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Zcash (ZEC)

What is Zcash?​

Here are 5 key points about the Zcash Blockchain:

  • Zcash is a hard fork of Bitcoin's codebase, inheriting its Proof-of-Work (PoW) consensus mechanism but enhanced with Equihash, a memory-hard algorithm designed to resist ASIC mining and promote decentralization by favoring GPU miners.

  • The protocol uses zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge), a form of zero-knowledge proof that enables shielded transactions to validate correctness (e.g., input/output balance) without revealing sender, receiver, or amount details.

  • Zcash supports two address types: transparent (t-addresses) for public, Bitcoin-like transactions, and shielded (z-addresses) for private ones, allowing four transaction variants including shielding (t-to-z) and deshielding (z-to-t) for selective privacy.

  • Network upgrades such as Sapling (2018) improved shielded transaction efficiency and usability, while later ones like Orchard (2022) introduced programmable privacy pools and enhanced security against potential vulnerabilities in zk-SNARK parameters.

  • There will only ever be 21 million Zcash that will exist, which makes it different from regular money that can be printed endlessly.

tip

Learn more about Zcash by reading the Gem Wallet Learn article:
What Is The Zcash Blockchain?

Zcash is Fully Supported by Gem Wallet​

Gem Wallet has full support for Zcash. As soon as you setup a new Multi-coin wallet, you will get your own Zcash address.

Gem Wallet can be used to:

  • Buy Zcash (ZEC) with fiat using debit/credit cards*. (Will be added soon.)*
  • Receive Zcash via transparent or shielded addresses*.(Will be added soon.)*
  • Send Zcash to any Zcash wallet.
  • Swap Zcash to another crypto via Cross-Chain Swap.

Zcash on Gem Wallet Zcash Price Gem Wallet

How to Add a Zcash Wallet?​

To activate your Zcash wallet in Gem Wallet:

  • Tap on the magnifying glass on the upper right corner.
  • Search for “Zcash” or “ZEC”.
  • Tap on Zcash (ZEC).
  • Choose “Pin” to keep it easily accessible, or simply tap “Add Wallet” to enable it.

Your ZEC wallet will now appear in the main wallet screen, ready for sending, receiving, and swapping.

Search for Zcash on Gem Wallet Add Zcash Wallet

How to Receive Zcash with Gem Wallet?​

Here are some ways to acquire some Zcash:

  • Buy Zcash (ZEC) directly on the Gem Wallet app*. (Will be added soon.)*

  • Receive Zcash with the unique Zcash address on the Gem Wallet app.

Receive Zcash with Gem Wallet ZEC Receive Transaction on Gem Wallet

How to Send Zcash with Gem Wallet?​

Tap on Send, then input the Recipient Address manually or use the QR Code Scanner. Next, set the amount of Zcash you want to send.

Input Recipient Zcash Address Input Zcash Amount

When sending Zcash, ensure you have sufficient ZEC in your wallet to cover the network fees. Adjust the Network Fee based on your desired transaction speed. Once ready, Confirm the transaction.

Can I Swap Zcash on Gem Wallet?​

You can seamlessly swap Zcash for any cryptocurrency supported by cross-chain swaps, and vice versa, allowing flexible conversions between Zcash and other compatible cryptocurrencies.

Swap Zcash to Solana with Gem Wallet Swap Solana to Zcash with Gem Wallet

Transaction Fees on the Zcash Blockchain​

The fees on Zcash are summarized as follows:

  • Paying a higher fee for your transaction increase the chance of it to be processed quickly.
  • Paying a lower fee could cause your transaction to take longer.
  • Fees vary depending on network demand and the size of the transaction.
tip

You can check the current transaction fees on Zcash by going to this site, Blockchair which is also a ZEC Blockchain explorer. Fees can be adjusted by tapping "Network Fee" and selecting your preferred option.

How to Check Zcash Balance?​

Gem Wallet app connects to the ZEC blockchain to show the ZEC balance on your wallet. Tap on the 3 dots then tap on View address on Blockchair.

Zcash Balance on Gem Wallet View Address on Blockchair

tip

Blockchair is the default ZEC explorer of Gem Wallet. You can manually check balances and transactions by going to Blockchair and search for your ZEC address.

You can review your transactions in the Zcash transaction history and view them on the blockchain explorer for more detailed information.

Why Choose Gem Wallet for Zcash?​

  • User-Friendly Interface: Gem Wallet’s intuitive design makes managing Zcash (ZEC) seamless for both beginners and experienced users, with easy navigation for sending, receiving, and swapping.
  • Enhanced Security: As a self-custodial wallet, Gem Wallet ensures you retain full control over your Zcash and private keys, with open-source code and biometric authentication for robust protection.
  • Continuous Innovation: Regular updates introduce new features and optimize performance, keeping Gem Wallet at the forefront of Zcash management and DeFi integration.

Conclusion​

Zcash (ZEC), the privacy-focused cryptocurrency, offers decentralized, secure, and optional anonymous transactions. With Gem Wallet’s support for Zcash, users can effortlessly manage their ZEC, engage in cross-chain swaps, and explore Web3 applications. Gem Wallet is your trusted partner for navigating the Zcash ecosystem.