Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
Zcash (ZEC) is a cryptocurrency created in 2016 with a focus on privacy and anonymity. Unlike other cryptocurrencies such as Bitcoin, Zcash offers serious privacy where users’ personal and transaction data remain completely confidential. The platform leverages zero-knowledge proofs allowing transactions to be verified without revealing the sender, receiver, or transaction amount. Being one of the world’s top 30 cryptocurrencies by market capitalization, ZEC is a lucrative crypto investment.
If you’re thinking of investing in Zcash, you’ll need a secure wallet where you can hold your ZEC coins. Crypto wallets keep your cryptocurrencies safe, private, and under your control. While there are several wallets to choose from, here are the best wallets for sending, receiving, and storing Zcash.
Best Zcash (ZEC) Wallets
Ledger Nano S
The Ledger Nano S is among the world’s most popular cryptocurrency hardware wallets offering users outstanding security for their coins. The wallet appears like a folding flash drive weighing only 16.2 grams, 9mm thick and less than 100mm long, and 18mm wide. It features an OLED display that shows each transaction’s details plus a physical button on the side of the wallet for confirming transactions. This shields you from making errors in transactions.
The Nano S store and support over 26 blockchains and 1500 tokens simultaneously, including Ethereum, Zcash, Bitcoin, Bitcoin Cash, Stellar Lumens (XLM), Ripple, stablecoins, etc. and integrates with multiple software wallets. The wallet integrates with Windows, Linux, and Chrome.
An outstanding feature of the Nano S is its outstanding security. The wallet boasts of built-in security features that fully secures each transaction and deters hackers from stealing your coins. The security features include the Universal Second Factor Authentication, four-digit pin code protection, and dual-chip architecture with a CC EAL5+ certification level.
The Ledger Nano S is a great hardware wallet for storing your ZECs in the most secure environments.
Trezor is another great wallet for storing Zcash. Like the Ledger Nano S, Trezor appears like a key-sized USB flash drive with a screen for confirming transactions. The wallet operates based on the “Zero Trust Approach” to secure transactions. The wallet stores your ZEC and cryptocurrency private keys offline and signs transactions.
Regarding the wallet’s security, Trezor offers top-notch security. The entire wallet is backed with the 24 words generated on set-up, with users having control over the private keys. The 24-word seed is generated offline using RNG from the device and computer and displayed on the TREZOR’s screen; thus, the seed is never on an internet-connected device. The 24-word backup seed is used to recover your wallet if your wallet is lost, stolen, or damaged.
Trezor wallet was specifically created to store Bitcoin but currently supports 14 other cryptocurrencies, including Zcash. It’s safe and easy to use the Zcash wallet with outstanding features.
Jaxx Liberty Wallet
The Jaxx wallet is a multi-chain offline Zcash wallet that supports more than 85 different cryptocurrencies, including Bitcoin, Ethereum, Zcash, Dash, Ethereum Classic, DAO, Litecoin, and REP. The wallet offers users full control over their funds. The wallet also integrates with crypto exchanges enabling users to exchange between Bitcoin, Ethereum, Zcash, etc. seamlessly.
For coin security, Jaxx Liberty Wallet offers users full control over their private keys. Besides, the wallet features a quick and easy backup and restore system, meaning that users’ don’t have to worry about losing their funds due to a simple error.
The support team is available 24/7 to attend to your queries. Jaxx Liberty wallet is only available on mobile platforms (iOS and Android) and lacks a desktop version.
Trust wallet is a multi-currency wallet that supports 42 cryptocurrencies and over 2 000 ERC20 tokens with 11 supported languages. The name “Trust” implies that the developers focused their development on anonymity and security. The wallet offers top-notch security since it operates in a server-free environment where the private keys are stored locally. Neither developers nor third parties have access to the private key.
Some of the wallet’s outstanding features include integration to a decentralized exchange, i.e., Kyber Network, FaceID and TouchID, real-time portfolio, and push notifications. Overall, Trust Wallet is a secure and trustworthy wallet for storing your cryptocurrencies, including Zcash.
Zec wallet is the official full node wallet for Zcash. As a full node wallet, users must download the entire blockchain and permanently synchronize it on the desktop. The wallet has attracted rave reviews from the Zcash community thanks to its outstanding features, including the possibility of sending anonymous payments and the use of functions of the memo field. Zec wallet was the first wallet to implement a shielded address with Sapling compatibility.
Zec wallet exclusively supports ZEC. It’s, therefore, ideal for ZEC users looking to use shielded transactions. The wallet is available as a desktop wallet for Windows, macOS, and Linux. However, the wallet’s major let down is that users must download the entire blockchain and then permanently update to be synchronized with the blockchain to use the wallet. It also supports one coin locking out users from storing other coins.
If you’re looking for a multi-currency desktop wallet to store your ZEC coins, the Guarda wallet is a viable option. Guarda is the first “light client” wallet for Zcash in the form of a beta test version for Android, supporting both transparent and shielded transactions. While the real version hasn’t been released, Guarda’s wallet will be the best Zcash wallet once released.
Apart from ZEC, Guarda wallet supports over 40 different cryptocurrencies, including all ERC20 tokens. It’s an open-source wallet and available on Mobile (Android& iOS) and the web as a Google Chrome browser extension.
For security purposes, the private keys are stored on the user’s end device, with users having full control over their cryptocurrency. No third party has access to users’ personal or cryptographic information. The wallet also integrates a feature that allows users to purchase any of the supported cryptocurrencies with a credit card via Simplex. Additionally, the Guarda Web wallet can be linked to Ledger’s API for widespread usability.
In essence, the Guarda wallet is a great Zcash desktop wallet that supports over 40 different cryptocurrencies and with outstanding security features. It’s also the first “light client” wallet for Zcash with support for transparent and shielded transactions.
A crypto wallet helps to keep your cryptocurrencies safe, private, and under your control. Zcash is an outstanding cryptocurrency that utilizes high-level technology to ensure users’ personal and transaction data remain completely confidential. While there are plenty of wallets to store Zcash, the wallets discussed in this piece are excellent in storing and securing ZEC coins.