Zcash was built with two things in mind — privacy and anonymity. This cryptocurrency was a response to Bitcoin, as its creators believed they could achieve a higher security level by upgrading the underlying technology. Zcash is based on the codebase used for BTC, but it offers more privacy than its “parent” cryptocurrency thanks to the zk-SNARK technology.
But what’s the use of Zcash if you fail to keep it private with an appropriate wallet?
Best Zcash Wallets 2020
Before we list some of the best Zcash wallets, we’ll take some time to explain what makes a cryptocurrency wallet good.
First of all, you have to make sure that the wallet is trustworthy. Many crypto users believe that they should be the only holders of their private keys. It means the keys shouldn’t be stored by any third party, as anyone who knows your private key can access your money. Therefore, a good Zcash wallet needs to be safe and secure from cyberattacks.
Therefore, we selected the wallets that are continuously audited and upgraded. The developers behind them make sure that the service is top-notch. That way, you can have every confidence that your wallet is always up and running.
We also took into the account user interface and user experience. Some wallets presented below might be more suitable for experienced crypto traders, while others are aimed at complete beginners. However, they all have an intuitive interface and great features that help you store Zcash safely.
Finally, every Zcash cryptocurrency wallet listed below has been given positive reviews from users and professionals alike. Let’s see what options you have.
Software wallets are programs available for desktop computers, smartphones, and tablets. Most of them are actually multi-cryptocurrency wallets, meaning they will let you store other cryptos besides Zcash. Let’s check out the most popular ones!
Guarda is one of the primary choices among ZEC holders. It’s a free wallet that supports Zcash and many other cryptos, including the popular ones such as BTC, ETH, XRP. Moreover, its creators made it available for every platform. You can install a desktop client, download an app for your mobile device, or simply access it by using your web browser. If you use Chrome, you can download a Guarda extension that makes storing your ZEC a piece of cake.
Other significant advantages of Guarda are locally-generated private keys available only in your device, crypto swaps, token generator, round-the-clock support, and more. The only downside of Guarda is that fees for in-wallet purchases are too high for many users. For purchases that involve fiat, the fees may go up to 7%. This is why most ZEC crypto traders simply use it as a wallet.
Atomic is widely regarded as a perfect software wallet for Zcash fans, as it adds additional anonymity. Similar to Guarda, Atomic value your data privacy. While using this software wallet, everything vital is only accessible by you.
This piece of software is available for free, although some services are charged. The fee for those who want to buy cryptos using the wallet tends to be high — 2%-5% per operation. Therefore, we recommend using a more cost-effective option for such purposes.
Note also that you’re the only person responsible for your wallet’s security. Therefore, make sure to never lose your password or back-up phrase if you want to have the best possible experience using this wallet.
Jaxx Liberty has a long and successful history of being one of the favorite options among crypto traders. It has been downloaded more than a million times, according to Decentral, its parent company. It means that the wallet was tested a lot, and there are no major disadvantages in sight.
It offers round-the-clock customer support service and is compatible with many popular cryptocurrencies (85+). However, it fails to support several vital cryptos, including XLM and XRP. Hopefully, these would be added in the future as well.
Hardware wallets are becoming more sought-after nowadays, as people are looking for a safe and secure way to store their cryptocurrencies. Making digital funds “cold” proved to be a successful method for protecting cryptos against cybercriminals. It was only natural that Zcash would be accepted by a few major hardware wallet brands such as Ledger Nano and Trezor.
Ledger Nano X
Accepting more than 1,000 cryptocurrencies, Ledger Nano X is widely regarded as one of the best options in the market. It’s an upgraded version of Ledger Nano S, as it offers a Bluetooth feature that can help you connect it to your phone. This piece of hardware is currently priced at $119 and it is the most expensive model.
Ledger Nano S
The other, older model is Ledger Nano S. It costs approximately $59. It’s also as secure as the Nano X model, except that you won’t be able to make mobile transactions. You can just connect it to your PC via USB. If you’re on a budget, this is the best possible option.
Trezor One is, perhaps, the simplest of all. It comes with a built-in exchange that’s very beginner-friendly. The buying process is carried out via the integrated exchanges, so make sure to get familiar with their terms and conditions. It’s also very affordable since it’s priced at $55. Apart from proven security, Trezor also has a screen, which is actually one of the main advantages of this wallet. However, this wallet model is pretty old compared to some other competitors and lacks support for several popular cryptos.
Trezor Model T
Trezor Model T offers all you can wish for in a hardware wallet. First of all, there’s a built-in intuitive touchscreen interface, where even complete beginners can quickly learn how to get around. And since it’s built by an established hardware wallet provider, it offers top-notch security for all supported tokens, including Zcash.
But that convenience comes at a price. Trezor Model T is priced at around $170. If you’re willing to spend money on a hardware wallet, this may be the right choice. However, if your only goal is to safely store Zcash in a cold wallet, then any of the four presented wallets should do the job.
If you’re willing to use them as your main type of Zcash wallet, you’ll need to visit one of the available wallet address generators on the web. You can visit this site and get an address and QR code generated right away. Or you can download special software for making a paper wallet.
How to Use Zcash for Crypto Exchanges with Godex.io
There’s no need to open an account on Godex, which is an online cryptocurrency exchange service. In fact, the process of buying Zcash using the platform is pretty easy. Here’s how you can do that with the help of a Zcash wallet.
- Select the cryptocurrency you’re willing to exchange for ZEC.
- Select how much you want to exchange and the site will calculate how much ZEC you can get for that amount.
- Enter the wallet address of your Zcash wallet in the destination address field.
- Enter the wallet address of the crypto you want to exchange in the “sender address.” (for example, if you want to exchange Bitcoin for Zcash, you should enter your Bitcoin wallet address).
- Click the “Exchange” button.
- The site will generate a random address which you need to use to send the amount you want to exchange.
- Wait for the transaction to take place, and your Zcash funds will arrive in your wallet after a couple of minutes.
There’s no universal rule on how to select the best Zcash cryptocurrency wallet. You just need to decide on the type of wallet you want (software, hardware, or paper) and go for the one that meets your needs. To save you the trouble of searching for high-quality options, we featured some of the wallets we consider the best. So feel free to read more about them and even test them — at least the software ones, which are usually free.