Cryptocurrencies are becoming part of our day-to-day life and it’s no more a novelty in the financial world. Gradually more people get involved in the crypto world and begin trading between various cryptocurrencies. Yet, no matter how accessible cryptocurrencies are today, there are some crypto assets that are not as easy to get as the other ones. These are called privacy coins. One of the popular private cryptocurrencies is Pirate Chain (ARRR). Although it’s a cryptocurrency you can’t purchase it directly through Fiat similar to other digital currencies. To buy a Pirate Chain you need to make extra transactions. At first, it may seem slightly complicated but it’s all made for the sake of security. In this article, we’re sharing simple guides on how to buy Pirate Chain (ARRR).
What Is a Pirate Chain
It has been around since 2018 and it’s the first anonymous cryptocurrency that aims to be the most secure asset in the market. The main goal of Pirate Chain is to support the initial purpose of blockchain technology that enables users to make financial transactions while remaining completely anonymous.
Where Can I Purchase a Pirate Chain
There are many options available for buying Pirate Chain(ARRR). The most private and secure option of obtaining a Pirate Chain is as follows. By following this simple guide you’ll learn how to buy Pirate Chain(ARRR).
1. You’ll Need Some Monero
If you’re looking for a way to purchase Pirate Chain (ARRR) while maintaining 100% anonymity, this is the perfect option. First, you need to buy some Monero. The best way to do it is via the LocalMonero website. It enables users to purchase Monero through various payment options ranging from gift cards to cash sent via mail. All you have to do is create an account that doesn’t require a KYC/AML verification, and buy some Monero through one of the available options.
2. Moving on to TradeOgre
Once you have Monero, you can trade it with private crypto like Pirate Chain on TradeOgre. It’s a crypto exchange that provides anonymous transactions of various private coins. You need to create an account that’s completely identical to the LocalMonero website through registration without KYC/AML verification.
3. Get Some Bitcoin
Since you can’t trade Monero with Pirate Chain on TradeOgre yet, you need to first purchase some Bitcoin. To do so, you can exchange the Monero you already have with Bitcoin straight from TradeOgre.
4. Buying Pirate Chain (ARRR)
Now that you have Bitcoin, you can exchange it with the Pirate Chain on TradeOgre. Simply visit the Bitcoin/Pirate Chain pair on the TradeOgre platform and type in the amount of ARRR you want to get and voila, you’re now a happy owner of one of the most anonymous cryptos out there!
Buying Pirate Chain on Coinbase
An alternative to buying a Pirate Chain is via Coinbase. Although you can’t purchase it straight from Coinbase, you can still buy other cryptocurrencies that will later be exchanged for ARRR. Here’s how to do that.
1. Create a Coinbase Account
If you already have a Coinbase account you can skip this step. For those who don’t, we’re here to share everything in detail. You can create an account directly from their website or via an IOS or Android app. It takes a few minutes to complete the simple registration. Visit their website or open the app and type in your email address and get started with the registration of your Coinbase account.
In addition, you need to provide some more personal information and complete verification processes for security. The process includes phone number verification for two-factor authentication which is used to get notified in case a change happens to your account. You also need to select a payment option to get started. If you want instant transactions, use your credit card, if you’re not in a hurry you can use your bank account which takes around five days to complete a transaction.
2. Buy Bitcoin or Ethereum
Once you’re all set up with your account, it’s time to move on to the next step. Pick one of the cryptocurrencies, either Bitcoin or Ethereum and make your purchase. Buy as much as you need for a later Pirate Chain purchase.
3. Getting Pirate Chain
Since Coinbase doesn’t offer Pirate Chain exchange, you need to move to another crypto exchange to finish the process. There are many other cryptocurrency exchange platforms you can use, such as Binance or Gate.io. Pick one of the platforms and set up an exchange account, which is very similar to the previous registrations. Once you’re done with that as well, it’s time to buy some ARRR.
First, you need to move the purchased Bitcoin or Ethereum from Coinbase to the cryptocurrency exchange platform which will require some time. It’ll take from a few minutes up to hours. When the transaction is done you can exchange the crypto you already have with Pirate Chain (ARRR). That’s the entire process of buying ARRR via Coinbase. After you make a purchase you can move your cryptocurrencies to a reliable wallet, such as the CoinStats Wallet. It enables you to manage, track and exchange crypto all in one place.
Exchanges That Sell Pirate Chain
Currently, there are a number of exchanges available where you can purchase Pirate Chain. If you’re looking to get some ARRR you can do so at the following exchanges: Gate.io, Bitcoin.com, KuCoin. Apart from the aforementioned platforms, there are many other crypto exchanges available for not only Pirate Chain but for other assets as well.
Pirate Chain Privacy and Security
All cryptocurrencies offer various privacy and security features, while Pirate Chain has a more serious approach to privacy. It’s the first cryptocurrency that has implemented an obligatory and private use of Zero Knowledge-Succinct Non-interactive Argument of Knowledge (zk-SNARKS). It’s a zero knowledge proof protocol that enables a party to prove to the other party the verity of a statement without revealing any information beyond the validity of the statement itself. It takes a few milliseconds to verify the proof. Zk-SNARKs is the strongest privacy protocol in the crypto sphere.
For privacy reasons, all ARRR addresses are by default protected z-addresses only, and all transactions are exceptionally z-transactions. Meaning that the balance of each address is visible solely to its user. Pirate Chain provides no-trace transactions, meaning that no one can track the transactions since there is no trace beyond its user’s wallet. Users’ privacy is further protected through embedded Tor network compatibility.
As for blockchain security, it implements a Proof-of-Work algorithm offered by Komodo. Delayed Proof of Work indexes Pirate Chain’s blockchain onto Komodo and Bitcoin blockchains. So, in case someone tries to attack Pirate’s blockchain, they’ll need to overcome Komodo and Bitcoin Blockchains first, which is practically impossible.
Now that you know how to buy a Pirate Chain in the most secure ways possible, you can start trading right away. Follow the live state and rates of Pirate Chain on reliable crypto portfolio trackers like CoinStats to stay updated on current news. If privacy is a priority for you, then the Pirate Chain and other privacy coins are the perfect crypto choice for you.