Zcash to USD exchange?

General
1

Hello

Is there any direct Zcash to USD exchange so I wont have to go from ZEC to BTC then to USD?

Thanks

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2

Bitfinex, Kraken, and Poloniex, amongst others.

3

How do I do this with Poloniex? When I’m selling my Zcash it’s automatically converted to BTC, I want Zcash to be converted to USD directly.

4

Why do you have 2 threads going for the same thing?

2 Likes
5

I thought no one was going to answer in that category :fearful:

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6

kraken is prolly best for USD-ZEC
be aware, kraken is great when they get you on boarded, but there seems to be a bottleneck currently… imo, this is having a slowing effect on ZEC’s growth.

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7

you've to to be patient though because the first two tiers only let you trade cryptos, and tier 3 is when you can trade with usd.

8

How long will that take?

9

kraken.com offers this. Don’t know about anywhere else as I’ve only used kraken. However, I’ve never used them to convert to fiat so I have no idea how well it works out. I know they charge a $10 fee to withdraw.

10

10$? That’s way too much

11

There are other more inconvenient ways of doing it but somewhere, a fee is going to be taken. Whether it’s from the money being sent or being received. Moving the funds around through multiple exchanges or wallets will extract fees as well. Maybe not $10 worth, but still pretty close. I’ve withdrawn funds through Quadriga for instance, through Paypal which is a “No fee” option from Quadriga, however Paypal snags 3% regardless. That’s just one example of course.

I wouldn’t mind learning of cheaper ways convert from crypto to fiat.

12

Got tier 4 verified on Kraken in just a couple of days. They do take a $5 withdrawl fee which is not bad. Have had no issues with them.

13

I transfered 0.1zec to Cryptonator and exchanged it to 35 euros today. The withdrawal fee is 1% and a minimum is one dollar. So if you cash out 100 or 35, the fee is 1$. Im not a hundred percent sure that when i converted from zec to eur, they didnt get a % there too. If they didnt then the 1% is extremely low. Will find out in a couple of days if that Sepa bank transfer actually arrives on my bank account :slight_smile:

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14

That’s all well and good, however Cryptonator for me wants to withdraw to Payeer. I’m not very fond of them.

15

Why don’t you like Payeer?

16

For one, I’ve been battling with their support to get my account verified. I provided driver’s license and a credit card statement.

  • First they complained that it was edited (which it was not).
  • Then they complained it was in PDF format
  • Then they wanted my passport (which I don’t have at the moment).
  • Then they asked for my credit card statement to be within 120 days (it was).
  • Then they asked what I was going to do with my account, which I explained in full detail as I have nothing to hide. Their response was basically a repeat of the above. They don’t appear to actually read responses. I told them I’ve been verified on other sites with no issues and I’ll stick to how I’ve been doing it since Payeer is such a hassle. They responded with asking me for the information again.
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17

I didn’t know about that verification process…that’s not like Paypal at all. what have you been using as an exchange that’s easier to process and get your money?

18

I’m not sure where the comparison to PayPal came from?

Anyway, at the moment this is my process:

  • Use Cryptonator to convert ZEC to BTC.
  • Move BTC to QuadrigaCX.
  • Sell BTC.
  • Transfer to PayPal.
  • Transfer from PayPal to bank account.

My other option is:

  • Sell ZEC on Kraken.
  • Transfer USD to bank account.

As amazing as that would be (I am verified with Kraken), it takes 7-15 Business Days to transfer to a CAD bank account. Which is insane. If I go the Quadriga+PayPal route, I have the funds in my account within 2-3 Business Days. One day to process transfer to PayPal and one day to process transfer to bank account. I’m just tired of all of the various fees and then to boot, PayPal charges 3% because Quadriga is considered a “business”.

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19

when you convert ZEC to BTC on Cryptonator, is there a fee?

20

There is no fee to convert.

Edit: However, I should note that it takes an average of a few exchanges. It does not use one directly. So while on Kraken the last trade was 1 ZEC = 0.14880 BTC, on Cryptonator 1 ZEC = 0.14230 BTC.

On the flip side of that, it does lag slightly when averaging so you can convert sometimes at a gain when Kraken is trading a bit lower.

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