Horizen [ZEN] (formerly ZenCash) launched in May 2017 as a fork of Zclassic, which was a fork of the original Zcash. The coin has a strong focus on research & development, and looks to solve the scalability issues within the cryptocurrency space.
Its overall goal is to be the most useful privacy cryptocurrency on the market by being a secure platform for money, messages & media. They have a fixed lifetime coin amount of 21 million ZEN and utilise the same Equihash Proof of Work algorithm as Bitcoin Gold.
Historically altcoin price fluctuations had a positive correlation with bitcoin price movements. This meant that if bitcoin price increased, you would soon expect the altcoin prices to increase, but recently bitcoin price and altcoin prices seem to be independent. Factors that drive price of an altcoin are interest around the altcoin, if there is an upgrade coming up, listing on prominent and trusted crypto exchanges and new partnerships formed by the altcoin.
Altcoin adoption has a major role in positive price increases, adoption is hugely influenced by the use cases of the coin. Spreading of FUD by media, negative press from influential people, banning of crypto by certain countries (regulation) and hacking of altcoin and exchange platforms has a negative effect on altcoin prices.
ZenCash can be converted from major digital currencies on our cryptocurrency conversion service. This means you can buy with ZAR, EUR, NGN, GBP, AUD and many more. Supporting 25 countries, can be bought using the most convenient local payment method; including bank transfers, PayPal, TransferWise, supported fiat deposits, direct deposits and M-Pesa. Credit card payments are coming soon.
Disclaimer: The content on this page should not be taken as financial advice. Never invest what you can’t afford to lose as the cryptocurrency market is volatile. Always research as much as possible before buying any coin.