Welcome to Zoin! We want to start by thanking you for joining our amazing community and diverse team from all around the world. Zoin is a community-governed decentralized digital currency with privacy features (based on the Zerocoin protocol). There is no pre-mine and no founder’s reward for Zoin; additionally, it is strictly CPU-minable (see mining section below). Together, these features ensure fairness and transparency to everyone interested in obtaining Zoin. Through this guide you will learn about the current methods of acquiring Zoin for yourself.
How to Earn / Buy Zoin
Right now, there are two ways you can obtain Zoin; you can either trade Bitcoin for Zoin on Cryptopia exchange or you can mine for Zoin using your own hardware.
Method 1: Trading Zoin on Cryptopia
Important: While depositing / transferring Bitcoin may be the simplest way to exchange for Zoin, it is certainly the most expensive right now. We recommend buying an altcoin with a much cheaper transaction fee than Bitcoin’s (Ethereum, Litecoin, etc.), and exchanging it for Bitcoin on Cryptopia, then exchanging to Zoin.
To start, the easiest way to buy a cryptocurrency such as Ethereum or Litecoin is through Coinbase, where you can buy up to $500 worth of Litecoins (for example) using a credit card before you need to verify your identity. Coinbase accepts buyers from 33 countries across the world. A simple guide from Coinbase on buying Litecoin (or Ethereum) with your bank account / credit card is all you need to get started.
Once you have purchased either Litecoin or Ethereum (or another altcoin) you may login to Cryptopia exchange, after you’ve created an account. You must create a deposit address for the same coin that you previously bought on Coinbase or another exchange by clicking deposit under your account, and then typing the name of the coin you wish to deposit.
This will generate an address for your Cryptopia trading wallet to receive coins. You can either copy / paste the address (never type it yourself without verifying it), or scan the QR code if you are sending from a mobile wallet.
Once you make a deposit to your Cryptopia wallet address you must wait for several confirmations before your funds are tradable on Cryptopia. This usually takes around 30 minutes.
When the deposit is confirmed you may go to the Exchange –> Market section of Cryptopia and search for the coin you just deposited. Once you are there, create a sell order and wait for someone to buy it, or choose a buy order for the coin to trade it for Bitcoin right away. Since you just purchased your cryptocurrency, the price probably won’t be very different than when you bought it, but this depends heavily on the current state of the market. Look up how much the current buy orders are (in your country’s currency), if it is close to the price you bought it at then you can sell at that price. Remember, a sell order may not be filled right away, but choosing someone’s buy order will sell it to them instantly.
If you have successfully traded your altcoin for Bitcoin on Cryptopia, you may now use your Bitcoin to buy Zoin. You can buy Zoin through a buy order of your own (bid) or a sell order from someone else; again, this is entirely up to you and how you anticipate the market / price of coins.
Congratulations, you have successfully bought your first Zoin!
The next step is to transfer the Zoin you bought to your own personal Zoin wallet. To do this, download the wallet on your preferred platform and after installing and running the wallet for the first time, wait for the blockchain to fully sync.
Note: If using Linux you may issue the following commands to build and compile your wallet:[optional] sudo chown –R $USER: $HOME
sudo apt-get update
sudo git clone https://github.com/JayDDee/cpuminer-opt
sudo apt-get install build-essential libssl-dev libcurl4-openssl-dev libjansson-
dev libgmp-dev automake
Advanced Optional Step: If you want to synchronize your wallet faster, you can do the following steps:
- Close your wallet (if it’s open).
- Delete the following folders from %appdata% in Windows or Library/Application Support/Zoin on Mac: Blocks, Chainstate and the file peers.dat
- Download the latest blockchain file: https://drive.google.com/open?id=1TwMaUX18SNE9yTcw-yAktBqaG1IX4XJF
- Paste the newly downloaded folders: Block, Chainstate and file peers.dat in ZOIN folder under %appdata% in Windows or Library/Application Support/Zoin on Mac
- Open the wallet and wait for it to synchronize. This should take less time than downloading the entire blockchain and syncing from scratch. The process should take around 30 minutes.
Go to the Receive tab and click on your address, then choose Copy Address. Paste that address on the Cryptopia withdraw page for Zoin and confirm that you want to withdraw. In a few minutes, your Zoin will show up in your wallet (it will be confirmed after 6 confirmations).
Important: Making Your Wallet Secure
After your wallet is up to date and you’ve added some of your coins to it, you will want to make it safe in case something happens.
The first thing you want to do is to encrypt it. You can do this by clicking on Settings –> Encrypt Wallet. You should type in a passphrase that is safe and that you will remember, confirm this passphrase and proceed to encrypt your wallet.
Please be advised, once you set your passphrase you can’t forget it or all your funds will be lost!
Right after your wallet has been encrypted, you should make a backup of it. Click on File –> Backup Wallet and save the wallet as a wallet.dat file
If you want to open your wallet on another computer you may save the wallet file onto a flash drive or other backup device / method you may already have. Remember that if you encrypted your wallet before doing this backup you must know the passphrase in order to access your wallet.
Advanced: Recovering Your Wallet’s Private Key
Another way of recovering your wallet is by finding the private key for the wallet. This can be done in the wallet debug terminal (advanced). For accessing your wallet private key, you must do the following procedure:
First, click Help –> Debug Window –> Console (tab). In the console window, use the dumpprivkey command in the following form
dumpprivkey <wallet address>
After entering this command, you will receive your private key.
You may now write down and save this private key.
If your wallet is encrypted, you must use the command walletpassphrase first.
walletpassphrase <passphrase> <timeout>
Where, <passphrase> is the passphrase you used when you encrypted your wallet and <timeout> is the amount of time you want to unencrypt your wallet for (in seconds).
Method 2: Mining for Zoin
The second way of obtaining Zoin is to earning it by mining, using your own hardware and a mining pool server (we recommend the official pool). Mining Zoin is possible with any modern computer as long as it has a CPU.
To start mining you need to have an account in a “pool”; this is a place where several computers (also known as workers) connect together to mine the blockchain.
As we mine the blockchain, we find blocks which contain a reward (currently 12.5 Zoin) which is shared by the number of total miners depending on each person’s mining rate. The better your hardware is, the more Zoin you will receive from mining.
To get started, visit our official pool and create your mining account.
You will now need to set up a worker. This is your mining device which should be assigned a name and password in order for the network to distinguish your mining rig from others. To do this, visit the Workers section of the page.
The Username must be set for as many workers or computers you want to set up. For example, if the username you chose when signing up to our pool was “john123” and you set your first computer name to worker1. Then your username and worker will be: “john123.worker1”.
If you set a second worker as worker2, your second worker name will be “john123.worker2” and so on. The password will be whatever you choose under the password that box, the password can be the same for all the workers.
Now that your workers are set, you can go ahead and download mining software, which you can get from the Resources page of the official pool.
Once you have the mining software, open the compressed folder by extracting its contents and create a batch (.bat) file which will contain all the info necessary to mine Zoin into your account. To do this, open a text editor such as Notepad and save the file as .bat instead of .txt
This batch file must contain just one line:
cpuminer-aes-avx2.exe -a lyra2zoin -o stratum+tcp://zoin.netabuse.net:3000 -u username.workername -p workerpassword
cpuminer-aes-avx2.exe is the .exe file that you want to use, it depends on your CPU.
Lyra2zoin is the algorithm used by Zoin, that should remain the same.
stratum+tcp://zoin.netabuse.net:3000 is the link to the official pool.
username.workername should be the username you set. (Example: john123.worker1)
workerpassword is the password you set for each worker.
Once you set this batch file, you can run it by double-clicking on it.
Note: Make sure that your Firewall / AV program isn’t blocking cpuminer-aes-avx2.exe or the .bat file in order for it to run successfully.
Finally, you can check all of the mining stats and your earnings from the pool on the main page.
– The Zoin Team