Bitcoin cryptocurrency isn’t really as anonymous as many people think.The reality is that Bitcoin is actually a pseudonymous cryptocurrency and does NOT belong to the group of complete anonymous cryptocurrencies. Although many people think of it as a truly anonymous one. Yes, as long as you don’t link your identity to your wallet address, it is pretty much impossible to determine who is the user of the wallet. The problem is that this link can be easily established through the use of cookies and web trackers. For those who loves anonymity, we have mentioned the “Top Five Anonymous Cryptocurrencies” in this article which are Monero, ZCash, DASH, PIVX and Bitcoin Private
Bitcoin offers a whole host of benefits when compared to traditional fiat currencies, unfortunately enhanced privacy is not one of them. Currently, a handful of cash represents a more private payment option than using Bitcoin’s very public ledger. For the privacy conscious, following is the “List Of Top Five Anonymous Cryptocurrencies”
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List of Top Five Anonymous Cryptocurrencies
Monero
Monero was launched in April 2014 as a fork of ByteCoin and uses its CryptoNote codebase. Monero currently provides some of the highest levels of anonymity and privacy available. The basic framework of Monero’s blockchain and transaction structure are the same as those used by Bitcoin, however, it utilizes ring signatures and address derivation.
Monero uses ring signatures and ring confidential transactions to obfuscate all the details relating to transactions. These include the amounts, origins, and destinations of all transactions. When coins are spent, the transaction is signed and time-stamped with a ring signature, this signature is verified against a group of public keys without revealing the actual private key used. The default obfuscation of all the transaction details means transactions on the Monero blockchain cannot be linked to a particular user or real-world identity.
From Where To Buy Zcash Cryptocurrency? | How To Buy ZCash Coin ?
Zcash (ZEC) cryptocurrency is listed and can be purchased from the following cryptocurrency exchanges:-
- Binance,
- Bittrex,
- HitBTC,
- Poloniex,
- Bitfinex,
- Bittrex,
- Kraken,
- OKEx,
- Huboi,
- Upbit,
- And Many more
How To Buy Zcash Coin In India?
Zcash cryptocurrency can be purchased from the following list of cryptocurrency exchanges in India in exchange of INR:-
- Coindelta,
- PocketBits,
- BuyuCoin,
- Coinome,
- Zecoex.
DASH
While best known for being a cryptocurrency geared for everyday use, Digital Cash or DASH is also a viable option for those interested in private transactions. In addition to providing transparent payment options, Dash allows anonymity with its PrivateSend feature that utilizes the concept of CoinJoin.
Dash offers a decentralized mixing service within its platform called PrivateSend that allows transactions to be formed by multiple parties and paid out to multiple parties and the merging of funds together means that they cannot be uncoupled afterwards. Here, funds are mixed together and investigators cannot be sure of the sender, amount, or destination. Successfully mixing payments using the PrivateSend feature requires at least three participants.
Also Read:-
- List of Best DASH Wallets
- Dash Partners with Arizona State University to Launch a Blockchain Research Lab
How To Buy PIVX Coin In India?
PIVX coin can be purchased from the following cryptocurrency exchanges in India in exchange of INR:-
- Zecoex,
- BuyuCoin.
Bitcoin Private (BTCP)
Bitcoin Private is a ZClassic fork that uses the zk-SNARK technology, and it’s said to be the privacy coin that provides the highest level of security of any blockchain network. Bitcoin Private is a mix of technologies used in Bitcoin and ZClassic. This also means that Bitcoin Private boasts the same privacy features as Zcash, meaning that transactions are completely anonymous.
The key feature of Bitcoin Private is its Proof-of-Work algorithm dubbed EquiHash. This ensures a high degree of decentralization and democratization of the blockchain, as well as a decreased risk of attack. Other noteworthy features include transparent and shielded transactions, a voluntary miner contribution program, and a so-called treasury fund governance.