Anonymous Privacy coins

Privacy coins - maintaining anonymity in the world of cryptocurrencies

Anonymity, privacy, decentralization to termination, which first come to mind when talking about cryptocurrencies? Are we really 100% safe with virtual money? What are privacy coins and what are they in the world of cryptocurrencies?

Is Bitcoin anonymous? Can you really sell btc anonymously?

Many people say that Bitcoin gives its users anonymity. Indeed, to some extent the identity is encrypted, however, this does not mean that it is impossible to trace a transaction. Somebody who knows enough about blockchan, is able to find information left after the transactions,

What are anonymous "private coins"?

Private coins are cryptos, which enable users the transactions, which will be fully anonymous, without making the senders or receivers visible. They use various cryptographic methods, which increase one's security online.

Why anonymous cryptocurrency was invented?

Our behaviour online are constantly being tracked by websites which automate remarketing or sell the data to the marketing agencies. The money earned on this is significant. Today, this is very valuable information, used in online marketing. More and more users become aware of this situation, and thus privacy becomes a concern.

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Privacy coins – TOP5

1. Monero

Monero i one of the more popular cryptocurrencies. What makes it stand out relatively to Bitcoin is fact, that it indeed is able to encode data of both the sender and receiver of a transaction. As advanced cryptographic technologies are used, Monero transactions are more difficult to track. A ring signature is used here, as well as one-time address (stealth address) which encrypt the data, rendering it almost untraceable.

2. Zcash

Zcash is yet another crypto treated as a private coin. In this case, a cryptographic procedure is employed, that is, zero-knowledge proof, which enables a transaction without uncovering your address to others, which also is an effective tool to maintaining security.

3. Dash

In this case, we experience a little more freedom. When selling or buying this anonymous coin, Dash, it is possible to take a choice regarding hiding our data. Dash (DASH) enables its users a function called PrivateSend, which enables encrypting information regarding the source of funds used by a sender. If a user decides to use this function, transactional feel become higher.

4. Verge

Verge is yet another interesting solution for users demanding anonymity in the web. This cryptocurrency, however, instead of basing on cryptographic methods, uses the Tor network, which renders the analysis of online traffic impossible. This way, its users are able to maintain full anonymity.

5. Horizen

Horizen is also treated as a private coin. To tell the truth, it works on the basis similar to Bitcoin. However, Horizen has a wide network of "knots", which help to sustain anonymity.

The awareness of users about the privacy and anonymous methods of conducting transactions is constantly growing. This is why, privacy coins also enjoy more and more popularity. There are, however, risks as maintaing full anonymity also allows for more frauds and scams.

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