AEON markets itself as a privacy coin that offers users the opportunity to send and receive funds anonymously. Find out how to buy AEON and how it works.
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. Here’s our guide on how to buy 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.
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.
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.
- 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.