Although Zcash (ZEC) is one of the 50 biggest cryptocurrencies, it isn’t available in as many places as you might expect in the UK.
Given that, where’s the best place to buy Zcash (ZEC) in the UK in 2021?
In this short guide, I’ll quickly summarise your options and then outline how to buy Zcash (ZEC) without getting ripped off.
Quick Version: How to Buy ZEC in the UK
Don’t have time for the full story?
Here are the best places that I’ve found to buy Zcash (ZEC) in the UK.
|Provider||Payment Method||Fees (Approx.)|
|Kraken||UK Bank Transfer||< 1%|
|Binance||UK Bank Transfer||< 1%|
|Bitpanda||SEPA Bank Transfer, Credit/Debit Card, & More||1.5%+|
|eToro*||UK Bank Transfer, Credit/Debit Card, PayPal, & More||3.5%+|
|Cryptomate||UK Bank Transfer||Varies|
Click the links in the table above to head straight over there or read on for more information on how you can buy Zcash (ZEC) in the UK.
How to Buy Zcash (ZEC) in the UK
Binance looks like it’s currently the cheapest place to buy Zcash (ZEC) in the UK.
I prefer to use Kraken, but Binance has slightly lower trading fees.
|Platform||Maker Fees||Taker Fees|
|Binance||Up to 0.1%||Up to 0.1%|
|Kraken||Up to 0.16%||Up to 0.26%|
When I checked, Binance also appeared to have a significantly higher trading volume for Zcash (ZEC) than Kraken.
|Platform & Trading Pair||Volume Snapshot (24hr)|
|Binance (ZEC/USDT)||> $22 million|
|Kraken (ZEC/USD)||< $1 million|
You can’t buy Zcash (ZEC) with GBP on Binance, but you can buy it with numerous cryptocurrencies. This includes:
- Tether (USDT)
- Binance USD (BUSD)
- USD Coin (USDC)
- Binance Coin (BNB)
- Ethereum (ETH)
- Bitcoin (BTC)
The price differs very slightly depending on which cryptocurrency you choose to buy Zcash (ZEC) with. However, the prices you’re quoted will usually be close to the real exchange rate (i.e., there are no hidden fees).
Once you get the hang of it, Binance is a low-cost way to buy and sell more than 250 cryptocurrencies (which includes many of the most popular ones).
Head over to the website and check it out yourself. You can have a look around without making an account.Binance WebsiteBinance Review
If you’re looking for somewhere that’s a bit more straightforward than Binance or Kraken, then eToro* is an alternative you could check out.
Depending on what you’re buying, there’s a hidden fee that you’ll pay whenever you buy or sell that cryptocurrency. This is 3.5% for Zcash (ZEC), but is just 0.75% for Bitcoin (BTC) and 1.9% for Ethereum (ETH).
While this isn’t great, eToro is much easier to use than a cryptocurrency exchange and supports payment methods that aren’t supported by other places (e.g., PayPal).
Contrary to what some think, it’s possible to withdraw cryptocurrency from eToro (in the UK and some other countries). If you’re intending to do this, this article notes that you should use a wire transfer (instant) or online banking (7-day delay). If you use other payment methods, it seems that you’ll be temporarily restricted from withdrawing your coins. Check out this and this for more information.
eToro isn’t an obvious choice for buying cryptocurrency and it sounds complicated, but it might be worth checking out if you don’t want to use a cryptocurrency exchange like Binance.eToro Website*
Cryptoassets are volatile instruments which can fluctuate widely in a very short time frame and, therefore, are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and, therefore, is not supervised by any EU regulatory framework. Your capital is at risk.
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