Cobo Wallet launches Zcoin (XZC) rewards account

Here’s a new rewarding Znodepool feature that will be available through Cobo Wallet: a rewards account for users who keep Zcoin (XZC) in the new XZC Rewards Wallet in your Cobo app.

What is Zcoin (XZC)?

Zcoin is an extension to the Bitcoin protocol that allows true cryptographic anonymity for Bitcoin users.

This is important because anonymity is one of the reasons people value Bitcoin as a payment method, but it doesn’t provide true cryptographic anonymity.

Every Bitcoin account is public, and has an address and an amount of bitcoin. All these accounts are kept on a single ledger that is accessible to everyone and updated as bitcoin transfers are made from account to account.



This does provide a high degree of anonymity because only the public addresses of the sending and receiving accounts are associated with each transaction, not the name or any personally identifying info about the owner of the accounts.

But this isn’t perfect anonymity because it is still possible to gather all the transactions on the Bitcoin ledger and link a set of public addresses to a single individual. Although that is not enough in itself to identify the owner of these accounts, it does compromise the anonymity value of Bitcoin.

So a Johns Hopkins University professor and two grad students proposed Zcoin as an extension to Bitcoin that fully anonymizes Bitcoin accounts by purchasing zcoin with bitcoin and trading the zcoin back for bitcoin in a new account with an address untraceable to the original Bitcoin account through Zcoin.

What’s Cobo wallet rewards for Zcoin about?

XZC Rewards Wallet is a new feature of the Cobo app that pays users up to 30% annual rewards returns for setting up a ZNode and keeping Zcoin (XZC) in the Cobo XZC Rewards Wallet. No longer do you need to have 1000 XZC just to be able to set up a Znode for rewards!

How do I get started and use it?

Download Cobo for iOS and Android.



As a Cobo user, you are able to contribute anything more than 0.1 XZC to obtain rewards of up to 30.0% per year.

Based on users’ contribution of XZC into Cobo’s reward account, the annual reward rate varies and is subject to adjustment based on the ZNode performance:

XZC reward account deposit of > 1000 XZC, annual reward return 30%

XZC reward account deposit of 880–1000 XZC, annual reward return 28.3%

XZC reward account deposit of 500–879 XZC, annual reward return 23.6%

XZC reward account deposit of 200–499 XZC, annual reward return 18.2%

XZC reward account deposit of <200 XZC, annual reward return 12.6%

How often do I get rewards for XZC?

Zcoin (XZC) reward is paid out Tuesday every other week.

For more details on XZC rewards account, please do check out our support article: https://support.cobo.com/hc/en-us/articles/360003463933-XZC-Rewards-account or send us an support request.