What are the best privacy oriented cryptocurrencies? Privacy oriented cryptocurrencies are those coins that hide personal details and data about the users. Basically, it conceals:
- The identification of the users
- The amount of crypto coins traded and
- The number of coins held in the digital wallet by the users.
Typically, when you deal with some of the major crypto coins such as Bitcoin and Ethereum, it is easy to track your transaction details by anyone and find the address of your wallet as well as your trading and payment history.
However, you can protect your privacy now online with the use of these specific types of cryptocurrencies.
More and more people are attracted towards these privacy coins because they find it very easy to avoid taxes as well. Check out Best Crypto Based Savings Account.
This is because the authorities cannot see where and how much coins you have stored in your wallet. However, avoiding taxes is not advised at all and should not be your prime reason to use these crypto coins.
These additional security features will keep your transactions and payment history even more private due to the cryptographic method utilized in them.
- 9 Best Privacy Oriented Cryptocurrencies
- 1. Monero (XMR) – Comparatively Strong and Stable
- 2. PIVX (PIVX) – Innovative Technology
- 3. Navcoin (NAV) – Transparent Governance
- 4. Verge (XVG) – User Friendly Crypto Coin
- 5. Zcash (ZEC) – Ensures Convenience and Privacy
- 6. Zcoin (XZC) – Pushing the Privacy Frontiers
- 7. Dash (DASH) – Trade Any Amount Any Time
- 8. Particl (PART) – Loads of Features
- 9. DeepOnion (ONION) – Multi-Platform Support and Stealth Addresses
9 Best Privacy Oriented Cryptocurrencies
The blockchain technology used in crypto transactions protects and preserves the identity of the users to some extent but privacy coins will allow you to remain completely anonymous while trading on the blockchain.
In the absence of ICOs and DeFis, Store of Value assets and privacy coins were very popular.
Though the demand for these privacy coins has faded over time, experts think it will bounce back soon and will be adopted in the future by investors as a safe haven.
Though it cannot be said what new regulations will be imposed down the lane and which specific privacy crypto coins will come under fire, here is the list of some of the best privacy oriented crypto coins.
You may take a closer look at these as of now and stay protected and anonymous.
1. Monero (XMR) – Comparatively Strong and Stable
If you are looking for crypto coins that are quite strong and stable in performance and also focus on your privacy, then Monero is the one you should consider investing in.
This is one of the most popular privacy coins in the crypto space that will give you the power to control your data and anonymity completely.
This privacy coin is absolutely untraceable. It also boasts to have a better marketing team and a strong brand presence than any other privacy oriented crypto coins.
It comes with innovative technologies which also enables you to keep things transparent if you wish.
The best part of this privacy coin is that it is dynamic, scalable, and has a wider reach which facilitates day to day trading.
Monero is continually developing and the strong team of cryptographers and researchers of the Monero Research Lab puts in their best efforts to make these privacy coins most sustainable and best among the rest.
They find and implement newer and better ways to ensure privacy, anonymity and control.
2. PIVX (PIVX) – Innovative Technology
PIVX or Private Instant Verified Transaction comes with innovative technologies and is basically an open source privacy coin.
With its useful features it has gained immense popularity over the years in the crypto space as well as among the investors.
Though it does not feature among the top ten privacy coins, it surely comes with a huge growth potential.
The technology of this privacy coin will allow you to send and receive coins without revealing your identity or amount of transaction made.
It also comes with more sophisticated Proof of Stake, cold staking feature and masternodes. You can also participate in the DAO governance as well as rest assured to gain handsome profits from this sustainable, scalable and resilient platform.
This will be your own bank where you will have complete control on your digital assets with its advanced POS algorithm which is one of the most secured and energy efficient decentralized blockchains.
And, yes, you can also win great rewards while staking.
It is programmable which helps in reducing the cost of transactions when you trade with the Web3 economy.
This is a fully decentralized and anonymous privacy coin. It also has a very strong and efficient marketing that promotes the brand and an equally efficient development team to build new and useful features keeping in mind the updates and upcoming trends.
Apart from that, this specific privacy coin is known to have a pretty quick turnaround time. In fact, you can complete an entire transaction in less than 30 seconds!
Therefore, if you want to make any payment for your business you can rest assured of the speed, safety and security when you do so using their merchant system through Coinpayments.
Some of the top features of Navcoin are its unique network scalability and carbon neutral payments. They are in fact the first carbon neutral cryptocurrency of the world.
The best attribute of Navcoin is that it allows their users to have a transparent and open governance.
4. Verge (XVG) – User Friendly Crypto Coin
Verge is a user-friendly privacy crypto coin that is promoted by some of the renowned influencers in the crypto field as a coin that promises a bright future.
This open source platform allows the users to put in their opinions on the technological developments and future decisions.
This particular cryptocurrency works on the Wraith Protocol Technology which is unique and modern. This protocol allows the users to switch easily and quickly between public and private transactions.
It is also very safe and secure to use and is quite user friendly as well. It will be easy to use when you make day to day transactions through it.
Another good reason for the mass adoption of this secure and community driven network is that it offers a diverse range of crypto wallets for the users to choose from.
No matter whichever wallet you choose, you will find that making direct transactions is easy and are made pretty quickly. Securely and most efficiently.
With some of the most renowned partners and supporters, this specific network will allow you to manage your payments in your own way by using their Micro merchant Solution and upgrade your business.
However, if that is too much of a burden for you, it will allow you to automate the process through their integration solution.
5. Zcash (ZEC) – Ensures Convenience and Privacy
Considered to be very reliable, though not very popular among the privacy crypto coins, Zcash is considered to be one of the strong contenders for the best privacy coin.
If you are looking for absolute privacy and ethics then you should surely try out Zcash. It has a very strong brand awareness and some of the major companies and banks like JPMorgan Chase work with Zcash.
It is relatively new in this field and uses an exclusive zk-snark system. This system, along with its robust privacy cryptography, makes it really difficult for others to trace the coins.
It also comes with several useful features that makes it a perfect coin to make mobile payments.
This digital currency is convenient to use, is fast in completing transactions, charges low transaction fees, and, to top it all, it ensures privacy.
Whether you spend them or send them to your friend, trade or save the coins, every transaction details will be shielded and you will have much better control over your private financial information.
6. Zcoin (XZC) – Pushing the Privacy Frontiers
Now known as Firo, Zcoin uses the Zerocoin protocol and is the first amongst all digital coins to use it.
This privacy coin is considered to be one of the most popular because it also uses Tor protocol along with it which pushes the privacy frontiers.
These protocols in combination offer complete privacy and anonymity of the users while making a transaction.
The prime objectives of this network are very simple and clear. It is to ensure usability, scalability, anonymity and fungibility while the users make a transaction.
It also ensures complete auditability of the coin supply and decentralization during the mining process.
Zcoin allows you to spend the coins and in the process it does not link your identity or transaction history, thereby keeping your transactions extremely private.
It is facilitated by the zero-knowledge proof methods which makes them fully untraceable within the network.
You can also use the Zerocoin Protocol to mint new coins. In this process the coins are ‘burnt’ first to create new coins subsequently. It does not need any previous transaction history for that.
This means that your coins will not be seized at any point of time and, most important.y, you are not liable for any illegal activities that were performed by other users in the past with that specific token.
7. Dash (DASH) – Trade Any Amount Any Time
Launched in 2014, Dash is also a very good privacy coin, if not the best, which operates in a slightly different manner as compared to other crypto privacy coins. Typically, it works on Bitcoin protocol.
The primary focus on this network is on privacy assurance to the users, which is done through their unique feature Private Send.
This is ideally an expanded version of CoinJoin which protects your privacy and anonymity while you make transactions.
In this process, three specific users are allowed to mix their coins while making one single transaction. It is then distributed to the specified address or addresses.
However, everything is done in a random order and each transaction has to go through a set of Private Send operations.
You can trade any amount, any time and from anywhere in a matter of seconds and spend less than a cent on your transaction as fees.
Whether you get paid or pay your bills or shop, you will be befitted when you use this particular privacy coin. This coin is accepted by businesses of all forms and sizes all over the world.
8. Particl (PART) – Loads of Features
Particl comes with a lot of useful features which makes this open source and decentralized platform so popular.
This privacy network allows the users to use PART for buying and selling goods and services resembling eBay, Amazon, and other person-to-person e-commerce sites of the world.
However, this privacy coin is slightly different from the ecommerce sites in its operation. It does not use a central server.
Instead. it typically carries out all transactions, data storage, communications, and payments over a distributed and self-governed network.
This DApp comes with a stealth address, an encrypted P2P messaging platform, ring signatures, double token system, disabled broadcast feature of all wallet transactions, automatic use of the Tor related services, and private transactions.
You can even generate passive income as well if you hold the Proof-of-Stake coins which also helps in securing the network.
9. DeepOnion (ONION) – Multi-Platform Support and Stealth Addresses
DeepOnion is incorporated into the Tor network which encrypts and directs the traffic using the Tor Servers all over the world.
This is done by hiding the IP addresses of the users which ensures privacy and anonymity. This crypto privacy coin is based on a hybrid algorithm.
The main feature of it is DeepSend which allows the users to make untraceable payments or receive coins.
This feature is very secure and ensures total privacy of the destination and origin addresses with its unique multi-signature and stealth address features.
You can use this crypto coin across multiple platforms as well and even protect your digital files securely in their DeepVault. The most interesting feature of this network is the blockchain based VoteCentral feature.
This is a voting platform that will provide you with a rewarding experience as it does to the DeepOnion community.
Since cryptocurrencies as such are highly volatile, privacy coins are very good to invest in to shield your identity and anonymity online.
You can choose any of the above coins to invest in but do research to make the right decision by yourself.