Todays post is based on How to Buy Zcoin.
We always talk about Bitcoin, Ethereum and like these cryptocurrency there are also several Altcoins available in the cryptocurrency. Today Bitcoin and Ethereum are famous because it is giving users lots of profit. Meanwhile with the profit the price of Bitcoin and Ethereum is also increasing.
As we all know the price of Bitcoin is increased and everyone cannot afford to buy it. So most of the people are trying to search for another cryptocurrency to invest and also affordable.
This is where we can see Zcoin. In Addition to that I am receiving lots of question regarding “how to Buy Zcoin?”
So in this post we will see the best ways to buy Zcoin.
What is Zcoin ?
Zcoin, also known as XZC or Zerocoin. It is an open source decentralized cryptocurrency that focuses on achieving privacy and anonymity for its users while transacting.
The Zerocoin Protocol is an example of a zero knowledge proof, which is a way of proving that you have some information without revealing what that information is.
For instance, let’s say you’re asked to prove that you have a password to a computer by a friend. Your friend stands out of site while you type in the password, and then comes back after the computer is unlocked. You’ve just proven that you know the password without revealing what the password is.
Zcoin’s idea was proposed by Johns Hopkins University professor Matthew D. Green and Graduate students Ian Miers and Christina Garman as an extension to the Bitcoin protoco
Setup Zcoin wallet ?
The first thing we need is a secure wallet to store your Zcoin safely. Choose file in your PC and download the File. When the download is complete unzip the file and run the installation process.
Select your Default location when the program ask where to install the file. Now your wallet is done and ready to use.
Your wallet will sync with the Zcoin blockchain. This will take some hours. Meanwhile you can secure your wallet. Press setting and then click on “Encrypt wallet”. Re-enter your password and secure your wallet.
Press “file” and “Backup wallet”.
You will be prompted to save a file. Save the file somewhere you can easily find it, such as your desktop.
Now back this file up somewhere safe and private, such as a USB stick.
Press “Receive” and then “Request Payment”. You will see your wallet address. Copy it down and keep it somewhere safe.
Now you can purchase any cryptocurrency to exchange it for Zcoin.
How to Buy Zcoin using Bittrex ?
In order to trade Zcoin on Bittrex first you need an account on this platform.
For making an account on Bittrex click on the sign up Button and verify your email. Do the all verification process. If you want full information on how to verify and make an account on Bittrex you can refer our post on Bittrex Review.
After than login to your account. Click on the “wallet” tab in the menu.
Click to the Deposit Button next to the Bitcoin that is Plus (+) sign.
Bittrex platform will Deposit your Bitcoin. If you don’t know about how to Deposit xryptocurrency on Bittrex from another platform refer our Bittrex post. Now go the market page of the Bittrex. Click on the Logo of Bittrex.
Search for Zcoin. for Doing so type XZC in the search Bar. This is the short name of the Zcoin.
So now you can buy Zcoin. you wil have to choose in between three option when buying Zcoin. the options are Last, ask and Bid. Last prices are previous rate of the coin.. Ask is the price what sellers are asking for the Coin. Bid is the price what buyers are asking to buy the the coin.
When you type the amount you want to buy and at what price per unit that means you are creating a order. It will be Filled in corresponding sellers.
If there is no one selling at the price you are asking for then your order will remain open. Exchange platform will freeze the allocated fund.
Suppose we take the asked price option. Click on the “Buy Zcoin” button under the trading option. In addition to that you will see a popup. Fill your price, quantity and required details. Click on the confirm button. You have your Zcoin.
You can transfer your Zcoin into a wallet to store it safe. If you want help on wallets read our post on best cryptocurrency exchange wallets.
Zcoin is making his presense slowly in the cryptocurrency market. You can purchase it if you are looking for a long term investment profit. In addition to that you can also store it for short term profit also. Every cryptocurrency starts from a low prize but no one knows that how far it will go and how much profit it will give you.
That’s all for how to buy Zcoin. if you have any doubts please let me know the comment section.
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