What is PIVX?
PIVX is an open-source cryptocurrency that uses blockchain technology and focuses on privacy. Launched in 2016, the main aim of PIVX is to achieve a decentralised cryptocurrency that enables instant private transactions. PIVX utilizes Proof of Stake protocol and allows owners to earn block rewards as well as secure the network. It was forked from Dash cryptocurrency and was originally called Darknet (DNET).
Features of PIVX
PIVX uses a Zerocoin protocol provides privacy by converting publicly viewable PIV into anonymous PIV. The Zerocoin implementation is called zPIV. Moreover, PIVX uses SwiftTX technology by which users can confirm and spend transactions within seconds without the need to wait for multiple confirmations.
Private transactions: All the transactions with PIVX are private and untraceable.
Low Fees: PIVX comes with block rewards and a self funded governance model. Hence, it does not require transaction fees which effectively reduces the total PIVX coins supply.
Instant Transactions: PIVX can be used for PoS (point-of-sale) situations thanks to the SwiftTX technology which confirms and sends a payment in less than a second securely.
Decentralised: It is completely decentralised does not have a single point of failure. PIVX is not governed by any authority.
Where to buy PIVX
The PIVX tokens are listed on stock exchanges like Bittrex, Binance, Upbit, Cryptopia, Coinroom, YoBit, Livecoin. The market capitalisation of PIVX at the time of writing this article was $334,113,997.
PIVX tokens cannot be mined as they are already pre-mined.
PIVX has its own desktop wallet for Linux, Windows, Mac and Android. The price of 1 PIVX token at the time of writing this article was $5.95. The total PIVX coin supply is over 55 million.
Risks involved with investing in PIVX
Cryptocurrencies are volatile in nature and it is hence risky to invest in them. They are also subject to regulations and policies. Hence, investing in mutual funds is a better option as it is more reliable and secure.