Whatever you use your Zcash reserves for – long-term storage or shorts trading, you have to ensure the ultimate safety of your crypto assets. The choice of a reliable Zcash wallet is imperative. But what to pick from the variety of solutions? Our guide with Zcash wallet reviews is here to help you make an informed decision.
Zcash (ZEC) Crypto Explained
Zcash is a cryptocurrency that was built on the original Bitcoin code. It was developed by scientists from MIT, Johns Hopkins, and other reputable academic and scientific institutions.
With Zcash, you control what information you share. Shielded addresses and associated data are not visible on the blockchain. Payment disclosures and special “viewing keys” can be used to exchange transaction details with trusted third parties to verify compliance or audit.
Zcash’s mission is to provide everyone with economic freedom and opportunity. Project developers believe that everyone has the right to privacy, the pursuit of economic freedom is virtuous, and that the future of money is a digital currency that is resistant to attacks and censorship.
5 Best Zcash (ZEC) Coin Wallets
Before we get down to reviewing the best Zcash wallets, let us remind you which types of wallets exist (and what they serve for):
Hardware is the most reliable cryptocurrency wallet. Why? Because the device (something similar to a USB flash drive with a button) stores the private key (password) inside itself and it will be impossible to access it through the network (an already generated transaction is issued at the device output and nothing more). This device naturally costs money, but not so much (a hundred bucks on average).
Cold (local) wallet is software for a computer or mobile phone. It’s not 100% reliable, but free The private key is stored on your computer (or flash drive), although it can also be stored in paper form (in the form of a printout or a QR code), which increases security but reduces usability.
Online (hot) is the least protected because your private key is either stored on a third-party server on the network (i.e. your wallet, in fact, does not belong to you, but there is a chance to regain access to money in case of force majeure using technical support), or transferred from your computer when connected to a wallet. In any case, the likelihood of asset theft is greatly increased. But it improves usability (access from any device from anywhere in the world) and problem solving.
1. Ledger Nano S
Ledger Nano S is one of the best hardware wallets around the world praised for its protective features. The device looks like a USB flash drive that connects to a computer. There is a small OLED display on the case, which is useful in checking and confirming all digital transactions (confirmation is made using the button on the side of the wallet).
The device is quite durable, the case is made of stainless steel and high-quality plastic. There is compatibility with Windows 7 and later, iOS 10.8 and Chrome OS. The wallet has built-in interfaces for working with transactions of various digital currencies.
The most outstanding features of the device include:
OLED display helps with double verification and transaction confirmation. Information about each transfer appears on the display, and the user can confirm it by pressing the side buttons.
Support for multiple currencies. Ledger Nano S is not just a Zcash wallet – it supports over 100+ cryptocurrencies being a versatile solution.
Security. Ledger Nano S is absolutely protected from any fraudulent activities. It encrypts every transaction with a security code. The gadget also supports FIDO Universal Second Factor Authentication code to ensure the safety of translations. This wallet does not remember your security keys – no one can use the device except for the owner.
This is a multi-currency wallet that supports Zcash. It’s a desktop/mobile solution, so it should not be used to store large volumes of Zcash. Yet, this is a great option for everyday use and fast payments.
Jaxx is best for users who are primarily interested in ease of use and access. Inventory for money is decorated with a user-friendly interface. Users can access it on various platforms, including browser extensions, Android and iOS phones, tablets, Windows desktops, OS X and Linux. Wide compatibility and usability make it one of the best Zcash wallets.
With this wallet, you can store a huge variety of digital assets, and thanks to ShapeShift integration, you can easily receive and transfer assets in a single place. The wallet comes with a 12-word core seed that users can use to manage their private keys.
Please, note that Jaxx is vulnerable to hacker attacks, and earlier accidents have confirmed this: the wallet’s security has been compromised once. However, after that, the wallet developers have implemented sufficient security measures to ensure the safety of the user’s funds. These include the launch of the new Jaxx Liberty wallet with an improved interface and security features.
If you need Zcash wallet online solution for storing currency, consider CoinPayments: it accepts payments in approximately 75 coins worldwide. A transaction fee of 0.50% is charged on each transfer, regardless of currency.
The service is considered an ideal platform for sellers who intend to distribute their services on the Internet. The main features of this wallet for Zcash are listed below:
Fast transactions. The first thing that distinguishes this wallet from others is fast transactions. Coinpayments uses BitGo technology to process transactions with increased speed.
Multi-currency support. Coinpayments is also popular because it supports more than 75 digital currencies that are used everywhere.
Security. Coinpayments uses BitGo technology for secure transactions. This multi-level technology that protects your money wherever you are. In addition, it allows users to block their coins. After the lock, money cannot be used until the pre-set date.
Currency conversion. Wallet users can automatically convert coins. This saves a lot of time and facilitates crypto trading.
Coinpayments also has the Point of Sale feature. This means that the user can accept transactions independently without the need for exchangers. The mobile wallet app is available on Android and iOS, so you can send and receive payments using your phone.
4. Zcash Official Wallet
The official Zcash client is a desktop GUI wallet that is best suited for advanced users, especially those involved in ZEC mining. The wallet is for the Linux operating system, but users can also get Mac and Windows versions from the Zcash community. This wallet allows anyone to run the cash client on a computer that requires a full network node.
After downloading the client, the user can send ZEC funds to a personal address. However, this wallet requires at least 2 GB of RAM to implement blocking transactions. Therefore, this wallet is not a good choice if you lack space hard drive.
To ensure optimal transaction confidentiality, users are advised to use transparent addresses that are Bitcoin compatible and easy to use. Alternatively, there is a blocked address that ensures complete privacy of transactions.
5. Paper wallet: alternative to hardware
Although this approach might seem a bit outdated for cryptocurrencies, but paper will come in handy when you need to quickly pay with digital coins without using the Internet. You can create it using Zcash paper wallet generator websites.
For getting access to the funds store on a paper wallet, it is enough to scan the QR code or enter a pair of public / private key into the application. You can also create a ZCash paper wallet for different types of addresses.
You can find a lot of Zcash wallets on the Net – the most advanced solutions support various cryptocurrencies, including ZEC. Before you pick an option, you should analyze what you need it for – cold storage, short-term storage or active trading. Once you decide upon that, selecting a suitable solution will be much simpler.