A Simple Guide to Exchanging ZEC and Bitcoin Using Godex

Zcash (ZEC) has been rising in value over the last few months. By the end of December 2020, Zcash was valued at under $70. Since then, it has risen to around $140 as of mid-March 2021. Bitcoin has also been doing well, skyrocketing to record highs since the start of the Covid-19 pandemic. Considering the shakiness of the dollar and other world reserve currencies, there is every reason to believe that Bitcoin will continue to be a highly valuable digital asset. For anyone who owns crypto coins, there comes a time to exchange one for another. Godex is one of the best platforms to exchange Zcash for Bitcoin or vice versa.    

What Is Zcash and Why Are People Interested in It?

Most people know about Bitcoin, but not so much about Zcash. Zcash is a digital currency that is focused on commercial privacy. The problem with fiat money is that its users are reliant on banks and credit card companies to process their transactions. Lately, censorship has extended to banks and credit card companies refusing to do business with people because of their political and social views. Financial institutions are ill-suited to determine what constitutes acceptable speech and social norms, and their actions so far have proven this point. Cryptocurrencies like Zcash are a way for political dissidents and activists to get around the evermore suffocating grip of increasingly totalitarian governments and private institutions. 

Many believe Bitcoin is private, but it is not completely true. Bitcoin transactions are posted on the blockchain where everyone can see them. At the same time, Zcash gives users the option of confidential transactions by hiding their addresses and using zero-knowledge proofs to verify transactions. Furthermore, Zcash is decentralized, using a vast network of individuals and computers to facilitate transactions. 

Even though Zcash is focused on privacy, it is still audit- and regulation-friendly. The privacy settings allow for sharing information about transactions with third parties if the need arises. 

What Is Bitcoin and Is It Still Worth Buying?

Bitcoin is by far the most popular and valuable cryptocurrency in existence. It is so popular that it has become synonymous with the term “digital currency”. Bitcoin is a currency that uses a blockchain and servers around the planet to verify and facilitate transactions. The differences between this currency and Zcash have already been discussed. It is more important to determine whether it is worth exchanging Zcash for Bitcoin. The rule for buying anything is to buy it at a low price and then sell it at a high price. Bitcoin’s current price is higher than it has ever been. In fact, it makes more sense to sell it. 

However, it makes sense to buy Bitcoin with Zcash if you think Bitcoin will rise in value. There are some reasons to believe the price could continue going up. Some believe that it could be worth $500,000 at the end of the decade, while others think that it could join the dollar as a world reserve currency. With the Federal Reserve injecting trillions of dollars into the economy, the price could continue to rise because people want to protect their savings from inflation. 

How to Use Godex to Make ZTC/BTC Exchange

Godex is a cryptocurrency exchange also designed for those who want to protect their privacy. Here, users can conduct a ZEC to BTC exchange or vice versa and enjoy several benefits of this platform. To make an exchange, first go to the site’s cryptocurrency converter and select the currencies to be exchanged. Select the amount to be exchanged and enter your Zcash or Bitcoin address. Beneath these fields, there is a button that says “Exchange.” Click it when you are ready to complete the transaction. 

Godex has several advantages over other exchanges. The best thing about the website is that the exchange rates are fixed. On other exchanges, the exchange rate can fluctuate, meaning that users may not make as much money off the transaction as they thought they would. 

Transactions usually take between 5 and 30 minutes to complete. Large transactions take more time to clear than small ones. There are no exchange limits, which means you can convert any amount of crypto you would like.

Godex keeps very little information on its users. The website requires no registration or verification. The only exception is if there is a technical or customer service issue. If that is the case, Godex’s customer assistance team may ask customers for their contact information to facilitate better communication. The customer assistance team is highly responsive and replies as quickly as possible to all queries.   

Closing Thoughts

Zcash is an excellent investment because it is likely to rise in value as interest in privacy coins grows. Bitcoin is also a good investment because people are buying it to protect their purchasing power. Godex is one of the top exchanges for buying either of these coins.