Zcoin (also known as XZC) is a cryptocurrency aimed at providing users with total secrecy and interchangeability. If you want to use XZC, you must first create a wallet to safely keep and handle your money. In this tutorial, we will walk you through the process of creating a Zcoin wallet.
Understand the types of wallets available
Before beginning the setup procedure, it is critical to understand the various types of XZC wallets accessible. There are essentially two types of e-wallets available:
- Full Node Wallet
This sort of account necessitates downloading the whole XZC blockchain. It gives you total control over your money and an unprecedented degree of security. However, putting up a complete node e-wallet may be tedious and resource-intensive.
- Light Wallet
A light wallet, referred to as an SPV wallet (Simplified Payment Verification), does not necessitate the download of the whole blockchain. It links to external servers for payment validation, making it more rapid and efficient. However, because you rely on third-party servers to validate operations, it is not as safe as a standalone e-wallet.
Choose a Zcoin Wallet
Once you understand the types of e-wallets available, you need to choose a XZC account that suits your needs. Some popular e-wallets for XZC include:
- Zcoin Core
This is the official wallet developed by the XZC team. It is a full node e-wallet that offers advanced privacy features and complete control over your funds. However, it requires you to download the entire blockchain, which can take up a significant amount of storage space.
- ZelCore
ZelCore is a multi-asset wallet that supports various cryptocurrencies, including XZC. It is a light e-wallet that offers a user-friendly interface and convenient features such as portfolio tracking. ZelCore also provides integration with hardware e-wallets for added security.
- Coinomi
Coinomi is a popular multi-asset wallet available for both desktop and mobile devices. It supports a wide range of cryptocurrencies, including Zcoin. Coinomi offers a simple and intuitive interface, making it suitable for beginners.
Download and install the wallet
After you’ve decided on an account, you’ll need to acquire and activate it on your smartphone. Look for the download link on the official website of the e-wallet you choose. To prevent any security problems, make sure to get the account from the company’s web page.
Follow the setting-up guidelines supplied by the e-wallet creator after installing the wallet. The procedure will differ based on the e-wallet you use and the system you are running.
Set up the wallet
After installing the wallet, you must configure it either creating a new e-wallet or importing a current one. When you establish a new account, you will be asked to create a strong password. To protect the security of your cash, select a password that is both unique and difficult to guess.
If you are importing an existing account, you will need to enter the account’s seed phrase or private key. The seed phrase is a sequence of words that serves as a backup of your account. Make sure to keep your seed phrase secure and never share it with anyone.
Backup Your wallet
Following the setup of your account, it is critical to generate a backup to secure your cash in the event of device loss or failure. Most wallets let you to save a backup file or print a paper account. Follow the wallet’s guidelines to build a backup and keep it in an encrypted and safe place.
Receive and send XZC
Now that your wallet has been configured, you may begin receiving and transferring XZC. Simply supply the sender with your wallet address to get Zcoin. The sender can then begin a transaction, and your account will be credited with XZC.
To send Zcoin, enter the recipient’s wallet address as well as the amount you wish to send. Because blockchain transactions are irrevocable, double-check the recipient’s address to avoid errors.
Keep your wallet updated
Keep your wallet upgraded with the most current version issued by the wallet creator to maintain its security and operation. Bug fixes, security upgrades, and new features are frequently included in account updates. Checking for and applying updates on a regular basis will help secure your cash and maintain a seamless user experience.
To summarize, creating a wallet for XZC is a simple procedure that entails selecting a wallet, downloading and installing it, configuring it, and backing it up. By following the methods indicated in this article, you may safely store and manage your Zcoin while benefiting from the cryptocurrency’s anonymity.
