Over the years, cryptocurrencies have gained popularity for several reasons, including anonymity and privacy. This is because some cryptos are known to help users conceal their transactions and identities. However, even in the midst of all the mounting concerns regarding the anonymity of cryptocurrencies like Bitcoin, traders are still searching for crypto alternatives that can promote the same idea.
Since college football predictions aren’t the only data you can consult for betting tips and advice, Bitcoin isn’t the only popular cryptocurrency offering built-in privacy features. The crypto market also comprises other privacy-oriented cryptos offering enhanced security features or options to help users keep their activities and identities concealed.
Monero
Monero (XMR) has become increasingly popular, primarily because of its ability to help users maintain their anonymity. Because Monero uses stealth addresses and ring signatures, its transactions are complicated to trace, allowing receivers and senders the opportunity to hide their identities.
Zcash
Zcash prides itself on its enhanced privacy and security features. Because it’s implemented Zero-Knowledge Proof, a cryptographic tool, and allows participants to shield their transactions, users can transact without ever needing to reveal their addresses or personal information to others. Like college football picks, these pros can be very beneficial to participants who choose to use crypto for transactions.
DASH
DASH first launched on the crypto market in 2014. Essentially, it’s a cryptocurrency that allows users to select whether or not their transactions will be private and anonymous through its feature, CoinJoin. Here, the feature’s function is to obscure the origin of your funds; however, those who choose to use the feature should be aware that it will raise the transaction’s fees slightly. Another popular feature that DASH offers its users is Instant Send. Here, users will be able to process their transactions at much quicker speeds.
Horizen
Horizen (ZEN) works similarly to Bitcoin by offering public T-Addresses and private Z-Addresses. The cryptocurrency prides itself on its vast node network, which helps it further improve anonymity, even though sending funds from private Z-Addresses to public T-Addresses will reveal the amount received.
Verge
Like solely relying on college football picks against the spread, instead of relying only on cryptographic techniques, users can opt for Verge (XVG) banks on the tested and existing technology of the Invisible Internet Project and The Onion Router to protect user identities.
On the one hand, you have The Onion Router that reflects a user’s communications on a distributed network of tunnels and relays that are run by different volunteers located in various parts of the world, thereby hiding the identities of users.
But on the other hand, you have the Invisible Internet Project that encrypts user data prior to sending it through a network that’s anonymous, run by volunteers, and peer-to-peer.
This crypto remains highly effective in this regard, and it’s even able to hide the IP addresses and locations of those participating in the transaction. Today, crypto continues to make headlines as a popular payment option that’s topping charts primarily because of its privacy features.
Beam
Beam is a token that’s focused primarily on security and therefore offers core features that include benefits like having full control over your privacy. By default, all transactions are private, and no private information or addresses are ever kept on the blockchain. The crypto prides itself on claiming superior scalability because of its:
Hardware wallet integrations
The compact size of its blockchain
Atomic swaps
Opt-in auditability
Support for offline and online transactions
In A Nutshell
Many people desire to maintain their privacy when they enter the virtual world; however, this brings its drawbacks when it comes to the significant criminal element that comes with it. Cryptocurrency operators work tirelessly to detect and fight off several hacking attempts made by participants with malicious intentions.
Even though Bitcoin will likely remain the most popular cryptocurrency, government agencies are getting better at tracing Bitcoin transactions, and this is what’s been encouraging users to switch to more private alternatives.
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