Users can Sign Up for a free Bitbns account from any web browser. Users will have to sign with email id and enter personal information to get started.
Then by clicking on the activation link received at the email address indicated, Bitbns account gets created. Next, PAN card, bank account details, and Aadhaar card documents should be uploaded. This process enables Bitbns in following KYC guidelines.
After KYC documents validation (takes only 30 minutes), investors will be notified about account activation via email.
using NEFT/RTGS/IMPS or UPI investors can send funds to their Bitbns account and begin purchasing ZCoin (XZC) instantly.
Transfer of ZCoin (XZC) from/into Bitbns account to other wallets is also possible which is just a 10 minute process on the Bitbns website.
ZCoin (XZC) was founded by Poranim Insom who is also the lead developer of the project. The ZCoin is based on the ZeroCoin protocol, which guarantees the anonymity of financial exchanges thanks to ZK-Snarks technology. The purpose of this crypto is to mitigate security drawbacks and improve data encryption.
At present, most existing cryptocurrencies, including Bitcoin, are not really anonymous since all transactions are recorded in the blockchain and publicly available. ZCoin therefore proposes to correct these problems by using advanced encryption techniques that prevent payments from being tracked by anyone.
The XZC token follows the same rewards cycle as Bitcoin (every 4 years) and will be issued at 21 million units maximum. ZCoin is based on the Lyra2RE mining function, which is designed to make the mining of money accessible to as many people as possible. This algorithm is very favorable to minors who use CPU power.
Zcoin, the cryptocurrency driven by privacy, has proudly announced the first implementation of MTP (Merkle Tree Proof), an algorithm that offers a high level of security, performance and equal computing. The cryptocurrency will be the first to use the Zero-Knowledge tests for anonymity and financial privacy.
The developers of the successful 'Equihash' project, Alex Biryukov and Dmitry Kovratovich pioneered the Merkle Tree Proof (MTP) Work Test together in an academic work. Once implemented correctly, MTP will offer a solution to the disparity between normal miners and regular energy users, who currently gain an advantage through the use of GPUs, FPGAs and ASICs to fuel a cheap attack.
The main developer of Zcoin, Poramin Insom, considers centralization as one of the biggest challenges of PoW. He affirms, that in a network that is dominated by ASICS, security is left to few people who have the capital and technology to master the hash rate. It has been argued that with ASICS, the network is more secure due to the increase in the hash rate. In the XZC team’s opinion, it is not the absolute hash rate that matters, but rather the cost and entry barriers that one needs to overcome to reach the network.
Bitbns was founded in 2017 by BuyHatke Internet Pvt Ltd whose team has a shared interest in cryptocurrencies and experience in online security. Having a Bitbns account requires minimum possible personal information for verification. Account verification process with Bitbns is faster than many other competing exchanges in the market. Also the trading platform lists many other cryptocurrencies.