The majority of people assume using cryptocurrencies will make you automatically anonymous. However, this is just a misconception. The majority of cryptocurrencies are traceable. This is because of the way cryptocurrency is designed. The blockchain is like a public ledger. If someone links your real-world identity to cryptocurrencies’ address, all transactions you have conducted so far can be tracked.
Although there are so many advantages to using cryptocurrency over fiat, privacy is not one of them. But, do not be disappointed. There are few cryptocurrencies specifically designed to protect user’s privacy. They are the privacy coins. Zcash (ZEC) is one of the top privacy coins available today.
Zcash (ZEC) is similar to Bitcoin in many ways. In fact, Zcash was created as a fork of Bitcoin. But, unlike Bitcoin, Zcash (ZEC) offers total privacy to its users.
Now, if you want to own some Zcash, there are few ways to do it. The easiest way to do it is by using a cryptocurrency exchange like CEX. Unfortunately, buying from these exchanges means you are going to provide personal information like name, email address, government ID, etc.
Fortunately, there are still ways to buy Zcash (ZEC) anonymously. Here are some of the best ways to buy Zcash (ZEC) anonymously:
1) Buy Zcash (ZEC) with Cryptocurrencies
There are some services that allow peer-to-peer buying of cryptocurrencies. You can buy cryptocurrencies anonymously using them. As of now, there is no peer-to-peer exchange for Zcash, but you can use other peer-to-peer exchanges and later convert to Zcash. Some of the well-known peer-to-peer exchanges include:
LocalBitcoin – Bitcoin P2P Exchange
Local.bitcoin.com – Bitcoin Cash P2P Exchange
LocalCryptos – Ethereum P2P Exchange
LocalMonero – Monero P2P Exchange
Paxful – Bitcoin P2P Exchange
All exchanges mentioned above support multiple payment methods. Not all payment methods supported by these exchanges are anonymous. The way to buy anonymously using them is to select “Cash in Person” as the payment method. Although it is not completely anonymous as you still meet the seller in person.
The other way is to use “Gift Card” as payment method. Egift codes are even better. You can easily buy Egift codes anonymously using Gyft. You can even buy gift card codes using cryptocurrency at Gyft. Once you’ve obtained gift cards, sell on peer-to-peer exchanges listed above.
Now to obtain Zcash, you must convert cryptocurrencies you’ve earned to Zcash. For this, you must select an exchange that does not require personal information. Some of these exchanges include:
Once you’ve successfully swapped cryptocurrencies to Zcash, withdraw it to your Zcash wallet.
2) Buy Zcash (ZEC) anonymously using Changelly
Changelly is a cryptocurrency exchange that supports anonymous buying of over 150+ cryptocurrencies. Zcash is one of their supported coins. Changelly enables you to buy Zcash with credit/debit or cryptocurrency. If you are buying Zcash with a credit/debit card, please be aware of Changelly’s limitations on purchases.
Although it is very convenient to buy Zcash with a card, it is not anonymous. Your transaction is still reflected in your bank account.
Buying Zcash with cryptocurrency, on the other hand, is much more anonymous. Changelly is connected to multiple exchanges. When you place a buy order, Changelly gets you the best possible price across all exchanges and delivers Zcash to your wallet.
3) Mine Zcash (ZEC)
Genesis-Mining and Eobot are some of the best services to cloud mine Zcash right now. Alternatively, you can buy hash power anonymously and allocate this power to mine Zcash in a pool. Nicehash and MiningRigRentals are some of the best services to buy hash power. You can find anonymous Zcash pools here.
4) Buy Zcash (ZEC) anonymously from a Decentralized Exchange
Buying Zcash using a decentralized exchange is another method of obtaining Zcash anonymously. These exchanges do not rely on a third party. Instead, you buy directly from other sellers.
If you own cryptocurrencies, you can easily convert it to Zcash using a decentralized exchange. No personal information is needed to start trading. Below are some of the best decentralized exchanges for Zcash:
5) Use a Zcash (ZEC) ATM
Using a Zcash ATM is one of the easiest ways to buy Zcash anonymously. Although it is very convenient to buy Zcash using an ATM, you may not find one nearby. You can check out here to find locations of all Zcash ATMs. Even if you do not find Zcash ATMs nearby, you can still use other cryptocurrency ATMs and later convert to Zcash.
It is important to understand that some ATMs require some form of identity verification. It could be your mobile number, government ID or any other detail. Not all ATMs support anonymous buying of cryptocurrency and some ATMs have cameras attached to them. It is also important to note that cryptocurrency ATMs usually have very high fees. But, if you do not mind these fees, you can easily buy Zcash with cash.
Important Things to Remember
Whichever method you use to buy Zcash anonymously, it is important to hide your identity while using the service. For example, if you are signing up to an exchange, use a fake name and email address. To hide your location, use Tor.
If you are even more serious about buying Zcash anonymously, you can use an operating system like TAILS. This operating system is designed to prioritize privacy. You can check out here.
How to Cash Out Zcash anonymously
Cashing out Zcash anonymously is equally important as buying it. You can use a service like Egifter to cash out cryptocurrency anonymously. All you have to do is go to Egifter and search for “visa” to buy a prepaid visa card. When checking out, choose to pay with cryptocurrency.
Zcash is certainly one of the well-known privacy coins today. Obtaining Zcash anonymously is not convenient but it is still possible. You are required to use a combination of services to stay anonymous. Above are some of the ways to buy Zcash anonymously.