When talking about Cryptocurrency, what’s the first thing that comes to your mind? Bitcoin, right? Well, it’s quite natural too. After all, it’s the most popular one available out there. However, did you know that it’s not a privacy-oriented coin?
Yes, that’s right. Which is why the risk of it getting intercepted mid-transaction is quite high. And, if something as such happens, you might end up losing quite a lot of money as a whole.
Due to this reason, the popularity of privacy-oriented Crypto has improved by quite a lot. I’m pretty sure it’ll boost even more, as the price of BTC keeps mounting. Hence, in this article, I’m going to share some privacy coins that you should invest in 2023.
But, before that, let’s talk about something a little more fundamental.
What Is A Privacy-Oriented Coin?
A privacy-oriented coin, in essence, is a type of Cryptocurrency that can obscure transactions on blockchain to manage the anonymity of the user. So, it’ll be only you and your trader who will know about the transacted amount and all.
These coins don’t have a huge price range like Bitcoin. However, the cost is increasing quite gradually on a day-to-day basis. So, you won’t have to worry too much about it. Besides, you can also trade them in a regular platform like bitcoin loophole.
Top 5 Privacy Coins To Know About
In this section, we’ll talk about some privacy coins that you can invest in. Let’s keep reading till the end to know more in this context.
Option 1 – XMR Or Monero
Monero, as a part of its security, uses stealth addresses and ring signatures. It, in turn, can be ideal for hiding the identity of the sender as well as the receiver. Apart from this, XMR can also conceal the overall transaction amount. Therefore, no one will be able to trace anything back from anywhere.
Fun Fact: Currently, XMR is priced at around 152.00 GBP, which puts it in the 22nd place of the Cryptocurrency market value list.
Option 2 – DASH
Curated in the year of 2014, DASH enables you to choose whether you want to publicise the transaction amount or not. However, that’s not the end of it. With DASH, you can also obscure the origin of your fund. Hence, no one can trace the wallet you’re using or the information regarding the key. It’s also quite fast in terms of transacting.
Fun Fact: DASH has a price range of 48.00 GBP with an overall market value of 550 million GBP. It’s ranked 72nd in the Cryptocurrency market value list.
Option 3 – ZEC Or Zcash
As the organisation defines itself, Zcash is the “https” of the world of Cryptocurrency. ZEC is quite high-end when it comes to privacy and security. And, its speed is pretty decent too. ZEC uses a unique technology called Zero-Knowledge Proof to obscure the total transaction amount as a whole. Besides, it can also shield the information through cryptographic tools.
Fun Fact: At the time of writing. Zcash has an overall market value of almost 1 billion GBP. It’s also priced at 75.00 GBP approximately.
Is There Any Other Option You Can Go For?
Apart from the aforementioned three, you can also opt for Verge. Unlike the others, it doesn’t take the help of any cryptographic technique at all. Instead, it focuses more on protecting the identity of a user by using I2P or Internet Project. It can also help in taking care of the communication system by using the TOR technology.
Beam is yet another security-focused token that’s private by default. Also, you cannot store private information or address in the same place. Hence, the risk of losing your money will be quite low.
The Final Say
When it comes to Cryptocurrency, privacy is definitely something you should consider as the first and foremost aspect. Or else, you might get mugged by someone on the internet. And, even if you are using a privacy-oriented coin, you should focus on some other form of security as well. Being careful can go a long way, you know.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.