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Zcash (ZEC) Up 45% With Gemini Listing and Trading Pairs

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The uncertainty as to whether the privacy aspect of Zcash (ZEC) was an advantage or disadvantage has been forever extinguished with the developments of the last day with respect to the coin. The first of these developments being that the Gemini exchange, that is co-founded by the Winklevoss twins, is now the first licensed Zcash Exchange. The exchange revealed yesterday, that it will open Zcash trading on the platform and pair ZEC against the US Dollar (USD), Bitcoin (BTC) and Ethereum (ETH).

According to Tyler Winklevoss, CEO of Gemini, Zcash picked up on where Bitcoin left off in terms of providing the added privacy much needed on the blockchain ledger.

Also to add is that Gemini is now regulated by the New York State Department of Financial Services (NYDFS). The organization is considered as being one of the most strict in the US cryptocurrency industry. This, in turn, made the Gemini exchange to meticulously carry out due diligence before listing Zcash trading on the platform.

ZEC trading will officially begin today at 9.30 Eastern American Time with deposits being available from Saturday, May 19th.

The above announcement then led Zcash (ZEC) on a rally that has led the coin to increase in value by 45% in 24 hours. ZEC is currently priced at $357 and looks like it will be a matter of time before it regains a spot at the top ten according to coinmarketcap.com. ZEC is currently ranked 23rd in terms of market capitalization and has been the subject of uncertainty, as earlier mentioned, due to the privacy aspect that is a topic of contention amongst financial regulators and lawmakers. They argue that 100% privacy can be misused by rogue individuals who want to commit fraud, money laundering or even other unspeakable crimes.

This concern seems to have been cleared with the ZEC listing on Gemini.

ZCash has also been the coin of noteworthy mentioning by crusaders of privacy and reduced government surveillance. Edward Snowden is one such individual. Snowden has been quoted as saying that Zcash is the only altcoin he knows, for now, that is designed and built by professional and academic cryptographers.

What might happen moving forward, is that ZEC will reclaim its glory amongst the top 10 coins and even maybe reach the much anticipated $1,000 value depending on the daily trade volume that Gemini creates.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of beamaed via Flickr

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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