In the cryptocurrency world, we bring yet again another remarkable coin, making its way past great barriers. Zcash classic or Zclassic is the new hip in town, much similar to the Bitcoin, yet a lot different from it in major ways. And we are about to discover just that in the next few passages. From Zcash to Zclassic Inmorder to understand Zcash classic, we would first like to introduce Zcash. Unlike Bitcoin, Zcash provides an extra security and privacy level where all its transactions are recorded and published on its own blockchain, but details such as the sender's address, recipient's address, and amount transferred remain private. The content is encrypted using an advanced cryptographic technique called Snark. These techniques ensure validity of transactions as well as a secure ledger of balances without giving out any other information.

Basically Zcash uses a masking type technology that serves to hide certain details associated with a transaction while, at the same time, maintaining certain elements of the transparency that's associated with bitcoin. Specifically, everything is recorded on the blockchain and anyone using an explorer can see that a transaction took place but they can't see who is on either side of the transaction (for example who sent the ZEC, in the case of a Zcash transaction and who received it) or how much was sent. Zclassic is a fork of Zcash: by removing the 20% fee, miners are simply earning their fair reward, and the coin development can be supported by the community.

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ZCL also differs from ZEC by removing the slow start. Zcash Classic, or Zclassic, is an implementation of the Zcash chain.

It is a fair, coin. When Zcash was launched, it was very difficult for long term investors to enter the Zcash market at any given rate.

The and prices were artificially floated to ridiculous heights. In the first day of trading there was a limit of around 11 Zcash coins between all the miners, investors and exchanges. It was a recipe for disaster as some people paid over 3000 BTC for one Zcash coin! Many others still thought they were getting a bargain at 100 BTC, 50BTC, 10BTC and even 1BTC.

Today it trades at around 0.075 BTC. Current market value ZClassic (ZCL) is up more than 167.94% over the last twenty-four hours and a whopping 2,145% over the past seven days. The coin is trading for a market capitalization of $177m as of today (Friday 29th December) and across the last twenty-four-hour period, against a backdrop of the just mentioned increase in price, more than $120m worth of ZCL has changed hands over the various exchanges on which it's traded.

Zclassic is sitting on about 212,000 coins, each worth $0.5 USD or 0.0007 BTC, which gives a market cap of just under 120k USD. Zclassic daily inflation is around 7200 coins or about 5 BTC worth, compared to Zcash which will ramp up in less than two weeks to about $468,000 USD or approximately 620 BTC at today's prices. The hashrate sits at 6-7% rate.

ZCL is traded mainly on Bittrex and C-Cex exchanges. In other words, something big is getting markets super excited about ZCL right now and it's causing a wave of speculative volume to flow towards the coin. How and where to buy ZCL It's pretty similar to what we have explained before regarding the other crypto coins discussed thus far. However, instead of Binance we would use Bittrex this time around. Bittrex exchange is one of the biggest Crypto -accepting exchange, with over 1 billion dollars in daily trading volume. Most other exchanges share the same functionalities and therefore, the trading process is similar.

Stick along to see how to trade your Bitcoins/Ethers for ZCL. Step 1: Buy Bitcoin/Ethereum Ensure that you've already bought Bitcoin (BTC) or Ether (ETH) from your local, crypto exchange that accepts your local currency. Bitcoin and Ether are the biggest coins that represent the base currency for the crypto world; buying any of the 1,300+ altcoins available requires the use of BTC/ETH since you cannot usually buy altcoins using your local currency. A popular exchange is Coinbase, which is easy to use for beginners but has relatively higher fees. Alternatively, you can check out Local Bitcoin, which is a peer-to-peer marketplace. Step 2: Bittrex Account Open a Bittrex account by registering your name and email, and make sure you activate 2-factor authentication to further secure your account against hacks.

The next thing to do is to verify your account by furnishing your personal information and your official identification documents. Verifying yourself allows you to increase your withdrawal limit from 0.4 BTC to 100 BTC saving you lots of headache for future withdrawals. Step 3: Base Currency Deposit You can now deposit the BTC/ETH that you've bought from your local exchange to your newly-opened Bittrex account. You will use the base currency to buy the altcoins of your choice. Step 4: Base Currency Market There are 3 markets in Bittrex: These 3 markets are represented by the common base currencies used to buy the wide variety of altcoins available.

If you deposited BTC as your base currency, then got to the Bitcoin Market and pick an altcoin that you want to buy using Bitcoin. If you deposited ETH on the other hand, pick the altcoins of your choice in the Ethereum Market. Step 5: Buying Enter the details of your buy orders in the 'Buy' box under the trading section. Assume that you're buying Zclassic(ZCL) using ETH: Units: The quantity/amount of coins that you want to buy. Bid: The price that you're willing to pay per unit of ZCL. Type: This refers to the order type, which consists of a 'Limit' (default order) or 'Conditional' Order.

'Limit' order sets the maximum price (as stated in the 'Bid') that you're willing to buy. 'Conditional' orders are more complex as it is only added to the public order book once the prices reach the defined 'Conditional' prices you set.

Unless you know what you're doing, stick with 'Limit' orders Total: The total amount of base currency (in this case, ETH) that you will give up in exchange for the total number of altcoins you want to buy. Alternatively, this is the total cost of buying ZCL using your base currency of ETH. And you are done trading Ethereum for ZCL, now sort and store them in a wallet. Wallet is where you store! The most secure way of storing your coins is through having your personal wallets. Although you would automatically have a wallet when you open an exchange account (exchange-hosted wallet), you do not have control of the private and public keys. Having control of your keys means having control of your coins.

However, there is always a probability of the exchange shutting down or being hacked, resulting in a loss of coins. Hence given the current volatility and the condition of the exchanges, you can only have absolute control by having your own wallet. Stay tuned for more updates and happenings of the crypto world.