptocurrencies.
Yes, it is a valid choice for gambling. Just be aware that even with the huge privacy advantage it holds, your details might still be found if you start acting suspiciously. KYC checks from bookies are also a possible risk. Of course, be sure to follow the developments of the crypto space as each day brings forth something new.