Create a handy and secure wallet for ZCoin on Guarda — the world’s leading provider of non-custodial cryptocurrency wallets. In this detailed guide, we will show you how to choose a proper wallet and set it up in just a few easy steps.
What is ZCoin crypto?
ZCoin, also known as Zerocoin or XZC, is an open-source decentralized cryptocurrency claiming to offer its users enhanced privacy and anonymity of their transactions. To achieve these goals it leverages zero-knowledge proofs via Zerocoin protocol. The latter was created by the team of cryptographers from Johns Hopkins University (professor Matthew D. Green and graduate students Ian Miers and Christina Garman) in 2013. It was originally designed as an extension to the Bitcoin protocol aimed to improve Bitcoin transactions’ anonymity. The launch of the new cryptocurrency itself occurred in 2015 with the Bitcoin hard-fork. Thus, a new coin with no transaction history appeared. Technically, when someone is sent Zerocoin, the person only knows that some amount was sent to the wallet. Unlike Bitcoin, there’s no information about the sender and receiver. Zero-knowledge proofs prevent the leakage of private information.
Zcoin (XZC) price on CoinMarketCap.
How to store ZCoin?
No matter purchased for fiat, bought on the exchange platform or mined, your XZC assets need a proper storage. Owing to the fact that ZCoin is not so wide-spread as Bitcoin or Ethererum, the range of wallets supporting its blockchain is also not so vast. This makes the choice easier, at first glance. But think of it this way: the fewer variants you have, the bigger your chance to make a mistake. Mere statistics, nothing else. That is why the Guarda team decided to provide you with a list of criteria designed to simplify your search for a decent ZCoin wallet.
Find a secure storage
When it comes to storing crypto, your ultimate goal should be security. We strongly recommend you to look for “non-custodial” (or “custody free”) as one of the wallet characteristics. Non-custodial wallets are much more reliable than custodial ones and are known to significantly reduce the risks of losing money. They do not keep any personal data or private keys, thereby putting the user in charge of the funds and private information.
Look for a regularly updated wallet
It isn’t a secret that for a financial service, security equals constant development. When you’re about to set up a wallet and trust it with your money, check its official website, social media pages and community chats in order to find out the frequency of its updates. Normally, the process of bug fixing, making improvements and adding new features to the product is permanent. If the development team doesn’t seem active enough, you’d better go for some other variant.
Check the user feedback on the wallet
Reading the reviews can be helpful not only for evaluating the wallet’s trustworthiness but also for better understanding its features. Usually, you can find the user feedback on App Store or Google Play dedicated pages for mobile applications, as well as on the specialized review platforms like Trustpilot or CryptoCompare.
While looking through the comments, be observant and pay attention to the developer’s replies. It’s definitely not a good sign if the brand representatives leave many questions unanswered.
Keep in touch with the wallet community
In case you’re new to blockchain technology and cryptocurrency market, joining the wallet community must be especially beneficial. This is so much more than just a good company! Above all, crypto communities are great sources of information: their members surely know the answers to most of your questions and ready to share valuable experience. Check Twitter, Facebook, Telegram, Reddit, Discord, Steemit and GitHub in order to find like-minds among crypto enthusiasts.
Start using your ZCoin wallet
When you made your way through all the points mentioned above and found a trustworthy and convenient wallet for your XZC assets, it’s high time to set it up. Follow the instructions from the next paragraph to make it in just a few easy steps. Though Guarda supports ZCoin cryptocurrency on multiple platforms (web, desktop, mobile and Chrome extension), we decided to explain to you the procedure of creating a web wallet as a basic one.
Create a ZCoin wallet by following these 4 steps:
- Click “Create Wallet” on the main page of Guarda Wallet website;
- Think of a strong password for your ZCoin wallet;
- Download the backup;
- Your ZCoin wallet has just been created!
Step 1. The button you’re looking for is situated in the upper right corner of the Guarda Wallet website. Once you’ll click it, you’ll be redirected to the welcome screen. Choose to create a new wallet again in order to proceed. If you would like to find some extra information on the XZC wallet you’re about to create, please, check the Web Wallet page.
Step 2. Making up a strong password for your new ZCoin wallet is essential. To protect your crypto assets properly, try not to repeat the same password you already use for some other services. Choose a combination of upper/lowercase letters, numbers and symbols. You can find some helpful information on cryptocurrency wallet passwords in our guide.
Step 3. Downloading your backup file and finding a safe place to keep it in is extremely important. You can only log into your Waves wallet with a combination of Guarda wallet backup and the wallet password. As we already mentioned, all Guarda wallets are non-custodial. Hence, the company doesn’t store your backups and cannot access them. Due to this, we won’t be able to restore them in case of loss. Please, make sure to save your backup file and never share it with anyone.
Step 4. Your new wallet for XZC is all set up! Now you can manage ZCoin tokens safely and smoothly with all the features that the Guarda team has prepared for you. Enjoy!