Zcoin (XZC) is an open-source privacy-focused cryptocurrency token that launched in Sep 2016. To enable privacy, Zcoin uses zero-knowledge proofs via the Zerocoin protocol. Zerocoin is a cryptocurrency proposed by Johns Hopkins University professor Matthew D. Green and graduate students Ian Miers and Christina Garman as an extension to the Bitcoin protocol that would add cryptographic anonymity to Bitcoin transactions.
With Zcoin’s Zerocoin feature, only the sender and receive would be able to ascertain the exchange of funds in a given transaction, as no transaction histories are linked to the actual coins. Zcoin operates a multi-node model where mining nodes verify blockchain transactions and Znodes store blockchain data.
Best 4 Wallet For Storing Zcoin
1.Ledger Nano S
Ledge Nano is a USB sized hardware wallet specially designed for the cryptocurrency. As I have mentioned previously, the hardware wallets are expensive, so do this one but in return, you get a lot of features which are hard to find in any other type of cryptocurrency wallets, especially in terms of security and backup of your private key for the digital currency.
Ledge Nano S is not a plug and play type device. This means that you do not need to have a computer to use this wallet. The small LCD screen in the front of the wallet will allow you to operate your cryptocurrency wallet easily. It will allow you to do functions like transaction, exchange your digital currency, use the related apps and transfer money from one account to another account within seconds.
2. Desktop Wallet
It is a GUI wallet, meaning it will allow you to use it by interacting with a graphical user interface.
It is a synchronizing wallet, which means it will take some time to sync with the entire blockchain. Once the sync is complete, you can make a new wallet by backing up your seed key. You can also take a backup of your wallet by exporting your private key.
This wallet will also help you earn dividends by allowing you to stake your PIVX on it, and the same wallet can be used to run full node masternodes. Using this, you can also perform anonymous transactions that go through a mandatory Zerocoin protocol.
At present, it is available for Windows, Mac, and Linux operating systems, and it is highly recommended by the dev team that you should not use a version of the wallet that is 3.0.3 or below.
3. Coinomi (Mobile Wallet)
Coinomi is a popular multi-currency HD wallet that supports a plethora of cryptos, including PIVX. It allows you to control your private keys by providing you with an 18-word long seed key for the wallet. Using this seed key, you can restore your Coinomi wallet at any time in case your device is lost or damaged.
Currently, it supports a maximum number of cryptocurrencies in the market and requires no ID verification or email login to start using it. It also allows you to sweep paper wallets for some cryptocurrencies, which I think is a pretty neat feature.
Another feature that I believe makes this wallet unique is its inbuilt coin exchange integration with both Changelly and ShapeShift, which I haven’t seen in any other wallet.
Tips for securely storing your Golem
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.