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Zcoin is a digital cryptocurrency that uses the Zerocoin Protocol to allow private transactions. This Protocol uses zero-knowledge proofs to guarantee anonymity to Zcoin users.
Zcoin is available on a number of popular cryptocurrency exchanges, including:
This is our quick guide to just one way to buy XZC. Compare some other options in the table below.
If you want to buy XZC in Australia, here’s an example of how you can do it:
CoinSpot is a local cryptocurrency exchange that allows you to exchange Australian dollars (AUD) for a number of cryptocurrencies, including Zcoin. You can sign up for a free account by providing your email address and creating a password.
Click the “Deposit AUD” link from your CoinSpot account dashboard to make an online deposit via POLi Payments or BPay. If you haven’t done so already, you’ll need to provide a range of additional information to verify your account. CoinSpot will ask for your email address, phone number, full name, address and proof of ID.
Once verified, click on the “Buy/Sell” link from the menu at the top of your account dashboard. Search for “XZC” and check the current price available. By clicking on the “Buy XZC” link, you’ll be taken to a screen where you can specify either:
Next, click “Buy” and review the details of your transaction, including the amount of XZC you’re about to purchase and the total cost (including the transaction fee). Click “Confirm Buy” to finalise your purchase. NB: Many cryptocurrency exchanges don’t offer the option of exchanging fiat currency (ie AUD) for XZC. Instead, you may need to purchase Bitcoin (BTC), Litecoin (LTC) or Ethereum (ETH), or any other crypto offered in an XZC pairing, and then exchange that cryptocurrency for XZC.
If you want to sell XZC that you already hold, the steps you need to follow are very similar to those listed above, with the obvious difference that you’ll be clicking on the “Sell XZC” link. You will then need to follow the prompts to exchange XZC for your chosen currency, which could be a cryptocurrency or, on some exchanges, fiat currency such as AUD.
The Zcoin official wallet is available for download from the Zcoin website. This wallet works on both Windows and Mac operating systems, while you also have the option to download the Coinomi Wallet from Google Play for use on Android devices.
While there’s a widely-held belief among the general population that bitcoin and all other cryptocurrencies are completely anonymous, this isn’t actually the case. As all transactions are kept on a public ledger called the blockchain and readily available to anyone savvy enough to do some digging, law enforcement agencies and researchers have made significant progress towards identifying the people behind cryptocurrency transactions. The Zerocoin Protocol was created in 2013 and was originally meant to be a bitcoin extension. It uses zero-knowledge proofs, which are basically a method of proving something without giving away any data, with the aim of providing private and secure transactions. Performing private transactions with Zcoin involves three steps:
Zcoin was released to the public in September 2016 by Poramin Insom, the founder and lead developer of this cryptocurrency project.
Cryptocurrencies are complex and speculative, and it’s essential that you’re fully aware of the risks involved before purchasing or holding any cryptocurrency. If you’re thinking of buying ZCoin, make sure you consider the following factors first:
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