Do you invest in Bitcoin? Bitcoin is certainly the highest ranking cryptocurrency right now, but everybody knows that there is the chance that it will not be forever. What will you do then?
Cryptocurrencies, unlike Bitcoin, are 100% surely here to stay. Because of this, a good investor has to create a good cryptocurrency portfolio if he wants to diversify his investments and obtain the best results when he needs to.
Fortunately for you, our company’s greatest objective is to provide you the best quality information that you can get. Because of this, we review many investments and new cryptocurrencies on our blog. Today, our subject is a project called Zerocoin.
What Is Zerocoin?
The Zerocoin Project is the name of the project aimed to create a really private cryptocurrency. The creators of Zerocoin state that Bitcoin is not really private. Because it utilizes a public blockchain for every transaction, you will be able to track what someone bought using Bitcoin even years later. That is really not private at all.
Bitcoin tries to fix this problem by using public keys as identifiers, but there is already some sites that try to discover who is using Bitcoin to pay for things. This will likely increase in the future, so people might be able to discover if you use Bitcoin to pay for something and that can really hurt the anonymity promised by Bitcoin. Zerocoin wants to protect you from that.
The Zerocoin Project staff states that they are not creating their system to help individuals doing illegal activities, as they already can do that without Zerocoin, but to give legitimate users the chance to be anonymous in a time which this is more and more a rare commodity.
It is important to notice that the Zerocoin Project is not a company or a commercial enterprise, but a group of Bitcoin enthusiasts that want people to use Bitcoin and cryptocurrencies better, so they will not charge for their services.
How Does Zerocoin Work?
What Zerocoin does is to utilize Bitcoin’s protocol, but change some of its technology to be more anonymous. This way, the users will be protected when they need to hide their identities for any reason that might want to do that.
Users can convert Bitcoins into Zerocoins to use them and be anonymous on the internet. The users can even convert the Zerocoins into Bitcoins back if they do not want to use them anymore. The process is simple and can be done easily.
How To Invest In Zerocoin?
You will not be able to invest in this project by buying tokens in their Initial Coin Offering (ICO) because there is not any ICO. Zerocoins are basically Bitcoins that you can use without people being able to track you.
All you have to do if you want to do Zerocoin is to buy Bitcoin normally and then use the process described in the project’s site to transform your Bitcoin into Zerocoin and finally be able to use this cryptocurrency truly anonymously.
Is this a good investment? Yes. Why not? Zerocoin is free, after all. If you are not especially concerned about your anonymity on the internet, you will probably not have many reasons to use this cryptocurrency, but it does not really cost anything to convert your Bitcoins, so it can be a great idea to use Zerocoin.
It looks like there is no downside to using this company, so you can really feel free to use it if you want to protect your identity online and purchase whatever you want without being afraid that your family or your neighbors will find out.