In this guide, we will review the following 5 popular privacy coins.
Monerois the oldest and the most popular privacy coin in existence.
Monero was launched back in 2014 and have throughout the years continued to improve and perfect its privacy features. With Monero all transactions are private by mandate. Compared to other privacy coins with optional privacy features.
Monero makes use of a zero-knowledge protocol in order to completely hide the sender’s as well the receiver’s address from the public.
Advantages of Monero:
- It is fungible that means all coins are interchangeable. There are no bad or good coins. So past history won’t reflect or change the value of any of the coins. This is very important for any privacy coin.
- World-class research. With top scientists, researchers and academics all building to Monero’s development (read more here).
- Stealth addresses: To keep accounts anonymous and untraceable
- Ring Signatures and Ring Confidential Transactions in place (learn more about it here)
DASH is after Monero one of the most well-known privacy coins. It also provides its users with the feature of private send.
The way the private transactions are processed on theDASH network is that the transactions are broken down into smaller amounts and these smaller amounts are mixed with the transaction happening between two other users as well.
Advantages of DASH:
- Strong suit or privacy features
- Run by a decentralised and community
- No record of any previous critical bugs
Verge was made in mid-2014 by Justin (Vendetta) “Sunerok” Valo under the name DogeCoinDark. The coin was later rebranded to Verge Currency. This is another protection crypto that was very celebrated during the last crypto bull run.
In contrast to most other security digital forms of money, Verge doesn’t depend on cryptography to conceal the exchanges. Skirt utilizes advances, for example, Tor and I2P to conceal the IP address and the area of the client from the remainder of the world.
Advantages of Verge:
- Their use of TOR and I2P, and the stealth addresses and wallets.
- No pre-mining and community-led team
- Low fees and fast transactions
Where you can buy Verge: Binance
ZCash was part of the ZeroCoin project. ZCash makes use of features of both DASH as well as Verge.
ZCash provides its users with an option to send funds privately to other users. If this option is chosen then the transactions are going to be impossible to trace back to the source.
Advantages of ZCash:
- Optional privacy features with greater flexibility between private and non-private transactions
- Strong background throughout the years, and with little to non critical bugs reported
- Low transaction fees
NavCoin is an open-source blockchain with a privacy cryptocurrency. It also has a very strong community focus.
What makes Nav interesting is three-folded. Being a privacy coin is one, the other two is that it is really fast to send and cheap.
Advantages of NavCoin:
- Cheap (NAV can be sent for fraction of a cent)
- Fast (transactions will show up within seconds and confirmed in 30 seconds)
- Privacy (NavCoin wants to help you keep your privacy while interacting on the blockchain. So that your information can only be given with your consent, not taken)
Where you can buy NavCoin: Binance
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