Zcash Casinos

In a world where cryptocurrencies are taking over the banking scene, you will find new tokens appearing left and right, but there’s one that emerged and offered something none did previously, Zcash. With privacy at its core, this is a cryptocurrency that you will be able to use without ever having anyone else get access to your transactions. Contrary to Bitcoin and many other open-source cryptos, this one uses a special cryptographic method to validate your transaction without exposing your transaction history or balance. As such, it is incredibly refreshing and offers something that no other has done ever before. So, if you want to be among the first to use it across online casinos, make sure you know all about it. What is Zcash and why try it as your payment method across online casinos?

About Zcash

When the world’s first-ever cryptocurrency, Bitcoin, was released in 2009, it certainly created a buzz. It was the first-ever decentralized currency that offered transactions verified and recorded on a public blockchain, yet with the central banking system out of the picture. It meant that anyone in the world could see users' balances and transaction data, but banks could do nothing with them. And while this for users meant that they get completely decentralized banking, it also meant a great lack of privacy, which inspired scientists and crypto enthusiasts years later to design something better, more private. That’s how in 2016, experts on cryptography, scientists at MIT and Johns Hopkins, and other respected institutions, took Bitcoin’s open-source code and created Zcash (ZEC), a cryptocurrency functioning on zero-knowledge proofs.

Zero-knowledge proof is a cryptographic method that, without revealing how, can prove something to be true. Zcash is the first real-world app that uses this novel method where the prover can prove to the verifier that a statement is true without exposing any information beyond the validity of the statement itself. This means that this method enables privacy and ensures that your transaction history and wallet balance are accurate without actually revealing them. Its blockchain network is assured when someone sends ZEC to someone else that the token being sent is authentic and that the sender’s balance will certainly cover the transaction.

This crypto is different than Bitcoin in many other aspects, such as its self-funding mechanics, among other improvements. In 2020, its community established a new development fund that further decentralized its governance. Miners are rewarded with 80 percent of its issuance while 20 percent is distributed to three organizations. Its inventors, Electric Coin Co., receive 7 percent of the total rewards, 5 percent goes to support the work of the Foundation, while 8 percent of the total block reward goes to the Community Grants to support independent third-party developers.

While Bitcoin only allows transparent transactions, which expose all your transaction and wallet information to a public blockchain, with Zcash, you can make both transparent and private transactions. You can choose to shield all your information and encrypt your wallet history, addresses, and memos and keep them private and protected from public view. So, knowing what you have just learned, let's see how you can get started with the solution so that you can use more of the perks it has to offer across the online casinos that offer it.

Getting Started with It

You will know exactly what you need to do to get started with this crypto if you've ever used cryptocurrencies. Even though much improved and more private, it functions just like any other crypto when it comes to getting started with it. But if you don’t know anything about this, let us guide you through the steps you need to take.

So, first things first, you must join an exchange platform. The crypto is listed on all high-quality exchanges across the globe, but its founders recommend Gemini. If Gemini is not an option in your country, you can always try Poloniex, Bitfinex, Coinbase, Binance, or AIRTM, for instance. So, create an account with one of these, and you’ll easily be able to purchase your ZECs. You’d need to link a payment method and purchase the amount of ZEC using dollars or any other currency the exchange platform you joined supports.

From here, download a crypto wallet, a desktop, mobile or hardware type, where you’ll store your ZECs and be able to send to people and eCommerce platforms, or in our case, online casinos. Mobile wallets, like Zingo!, Flexa, Ledger, or Trezor, for instance, are users' favorite, so decide on one and download it from the Google Play Store or Apple App Store. Launch the app and select Create New Wallet. In an instant, a Seed Phrase will be displayed, so immediately write it down and store it in a secure location, as it is the only way to restore your wallet if you lose your phone or want to use the funds you have on your app in a different app. Click I Have Saved the Feed and with that, you’ll be able to immediately start transferring or receiving ZECs.

On that note, let’s go over the depositing and withdrawing procedures next so that you know exactly what to do when you start using the solution across the online casinos that accept it.

How to Deposit with Zcash at an Online Casino?

Considering this amazing crypto has been around across the online gambling industry for quite some time, it should come as no surprise to learn that it is already offered at some of the best online casino sites. Here at LCB, you will certainly find a number of sites that accept it, reviewed by our experts, sites like ForutneJack Casino, Thor Casino, and 1Win Casino, to name a few.

So, your first task is locating the casino you’d like to join and creating an account with it. The minute your registered player account is ready, you are ready, too, to make your first deposit with Zcash. Go through the following steps:

1. Log into your player account and look for the Banking/Cashier page.
2. Find Zcash (ZEC) on the list of Deposit methods and select its logo.
3. In the pop-up, the casino’s wallet address will be displayed; copy it and press Next.
4. Go to your wallet app, set the amount you wish to send, and paste the casino's address.
5. In an instant, the coins will reach your casino balance.

How to Make Withdrawals with It?

The withdrawing procedure goes the other way around, basically, so you need to go through the same first two steps, and in step three, paste your wallet address and then in step four enter the amount you'd like to cash out.

The casino will take its time to review your request, and in 24 to 48 hours, hopefully, you will get your approval. Once that happens, the funds will immediately be transferred to your crypto wallet, for you to use as it suits you.

Applicable Fees

Only a fraction of a cent is charged each time you’re using Zcash. Considering the solution is faster than Bitcoin, and cheaper, this fee is quite an affordable one compared to the perks it offers.

Your online casino will not charge additional fees when you’re making deposits and withdrawals with it, since operators almost never charge players when they choose to use cryptocurrencies as their payment methods.

Accepted & Restricted Countries

Given the fact that this is a cryptocurrency, you should not be surprised to learn that it is accessible to anyone, from any place across the globe.

Of course, before you decide to use it, make sure you check whether your country is crypto-friendly or the opposite, has banned cryptocurrencies like many countries have. China is one example, another one is Russia. But some of the most crypto-friendly countries are also countries with legal online gambling markets, like Malta which leads the world in regulation of blockchain, and El Salvador, which made crypto a legal tender. So, if you’re a player from such a country, you are in to receive an all-encompassing and carefree online gambling time.

Available Currencies

We mentioned that you will have plenty of fiat currencies at your disposal on the exchange platform you decide to join to purchase your ZEC.

Mainstream currencies like US dollars, Canadian dollars, euros, Australian dollars, Swiss franc and UK pound will most certainly be options regardless of the exchange you decide to join, but you should expect a lot more options. You may even get to use your native currency if supported, but of course, you can also use another crypto you’re holding on your wallet to complete the purchase of your ZECs.

Customer Service & Support Options

Considering this is a decentralized cryptocurrency, after all, the only way you could get assistance, help, or have some of your questions answered, is to visit its official website.

Exploring the website, you will learn a lot about it, but in case you have any questions regarding your deposits and withdrawals with it, make sure you contact your casino’s Support team, as Zcash does not offer any.