I will be talking about the ZenCash Swing Wallet and Bittrex in this post, so first let me use an analogy to compare them. Swing is a wallet application you download that syncs with blockchain. Swing lets you store ZenCash on your own computer and is completely in your control—kind of like a vault. Whereas Bittrex is a wallet hosted on a browser, like an online bank account.
ZenCash Swing Wallet
How to Download the ZenCash Swing Wallet
This is a walk through on how to download Swing Wallet for Mac, but the Windows download is very similar.
- Go to zensystem.io.
- Click the purple “Download GUI Wallet” button on the front page. You’ll see a popup that explains the wallet works on Linux, Mac, and Windows. Next we’re going to want to click “Swing Wallet.”
- You’ll see the ZenCash Desktop GUI Wallet for Mac OS Download page. There’s a lot of good information on this page. If you’re interested, take a minute to read it! If you’re just here for the download, click “ZENCashWallet-0.71.4z.dmg” (or whatever version is live now) in step number one on the page.
- Step two on this page suggests you run a security check and virus scan before you proceed. This is up to you-I didn’t do that and it worked fine for me.
- After the .dmg file has downloaded, you will move it to your Applications folder on Mac. (On Windows you would extract the file.)
- On a Mac, you may see an alert saying OSX is protecting you from an identified developer. To allow this, you will need to edit your Security & Privacy settings in your System Preferences. Click “Allow apps downloaded from: App Store and identified developers” on the Security & Privacy settings page.
- You’re set! Open your application!
You may see a notification that the application needs to syncs with the ZenCash blockchain. This will take up about 1GB of space on your computer.
Your Swing Wallet
This is where you can see all your incoming and outgoing transactions. This will list the type of transaction (public or private), if it is incoming or outgoing, if the transaction has been confirmed, the cash amount, the date, and the destination address.
Own Addresses Page:
This is where you can see all your wallets and balances. You can also generate additional addresses here. Just click “New T (Transparent) address” and “New Z (Private) address for private addresses.”
To Send Cash from ZenCash Swing Wallet:
- Go to the Send Cash tab
- You’ll see a “Send cash from” dropdown with a list of all the wallet you have that currently have a balance. Choose which wallet you’d like to send money from.
- Input the receiver’s address into the “Destination address” box
- You can add a private message in the Memo space if you’d like, but it is optional. This will only work with shielded addresses.
- Fill out the amount you’d like to send in the “Amount to send” box.
- The transaction fee for sending money from the ZenCash Wallet is 0.0001 ZEN, which is less than Bittrex. This fee stays the same no matter how much you’re sending. However, you CAN edit and increase the transaction fee. Why would you do that? You spend more, you get confirmed faster.
- Click “Send.”
- You’ll see a progress bar followed by a pop up saying your deposit was successfully sent.
Receiving ZEN in your ZenCash Swing Wallet
Under the Overview tab, you will see a transaction posted labeled “IN.” It may say it is not confirmed immediately after the money is sent. Transactions take 2-3 minutes for the miners to confirm them.
I’ve been seeing Zen transfers come through within 2½ minutes of the transaction submittal. Check your wallet and make sure you see the deposit there. It may say “No” in the Confirmed Column. That’s okay. The miners will confirm the deposit with the next block.
Setting up Your Bittrex Wallet
- Create an account on Bittrex.com-easy enough.
- If you want to create a wallet for a certain coin, you’re going to click the plus sign next to the coin name. If you don’t see your coin right away, search for it in the search bar on the far right.
- Once you hit plus, you’re going to get a pop up. Click “New Address.” A new wallet address will populate in the bar in the middle.
To Send Money with Bittrex:
- Click the minus sign next to the coin you want to send.
- Copy and paste the receiver’s wallet address into the top bar.
- Add your quantity. You will get a transaction fee. This will be 0.002 ZEN.
- Click Withdrawal.
- Click Confirm.
- You should see a blue status bar on the top right of your screen confirming the submitted withdrawal. But wait! You’re not done.
If you go back to the Account Balances page, you will see you have that amount in your “Reserved” column. This is basically just saying it’s pending going out. Now go check your email. You’ll see an email from Bittrex asking you to confirm your withdrawal. Click the confirmation link in the email. You should see a “Withdrawal Confirmation Successful” screen.
To Receive Cash in Bittrex, you will see a “Pending Deposit” listed next the coin associated with this transaction. This takes a longer time in the back end compared to the ZenCash Swing Wallet.
I prefer to use ZenCash Swing Wallet over Bittrex mostly because it is hosted locally. It has gotten a lot of good reviews and it seems to perform faster than Bittrex for me. On the ZenCash Swing Wallet, you can make backups and encrypt the wallet to ensure its security too.
Check out our video for a full screencapture walk through!
Subscribe to the VoskCoin YouTube Channel for more ZenCash Content.
Keep up with ZenCash discussions on the ZenCash Slack!
And check out the ZenCash Forum here!