News ZCash Support is Coming To AlphaBay On July 1st

ZCash Support is Coming To AlphaBay On July 1st

-

- Advertisment -

Darknet marketplaces have always been of keen interest to cryptocurrency enthusiasts. To be more specific,  some marketplaces have started to accept different cryptocurrencies as of late. AlphaBay is by far the largest darknet market right now. In recent months, they enabled Monero and Ethereum payments. It now appears ZCash can be added to this list come July 1st.
It makes a lot of sense for darknet users to deal with anonymous payments. For the longest time, Bitcoin was a preferred cryptocurrency. However, Bitcoin lacks privacy and anonymity traits, despite what some people may think. The quest began for more anonymous currencies, and AlphaBay has made some interesting choices in this regard. Enabling Monero makes sense, as it provides far more anonymity compared to Bitcoin.
AlphaBay Darknet Market Will Accept ZCash Soon
Ever since the platform integrated Ethereum payments, people have been wondering why this decision was made. Ethereum is not anonymous by any means, and it can be a bit of a complicated solution for most people. Then again, it appears there will be an Ethereum mixing service launching soon. By using such a mixer, users can effectively anonymize their Ether payments. For now, there is no real reason to use ETH as a payment tool on AlphaBay, though.
It appears the AlphaBay administrators have been looking for alternative solutions. A new message has been sent to users informing them ZCash payments will be enabled very soon. More specifically, this integration will be completed by July 1st. ZCash is a privacy-centric payment solution which a lot of darknet users will appreciate. It is an intriguing decision, though, to say the least. After all, this is the first major use case for this currency, albeit being affiliated with darknet markets may not be the most appealing aspect.
Moreover, the ZCash price has been rising steadily the past few weeks. There is a huge scarcity associated with ZCash as well, though. It will be quite difficult to obtain this currency for darknet purposes, which will effectively drive up the price even further. It will be interesting to see how this will play out for ZCash in the coming months. Moreover, the question is whether or not AlphaBay users will use this payment solution in the first place.
Header image courtesy of Shutterstock
About JP Buntinx
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.
View all posts by JP Buntinx

Source link

Latest news

What’s the future of decentralized blockchains?

When Bitcoin was new and not valued at anything or just a few cents anyone could join...

My 5 favorite free crypto tools & sites I use daily

So I often get asked by friends, or people visiting my site about new tips for exciting...

Cryptocurrency is The Last Kingdom Where You Can Keep Your Data Private

Data privacy has been a hot topic for quite some time now and particularly after the popularity...

How To Travel With Bitcoin: 9 Travel Companies Accepting Bitcoin

Bitcoin travel is a reality, as several travel companies now accept payments in cryptocurrencies for their services.
- Advertisement -ZCash Support is Coming To AlphaBay On July 1st

Top 5 Ways To Build a Profitable Business in The Crypto Sector

The crypto industry has grown significantly despite criticism and a skeptical approach from regulators across the globe....

These 8 Cryptocurrencies Will Survive the Next Decade

Cryptocurrency is the future, we all have reasons to believe it. But are people ready...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you