What is Zcash?
Zcash is a fairly new breed of cryptocurrencies, having entered the scene in 2016. Much like Monero, it takes privacy and anonymity a lot further than Bitcoin. With Zcash, you can choose your transfers to be all anonymous. The case with Bitcoin is that all the transfers are visible in the blockchain with the sender and the recipient visible, but with Zcash all that information is encrypted. The shielded transactions hide the sender, recipient and the value of the transfer on the blockchain.
There haven’t been many trustworthy crypto gambling operators to have added Zcash in the mix. This is now changing, as FortuneJack became the first truly legitimate operator to offer Zcash gambling.
How Can I Gamble in Zcash?
Gambling with ZCash isn’t all that different from gambling with Bitcoin, Monero or any other cryptocurrency. First, you get some Zcash from an exchange, such as Binance or Bitfinex.
After getting your hands on some Zcash, you can choose to transfer the currency directly to gambling operator from the exchange you got your Zcash from, or transfer the ZEC to your own Zcash wallet. You can get your ZCash wallet here. And after that, you’ll just send the ZEC to the gambling operator’s Zcash wallet and take it from there.
Currently the best Zcash casino is FortuneJack, which offers you anonymous gambling and provably fair games. Their slots selection is excellent, and they throw in a sizable welcome bonus when you click on our big yellow button and sign up.
When you start playing, none of your action is visible on the blockchain. It stays off-chain.
December 2017 Update: Bitcasino.io teamed up with Shapeshift.io to seamlessly convert your Zcash to Bitcoin when you open Bitcasino’s deposit window. It makes gambling with Zcash quite a bit easier, and diversifies your options when it comes to Zcash casinos.
Withdrawing Funds With ZCash
Zcash uses two types of addresses for deposits and withdrawals: z-addr and t-addr. Of the two, z-addr is the one with stronger privacy features, as z-addr transfers adds zero-knowledge proofs and other ways to protect your privacy.
T-addr transfers are standard transfers similar to Bitcoin transfers, where your privacy isn’t encrypted. Most pools and exchanges use t-addr transfers. But when you get our own Zcash wallet, you can deposit and withdraw funds using the z-addr if you wish to do so. If you’re interested in enhanced privacy, we definitely recommend using the z-addr transfer. These transfers are called Z-to-Z transfer, and t-addr transfers are called T-to-T transfers.
Which Casino Games Can I Play?
Zcash isn’t that different from other cryptos when it comes to gambling. You can play slots, blackjack, roulette, live dealer games, keno and even bingo.
You can also play jackpot slots and try to hit it big. FortuneJack offers Mega Moolah and King Cashalot – just to name two. Mega Moolah has its progressive jackpot in multi-FIAT-millions on a regular basis. Just think what a boom that’d be to your crypto bankroll. It would blow absolutely everything out of the water.
How Safe is Zcash?
With privacy at the forefront with ZCash, you’ll be guaranteed anonymity if you wish so. Even Edward Snowden went public on Twitter to endorse ZCash’s privacy features. Sure, Bitcoin is much more private and safe than your standard FIAT transfer methods, but with ZEC your privacy is on another level compared to BTC. Let alone FIAT.
How is Zcash Different From Monero?
As stated earlier, Zcash and Monero are two cryptocurrencies which take your anonymity a lot further than Bitcoin.
The biggest difference is that while Monero one transaction data with others, Zcash hides the data completely. So, in essence, your transaction can be found somewhere in there with Monero transfers, while with Zcash the transaction is nowhere to be seen when you make a Z-to-Z transfer.
Both of them are highly private and safe, so you’ll be happy with either of the two you end up using. If you aren’t that keen on privacy, you can stick to Bitcoin no problem. Bitcoin is the easiest to use as it’s the crypto we all trade on, but sure Monero’s and Zcash’s privacy and fast transaction times have their benefits to them.