August 8, 2019

How do I buy ZCash using a credit card?

Buy ZCash online using a credit card

What is ZCash?

ZCash, founded in 2016 by Zooko Wilcox-O’Hearn in 2016, is a heavily privacy-focused cryptocurrency. It makes use of cryptography in order to offer enhanced security to users. The purpose of ZCash is to provide better privacy for cryptocurrency users compared to leading tokens like Bitcoin.

How to create a ZCash wallet

Sign up for a free Coindirect account and you will automatically get a free ZCash online wallet. You can use your ZCash wallet to buy, sell, store, send (withdraw) and receive (deposit) ZEC.

How to create a ZCash address

Once you have signed up for a free Coindirect account all you need to do is press the ‘Receive’ button to reveal your Coindirect ZCash wallet address.

How to buy ZCash with a credit card

  1. Sign up for a free Coindirect account.Buy ZCash using a credit card
  2. Find your ZCash Wallet and click the  ‘Buy’ button in your ZCash Wallet.
  3. Select “New VISA Card (EUR)” or “New credit card (NGN)” if you are in Nigeria.
  4. Enter EUR value of ZCash you want to purchase (more than the minimum limit) or the ZCash amount you want to buy and then click ‘Preview Buy’.
  5. You will receive a quote, press ‘confirm’ before the timer runs out (counts down from 55 seconds).
  6. Type in your credit card details and pay.
  7. You will be taken to a page to verify your transaction.
  8. Finally, you will be redirected back to your Coindirect Wallet once the payment is successful.

How do I purchase ZCash from my bank account?

If you are in South Africa or in Europe in a SEPA country you can deposit ZAR and EUR into your Coindirect ZAR Wallet or Euro Wallet respectively.

To fund your account you have to transfer money using bank transfers. To get the funding instructions so that your account is credited:

  1. Go to your ZAR/EUR wallet and click the “Fund now” button. Alternatively, click the Fund tab in your Coindirect wallet and click on “Transfer Now”.
  2. Select the bank to transfer to from the drop-down menu to get payment details and the reference you should use (highlighted in blue).
  3. Transfer the money from your bank account into the account shown on the screen then wait for the bank transfer to be processed (0-3 business days depending on the bank).
  4. Once the funds reflect in your ZAR wallet, go to your ZCash wallet and click “Buy” and select “Wallet (ZAR)” or “Wallet (EUR)” as you payment method.

Where can I sell my ZCash?

You can sell ZCash from your Coindirect wallet by clicking the ‘Sell’ button in your ZCash wallet.

If you are in a SEPA region or South Africa. You can sell your ZCash and instantly get money transferred to your Wallet (ZAR or EUR).

If you are in another region with no local currency wallet. You can sell your ZCash by creating a sell offer on the marketplace.

You now know how to buy ZCash instantly from almost anywhere in the world. Make sure to download the Coindirect App to trade ZCash from the palm of your hands. 

Credit card limits

Please note that Coindirect has limits for credit card purchases in place.

Make sure that your account is verified so that your credit card purchase limits are increased.

Currently, the limits for credit card purchases are:

Unverified users – €175 – €500

Verified users – €890 – €1000

Earn Ripple

If you are interested in introducing your friends to a way to buy ZCash with their credit cards, make sure you share a link through the Earn programme. If they sign up to Coindirect, both you and the friend will receive 5 XRP for free when they perform their first transaction.