Today Coinbase announced support for Zcash trading on Coinbase Pro. This provides over 20 million Coinbase customers with access to Zcash and is the first privacy-protecting currency listed on Coinbase.
In their press release, Coinbase said that they “…will support deposits from both transparent and shielded addresses, but only support withdrawals to transparent addresses. In the future, we’ll explore support for withdrawals to shielded addresses in locations where it complies with local laws.”
Coinbase also described the distinction between Zcash’s transparent and shielded transactions as analogous to the distinction between unencrypted HTTP and encrypted HTTPS. This is true. However, transparent addresses work just like Bitcoin and most other cryptocurrencies. As such, the analogy extends to every cryptocurrency that is without encryption to protect user privacy....
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