What is Zclassic? Is Zclassic a Good Investment? What is the Best Time to Invest in Zclassic?
For above and any other question about Zclassic, you have come to the right place. In this article, I will help you understand Zclassic in depth so that you may know whether it is a good investment or not. Let’s start!
Want to Get My 7-Day Email Course to Make Money Online?
Enter Your Email Below to Steal My PROVEN Formula to Create Your Own "Money-Making Machine" In a Week...
We respect your privacy. No Spam.
Short Review: Zclassic is a cryptocurrency forked from Zcash to provide a higher degree of privacy. Zcash charges a 20% on all miner rewards, which is directly sent to Zcash developer fund. This has left cryptocurrency enthusiasts with a lot of questions about Zcash. Zclassic has removed this fee and miners earn their full reward for their contribution.
The value of Zclassic has recently crashed and investing it has proved to be extremely risky. If you prefer more secure and proven ways to make money online, I advise you to follow this step-by-step training.
What is Zclassic?
Zclassic is a cryptocurrency that has removed the unfair mining reward cut and it is not intended for creating an artificial scarcity like Zcash. Zcash was designed and developed to solve some of the privacy issues associated with Bitcoin, but there are a number of issues associated with this cryptocurrency. Another famous privacy coin is called Monero.
One of these issues is that Zcash founders take 20% of the miners’ rewards, meaning that they have a direct control over 10% of the entire monetary supply. Also, Zcash has a slow system built into it, which makes it difficult and slow to mine the first 20,000 blocks. This has also led to a potentially inflated market price. Zclassic has removed all of these features.
How Does Zclassic Work? / Benefits of Zclassic
Zclassic is a fork of Zcash, the privacy coin but with no “founder’s tax”. The founder tax was implemented as a way for the Zcash creators to make money from the Zcash transaction fees- not interesting! Zclassic is an open source cryptocurrency coin. After the introduction of Zcash, it was a bit hard for long-term investors to enter Zcash market at any time.
This led to hyperinflation and the prices were artificially raised to ridiculous heights. In the first trading day, there was a limit of about 11 Zcash coins for all miners, exchanges, and investors. This led to a disaster as some individuals had to pay over 300 BTC for a single Zcash coin. Today, a single Zcash coin trades at 0.075 BTC.
Zclassic has removed this uncertainty of hyperinflation by beginning at full 12.5 block rewards. In Zcalssic, there is also no need of creating artifificial scarcity as is the case with Zcash. This has led to the shaping of an appropriate economic model to create a realistic market. Investors have also gained confidence to participate in the market.
Zclassic employs a number of principles in a bid to provide anonymity and privacy to its users. The user has to take his secret key then destroy it to ensure the system is secure. Just like Bitcoin, Zclassic transactions are recorded then published on the blockchain. However, no information about the sender, receive or the amount is visible at any time.
This makes Zclassic one of the most secure cryptocurrencies in the world. This is achieved by use of the Snark cryptographic technique which other cryptocurrency developers have expressed a lot of interest in. Most people today are in need of financial privacy and anonymity. Since Zclassic provides its users with these, it is one of the most promising cryptocurrencies.
It is expected that a total of 21 million ZCL will be brought into circulation in the next few years, which clearly shows that the Zclassic development team is following a similar issuance model as Bitcoin. So far, about 3.246 million ZCL coins have been mines, meaning that both the Zclassic development team and the miners have a lot of work to do. The coin is doing very well in the market, but its value is still lower than that of Zcash itself.
Risks of Zclassic
The introduction of Zclassic provided the community with an equal chance of investing in the project. Zclassic provides a decentralized coin with no company or top-investors behind it. The coin has no slow start providing an equal opportunity to all investors. However, despite the benefits associated with the project, it faces a number of risks just like any other project.
There is news that Zclassic will be rebranding itself to Bitcoin private (BTCP). However, a lot is expected to be done other than simply changing the name. The underlying Zclassic protocol will have to be changed, meaning that Zclassic will go through a hard fork. However, the Zclassic tea had not foreseen the problems associated with this.
Do You Want a FREE& Easy-to-Follow7-Day CoursetoMake Money Onlinefor Beginners?
- My Personal 1-on-1 Support for You
Get Started for FREE Below Before this offer goes away!
One of these problems is about the cryptopia exchange since they are suffering from withdrawal issues of Zclassic. Cryptopia is normally viewed as the last resort exchange in which coin developers can have their coins listed. This is why the Zclassic community wanted the issue sorted out.
Based on some sources: Currently, there is no development team working on Zclassic since the old team is focusing on BTCP. No team or developer has come forward to state that they are planning to keep Zclassic up to date.
Before BTCP was announced, the price of the ZCL coin was $2 or even less. It is believed that the price went up simply because people wanted to get BTCP and they had to buy ZCL in order to get the BTCP. This means that there are high that individuals who invested in ZCL only wanted the BTCP rather than ZCL. There is a risk in that the price of ZCL may only rise if the individuals announce another fork such as BTCP.
Zclassic has a team of active participants coding the source code behind Zclassic. However, the team has no marketing or sales staff which could have played a great role in spearheading the growth of the coin. Zclassic does not publish social profiles or bios of their team members, and this makes it harder to know the individuals behind the project.
Zclassic does not also update their blog on a regular basis, which has made it hard to tell their progress on the project.
You can find Zclassic on the following social media platforms.
- GitHub +10K commits have been done on their repository
- Twitter +13K followers
- Telegram 7k members
Is ZCL Worth Buying?
In 2017, Zclassic attracted an average price of $1.7. By the end of 2017, when Bitcoin had surged up to $20,000, ZCL had reached as high as $93. By 7th January 2018, ZCL had reached $248 with a market cap of over $400 million. Thereafter, the price fluctuated to touch a low of $61 on February 6th when the rest of coins had plunged in price.
The coin has since then regained its strength. Currently, the coin is trading at about $173 with a market cap of about $375 million when we started writing this article.
However, when we finished this article, the price of Zclassic had dropped to less than $10. In the other words, the price of Zclassic completely crashed! Take a look at the chart below:
ZCL Price Prediction for 2018
It is a bit hard to predict whether Zclassic is headed to the moon or whether it is about to crash even more. It has recently gone all the way from +$200 to less than $10 so we can safely say that Zclassic has a huge volatility and something strange is happening with this cryptocurrency.
Conclusion – Is Zclassic a Good Investment?
I don’t think so! Given the market volatility of this coin, it is not safe to invest in it. I will urge you not to buy or trade Zclassic as an investment but purely speculation. However, it is possible for you to profit from an increase in the price of ZCL, and shorting the coin may make you profit from a market crash.
However, there is so much uncertainty in the market, and you can only make an educated guess about the direction of the price or the market mood. If you are not aware of the fundamentals, then you will almost be gambling.
We advise you to learn more about making money with cryptocurrencies here so you will avoid big losses.
If you want to maximize your online revenue (with or without) cryptocurrencies, we advise you to take a look at this step-by-step training. It has taken the founder of this website (Roope Kiuttu) from a complete newbie into a full-time online entrepreneur.
What are your thoughts on ZClassic?
Have you Invested in ZClassic?
Let’s discuss in the comments below!
(Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice.)