Getting Started

2023-03-01 Getting Started
  1. Glossary of PIVX Terms and Definitions
  2. PIVX Best Practices

Your journey with PIVX starts here!

Welcome to the PIVX Documentation website which is loaded with guides, tutorials, and FAQs!

If you are unable to find the help you need, feel free to join the active community on the PIVX Discord server or visit the Community page which lists many other community resources.

A Brief Overview of PIVX

PIVX (Protected Instant Verification Transaction) is a privacy-centric cryptocurrency that introduced the world's first zk-SNARKs based financial data protection protocol on a Proof of Stake blockchain in 2020. This protocol was given the name SHIELD and was announced on November 5th, 2020.

If you want to learn more about PIVX, visit our official website at https://pivx.org/ and read the PIVX Economics Whitepaper.

Getting Started with PIVX

The first thing you will need is a wallet to hold your PIVs. The wallets page can help you decide which wallet may be best suited for you.

Buying PIVX

Current exchanges are maintained on the Exchanges page of the official website. There are options to buy PIVX with fiat currency or by trading other crypto-currencies into PIVX. It is always recommended to transfer your PIVs from the exchange to your own wallet. This ensures that if an exchange fails or is shutdown, your PIVX remain secure in your own custody.

Earning PIVX (The Rewards System)

Most decentralized blockchains have some sort of "reward" system for people who help secure the network. In PIVX, anyone who has PIV can help secure the network and are also able to receive rewards for their efforts by contributing to the proof-of-stake mechanism.

The first two methods below are ways you can use your PIV to earn rewards. If you don’t have any PIVs to participate in the network, you may be able to earn PIVs by helping the community.

Method 1 – Running a Masternode

Running a Masternode which requires 10,000 PIV.

Method 2 – Staking Your PIV

Staking your PIVs which has no required minimum PIV.

Method 3 – Helping Out

There are also many opportunities available to help out with community projects funded by PIVX. If you help with these projects, you may become eligible to earn PIVs for your efforts. These opportunities include development, marketing, customer support and more. If you’d like to help out with these activities, please reach out to us on Discord.

Amounts Distributed

Every block (approx. 60 seconds) 20 PIVs are created (sometimes called minting), which are then automatically divided into three pieces:

  • 10 PIV goes into a pool known as the "Treasury" and is used to fund the growth of PIVX. Allocations are voted upon by the Masternodes owners as part of the monthly treasury allocations.
  • 4 PIV are randomly distributed to the staker who validated the block.
  • 6 PIV are distributed to a Masternode owner.

The reward system by design has a lot of randomness built into it. This is done for security purposes, and it makes it impossible to predict accurate returns.

Indicative calculators are available on the PIVX website and the PIVX Toolbox website and provide fair estimates of the potential returns for both staking and masternode ownership.

Additional PIVX Resources

Here are some useful resources, but don't forget to also check the Community page for even more:

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