How to Convert ZEC to USDT
In this digital, modern era, privacy is one of the most significant concerns for many people. Some cryptocurrencies like Zcash solve this problem by allowing consumers to purchase online while maintaining anonymity. The crypto uses innovative cryptography, enabling receivers and senders to transact anonymously. ZEC/USDT is a highly liquid trading pair, meaning prices can change quickly for large trading volumes and this can impact other pairs. Rubix offers precise and real-time data to help consumers weigh cryptocurrency asset prices and make better trading decisions.
About ZEC & USDT
What is Zcash?
The inception of Zcash was in 2016 after a scientist group collaborated to design crypto similar to Bitcoin but added more features. They created the Zcash project focused on improved user anonymity and security. It started out as Zerocoin, which became Zerocash soon after its release. Later, they renamed the cryptocurrency Zcash.
The scientists included Madars Virza, Eran Tromer, Ian Miers, Matthew Green, Christina German, Alessandro Chiesa, and Eli Ben-Sasson. They believed Bitcoin blockchain transactions had security flaws. The scientists’ first idea came in 2015 when they developed the Zerocoin Electric Coin Company. They rebranded it to the Electric Coin Company in 2016.
Zcash ensures the transacting parties get verified while hiding their information from the network or other consumers. The cryptocurrency uses Zk-Shark to shield the sender or receiver and encrypt the amount. ZCash is different from other cryptocurrencies like Ethereum and Bitcoin, as it does not reveal current holdings or financial history during transactions.
The maximum Zcash coin supply is $21 million, and mining occurs through a PoW Equihash algorithm. Experts expect that mining all the coins will be completed by 2032. The Zcash network provides its services through dual key arrangement reliance. These are essential for sharing information without revealing everything and for audit purposes.
The Zcash Foundation constantly tries to find ways to enhance the digital currency’s protocol. They can achieve this by incorporating existing technologies from other blockchain projects or original development. The cryptocurrency uses two address types, including:
- Transparent addresses: Monitoring happens on the Zcash blockchain, similar to Bitcoin transactions.
- Shielded addresses: Z-addresses involve encryption, meaning you won’t see the blockchain data. The funds and the transactions sent through shielded addresses are not accessible.
What is Tether?
Tether is one of the popular stablecoins pegged to the U.S. dollar. The Hong Kong-registered company iFinex owns Tether and launched the cryptocurrency in July 2014 as RealCoin. In November 2014, iFinex rebranded the digital coin into Tether. In February 2015, Tether was up for trading. Today, the stablecoin supports several blockchains. These include Bitcoin Cash (SLP), OMG Network, Solana, Algorand, EOS, TRON, and Ethereum.
Tether stands as the third largest crypto after Bitcoin and Ethereum as of May 2022. Its market capitalization stood at approximately $83 billion, making it the largest stablecoin. The fast-growing cryptocurrency focuses on keeping its token prices stable to 1:1 ratio with USD through backing with a traditional currency. Due to their popularity and rapid growth, decentralized finance (DeFi) staking and lending protocols now use this stablecoin as collateral. Acquiring Tether is easy since it is available in most crypto exchanges.
Convert ZEC to USDT using Rubix
Rubix offers cutting-edge trading tools to ensure acquiring USDT is straightforward. This is not only for ZEC trading, since it supports most established cryptocurrencies for a stress-free exchange.
Traders can also exchange ZEC for fiat currencies, including Euro and the U.S. Dollar. Rubix is one of the most intuitive crypto platforms for cryptocurrency asset management with minimal hassles. Whether you are trading, sending funds, or paying for products, Rubix ensures secure transactions to help consumers meet their goals. Create your account today and start exchanging ZEC via Rubix hassle-free.