The 4 most private cryptocurrencies in the market

Today cryptocurrencies have gained popularity and attracted many investments. Out of all cryptos, bitcoin has emerged as the topmost cryptocurrency in India. It is the first-ever digital currency that was developed in the year 2009. Its inception has created a more diversified financial market in the world including India.

However, bitcoin, being the leader of cryptocurrencies, still has its anonymity concerns. This means that it works on blockchain technology where every transaction is public. The source of the event can be traced easily which hampers some investors' interest and privacy policies.

This had led developers on a quest to produce such cryptocurrencies which provide various built-in privacy features. If you are among those investors who are particular about their identity then you may find this write-up useful. As here we will cover the 4 most private cryptocurrencies existing in the market to meet your security and concealed identity needs.

• Monero (XMR)

It is one of the widely used private cryptocurrencies because of its significant ability to anonymize users. XMR includes ring signatures and stealth addresses for transactions which makes it more secure and untraceable. This method primarily focuses on hiding the identities of the sender and receiver. In addition, Ring Confidential Transactions provides privacy features to conceal the amount of the transaction which makes XMR a more considerable option.

If you are also interested in exploring this digital asset then it is beneficial to first check out its price and market value at some reliable cryptocurrency platforms like Wazirx, Zebpay etc.

• Dash (DASH)

It was the first private cryptocurrency that was introduced in 2014. It was earlier called Darkcoin but with time it was eventually rebranded to Dash. it gives an option to its users to whether they want their transactions in private or public. It provides such an alternative through the Privatesend feature. To work it needs to collect the hidden origins of the funds. The whole funding process is carried out privately without revealing the details.

However, selecting the private feature results in the raise of the fees. But many investors are ready to trade in this cryptocurrency with certain high charges as they get to process their transactions in obscuring form.

• Zcash (ZEC)

It has incorporated an efficient cryptographic tool that goes by Zero-knowledge proof which offers the participants to conceal their transactions. Along with the statements it also shields the amount and address from the other users.

Dash and Zcash have quite similar popularity among the people. They both are safe and can be used if you want to make obfuscated transactions very smoothly.

• Verge (VXG)

Verge was created in 2014 as DogeCoinDark. Like dash, it was also renamed ‘Verge’ quite soon after its inception. Verge describes itself as a day to day currency. It has integrated a technology called Wraith Protocol to protect and make transactions private. The protocol anonymizes transactions by hiding the IP addresses of the participants. It is totally optional and can be turned off as per the will of the users.

Bottom line

Among the above mentioned private cryptocurrencies, Monera is the most trusted and the best cryptocurrency in terms of privacy and protection of your identity and transactions. However, in general, it is advisable to be aware of the element of malicious attacks and dark web users. They can harm and tamper with your crypto transactions without even getting noticed due to the privacy feature enabled in your account.

Rea Setia is an passionate writer. She loves to share business tips and her experience about industry.