Zcash Cryptocurrency: Rate, Mining, Prospects for 2018

zcash cryptocurrency

There are many amazing technologies in the cryptocurrency world that improve operating methods, and one of such phenomenal discoveries is the anonymous cryptocurrency Zcash.

Contents:

  1. History of Creation
  2. Zcash Graph: Today’s Rate
  3. How to Create a Zcash Wallet and How Much It Costs
  4. Forecasts and Expert Opinions
  5. Latest Zcash News
  6. Conclusion

1. History of Creation

Although the main concept of the world’s first fully anonymous cryptocurrency was created in 2014 under the Zerocash protocol, Zcash was launched in the October of 2016 by Zerocoin Electric Coin Company.

2. Zcash Graph: Today’s Rate

The cryptocurrency market has recently been characterized by instability, which affects the price of cryptocurrency. Zcash is no exception, and there have been enough price ups and downs throughout its history. In 2017 the value of one coin was about $50. In December of the same year there was a big boom inside the market, which provoked an increase of the rates. Then the price of one coin increased by more than 1000% and was $637.

The beginning of 2018 pleased the holders of Zcash, since its rate jumped to $876 per coin on the 8th of January. Afterwards, there was a drastic drop of prices, during which the rate of ZCash cryptocurrency decreased by half. The cost of Zcash then varied at about $400. At the time of writing, the 8th of June, 2018, the cryptocurrency was ranked 24th in the CoinMarketCap rating, and the price of one coin was $234.

3. How to Create a Zcash Wallet and How Much It Costs

Zcash has wallets of several types, which differ in the way of storage as well as in advantages and disadvantages of use. The most popular among holders of ZEC use online wallets, namely:

  • Jaxx;
  • Cryptonator;
  • Bitpie;
  • Coinomi;
  • HolyTransaction;
  • FreeWallet.

Creating a wallet is simple enough, however, it requires pre-downloading applications.

You can also store ZEC tokens on hardware wallets that resemble flash drives, as they also connect to a PC via a USB port. Trezor and Ledger are engaged in creating such storage facilities. Hardware wallets are characterized by a high level of reliability and security. However, you will have to pay about 200 for your peace of mind.

4. Forecasts and Expert Opinions

Zcash differs from traditional tokens by the first in the cryptocurrency world zero-knowledge proof protocol, that is a “zero-disclosure proof”, which is why companies will be able to use it for anonymous transactions.

It is assumed that the demand for a unique cryptocurrency will provoke an increase in its value. As a result, according to experts, the cost of Zcash will grow several times by the end of 2018. According to forecasts, one coin will most likely be sold for about $500. This is the minimum perspective predicted by some ZEC analysts. Others argue that the price will jump to $2000 this year.

5. Latest Zcash News

These days there is enough news about the anonymous cryptocurrency Zcash in the media. Daily information covers the preparation of a new hard fork or the addition of ZEC to some cryptocurrency exchanges. Also, various statements of experts regarding confidentiality are discussed in the Internet. In fact, according to the amount of news, Zcash is not inferior to other popular cryptocurrencies.

There recently appeared information that the Chinese giant Innosilicon presented ASIC-Miner A9 ZMaster for the mining of Zcash.

6. Conclusion

If you are interested in the question of whether to have a ZEC on your investment portfolio, the answer from The Coin Shark is – it’s definitely worth it. Arsenal of cryptocurrencies should be unlimited in terms of variety of digital coins, however, Zcash must be in it. Experts also recommend buying a couple of tokens, if you have not already done so.

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Cryptocurrency Prices Today, December 14: Cryptocurrencies Are in the Red Zone Again

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 3.4% over the past 24 hours. The price at the time of writing is $3298 per coin.

Cryptocurrencies moved to the red zone:

Bitcoin Cash lost 11.17% over the past 24 hours and costs $82 per coin;

Ripple fell by 1.89% and is $0.29 in price;

EOS minus 4.67%, and its cost is $1.88;

Litecoin decreased by 2.35%, and its price is $23;

Cardano lost 4.17%, and its value is $0.028;

Stellar dropped by 6.46% and costs $0.10;

IOTA minus 4.53%, and its cost is $0.24;

Dash lost 4.67%, and its price is $61;

Monero became cheaper by 1.61% and costs $42.

Over the past 24 hours, Ethereum lost 3.95% and continues to decline. The coin exchange rate is $85, according to Coin 360.

The total market capitalization fell to $104 billion. Bitcoin accounts for 55% of the total volume. In monetary terms, this is $57 billion.

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The Most High-Profile Scam Projects of 2018

The unfortunate fact, that the ICO market is dying. According to the Satis Group data, more than 81% of the market is a dead projects. The ingenuity of crypto fraudsters was the cause of investors lack of confidence.

It is worth talking about the most prominent scams, that might have destroyed ICO in 2018 as a transparent manner of investment.

Ifan and PinCoin – $660 million

This two crypto startups took the first place, just because they are running money scams of Vietnam Modern Tech company.

The founders promised 570% annual investment. Which sounded well for investors. Because everybody want a high income.

It was impossible to resist from Modern Tech offers, because the marketing was brilliant. The project gave a bonus per each engaged investor.

Now we can tell that initially it was an obvious scam. But no, the crypto fraudsters planned everything to a small detail. But in the end, word always gets out. The mass action in front of the Modern Tech office was triggered by the fact that cryptocurrency media began to publish information about the dark deeds of the company. During the mass action, investors demanded a refund.

In the end, 32 thousand of investors were cheated and the founders escaped with $660 million. Ironically, Ifan and PinCoin were guilty, but have not been punished for the crime.

PlexCoin – $15 million

The United States Securities and Exchange Commission (SEC) undertook the scam situation. That’s why it deserves attention.

Scam projects on the ICO market is like an infection which should be treated at the beginning. The PlexCoin was cured before it caused a significant damage.

The creators of PlexCoin promised a great profit for the investors. This project promised 1300% profit per month. “PlexCoin will be the first cryptocurrency by capitalization, which will eliminate Bitcoin”, said creators. This assumption was a trigger for the SEC.

Dominic Lacroix, the creator of this scam, was charged and entailed to legal responsibility  with “willful distortion provided to investors” by French Financial Markets Regulator (AMF). Following the example set by AMF, the SEC filed a complaint and demanded to suspend the ICO.

During the investigation of the project it was suspended by a lawsuit. Without accepting the restrictions and continuing the sale of fake project tokens, Lacroix was fined $10 000 and deprived of his liberty for a two months.

PlexCoin has earned about $15 million. Ironically, the fraudsters were fined $100 thousand.

BitConnect – presumably, several millions

This is a fine example of fraud field. For two years, it was pulling out the money from gullible investors. BitConnect was launched in 2016 at the peak of hype.

The point of deception was simple: “Invest more – gain even more”. They promised that if they don’t withdraw the funds for 120 days then the profit will be 365%.

Due to the fact that in December 2017 the cost of the BitConnect token was $463, the states of Texas and North Carolina have turned their attention to it. They made the accusation due to unregistered distribution of securities. This reduced the price of the token by 90% and became $ 5.92 per coin.

But, after 2 years of existence, in January, the project disappeared from all the exchanges, and investors were left with nothing,according to the preliminary estimates, they have lost several million dollars. And of course they filed a class action amounting to $700 thousand.

Divyesh Darji managed project from Surat, India and was arrested in the summer of 2018 during the investigation.

Benebit – from about $3 to $4 million

The criminal schemes of Benebit for the ICO market were just perfect, unlike the projects presented above. Everything was at a high level, the project held top places in ratings, there was high activity in social networks, the PR manager did a titanic job. The Benebit activity was brilliant.

But they were revealed by smallest detail. It was because of  photos which they took from the school site, which were noticed by an unknown person. After this all got out, the creators turned off the site, accounts and went into hiding.

During the investigation nobody would think about verification of the authenticity of documents. It turned out that the passport data used by the promoters for work was fake. Another outstanding problem is the rating: how did he get such high marks and who did let that happen?

Conclusion

This is TOP scam projects which should become a lesson to investors. They made a list of “finest scam of 2018” by The Coin Shark, only for the uniqueness of fraud methods.

For example, in ICO Ifan, PinCoin and PlexCoin the investors were attracted with high profit. They were so blind that they did not notice the warnings of the experts.

PlexCoin was the first scam, in which the SEC interfered. As for PinCoin and Ifan they are extraordinary. Since the creators have been found, but not punished.

Benebit startup was unique by the fact that $500 thousand were invested in it under the guise of professional marketing. On the example of this project, we can see the gaps in the system of regulation of IСO.

BitConnect surprised us by the fact, that its financial pyramid was so obvious that it allowed to hide in plain sight. This is a good example of aggressive marketing and the greed of investors in getting money.

In fact, man’s recklessness is the root of the absence of confidence problem to ICO and not such projects. Everyone thinks that this will not happen to himself. But it will, if you are not reasonable and do not check the information about the project in which you intend to invest.

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Saudi Arabia and United Arab Emirates Will Release a Joint Cryptocurrency

As reported by the local news media, the Saudi Arabian Monetary Authority is cooperating with the Central Bank of UAE in order to develop their own blockchain, which will be the basis for the joint digital coin. The new currency will be used for cross-border transactions between these two states.

This is probably the first time ever that witnesses the cooperation of monetary authorities from different countries on this topic and we hope that this achievement will foster similar collaboration in our region,” said an Abu Dhabi official.

The cooperation is currently ongoing, no specific dates as to when the development will be finished have not been released so far. The innovations in the financial sector will involve only banks and institutional investors, not the regular customers.

We remind you:

Ripple Technology Will Soon Be Implemented in the Biggest Bank of Saudi Arabia

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Cryptocurrency Prices Today, December 13: BTC and Other Cryptocurrencies Remain Stable

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) remained stable over the past 24 hours and slightly increased in price – by 0.2%. The price at the time of writing is $3415 per coin.

Cryptocurrencies changed in price very slightly:

Bitcoin Cash lost 2% over the past 24 hours and costs $96 per coin;

Ripple dropped by 0.78% and is $0.30 in price;

EOS added 1.91%, and its price is $2.01;

Litecoin minus 2.04%, and its cost is $24;

Cardano grew by 0.06%, and its value is $0.030;

Stellar lost 1.81% and costs $0.11;

IOTA dropped by 0.53%, and its cost is $0.24;

Dash fell by 1.06%, and its price is $65;

Monero decreased by 2.06%, and its rate is $43.

Over the past 24 hours, Ethereum lost 0.56%. The coin price is $90, according to Coin 360.

The total market capitalization is $109 billion. Bitcoin accounts for 54.9% of the total volume. In monetary terms, it is $59 billion.

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How Is a Schoolboy Millionaire Doing: A Story About the Youngest Bitcoin Richer

Erik Finman’s life is like a dream. He is the youngest Bitcoin millionaire in the world. His digital wallet stores more than 400 BTC, which at the rate of $20 thousand per one coin was equal to $8 million.

From a schoolboy to a Bitcoin Millionaire

The story of Erik Finman began in 2011, when he was 12 years old. Young man received from his grandmother $1 thousand for college. However, the guy decided to invest them not in education, but in Bitcoin. He was confident that the digital currency has a great future and therefore he will have it, if he buys BTC. A schoolboy purchased Bitcoin on all the money that his grandmother gave him, with the rate of $12 per one coin.

The first million Erik earned at 15 years. Before that, the future millionaire, argued with his parents that he would not go to college if he earned his first million before the age of 18. When the Bitcoin rate first increased in the summer of 2017, Finman became a millionaire. After that, he went into business.

In 2013, Erik’s capital was valued at more than $100 thousand. This fortune pushed the guy to drop out from high school, in order to start his own business. Moreover, the young man was convinced that the secondary school provides with low-quality education.

“I had these teachers that were all kind of negative. One teacher told me to drop out and work at McDonald’s because that was all I would amount to for the rest of my life. I guess I did the dropout part.”  – said Erik in CNBC interview.

The young entrepreneur founded his own online educational platform Botangle, which helped the young people to find suitable teachers for class via video chat sessions.

January 2015 has been a remarkable for the guy. He sold Botangle for 300 BTC, whose rate at that time was $ 200 per coin. The buyer also offered the guy $100 thousand in exchange for the business. However, Erik was convinced that it was much more promising to make a deal with cryptocurrency.

“My parents asked ‘Why don’t you take the more cash? But I thought of it more of an investment.” –  Finman explained.

You may ask, what’s the catch? And the catch really is. After all, the guy for $100 thousand could buy 500 BTC instead of 300 BTC. But he chose cryptocurrency, because the official transaction is accompanied by certain difficulties with which, the underage wouldn’t not cope.

Today, December 2018, Erik has about 400 BTC at his disposal, and the Bitcoin rate varies within $4,000 per coin. That is, Erik’s fortune does not exceed $2 million. Despite the fact that experts like Warren Buffett are confident that the cryptocurrency is a bubble that is about to burst, the young man says:

“Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin”

Some believe that the young millionaire suffers from paranoid syndrome. After an increase of popularity and capital, Erik is obsessed with the security of his assets. For example, he divides his capital into various super secured wallets.

Bitcoin millionaire lifestyle

Erik bought a house in West Hollywood, where he neighbors with young YouTube stars and IT elites. Well, and as usual it happens, the guy had his head turned by his fortune. The first evidence that Finman “went off the rails” was the reusable rental of Lamborghini sports cars.

The insanity did not last long. During this dizzying period, the guy did not insert the diamond teeth, did not fill the wardrobe to the full with clothing. By the way it is half empty. The millionaire dresses very inconspicuously: T-shirts, shorts and jeans.

Erik hated the school so much, that when he bought a car, it was indicative that he chose a number with his average grade of school certificate – 2.1GPA.

All of Erik’s relatives have a higher education, so they really want their children to get a higher education. But, a bet’s a bet,and besides, the guy is not going to college under any circumstances:

“The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people.” – said Erik. “The way the education system is structured now, I wouldn’t recommend it,It doesn’t work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube and Wikipedia.”

The young millionaire eats at Polo Lounge, In-N-Out Burger and other restaurants, depending on his mood. In his free time from work, the guy travels. He likes to have a rest on distant continents, especially Dubai.

Source: https://www.inverse.com

Now Finman is in charge of managing his own and family Bitcoin investments.

The young millionaire’s view of the future of cryptocurrency

The world’s first cryptocurrency by capitalization is not the only digital currency that makes up the capital of the millionaire. Litecoin and Ethereum are also in reserve.

If the young man believes in the future of Bitcoin, the future of Vitalik Buterin’s creation he doubts though. Erik believes that Ethereum’s growth depends on speculation on the crypto market.

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Cryptocurrency Prices Today, December 12: Cryptocurrencies Are Relatively Stable

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) remained stable over the past 24 hours. The price at the time of writing is $3412 per coin.

Cryptocurrencies are both in the red and in the green zone:

Bitcoin Cash lost 4% over the past 24 hours and costs $95 per coin;

Ripple added 0.52% and costs $0.30;

EOS grew by 0.04%, and its price is $1.91;

Litecoin dropped by 0.91%, and its rate is $24;

Cardano increased by 0.32%, and its value is $0.029;

Stellar lost 2.76% and costs $0.11;

IOTA fell by 7.31%, and its cost is $0.24;

Dash decreased by 4.83%, and its price is $65;

Monero became cheaper by 1.40% and costs $43.

Over the past 24 hours, Ethereum lost 1.59%. The coin rate is $89, according to Coin 360.

The total market capitalization is $109 billion. Bitcoin accounts for 54.9% of the total volume. In monetary terms, it is $60 billion.

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