Tornado Cash is a big winner, added 51% to its value: where to buy Tornado Cash

Time Stamp: February 17, 2022 4:30 AM
Source Node: 1177437

The live Tornado Cash price today is $47.49 with a 24-hour trading volume of just under $300 million. Tornado Cash is up 51% today. Look no farther than this quick guide for the details on Tornado Cash, if you should invest in it, and where to buy Tornado Cash if you so choose.

Top places to buy Tornado Cash now

As TORN is such a new asset, it’s yet to be listed on major exchanges. You can still purchase TORN using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy TORN right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‘connect’ your wallet to it.

4. You can now swap your ETH for TORN

Now that you’re connected, you’ll be able to swap for 100s of coins including TORN.

What is Tornado Cash?

Tornado Cash is a decentralized, non-custodial privacy solution built on Ethereum. It improves transaction privacy by breaking the on-chain link between recipient and destination addresses.

The solution uses a smart contract that accepts ETH and ERC-20 deposits. These deposits can be withdrawn by any on-chain address. Whenever an asset is withdrawn by the new address, there is no way to link the withdrawal to the deposit, ensuring asset privacy.

To ensure privacy, Tornado Cash uses zero knowledge proofs (zk-SNARKs). When a user decides to make a withdrawal, the user must provide proof of secret information corresponding to one of the smart contract’s list of deposits.

This proof is verified without the user needing to reveal which exact deposit corresponds to their secret info. The smart contract then checks the proof, and transfers deposited funds to the address specified by the withdrawal transaction. No external party can link the deposit to the withdrawal.

Should I buy Tornado Cash today?

Tornado Cash can be a lucrative investment, but take the time to study the market and read estimates on its price trajectory before making a commitment.   

Tornado Cash price prediction

Tech News Leader considers Tornado Cash a good investment. They predict it can go up to $75.44 in one year, to $243 in 5, and to a whopping $1,543 in a decade.    

Tornado Cash on social media

The post Tornado Cash is a big winner, added 51% to its value: where to buy Tornado Cash appeared first on Coin Journal.

Time Stamp:

More from Coin Journal