EXCHANGE BINANCE COIN TO ZCASH
What do you need to know?
- The average time to exchange BNB for ZEC is from 1 to 2 minutes
- You need 1 confirmation of the BNB blockchain for the exchange
- No need to enter Memo when sending BNB
Binance Coin (BNB) — Binance Exchange Token
The BNB Coin cryptocurrency was released through an ICO that took place in July 2017. As a result, they raised $15 million. Binance Coin was created as an ERC20 token and originally worked on the Ethereum blockchain. But in 2019, the coin “moved” to its own blockchain. The ERC-20 standard is still adopted by the Binance exchange.
What is a Memo and do I need to specify it?
There is an additional Memo field when submitting Binance Coin. Memo is the ID of the payment. It is unique, and with its help the service identifies the sender and recipient.
In our exchanger, when sending BNB you do not need to specify Memo.
Binance Coin Blockchain Speed
An exchange requires 1 confirmation. This operation takes place in a few seconds.
Zcash — the first truly anonymous cryptocurrency
Zcash — a decentralized cryptocurrency developed by Zerocoin Electric Coin Company in 2016. The main feature is the ability to send truly hidden payments, which provide a high level of security and anonymization. Since the Zero-Knowledge protocol is used, the blockchain does not get full open transaction information.
There are 2 types of addresses: a z-address, which is protected by a zero-disclosure proof protocol and is anonymous, and a t-address, which is public. Today 95% of ZEC addresses are open.
Transaction processing speed on the Zcash blockchain
ZEC is a relatively fast blockchain. The average formation time of a new block is approximately 2.5 minutes, which is several times faster than Bitcoin. The developers plan to improve the software and even switch to a completely new blockchain in the future, reducing the complexity of mining. This will reduce the time to confirm one transaction to 1-5 minutes.
Zcash network fee
Cryptocurrency Zcash gained great popularity not only due to anonymity. Many users rated the extremely low fee on transfers. For example, for 2019, it did not exceed $0.0007, and the average figure was in the range of $0.0001.
EXCHANGE IN 3 EASY STEPS
- Enter the desired amount of Binance Chain and write your wallet address to receive currency.
- Click the “Exchange now” button and you will be taken inside your order.
- Send Binance Chain to the address from your order, after the required network confirmation, Zcash will be sent instantly.