Social trading network eToro has added Zcash (ZEC) to bump up its collection of crypto offerings to 14.
eToro is a regulated social trading and multi asset brokerage company. The other 13 crypto listed for investment on eToro are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), Ethereum Classic (ETC), Dash (DASH), Stellar (XLM), NEO (NEO), EOS (EOS), Cardano (ADA), IOTA (MIOTA), and Binance Coin (BNB).
ZEC will also be incorporated into eToro’s “Crypto Portfolio” feature where clients can invest in all 14 crypto collectively. The portfolio does this by weighing each asset by market capitalization.
Though a privacy-focused crypto, ZCash’s transactions on the blockchain are actually transparent but it does have the option to use a kind of zero-knowledge proof zk-SNARKs. Zcash currently has a market value of more than $300 million.
According to Bitcoinist, co-founder and CEO of eToro Yoni Assia commented that currencies like ZCash have changed how people transfer money:
“The way in which we transfer money from person to person, or company to company is constantly evolving. It is not surprising that others have taken on some of the core ideas behind Bitcoin and developed new payment networks with additional features — in the case of Zcash — privacy.”