Did someone say privacy by default? Let’s break down why Gemini’s latest Zcash update is a game-changer.
Last week, Gemini set a new benchmark for how centralized exchanges support Zcash withdrawals. With their latest update, users can now withdraw ZEC directly into the Orchard shielded pool, the most advanced and secure privacy layer available to blockchain users.
That means Zashi users, especially those using Keystone hardware wallets, now get seamless, private withdrawals from Gemini with no extra steps or workarounds.
How It Worked Before
Gemini has long been ahead of the pack in supporting Zcash’s privacy features. Even before this update, it was the only major exchange to offer shielded ZEC withdrawals, specifically into Sapling, Zcash’s older shielded pool. This worked well for many Zashi users, but not all.
- Keystone Wallet users couldn’t withdraw directly to their hardware wallets, since Keystone supports only Orchard, the latest shielded pool, introduced in 2022, and designed to eliminate Trusted Setup.
- If a Unified Address (UA) didn’t include a Sapling receiver, Gemini would reject the address as invalid.
- Zashi UAs usually have included Sapling receivers so that users could make shielded withdrawals successfully, and the funds were sent to the Sapling shielded pool.
In short, Gemini supported privacy before anyone else, but the experience still had some friction that often left users confused.
What’s Changed
Now, Gemini supports withdrawals directly to Orchard, the latest Zcash shielded pool that doesn’t rely on a trusted setup. That means:
- Keystone users can finally withdraw shielded ZEC straight to their hardware wallets.
- Zashi users can now withdraw shielded ZEC directly into the Orchard pool, whether they’re using the main Zashi wallet or connecting to Keystone.
- Gemini automatically chooses the most secure shielded option inside the Unified Address. No more invalid address errors: it just works.
This update brings Gemini fully in line with how Zcash is meant to work in 2025: offering frictionless, best-in-class privacy.
Zcash on Other Exchanges
Today, all other centralized exchanges have chosen only to support withdrawals to transparent addresses. This has fueled confusion and misinformed criticism of Zcash’s privacy architecture. Here’s the reality: in the current crypto ecosystem, Zcash’s dual-address system is a feature, not a bug.
- Transparent ZEC shares its codebase with Bitcoin, which makes it easy for exchanges to support with minimal effort using existing infrastructure.
- Supporting shielded ZEC, on the other hand, requires deeper technical understanding and additional development work—something teams with a true commitment to privacy are willing to take on.
- Transparent ZEC is not the final destination. It’s meant to be used as a bridge to shielded ZEC. It’s a mere adapter that makes Zcash easy for other platforms and teams to support, enabling broader adoption.
- Users can move from transparent ZEC to shielded ZEC at any time, with just a tap in wallets like Zashi.
Some have misunderstood this design, claiming that because transparent ZEC exists, Zcash isn’t “really private.” But they miss the point: best-in-class, mathematically provable privacy is available on demand. Just choose to use it.
Until exchanges follow Gemini’s example and catch up, transparent ZEC remains a necessary and temporary on-ramp, one that expands access to this world-class privacy tool.
Gemini the GOAT
Gemini has consistently gone above and beyond:
- First major exchange to enable shielded ZEC withdrawals
- Only one to support both Sapling and Orchard
- Only one to align fully with modern Zcash privacy standards
While other exchanges shy away from supporting shielded ZEC due to compliance concerns or a lack of engineering commitment, Gemini stepped up. They’ve shown what’s possible when a centralized exchange chooses to prioritize user privacy.
Implementing shielded ZEC withdrawals isn’t trivial. It requires technical investment and clear intent. Gemini has proven that privacy is simply a choice that requires vision.
This is a big win for shielded ZEC adoption.
Shields up.
