This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Prizm?

Prizm (PZM) is a fully decentralized, self-regulated, peer-to-peer blockchain network that utilizes a 100% Proof of Stake consensus algorithm. It is built on the NEXT core using open-source Java language. Prizm allows users to securely store and transfer coins, offering a convenient alternative to traditional international payment systems.

How is Prizm used?

Prizm (PZM) is a fully decentralized, self-regulated, peer-to-peer blockchain network that operates on a Proof of Stake consensus algorithm. It is built on Java v.8 and is open source with a limited edition. The primary use of Prizm is as a convenient alternative to international payment systems, allowing users to easily store and make secure transfers of the cryptocurrency. Additionally, users can receive new coins through the network. Prizm is designed to be a pure form of cryptocurrency, providing a secure and efficient means of transactions.

How do I store Prizm?

To store Prizm (PZM) tokens, it is recommended to use a wallet outside of an exchange. The safest option is a hardware wallet, followed by a software wallet. For Prizm specifically, you can download the Prizm Wallet software from the official repository on prizm.space. This software is available for both Windows and Mac OS X.

Setting Up the Prizm Wallet
  1. Download and Install the Wallet:

    • Go to the prizm.space repository and select the link to download the Windows or Mac OS X client.
    • Download the wallet installation file for your operating system and install the Prizm Wallet software.
  2. Wallet Registration:

    • Launch the installed Prizm Wallet application.
    • Click on the Registration button in the upper right corner to generate a private key.
    • Add 16 characters in Latin to different places of the key, or you can completely erase the generated words and come up with the whole key yourself. In this case, you must enter 113 characters in Latin.
    • Copy the private key to a safe place and duplicate it on paper.
Secure Private Key Storage
  • Store the private key in a cropped form, keeping the missing part in your head.
  • Print the private key on paper or write it by hand and store it in a safe place.
  • Make an electronic copy of the key on a flash card or hard drive.
  • Store part of the key in notes with a password.
  • Avoid entering the wallet with a private key without the need to complete a transaction.
  • Do not share your computer or phone with anyone else.

By following these steps and guidelines, you can securely store your Prizm (PZM) tokens.

How to buy Prizm?

To buy Prizm (PZM) tokens, follow these steps:

  1. Choose a Crypto Wallet: Select a reliable crypto wallet that supports your preferred payment method and policies. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. Download the wallet extension or app from the relevant stores.

  2. Set up Your Wallet: Create an account, provide personal information, and set a strong password. You will receive a secret recovery phrase or seed words, which are crucial for wallet recovery.

  3. Buy Base Currency: Choose a cryptocurrency exchange platform and purchase a base currency, such as Bitcoin, Ethereum, or Tether. This will be used to trade for PZM.

  1. Transfer Funds to Wallet: Withdraw your base currency to your crypto wallet by providing your wallet address and the amount to transfer.

  2. Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet. For instance, if you use the Binance wallet, you can use Pancake Swap.

  3. Buy PZM with Base Currency: Connect your wallet to the DEX and trade your base currency for PZM. Ensure you have the correct smart contract address if PZM is not listed.

  1. Store Your PZM: For security, store your PZM tokens in a wallet outside the exchange, preferably a hardware wallet or the official Prizm wallet.

Currently, you can buy PZM on ProBit Exchange using the USDT trading pair.

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