Quick summary: Our recommendation is to use eToro to short ZCASH. They have the most popular cryptocurrencies on offer, great support, and have an easy system for shorting cryptocurrencies in general.

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ZCASH

While there are a lot of options out there for buying ZEC, shorting is a different story. Luckily for us here in Australia, we do have a few crypto brokers and exchanges that allow for CFDs and shorting.

One of those brokers is eToro, which we’ll be using for this guide. Let’s get started!

How to Short ZCASH in Australia

A quick recap first on what shorting actually is: The main objective of shorting or short selling is to make a profit (of course). The idea is to sell a stock/cryptocurrency hoping it will drop in value so you can buy it back later for cheaper, thus creating a net profit.

Shorting ZCASH can be done in 4 easy steps:

  1. Choose a crypto broker or exchange
  2. Create an account
  3. Fund your account
  4. Short ZCASH

1. Choose a crypto trading platform

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other crypto broker to follow along, they all work very similarly.

2. Create an account on the cryptocurrency exchange

Let’s start with just signing up with eToro.

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The sign-up process is very quick and easy, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your account

Next is funding your account. You have several options when it comes to depositing AUD into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short ZCASH

Now for the actual shorting:

  • Starting off at the search bar at the top, find ZCASH by entering the name or symbol.
  • Then on the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  • At the top of the trading interface: Click on sell to short sell the stock.
  • Enter the amount for which you want to sell ZCASH and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of ZCASH has dropped, go to your Portfolio, find the ZCASH trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short ZCASH!

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Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

Where to Short ZCASH (ZEC)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more complex compared to eToro, they do have more cryptocurrencies on offer.

Frequently Asked Questions

Can I short ZCASH on Binance?

Yes, you can short ZCASH on Binance. They have over 300 cryptocurrencies on offer and specialise in the crypto market. They also have a great app and competitive fees.

About ZCASH

Zcash is an open-source, decentralized cryptocurrency that allows for privacy and transparency in transactions. Zcash payments can be published on a publicly accessible blockchain. The sender, recipient, amount and details of each transaction are kept private.

Zcash is built on peer-reviewed cryptographic analysis and was developed by a security-specialized engineering group on an open source platform that uses Bitcoin Core's battle tested codebase. Our innovation over Bitcoin is the addition privacy. Zcash uses advanced cryptographic technologies, such as zero-knowledgeproofs, to verify the validity of transactions and not reveal any additional information.

How Zcash works

Zcash protects the contents of shielded transactions. To verify their authenticity, Zcash uses a new cryptographic method because the payment information is encrypted.

Zcash uses a zero knowledge proof construction called a zk–SNARK. This was created by our team of experienced cryptographers based in recent advancements in cryptography. These constructions allow the network maintain a secure balance ledger without disclosing any amounts or parties. Instead of publicly showing spend-authority or transaction values, transaction metadata can be encrypted and zk–SNARKs used to prove that no one is stealing or cheating.

Zcash can also be used to send public payments that work in the same manner as Bitcoin. Zcash users have the option to send Zcash privately and publicly via transparent or shielded addresses. Zcash payments sent from transparent addresses to shielded addresses reveal the received balance. Payments from transparent addresses to shielded addresses protect the receiving value.

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