Aeon is a mineable privacy-oriented cryptocurrency designed to offer private cryptocurrency transactions on mobile devices. It uses similar privacy techniques to Monero, but is intended to be generally more scalable and lightweight.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
The initial step is to create an account with Bittrex. You will need to provide your email address and a strong password of at least eight characters. You are also advised to set up two-factor authentication to further protect your account.
Deposit fiat or cryptocurrency into your Bittrex account. Fiat deposits are not supported from all locations, so if you need to buy crypto to send to Bittrex you can follow our guide on how to buy Bitcoin. To make a USD deposit, you can send a wire transfer to Bittrex.
To deposit fiat, navigate to the deposits section and follow the steps provided.
To deposit crypto, click on “WALLETS” then click on the “+” sign next to the cryptocurrency you want to deposit. It will display the wallet address that will receive your crypto. Copy this to your clipboard. Go to your bitcoin wallet, and send the desired amount to the pasted Bittrex wallet address. Depending on the blockchain’s capacity, your account should be funded within a few minutes.
Once your account is funded, you are now ready to buy some AEON. At the top of the menu, you will see two tabs that display “MARKETS”. Click on the one that displays the bitcoin sign, and a drop down box will appear.
Type in “AEON”, and click on the corresponding result. This will display a variety of statistics such as the current market price, the recent market activity and the amount of liquidity available.
Enter the amount of AEON coins that you would like to buy, and the trading box will update with the amount of bitcoin required to complete the exchange. Once you are sure that the data you have entered is correct, click on the “BUY AEON” button. As you have opted to take the market price, your trade should fill immediately.
To check if the transaction is complete, go back to your Bittrex wallet and you should see your AEON balance updated.
How to sell AEON
Similarly to Step 3 above, you can start by simply finding the Markets section of your preferred exchange. You’ll want to know the currency you want to sell your AEON for.
If you’ve chosen Bittrex, you can go to the tab displaying “MARKETS” and enter in the currency you want in return for selling your AEON tokens. Choose the amount of AEON you want to sell in return for another cryptocurrency or fiat currency. You should then be presented with a button where you can opt to buy this currency and sell your AEON.
Which wallets can I use to hold AEON?
The AEON wallet is still under development and requires some programming knowledge to use. You can find it on the official AEON site. Installing and operating it requires using command-lines.
You also have the option to store your AEON coins within your Bittrex wallet, although this does carry additional risks. If the exchanger experiences an external attack, there is the potential that your coins will be lost forever.
AEON is a cryptocurrency that prides itself on complete discretion, offering users a private, secure and untraceable framework to send and receive funds anonymously.
Created in 2014 by an unknown developer, AEON is a fork of Monero. Ultimately, the coin’s main feature is that unlike the more established cryptocurrencies such as bitcoin, transactions are not easily identifiable on the public blockchain, ensuring that movement of funds is untraceable to either sender or receiver.
Furthermore, as the AEON coin functions on the CryptoNight-Lite algorithm, its proof-of-work consensus allows for fast transaction speeds within a 240-second timeframe. The computing power efficiency that this provides means that users can also run the AEON network on their mobile phone without experiencing data lags or delays.
What should I consider when buying AEON?
The unique selling point of AEON is its ability to offer anonymity for those looking to keep transactions private. However, although this may only appeal to a certain section of the cryptocurrency community.
AEON also provides an option that allows for tracetable transfers, which may impact the privacy of other users. The CryptoNote privacy protocol that AEON uses requires collective privacy, and it may be possible for a determined person to accurately track AEON transactions.
Pros and cons of buying AEON
Allows users to send and receive funds in complete privacy
Ultra-fast transaction speeds of 240 seconds
Lightweight framework allows seamless usage on a mobile device
Only wallet available requires basic knowledge of command-line programming
Limited roadmap planning available for 2018 and beyond
Users restricted to one currency pairing with bitcoin
The bottom line
Once you’ve weighed the pros, cons and things to consider before buying AEON, you’ll be well placed to decide if you want to add it to your portfolio of cryptocurrencies.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Andrew Munro is the cryptocurrency editor at Finder. He was initially writing about insurance, when he accidentally fell in love with digital currency and distributed ledger technology (aka “the blockchain”). Andrew has a Bachelor of Arts from the University of New South Wales, and has written guides about everything from industrial pigments to cosmetic surgery.
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