XPR (Proton) is a blockchain making waves in the crypto world. You might be wondering what a blockchain is.
The blockchain is a database that can track any transaction, not just financial ones; that allows for secure, transparent, and tamper-proof transactions. You can use it to track the ownership of digital assets or verify the authenticity of products.
XPR offers several advantages over traditional currencies. For businesses, XPR offers fast transactions and low fees.
For consumers, XPR provides security and convenience. Here’s an introduction to what it is and how it works.
What is XPR?
XPR is a newly launched public blockchain that uses proton technology to make it faster, more secure, and easier to use than other cryptocurrencies.
It was officially launched in San Francisco for consumer applications and peer-to-peer payments. As a user, you can link your actual identity to your fiat accounts, pull funds to acquire crypto, and spend that crypto in applications easily.
How Does XPR Work?
XPR also uses the proton algorithm to make it more secure than other cryptocurrencies. This algorithm allows XPR to be processed much faster than Bitcoin or other cryptocurrencies.
Instead of establishing a permission-less layer on top of standard card networks and banks, Proton eliminates the idea of exchanging private keys directly with merchants.
The user keeps the private key secret while allowing institutions to authenticate and utilize public keys to verify with trustworthy institutions. The responsible institution’s verification will show the user’s identification without releasing the user’s private key.
How Do I Get XPR(Proton)?
You can purchase it directly with fiat currency such as (USD, EUR, CAD, AUD, GBP, etc., or with cryptocurrencies such as BTC and ETH.
- Go to an exchange website such as Kucoin, Digifinex, Bitcoin.com, and so many others.
- Register an account and go through the verification process
- Put money in your wallet using your credit/debit card, PayPal account, or bank transfer.
- Go to the Exchange section and buy the amount of XPR you want to purchase
- Find a wallet to store your XPR if you plan for long-term storage.
Where Can I Store XPR?
XPR is an ERC20 token, so you can store it in any Ethereum wallet that supports ERC20 tokens. We recommend using MyEtherWallet, but you can also opt for MyCrypto.
After purchasing coins, you can keep them on exchanges or in security wallets for long-term storage. Hardware wallets are the most secure, but they are also the most expensive and great for larger amounts.
Some wallet recommendations are;
In this article, we have introduced you to XPR. XPR is a new smart contract platform that has gained much attention in the crypto community. It’s rising in popularity for its simple, secure, and scalable use among crypto users globally.
We have explained what it is and how it works, and we have also outlined some wallets you can store them in for long-term storage. We hope you have found this information helpful!