Cryptocurrencies are taking all over the world and slowly becoming the new trend of the online transaction. It won’t be far when we all would pay each other with crypto coins instead of fiat currency. Although, it’s weird that most of these crypto-assets leave your transactions on the show. Anyone can check anyone’s transaction details, including the amount sent, received fee charges, the total number of the transaction by simply searching for your wallet address. The feature was made to decrease the chances of fraud and stop money laundering. However, if you see this other way, it can be risky too because there’s no privacy of your details. Think of it like how would it be if everyone can see how much you spend every day, whether it’s fiat or cryptocurrency, everyone deserves privacy. If you are looking for cryptocurrencies with privacy features, then you’ve come to the right place. Here, in this article, we are going to mention the best privacy coins for 2020. So, let’s get started without wasting one more moment.
Before we start our best privacy coins list, let’s get acquainted with privacy coins definition. Unlike other cryptocurrencies, privacy coins don’t put your transaction details on the show. It means all your details would be private, no one else can find out about your transaction especially how much you spent, to whom you sent and your identity.
For instance, if you see Bitcoin, all its transactions are public and anyone can track details about users and transactions easily.
There are dozens of privacy coins in the crypto space, but we’ll talk about the top five privacy coins that include, Monero, Dash, Verge, Zcash and Pivx.
Monero is the first and most effective private coin in our list. The coin makes transactions completely untraceable including the details like how much coins are spent. Monero utilizes CryptoNight Proof-of-Work protocol with ring signatures that helps to keep all transactions hidden.
This is the reason the cryptocurrency is famous on darknets such as AlphaBay and hackers usually use it for hiding their transactions. Despite, its usage among hackers and web dealers, Monero is the first in the list of best privacy coins 2020.
If you are interested in buying Monero, you can look for it on the top exchanges like Binance, Coinbase, Changelly etc.
If you are wondering Is Dash a Privacy coin, then the answer is yes. Dash is similar to Bitcoin in many ways as it was obtained by forking Bitcoin. Like Monero, it is not that hideous and absolutely cannot be used for hacking and other purposes, it does provide privacy features like PrivateSend. If you’ll use the PrivateSend feature while sending coins, it will keep your identity hidden and untraceable. Dash utilizes Masternodes that helps to mix all the transaction in a way that it would become impossible to trace an individual transaction.
Dash is available on almost all the top cryptocurrency exchanges. However, you should use CEX.IO, Binance and Changelly to get discount on trading charges.
To keep your transactions private, Verge utilizes the Tor IP Anonymizer. It lets you execute transactions both hideously as well as publically. It is due to the protocol used in the cryptocurrency that is Wraith protocol. Just like Monero, Verge creates a brand new wallet address when sending the coin which is known to the owner only and kept hidden.
Other things that make Verge one of the best option among best privacy things are its low fee and fast transactions. The crypto coin is listed among the top 100 cryptocurrencies in terms of its market cap i.e. $44,279,209 USD. Binance and Bittrex are the two best exchanges to buy Verge coin with less trading fee.
You might have heard about Zcash as it is quite popular having a market cap of $378,705,602 USD. Zcash is among the most popular altcoins that are mentioned as one of the best option to invest in 2020. The reason Zcash is called privacy coin is its features that enabled anonymous transactions. You can choose to send coins privately and it would become impossible for anyone to trace the original source on the blockchain. Zcash is a well-reputable altcoin with little to no issues reported about the technology. Apart from the option to send coins privately or publically, the coin has a low transaction fee in comparison to other famous altcoins.
Pivx (Private Instant Verified Transaction is a one of the best privacy coins which is obtained by forking Dash cryptocurrency. The motive was to build a coin with more private features. Although, the coin has yet to prove itself and hit the top 100 cryptocurrency list. Besides exceptional privacy and anonymity, the top features of the coin are its negligible transactions fee and instant transactions.
PIVX aims to provide improved scalability and become a common method of online payment.
PIVX introduced its Zerocoin Protocol in 2017 that is the reason behind completely anonymous transactions. You can find Pivx coin on many crypto exchanges including Binance, Coinswitch, Bittrex, ChangeNow, Kucoin etc.
So, these were the five best privacy coins for 2020. If you are not satisfied with the list, you can look out for other privacy coins such as Particl (PART), Bitcoin Private (BTCP), Zcoin (XZC) etc. we recommend you to do thorough research on all private coins and compare all their aspects before trusting any one of them. If you are looking for the best cryptocurrency to trade in 2020, read our guide about the same and know what crypto coins are worth investing this year. Some of the altcoins that we consider best in terms of investment are Bitcoin, Ethereum, EOS and Ripple. To stay updated with the latest cryptocurrency news and guides, stay connected with crypotknowmics.com and keep up your good research.
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