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Ryan

Which are the most anonymous cryptocurrencies?

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Hello Ryan,
Cryptocurrencies are continuing to become popular across the globe because of its many unique features. The secrecy and privacy the cryptocurrencies offer, enable the users' identities and transactions to remain hidden.
However, there are many worries about the privacy of cryptocurrencies due to the rising cases of cybercrimes.
An investor who is most worried about the privacy of the cryptocurrencies they deal in should look for the ones that offer very high security.
Monero (XMR) is one of the best cryptocurrency that keeps the identities and transactions of the users adequately hidden. It grown popularity is because of its unknown characteristic. You can neither trace nor link the transactions that take place with Monero.
Dash was the first cryptocurrency whose features emerged as the most private. It uses an anonymization strategy known as Coinjoin to keep transactions anonymous. It blurs transactions by mixing different transactions made by different traders and reckoning them as one transaction.
ZCash is another most anonymous cryptocurrency. It applies a tool known as Zero-Knowledge Proof that allows its investors an alternative to conceal their transactions. The zero-knowledge Proof also blurs the amount involved in a certain transaction.
Verge (XVG) is also an anonymous cryptocurrency though it does not depend on cryptographic tools. It depends on the technology of The Onion Router (TOR). TOR rebounds the transactions of a user over many networks in different locations, hence hiding the user's identity.
Privacy is needed in the crypto world; however, there is a risk of illegal use, such as hacking attempts by fraudsters.

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Hi Ryan.
Users are choosing little known cryptocurrencies over market heavyweights like Bitcoin because of anonymity concerns.
Monero should be your first choice if you’re looking for a more private alternative. In addition to ring signatures, this coin uses stealth addresses to conceal sender and receiver identities.
Not forgetting Zcash that hides addresses and transacted amounts using its Zero-Knowledge Proof system. Zcash has also given birth to Komodo, hence, similar privacy features. However, Komodo boasts of an atomic swap that supports asset transfers without centralized intermediaries.
Another currency you should consider is Verge. Instead of cryptographic mechanisms, the coin utilizes I2P and TOR systems to safeguard identities.
Horizen also makes the list. Like Bitcoin, it has personal Z-Addresses and known T-Addresses. However, amounts sent from Z to T addresses will be reflected. Plus, it’s node network enhances anonymity.

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Hey Ryan,

When it comes to the anonymity of digital currencies, Monero (XMR) has got to be the first to name. The main reason behind its popularity is because it’s incredible in making users anonymous. Its transactions are very hard to track as Monero utilizes ring signatures and stealth addresses which serve to preserve the identity of transaction participants.

Komodo (KMD) is a second-generation cryptocurrency that started as a fork of Zcash and kept many of its features, such as the Zero-Knowledge Proof protocol for protecting privacy. One of the major distinctions is that Komodo operates as an atomic swap DEX protocol that fuels the peer-to-peer exchange AtomicDEX. 

Horizen (ZEN) is a blockchain ecosystem that provides its users with secure Z-Addresses and public T-Addresses that operate similarly to Bitcoin. Another Horizen’s feature that improves its anonymity is its broad node network.
 

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