How to Accept Zcash Payments

Cryptocurrencies introduced a revolutionary online transaction model that relies on digital assets and decentralised control.

One of the primary advantages of blockchain-based currencies is the increased transparency and shared control, where users can view transactions and receive immutable payouts without facing chargeback fraud or getting their credit card details stolen.

However, one aspect that almost all virtual coins lack is user privacy. The publicity of crypto payments can disadvantage companies and users who do not want to reveal their transaction details to others, such as competitors and hackers.

This is where Zcash comes in, providing secure crypto payment methods that do not reveal user data and ensure robust processing capabilities. So, how does ZEC coin work and how to accept Zcash payments with B2BinPay? Let’s explore.

ZEC is a cryptocurrency and open-source blockchain protocol that was launched in 2016. It was developed to offer unmatched security and preserve user privacy. ZEC was created as a Bitcoin fork, sharing many similar features, such as the codebase and the maximum supply limit of 21 million coins.

The Zcash blockchain uses a different hashing system and security protocols designed to overcome many of Bitcoin’s drawbacks, especially regarding user security and anonymity.

Zcash is a highly secure method offered by many crypto payment processing companies that cater to users’ privacy. This blockchain uses advanced security layers such as ZK and ZK-SNARKs to conceal online payment details and ensure only the sender and receiver can access the transaction information.

The Succinct Non-Interactive Argument of Knowledge (SNARK) protocol allows the validating nodes to approve transactions without accessing the payment details while only revealing the content to senders and receivers.

Another feature of accepting Zcash payments online is that the ZEC blockchain requires 24 confirmations to validate a transaction, which is way safer than Bitcoin, which requires only six signatures.

Businesses accept Zcash payments to transact in cryptocurrencies while offering users robust safety, lowering their data exposure and concealing their Zcash wallet address.

Individuals and companies can buy Zcash to secure funds and explore the following utilities.

• Mining: ZEC coin shares some similarities with Bitcoin, including Zcash mining, where network participants solve complex equations to help validate transactions and receive rewards.
• Securing sensitive data: the ZEC blockchain stores medical records, wealth statements and other personal information in a secure network that does not reveal its content publicly.
• E-commerce shopping: You can integrate a Zcash payment gateway into your website to receive ZEC payments without compromising your or your customer’s data.

Receiving Zcash payments is made easier with B2BinPay crypto processing solutions, where you can manage your digital assets and funds in one place.

Users are incentivised to use virtual coins and assets that ensure the integrity of their payment and personal details. So, here’s how you can accept Zcash payments online.

Account Setup

Register your B2BinPay crypto wallet that aligns with your needs. If you want to launch a brokerage firm offering investments in DeFi coins and tokens, you can open an enterprise wallet.

Alternatively, you can use B2BinPay crypto merchant processing features to receive instant Zcash payments and store funds safely.

B2BinPay payments offer a centralised dashboard for managing your cryptocurrencies and effortlessly opening multiple wallets. You can use swaps to exchange coins using the VWAP model, which consolidates order books and pools to provide the best rates within seconds.

API Integration

B2BinPay provides a complete API integration guide to ensure your processing gateway works flawlessly, allowing you to receive money in ZEC and over 300 other crypto coins, tokens and stablecoins.

After signing up, you will receive your unique API credentials, which you can add to your API documentation to accept ZEC transfers. B2BinPay crypto processing tool supports KYC and AML procedures to ensure the safety of your payment gateway and verify your users’ identity.

Configuring Zcash Payments

B2BinPay’s wallet solution is highly flexible. You can adjust users’ settings, especially for enterprises where several users and managers require access.

You can store funds in crypto or fiat money and create automated payments for your suppliers and referrals.

Launch your business with B2BinPay’s crypto processing solution and start accepting Zcash payments, besides 300+ coins and tens of the safest blockchains.