Best Zcash Wallets: Where to Store Your ZEC In 2023

Looking for best Zcash wallets on Internet? So either you’ve decided to invest in Zcash or you already have some Zcash in your portfolio, the popular privacy coin. Congrats, that’s a smart move in today’s world where digital privacy is increasingly important. But now you need a secure place to store your ZEC. Don’t worry, we’ve got you covered. In this article, we’ll review the top 10 Zcash wallets so you can find one suited to your needs.

What Is Zcash and Why Do You Need a Zcash Wallet?

Since 2016, a bunch of scientists got together and came up with the idea of creating a cryptocurrency called ZCash or ZEC. They wanted it to be similar to Bitcoin, but with some extra cool stuff. So, they took the  fork of Bitcoin blockchain and made some changes to make it more secure and private for users. They started off by creating something called Zerocoin, but later on, they upgraded it to Zerocash. And that’s how ZCash got its name!

A Zcash wallet is a digital wallet used to send, receive, and store ZEC. There are several types available, each with its pros and cons:

Software wallets

  • Easy to use and free, these are applications you download to your phone or computer. Convenient but less secure. Examples: Jaxx, Coinomi, Exodus.

Hardware wallets

  • Offer the highest security. Your private keys are stored on a physical device like a USB drive. Harder to hack but can be expensive. Top picks: Ledger Nano S, Trezor. Find out Complete list of crypto hardware wallets here!

Paper wallets

Exchange wallets

  • If you buy or trade ZEC on an exchange like Binance or Kraken, they’ll automatically provide you a wallet to store your coins. Convenient but risky—exchanges can be targets for hacking. Only keep small amounts here.

As with any investment, do your own research to choose the right wallet for your needs. And be sure to enable two-factor authentication on any wallet or exchange account for an extra layer of protection. By taking security seriously and storing the bulk of your ZEC in a hardware or paper wallet, you’ll sleep well at night knowing your private keys—and your investment—are safe.

Best Zcash Wallets for Desktop

Here are the top 5 Zcash wallets for desktop:

Exodus

This popular multi-asset wallet supports ZEC and over 100 other cryptocurrencies. It has an intuitive design and built-in exchange to swap ZEC for other coins. However, for maximum security, we recommend only holding small amounts of ZEC on Exodus.

Jaxx Liberty

Another multi-currency wallet, Jaxx Liberty allows you to store, send and receive ZEC. It has versions for desktop as well as mobile. Jaxx is convenient but not the most secure option, so only keep a little ZEC on it for daily use.

Atomic Wallet

This decentralized wallet lets you retain control of your private keys. It supports ZEC and 300+ other coins and tokens. Atomic Wallet has useful features like decentralized atomic swaps, a built-in exchange, and the ability to buy crypto with a credit card. For a balance of security and convenience, this is a good mid-range option.

Zcash QT Wallet

For maximum security, the official Zcash QT wallet is your best bet. This open-source wallet allows you to maintain full control of your private keys. However, it only supports ZEC and requires you to download the entire blockchain, so it may not suit less tech-savvy users or those with limited hard drive space.

Magnum Wallet

Magnum is an open-source, non-custodial wallet focused on privacy and security. It supports ZEC and several other privacy coins. All data is encrypted and stored locally. For the most privacy and control, Magnum is an excellent choice if you’re comfortable managing your own keys. However, it does require some technical knowledge to set up and use.

Best Zcash Wallets for Smartphone

If you want to store and use your Zcash (ZEC) on the go, a mobile wallet is essential. Here are the top 3 ZEC wallets for mobile phone:

Jaxx Liberty

Jaxx Liberty is a popular multi-currency wallet that supports Zcash. It’s available for both Android and iOS. Some of the main benefits of Jaxx include:

  • Simple to set up and use. You can be storing your ZEC in minutes.
  • ShapeShift integration allows you to instantly convert between ZEC and other cryptocurrencies within the wallet.
  • Strong security with a PIN code and encrypted keys. Your private keys never leave your device.
  • Free to download and use. Jaxx makes money through the ShapeShift exchange fees.

Edge

Edge is another highly-rated mobile wallet for Zcash. Key features include:

  • Multi-platform support for Android and iOS. Access your ZEC on the go regardless of device.
  • Built-in exchange allows you to swap ZEC for Bitcoin or other crypto directly in the app.
  • Strong security through encrypted keys, two-factor authentication, and biometric login options like face ID or fingerprint.
  • Free, open-source software. Edge is a non-custodial wallet so you maintain full control of your private keys.

Coinomi

Coinomi is one of the oldest and most trusted mobile crypto wallets, offering support for over 125 blockchains including Zcash. Some benefits of Coinomi include:

  • Available for both Android and iOS so you can manage your ZEC wherever you go.
  • ShapeShift integration for fast crypto exchanges right within the wallet interface.
  • Strong encryption and security. Private keys never leave your device and are not stored on any servers.
  • Free, open-source software. Coinomi makes money through ShapeShift exchange fees and affiliate programs.
  • It is a multi crypto wallet where you can store all your cryptos in a single application.

Any of these three mobile wallets would be an excellent choice for storing and using your Zcash on the go. Let me know if you have any other questions!

Best Zcash Hardware Wallets for Storing ZEC

When it comes to storing your Zcash (ZEC), hardware wallets are the most secure option. Unlike software wallets which are connected to the Internet, hardware wallets are offline cold storage devices. Your private keys are stored on the device, so your ZEC is protected even if your computer is compromised by malware.

Ledger Wallet

ledger nano x hardware wallet

The Ledger Nano S and X are two of the most popular hardware wallets for ZEC. They support Zcash transparent addresses (t-addrs) and also shielded addresses (z-addrs) for private transactions. The Ledger wallets work with the ZecWallet Lite desktop wallet and the ZecWallet mobile wallet, allowing you to manage your ZEC on the go. To send or receive ZEC, you just connect your Ledger device to your computer or phone, enter your PIN, and confirm the transaction on the device screen.

Trezor Wallet

trezor model t - tezos wallet

Trezor also makes highly secure hardware wallets that support ZEC, like the Trezor One and Trezor Model T. These are very easy to set up and are compatible with ZecWallet Lite. The Trezor Model T has a larger touchscreen display and can be used to directly interact with the Trezor Suite wallet interface. Both Trezor models allow you to recover your ZEC using a recovery seed in case anything happens to your device.

Keepkey Wallet

Keepkey best zcash wallets

The KeepKey is another solid, inexpensive option for securely storing your ZEC offline. It works with the ZecWallet Lite desktop wallet and the KeepKey Chrome extension, so you have flexibility in how you access and manage your ZEC. The KeepKey generates and stores your private keys on the device, keeping your ZEC safe from cybercriminals and other digital threats.

Owning a hardware wallet is really the only way to have true peace of mind that your ZEC is 100% secure. Do your research to find a device that suits your needs and experience level. Once you have it set up properly, you can sleep easy knowing your ZEC is safe and sound.

How to Choose the Best Zcash Wallet for You?

When choosing a Zcash wallet, you have several options to consider based on your needs and technical skills. The most important factors to weigh are:

Security: For maximum security, a hardware wallet like the Ledger Nano X is your best choice. Hardware wallets store your private keys offline on a dedicated device, making them very difficult to hack. Software wallets, like Exodus and Jaxx, are also relatively secure if you enable two-factor authentication and only install updates from official sources.

Ease of Use: If you’re new to cryptocurrency, choose a simple wallet like Exodus or Coinomi that has an intuitive interface and built-in exchange. These make it easy to send, receive and trade ZEC without complicated steps. For more advanced users, wallets like the Ledger and Trezor also have straightforward interfaces but offer more customization options.

Accessibility: Consider how often you need to access your ZEC. Hardware wallets keep your keys offline for cold storage, so you can only access your funds when the device is connected. Software wallets provide constant access since they’re installed on internet-connected devices. If you actively trade ZEC, a software wallet is probably more convenient. For long-term holding, a hardware wallet is a safer choice.

Anonymity: If privacy is a concern, choose a wallet like ZecWallet Lite or Coinomi that offers z-address support. Z-addresses help shield your transactions on the Zcash blockchain. Wallets without z-address support, like Exodus and Jaxx, won’t provide the same level of anonymity.

The wallet you choose ultimately comes down to balancing these factors based on your needs. Do some research on different options to determine what’s most important to you, whether that’s security, ease of use, constant access or anonymity. With the right wallet for your needs, you’ll have peace of mind knowing your ZEC is in good hands.

Conclusion

So there you have it, a roundup of the best Zcash wallets currently available. Whether you’re looking for a simple desktop ZEC wallet or a hardware wallet for maximum security, there’s an option on this list for you. Get your ZEC off of exchanges and into one of these wallets right away. The world of cryptocurrency can feel like the Wild West at times, so do your future self a favor and keep your funds safe. Your Zcash is an investment in this innovative privacy technology, and you’ll want to keep it protected.

But don’t get overwhelmed comparing all these options – any of the ZEC wallets we covered today will do the trick. Pick one, move your coins, and then you can rest easy knowing your ZEC is right where it should be.

Via: https://coinfunda.com

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