PIVX wallet

Colin Baseman

PIVX is a digital asset developed specifically for secure transactions between users. Its main policy is the complete privacy of transfers.

History

The PIVX digital currency appeared in 2016 as a project of the DASH fork. The creators adopted the BTC operation principles including its code as a basis. Nevertheless, according to developers, their cryptocurrency is doing an exclusive thing - fully anonymous transfers.

The privacy of the crypto investor's data has become the key slogan of PIVX. Initially, this crypto-coin was called DarkNet, and later it was renamed to PIVX - confidential, prompt, transactions (Privacy Instant Verified Transaction).

At first, PIVX adopted the Proof of Work principle and after six months switched to Proof of Stake 3.0.

The creators borrowed the cryptographic Protocol for PIVX operation from Zerocoin. This Protocol allows users to turn open PIVX transfers into completely anonymous ones, that the founders call zPIV.

Each crypto enthusiast can choose whether to conduct an open transaction or use an anonymous one.

PIVX Team

The exchange creators’ names are kept secret. According to open sources, the PIVX team consists of more than 20 people, of which a major part is C++ and JavaScript developers, system administrators, and application design specialists. Much attention is paid to interaction with the community: several specialists are engaged in technical and informational sustenance of the venture.

PIVX Wallet features

PIVX currency combines only the optimal characteristics of the digital currencies from which it originated. The primary distinction between PIVX and DASH is that merely master nodes have the right to vote in the DASH network. This contradicts the basic decentralization principle. All partakers have the authorization to vote in the PIVX network.

As PIVX now operates on the PoS principle, blocks are not found by mining, but by proving ownership of a share. All the nodes need to hold a definite amount of cryptocurrency on their wallets to verify the block.

The network contains masternodes, which provide additional services for the entire network. Their responsibilities include "mixing crypto coins" to improve the confidentiality of transfers, processing instant transfers, and decentralized management that serves the overall budget and voting on main issues.

  • Masternodes also receive rewards for this, which are allocated as follows: 10% goes to the overall budget, and the remaining 90% goes to users for block mining.
  • To obtain a masternode, a wallet owner must pay a Deposit of 10 000 amount of coins.

Another feature of PIVX is its instant transactions. As a result of the group’s invention SwiftTX. , transfers are confirmed within a few seconds. These transactions of masternode verify their purchases.

As stated by the founders of the crypto asset, their wallet is perfect for businesses related to small payments. The asset can be used to pay for utilities or make minor transactions throughout the world.

The developers plan to significantly improve the existing wallet.

  • Last year, a mobile version for iOS appeared. Inside the PIVX wallet itself, you can offer your ideas for improving the work, and embed the zPIV exchange service into it.
  • Usually, a money transfer on the PIVX Wallet does not take more than 5 minutes.
  • The Commission is up to $0.1 dependent on the amount.

Where to purchase PIVX

The only way to purchase tokens for rubles or dollars is to refer to the Livecoin exchange. It allows adding funds to your balance using Russian payment systems and Bank transfers. In practice, buying cryptocurrency on Livecoin is difficult due to low trading volumes, which is especially evident in the PIVX/USD pair.

The optimal way to buy the token is to exchange for Bitcoins using the Bittrex exchange. The PIVX/BTC pair provides sufficient liquidity both for the purchase of big amounts as well as for active trading.

To purchase PIVX for tokens, you may opt for the Binance website and go through the registration procedure.

  • To do this, click Register on the main page.
  • Binance will require you to create an email address and a password.
  • You need to get a token to buy a PIVX coin in the Funds section. Select the currency to buy and click Deposit.
  • Next, the Wallet will provide an address to which you can send the tokens.
  • To purchase PIVX, go to the Exchange section, find the token, create order, and complete the transaction.

Three optimal exchanges where you may purchase PIVX for Fiat are - Coinroom, LiteBit.eu, and Livecoin. On them, the asset is sold for dollars, euros, and Polish zlotys.

Prospects of the wallet

PIVX is a truly anonymous digital wallet that cares about the privacy of crypto investors ' data. If you do not want to disclose personal data, zPIV is a great choice. PIVX Wallet can as well be a good option for investment as transfers are fast, cheap, and it is impossible to track them.

The network has a strong development team. Updates are regularly released to improve the stability and security of the system. The team plans to switch to the Zerocoin Protocol, add new features, and create an encrypted messaging system.

PIVX Coin showed major growth during a short period. PIVX assets once entered the TOP 10 blockchain projects by market cap.

Investors see the prospect of further development of the token, as it is a promising digital currency and wallet for use.