By building upon the Zcash codebase, Ycash leverages Zcash's solution to The Privacy Problem. Through periodic changes to Ycash's mining algorithm, Ycash also aims to address The Distribution Problem by ensuring that 90% of the coins would be distributed via the mining process. With 5% of the coins starting at block height 570,000 going to the Ycash Development Fund (managed by the nonprofit Ycash Foundation), 90% of the total 21 million Ycash coins will be allocated via the free market mining process.
How to Buy YEC on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing YEC. Some reputable platforms include LBNK, Okx, Kraken, and others.
Step 2: Register an Account
Here, we'll register an account on the OKX (registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing YEC.
Step 5: Purchase YEC
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of YEC you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy YEC.
Step 6: Store Your YEC
After purchasing, you can choose to store your YEC in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and YEC assets, be sure to use a strong password and enable two-factor authentication.
YEC Price:Ycash is a chain fork of Zcash. It has a shared blockchain history. The price fluctuates daily, and as of first half of 2024, the highest price for YEC was $1.17.
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