Liberalcoins Integrates Privacy Coin Zcash
Liberalcoins, a peer-to-peer exchange has announced the integration of Zcash into its platform, expanding its offering of privacy coins. This follows the platform's recent implementation of full SegWit (Bech 32) addresses.
Liberalcoins chose to integrate Zcash because it is one of the most promising privacy coins. Zcash uses zero-knowledge proofs, allowing nodes to confirm that transactions are accurate without being able to see the transaction data. This allows for a truly private coin on a public blockchain.
Liberalcoins aim to become the new home for local Zcash traders. One of the benefits of Liberalcoins is that users do not have to fulfill the KYC protocols that are common on most major exchanges. These protocols require users to provide personal details, such as a photograph of their passport, in order to access services. Exchanges hold this data, meaning that it has the potential to be stolen by hackers.
According to Founder Simon Lange: “we are delighted to expand our range of privacy coins. We are the first local peer-to-peer exchange that offers Zcash and we hope to become the home of Zcash trading. Privacy is important to us as a company – and to our users. We hope to continue this development.”
Liberalcoins offers some of the lowest fees in the peer-to-peer market. Fees start from 0.5% per transaction. Liberalcoins believes that users should not have to make sacrifices in order to keep their personal information and trading private.
Liberalcoins recently implemented full SegWit (Bech 32) addresses. Bech 32 is a new Bitcoin address format. Currently, Liberalcoins is the only exchange that allows users to both send and receive funds to these types of addresses.
Liberalcoins use an escrow system that keeps every transaction safe. The escrow system ensures the safety of funds by releasing coins once the transaction has been completed. Liberalcoins also offers the option of an instant and anonymous exchange between the cryptocurrencies that the company supports. This allows for maximum flexibility, security, freedom and privacy when trading digital currencies.
Individuals are able to create advertisements and negotiate market prices on the site. It is a global system that allows users to trade cryptocurrencies in person or exchange them over the online peer-to-peer exchange. Users keep their information private while using the exchange and Liberalcoins does not use Google Analytics to track user information.