ZEC Price Dips Double Digits

The last seven days in crypto has seen double digit growth in coins such as XRP, Polygon, and SUI. Meme coins have also exploded with PEPE and PENGU up 46% and 32% respectively.

In stark contrast, Zcash, once touted by Van Eck CEO Jan Van Eck as an anonymous crypto with “a lot more privacy” than Bitcoin, crashed 20% yesterday, before recovering slightly today.

Why has the ZEC Price Crashed?

According to sources, there has been a rift between the Electric Coin Company (ECC) the company that contributed to the development of Zcash and Bootstrap, a non profit entity created to support Zcash by governing the ECC.

Josh Swihart, CEO of Electric Coin Company said that “Over the past few weeks, it’s become clear that the majority of Bootstrap board members… have moved into clear misalignment with the mission of Zcash.”

This resulted in the full ECC team resigning, or as Swihart put it they were “constructively discharged”. This is when employees resign due to intolerable working conditions created by the employer.

Swihart said that the ECC team would now be creating a new company, and that the Zcash protocol itself is not affected in any way by the internal politics and nonprofit headaches.

What is the Best Anonymous Cryptocurrency?

We have seen internal governance disputes before, for example Tezos in 2017 was at the centre of a dispute between the Tezos Foundation and the project’s founders over control of funding.

Similarly, we noted in our November article that Zcash “is influenced by the Electric Coin Company (ECC) and the Zcash Foundation, making it more centralized than Bitcoin and more vulnerable to organizational influence.”

The clue is in the name: Electric Coin Company. As one commenter on X put it: “If one board dispute can stall the roadmap, you didn’t have decentralization… you had a company. Great tech can’t save bad structure.”

Monero

When it comes to team structure, Monero comes to mind as one of the best anonymous cryptocurrencies.

Monero doesn’t have a centralized team like Zcash, it’s more of a loose group of contributors and independent contractors from around the world. There is no company, foundation or official headquarters.

When it comes to anonymity, every transaction is automatically hidden, in contrast to Zcash which uses optional transaction shielding.

Monero is so private in fact that it was banned from exchanges such as Coinbase and Kraken, due to KYC requirements.

Bitcoin

Bitcoin is even more layered than Monero, there is no Bitcoin company or CEO, it is decentralized but better funded than Monero.

This protects Bitcoin from single-point failure like a single company resigning such as Zcash. Bitcoin’s scattered funding and contributors make it virtually impossible to shut down.

Bitcoin is semi-anonymous, transactions are public, permanent and traceable however it still requires analytics to link transactions to a real world identity.

How to Buy Crypto Anonymously

When it comes to buying Bitcoin or any cryptocurrency anonymously, one popular option is Best Wallet. Through the app, users can buy, trade, and swap thousands of cryptocurrencies without KYC checks, distinguishing it from centralized exchanges which require users to verify their identity.

Security is another reason to pick Best Wallet. Despite operating on a no-KYC posture, the wallet leaves no stone unturned to protect users and their assets. It has a self-custodial architecture, meaning users themselves hold both their private and public keys. Therefore, no one except them have access to their assets.

But that’s not all, as the wallet has also integrated notable features such as Fireblocks, encryption, fingerprint scans, and 2FA, further strengthening its security system. Fireblocks, for instance, offers crypto insurance without sacrificing accessibility. 

The platform also prioritizes user experience, offering an intuitive, user-friendly interface that is both easy to navigate and highly responsive. And unlike DEXes that are only limited to cryptos running on their native chains, Best Wallet supports a variety of blockchains. What this means is that it can be used to store and purchase nearly any crypto running on those chains.

It already caters to hundreds of thousands of users by allowing fiat payment, staking, and crosschain swaps inside its app, making it a haven for those looking to maximize their investments this year. Many traders also cherish Best Wallet due to its multi-wallet functionality, which supports them to manage all of their portfolios in one place. 

There’s even a token launchpad for users interested in early-stage cryptocurrencies, enabling them to discover opportunities and get in on the ground floor before they go public. 

Unsurprisingly, prominent names in the industry, including 99Bitcoins have already featured the wallet, praising it for its safety and usability. 

Download Best Wallet

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