The desire for anonymity of crypto investors is achievable with privacy coins

Privacy coins emerged as a revolutionary solution for security concerns in the crypto world. If those coins are in your investment target, this article is here to help.

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This article provides all you need to know about privacy coins

The importance of privacy cryptocurrency

Privacy coins were invented to help its users obscured their identity and data of digital assets. As being known, the transactions of classic cryptocurrencies, like Bitcoin, are traceable by anyone in the blockchain. Even though the deals do not accompany any personal information of traders, the public addresses in there are often more than enough for other parties to track the transaction. 

In contrast, privacy coins employ a wide range of protocols and technologies to conceal all of the details related to both involved parties of the transaction. Users can be self-assured when trading privacy coins because no addresses or transaction amounts are recorded. Therefore, their identity and the value of their digital assets are also hidden in the shadow. In short, privacy coins bring an anonymous crypto environment for investors to trade and claim full control over their assets.

Although there are a lot of concerns about criminal activities associated with the use of privacy coins, the benefits they offer to crypto investors are undeniable. That’s why they are increasingly popular in recent years, regardless of criticism. This popularity facilitates the creations of many privacy coins in the market, including those five introduced below.

 

Privacy coin: Top picks

1. Monero

 

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Monero is one of the most famous coins with feature-rich towards privacy

Monero is one of the most popular names among the privacy coins segment. In spite of its popularity, interestingly, most founders of this famous coin don’t want to cover themselves with fame. Five among seven original Monero’s developers decided to hide their identities to the public. This quite aligns with this coin’s characteristics.

The main thing that makes Monero outstanding is its privacy-focused features. The first thing to mention is Ring Signature which enables traders to hide among a group of users who share keys. The transaction is approved through a signing key that can be made from any member in a particular group of account holders. The outsiders who want to observe transactions will only be able to see those electronic signatures without identifying the identity of an individual signature. This means that it is much more difficult to link the specific account holder to any transaction. 

Besides obscuring user’s addresses, Monero also released a new technique call RingCT (Ring Confidential Transactions), which adds an additional layer of privacy by hiding the transaction value. Moreover, this privacy coin is also enhanced with the use of the stealth address. It is a one-time address that produced randomly every time transaction is made. Thanks to these features, the transactions are kept completely secret and can not be exploited by anyone outside.

 

2. Zcash

 

Zcash is also the name that investors may hear regularly when talking about privacy coins. The creation of this coin is mainly inspired by Bitcoin. The developer of Zcash made some changes in the original Bitcoin code to create a new and more private cryptocurrency. Hence, Zcash is also called as a fork of Bitcoin.

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Zero-knowledge Proof helps Zcash create a revolution in privacy coins market

The most innovative feature of Zcash compared to Bitcoin is privacy. Not only concealing the addresses of transaction recipients, but Zcash is also so private that the only information revealing in the transaction is date and time. The secret behind is Zero-knowledge Proof. To briefly explain, this is a technology that helps sender and receiver verify the transaction without disclosing any personal information. The use of this technique helps prevent all the cases that transaction details are shared publicly in the blockchain, or recipients’ information is stolen and exploited. 

Apart from privacy protection, Zcash is also more scalable with the ability to deal with more transactions at one time. Additionally, one more advantage of Zcash is a quick transaction processing time. The time for Zcash system to confirm a new block, which carries new transactions, is only 2.5 minutes, whereas, Bitcoin takes 10 minutes to do the same. 

 

3. Bitcoin Private

 

Another Bitcoin’s fork in the list of privacy coins is Bitcoin Private. Actually, Bitcoin Private is the product of fork-merge between Bitcoin and Zclassic, and of course, the main purpose is also to create a more privacy-centric coin. 

The outstanding technology used by Bitcoin Private is zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). Simply, zk-SNARKs is an advanced version of Zero-knowledge Proof, by both of which transactions are confirmed without necessary reveals of personal information. Additionally, with zk-SNARKs, the interaction between prover and verifier is also eliminated. This technology also obscures transaction metadata, which can be used to identify transaction recipients. Therefore, the transaction details and identity of both parties can stay anonymously and safely.

Similar to Zcash, Bitcoin Private also shows an advantage over Bitcoin by performing a faster transaction process with only 2.5 minutes. In addition, it utilizes a larger block size to 2MB, instead of 1MB as original Bitcoin.

 

4. Beam

 

Beam belongs to the young generation of the privacy coins market which is enhanced more privately and efficiently in comparison to predecessors. Beam is developed with a new technology used for the first time in the crypto world, which is Mimblewimble blockchain protocol.

Mimblewimble integrated both Confidential Transactions (CTs) and Pedersen Commitments Scheme in order to complement each other. This combination generates a “blinding factor” that helps both parties hide the exact amount of funds in the transactions by multiplying the transacted amount with a random value. In addition, this “blinding factor” also plays a role as the signing key for the transaction. By these, the transaction details are secured completely and prevented from being traced by the prying eyes. 

Moreover, Mimblewimble can overcome the drawback of CTs, which is the cumbersome transaction process, by combining blinding factors and dummy outputs. As a result, the use of CTs in Mimblewimble still reaches the highest level of privacy for users without lower productivity of the whole system.

 

5. Apollo

 

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Apollo is an all-in-one cryptocurrency among privacy coins

Apollo Currency has claimed itself as a revolution in the privacy coin market. Taking the advantage of a young coin, Apollo was designed with the best of forerunners by combining various features of 20 existing cryptocurrencies in one system, in order to become “all-in-one cryptocurrency, as to how the founder talks about this coin. 

Apollo Currency was built based on a totally brand new system called Olympus Protocol. This protocol is the aggregation of many functions that have been seen in the other altcoins before, such as low transaction fees, fast transaction time, multi-platform wallets, and many more. Among those features, there are several that integrated for privacy purposes. 

The first worthy to mention is Coin Shuffling. This feature allows account holders to hide the owning funds and transaction details by mixing up the coins between users. Additionally, IP Masking collaborated with the use of the Tor network, which is another privacy-focused feature to provide the implementation of untraceable transactions. These integrations create a very high level of anonymity that can satisfy investors who are considering investing in this coin.

Privacy wallet: another optimal solution for the identity-hiding issue

If privacy coins do not align with the investment desires of crypto holders, a privacy wallet like Incognito Wallet is another wise choice. With Incognito, users can invest in any cryptocurrency as they want without concern about privacy problems. This is achieved thanks to privacy-oriented features that the wallet offer to help users send and buy crypto anonymously.

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Incognito Wallet is a highly recommended identity-hiding solution besides using privacy coins

Incognito Wallet also integrates Zero-knowledge Proof which is also used by many popular privacy coins mentioned previously. This technology allows the wallet to implement untraceable transactions to keep information confidentially for users. Incognito Wallet is designed with Incognito mode to help crypto traders trade anonymously. By connecting to the public blockchain via a trustless portal, users can exchange their original coins to the privacy version at the rate 1:1. This version of the private coins will let traders implement transactions in complete anonymity and avoid any tracing activities from onlookers.

Incognito Wallet can be used on both iOS and Android platforms and totally free. Crypto investors who are interested in this wallet can get more information via the official website or contact supporting team for a quick inquiry.

Private POS crypto: A new way to financial freedom

The rise of Proof-of-Stake (POS), has made huge changes in the crypto world, including the emergence of private POS crypto, which will be explored in the content below.

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Private POS crypto is still new in the market and will be discovered in this article

What is Proof-of-Stake

POS is a less costly alternative to an existing consensus mechanism called Proof-of-Work (POW). POS is a protocol in which new blocks are produced and validated through staking. The participants (a.k.a nodes) will have to stake their cryptocurrency to the network and then be randomly chosen by an algorithm to become validators, instead of miners as in POW.

Although this process is designed to happen randomly, the node with a higher stake and longer coin age (the amount of time a node holds coins, at least 30 days) may have a bigger chance to be picked. 

Those deposits will be frozen for a certain length of time, which is called the unbonding period. If the validator is no longer participating in the POS network, the stake will be unlocked after a while, not immediately. Although the money is locked, validators are incentivized to do so because of the reward. Whereas the reward amount is fixed in the POW system, it is variable in POS protocol and mainly depends on the number of validators participated at the same time.

Private POS crypto

Simply, a privacy coin is a cryptocurrency that is able to obscure its user’s data. It means that the confidential information, such as IP addresses, sent or received funds, and account balance, will be hidden in the blockchain network and only accessed by users. This can help crypto holders keep their identity and financial status away from hackers, technological criminals, governments, or business partners. 

Private crypto is not a new concept. It has actually become increasingly popular in recent years. However, users may be much more familiar with private POW coins rather than private POS crypto. In fact, private POS crypto has fallen behind in both terms of quantity and popularity in comparison to POW ones.

Traders can easily name some of the private POW coins, for example, Monero, Zcash, Verge, Bitcoin Private, and so on, but still be vague about private POS cryptos available in the market. Therefore, the list of some private POS cryptos will be discovered right below in order to provide more information and suggest more options for traders to consider.

1. Dash

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Dash is the most popular private POS crypto that can be able to compete to other POW coins

Dash is the most well-known name in the list of private POS crypto. In fact, Dash is not truly POS crypto. It still uses POW as consensus mechanism to mine new coins but also integrates the Masternode network of POS. Therefore, it is considered as a hybrid of POS and POW.

The use of Masternode bring to Dash the most crucial feature which is PrivateSend. Basically, this is a coin-mixing process in which at least three people are required to join. The request for a private transaction will be sent to the Masternode (which is known as a computer wallet that maintains and provides specific services in the blockchain).

Your request is matched with other transactions happening at the same time and the coins will be mixed up inside the network. This process contains several rounds that are independent of each other to help improve the level of anonymity of traders. Ultimately, crypto will come safely to receivers and all the details of involved parties and transactions will be completely hidden in the blockchain. 

Another key feature of this crypto is InstantSend. As indicated in the name, this feature allows Dash transactions to be verified in a few seconds, almost instantly after users start a payment. This brings a big advantage for Dash when competing with other cryptocurrencies.

2. PIVX

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PIVX is believed to be a new revolution in the segment of private POS crypto

PIVX stands for Private Instant Verified Transaction and is designed to be a new generation of private POS crypto segment. PIVX is an upgrade aggregate of Dash and Zcoin, but eliminated the weaknesses of both predecessors.

Privacy is the most important feature that users are looking for in PIVX. This coin is completely anonymous and obscures all of the user’s information. This feature is achieved thanks to the use of Zerocoin Protocol. With the help of a separate private coin, called zPIV (with PIV denotes for PIVX, z is for Zerocoin), this protocol allows all the transactions to be made without linking them to the original coin’s history. zPIV is created, as a return for “burning” PIV in the network, and then used for the transactions. 

The conversion rate between PIV and zPIV is 1:1, which means their values are the same and can be swapped to each other with a very small fee of 0.01 PIV. Besides that, PIVX also released zPOS (Zerocoin Proof of Stake) to offer users the very first private staking system in the crypto world.

Apart from privacy, PIVX is also integrated with SwiftTX. This feature enables near-instant transactions, similar to Dash, which allows PIVX users to complete transactions within a second with a nominal cost. One more unique point of PIVX is that unlike the other cryptocurrencies, PIVX has unlimited supply and can be continuously generated.

3. NAV Coin

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Despite low popularity, NAV Coin is still expected to become a popular private POS crypto with many new features coming soon

Another name in the list of private POS crypto is NAV Coin. NAV Coin is the first cryptocurrency that switches from POW to POS as consensus method. However, it is still underrated in the market of the privacy-centric coin.

NAV Coin uses the NavTech subchain to protect the privacy of crypto holders. NAV Coins will be sent to a subchain of the main blockchain, instead of coming directly to the receiver. This subchain will pass the transaction around through multiple servers to make sure that no one is able to follow and trace the transaction details before it goes to final destinations. 

Although the process may sound long, traders do not need to wait too long for a transaction to be completed. This fast transaction time is also an upside of this crypto. Besides that, the company also plans to develop and release more privacy-focused functions, such as fake transaction and dummy accounts, in order to increase the level of anonymity.

4. Others

The list of private POS crypto should be longer with other names, for example, NIX, Beldex, Phore, and Particl. Each of them has its own unique features that can satisfy the diverse needs of users. However, those cryptocurrencies are still new with a low level of popularity and need more time to set a foothold in the market.

Another solution for private transactions in the crypto world.

Besides using private cryptocurrency, investors also have one more solution to protect the privacy of transactions. It is to send and buy crypto anonymously with Incognito Wallet.

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Incognito Wallet is a new solution to protect privacy in trading cryptocurrency

With this mobile wallet, users do not necessarily invest in any private coin to be able to trade in anonymity. All they need to do is to choose the cryptocurrency that they want to use and let’s Incognito Wallet help to conduct totally private transactions. 

Once turning on “Incognito mode”, the cryptocurrency for a transaction will be converted to a private coin, which is unable to be traced in the blockchain, at the rate 1:1. This privacy version will then be used in the transaction and the details of this process will be hidden to the third parties. It helps investors not to necessarily care whether the crypto is private or not and they can trade anonymously with any type of digital money that this wallet supports.

Investors can easily get Incognito Wallets on their iOS or Android smartphone. All of the amazing functions of this wallet can be found on the website or contact us for more information. 

The best ways to send Bitcoin anonymously

Privacy is one thing that all Bitcoin users are concerned about nowadays. If you’ve ever wondered how to send Bitcoin anonymously, this article is here to answer your question.

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This article will guide to send bitcoin anonymously

Is Bitcoin private? 

The answer is “No”. As an application of Blockchain, a technology that enhances transparency, Bitcoin doesn’t come with privacy or anonymity. Instead, all Bitcoin transactions are recorded on a public ledger and viewable to the whole network. Therefore, anyone can see the transacted amount and wallet addresses of the sender and recipient. 

However, these transaction details don’t link to any real identity so they couldn’t reveal who the users are. That’s why Bitcoin is considered as pseudo-anonymity or pseudonymous. 

Although personal information can’t be exposed through Bitcoin transactions, it is possible to track down the origin of these activities. When trading on licensed exchanges, users often have to provide information for KYC authentication, which will link their identity to Bitcoin addresses. If hackers attack these sites, they can also access the data stored. 

For the above reasons, it is highly recommended that Bitcoin users seek ways to send Bitcoin anonymously. 

Reasons to send bitcoin anonymously 

Even though “anonymous crypto” is often associated with criminal activities, there are a number of legitimate reasons to keep your crypto transactions untraceable. Whether you’re an individual or an organization, it is beneficial to spend your assets without anyone knowing. Here are some advantages of anonymous Bitcoin transactions:

1. Security 

As explained earlier, by design, all Bitcoin transactions are stored on a public ledger, which means anyone can see where your transactions go to and how much you hold in the account balance. If you don’t take any step to improve privacy, hackers can track the spending habits to get access to your funds. From there, they can even figure out who you are and steal your personal data. Therefore, to prevent your identity from being exploited, you need to know how to send bitcoin anonymously. 

2. Business confidentiality 

If you’re an employer, you may consider keeping your payment to employees private. By sending Bitcoin with anonymity, you can keep your company’s budgets and expenses details from disclosure. Also, when doing business, you might have a list of private partners and investors who don’t want their identity to be revealed. That’s when you have to seek privacy solutions like untraceable Bitcoin transactions. 

3. Peace of mind 

When you have the full control and ownership of your crypto asset, you don’t have to worry about your financial status being revealed. Another perk of sending bitcoin anonymously is that you can keep your transaction history totally private as there are many kinds of purchases you just want to keep for yourself, for example, a surprise gift for your loved one or special medical treatment. 

So how can you make untraceable bitcoin transactions? Take a look at below methods! 

Ultimate ways to send bitcoin anonymously 

As privacy becomes more and more crucial to individuals and organizations, private transaction methods also emerge. For cryptocurrency and especially Bitcoin, it’s not difficult to look up the term “send bitcoin anonymously” on Google and find out numerous ways to transact with anonymity. However, each method has its own pros and cons so you’d better research carefully before giving it a try. 

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There are various ways to stay anonymous when sending bitcoin

1. Bitcoin Mixing 

Bitcoin mixing, known as coin tumbling or laundering, is a process that tries to break the connection between sender and recipient’s addresses. The process goes through a couple of steps: 

Step 1: You submit the amount of coin you want to be tumbled.

Step 2: The laundering service will mix it up with someone else’s cryptocurrency to release a fresh batch of coins under a new address. 

If done properly, this method can make your transaction almost impossible to trace and you don’t have to leave any personal information at all. There are solid options for Bitcoin mixing on the market such as Smart Mixer, Wasabi Wallet and Samourai Whirlpool. To ensure you’re completely anonymous, remember to access these services with an encrypted VPN and private browsers like Tor or Brave. 

If you’re an experienced crypto user, you can try coin tumbling to send bitcoin anonymously!

2. Using a new Bitcoin address every single time 

You can break the link between the sender and recipient’s addresses by using a new address whenever making a Bitcoin transaction. With this method, hackers cannot trace your spending pattern and find out your original address. Therefore, your identity will be masked. Moreover, as your fund is divided into small portions and stored in different places, no one can calculate how much you actually have in your account. 

Some digital wallets such as Trust Wallet, Cobo Wallet and Blockchain Wallet allow you to generate as many addresses as you want. However, this method is not easy for beginners because you have to manage all the addresses and their private keys. 

3. Privacy wallets 

This term has yet to become familiar with mainstream users, however, private crypto wallets appear to be a superior solution to untraceable Bitcoin transactions. Similar to normal Bitcoin storages, these wallets allow users to send, receive and store crypto assets. Moreover, they integrate privacy features to keep transactions from being tracked. 

If you need to send bitcoin anonymously and effortlessly on a daily basis, the options below are what you’re looking for.  

Incognito Wallet

Despite being a new name in the crypto sphere, Incognito Wallet is up on the list of best privacy wallets. If you’re looking to send and buy crypto anonymously, this app is highly recommended for you.

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Incognito allows you to store, receive and send bitcoin anonymously

With a built-in “incognito” mode, you can turn any cryptocurrency of your choice, including Bitcoin, into its privacy version and shield your funds from public exposure. Then, you can spend or sell bitcoin anonymously.

As a sidechain for privacy coins, Incognito connects with Bitcoin blockchain via a trustless portal. Using smart contracts and trustless custodians, Incognito allow users to obtain privacy bitcoins (and other cryptocurrencies) issued at a rate of 1:1. When you need to switch these privacy coins to normal, you can do it easily without involving any third party. 

Paper wallet 

A paper wallet is a perfect option for gifting. It is basically a piece of paper that has your Bitcoin address and private key printed out. Whenever making a transaction, you will need to scan the QR-codes and add the keys to a software wallet. Paper wallets can be generated for free using an online service like Bitcoinpaperwallet.com.

So how paper wallet helps you send bitcoin anonymously? The main purpose of paper wallet is to keep your assets offline and away from the chaotic Internet as it is created uniquely and doesn’t contain your identity. Therefore, if you insert the private key to a digital wallet and make a transaction, it’s almost impossible to track down the origin. Furthermore, if you give this document in-person to someone, no one except you and the recipient could know about the fund.  

Electrum 

Electrum is known as the oldest and most established bitcoin wallet on the market. It is a software wallet that is available for Windows, iOS and Linux.

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Use Electrum with Tails system to keep your transactions untraceable

Electrum is well-recognised by its high-security feature. The wallet gives you a password seed which helps recover your assets once the private key is lost. You also have full ownership of your funds and keys since Electrum is a self-hosted wallet. 

When operating on Tails system, Electrum allows users to keep their transactions anonymous. According to the development team, Tails works as a live system to preserve users’ privacy and anonymity. It helps you to censor personal data whenever using the Internet unless you turn it off.

If you prefer an option to send bitcoin anonymously for desktops, Electrum might be a solid choice. 

Final thoughts 

As you’ve learnt various ways to send bitcoin anonymously, try to take advantage of them and you’ll see how Bitcoin lives up to its potential. You may have different purposes when seeking a solution to untraceable bitcoin transfer but high privacy and convenience should be the top priorities. Whether you want to keep all your transactions private or not, Incognito Wallet is a useful app for your everyday use. 

Best Privacy Coins and best way to send crypto anonymously

Privacy Coins have surfaced since the crypto community looked for ways to send coins privately. This article will show you the list of best Privacy Coins.

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This article shows you the list of the best privacy coins.

Why do you need a Privacy Coin?

The public blockchain, with Bitcoin as an example, has a public ledger that records all the transactions made on its network. That means everyone can access the blockchain, track any transaction and details involved.

Monero uses cryptography to shield sending and receiving addresses, as well as transacted amounts. That technique makes XMR transactions confidential and untraceable. 

Besides, Monero has a strong brand-name and good marketing team to make it more and more popular. The community of this project is very strong, spreading all over the world. You can easily find an XMR holder in your living area and make a transaction with him.

However, because of its anonymity, Monero is frequently used on the dark market for dark purposes. This harms the project’s reputation and as a result, XMR is a target of the authorities all over the world.

Who should use Privacy Coins?

If you are concerned about your privacy, crypto assets and further, your real-life safety, you should learn about ways to protect your transactions.

As previously mentioned, it’s a super high risk when you just transact digital coins without wondering about its anonymity. Your funds are targeted by prying eyes, your financial status is revealed as well. 

Privacy coins delete all these risks. This kind of cryptocurrency turns on a ‘protection mode’ for your assets so that you no longer need to worry about any security threats. 

After understanding why you should use privacy coins, let’s move the list of the best privacy coins nowadays.

Top 5 Best Privacy Coins in 2020 and beyond

The cryptocurrency community has never been as concerned about the privacy issue as it is now. Thus, a number of privacy-oriented projects are in great demand. Come with both pros and cons, these are the best privacy coins in 2020 and beyond.

Best Privacy Coins #1: Monero (XMR)

Old but gold. Monero (XMR) is considered one of the best privacy coins on the market currently. 

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Monero (XMR) has long been the best privacy coin on the market.

Monero uses cryptography to shield sending and receiving addresses, as well as transacted amounts. That technique makes XMR transactions confidential and untraceable. 

Besides, Monero has a strong brand-name and good marketing team to make it more and more popular. The community of this project is very strong, spreading all over the world. You can easily find an XMR holder in your living area and make a transaction with him.

However, because of its anonymity, Monero is frequently used on the dark market for dark purposes. This harms the project’s reputation and as a result, XMR is a target of the authorities all over the world.

Best Privacy Coins #2: Dash (DASH)

Being a fork of Bitcoin, which has a transparent blockchain, Dash isn’t a fully privacy coin. Instead, it offers privacy protection for transactions as an option for users. 

As usual, you can check addresses and transactions on Dash blockchain. But you have an option to use the PrivateSend feature to obscure transaction details. This interesting feature marks Dash on the list of the best privacy coins.

Moreover, when you send a coin, your coin is mixed with other coins that are sent on the network. Hence, no one can trace your Dash payment or figure out how much was sent. Resultantly, your financial status is fully preserved.

Unfortunately, one of its cons is that Dash is used as a payment method on the dark market. Thus, similar to Monero, this project isn’t favored by many governments.

Best Privacy Coins #3: Zcash (ZEC)

As Bitcoin transparency challenges modern notions of privacy, many projects aim to be an alternative to Bitcoin in the privacy version.

And that’s exactly what Zcash is. This project describes itself as:

“Like Bitcoin, Zcash transaction data is posted to a public blockchain; but unlike Bitcoin, Zcash ensures your personal and transaction data remain completely confidential. Zero-knowledge proofs allow transactions to be verified without revealing the sender, receiver or transaction amount. Selective disclosure features within Zcash allow a user to share some transaction details, for purposes of compliance or audit.”

This semi-transparency mechanism makes Zcash one of the best privacy coins exiting on the market. However, users can not have full-control privacy when they transact ZEC on KYC exchanges. Because exchanges that require KYC evidence don’t support private transactions. Like it or not, you have to use Zcash transparently.

Best Privacy Coins #4: Verge (XVG)

Verge uses the Tor IP Anonymizer to make transactions while still maintaining the anonymity. The underlying technique of Verge provides users to transact digital coins both through public and private blockchains. This is why Verge is usually placed in the list of best privacy coins. 

Being a ‘well-recognized’ project, Verge aims to be s digital currency designed for everyday use. Verge makes it possible to engage in direct transactions quickly, efficiently and securely. 

Best Privacy Coins #5: Grin (GIN)

Launched in January 2019, the Grin project is built on the Mimblewimble protocol, one of the most innovative technologies in the privacy-verse. This brings Grin to stand in the ranks of the best privacy coins.

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Grin is an interesting privacy coin implemented on Mimblewimble protocol.

Grin describes itself as below:

“Grin has no amounts and no addresses. Transactions can be trivially aggregated. To hide the origin of a newly created transaction, it gets relayed among a subset of peers before it is widely broadcasted.”

Along with Beam (BEAM), which is also built on Mimblewimble protocol, Grin has become an emerging and potential project that helps to obscure the sender’s transactions. 

Is the Privacy Coin the best way to send crypto confidentially?

Despite all of the advantages, privacy coins are not the best way to send crypto confidentially. Let’s take a look at an example below.

Saying you have 1 BTC and want to send it to Mike without anyone knowing. Then you have to use BTC to buy XMR (or DASH, XVG or other privacy coins) at the current market price, which is volatile every single minute. After that, you send XMR to Mike confidentially. Finally, Mike has to trade XMR to BTC at a different market price, meaning that Mike can’t own the exact 1 BTC.

This process also takes a lot of time and procedure for both you and Mike. Moreover, sometimes no one is willing to trade BTC/XMR with you and you have no way except trade it on a crypto exchange. 

With all this in mind, you should better be looking for other ways to send and receive coins privately.

Incognito Wallet – The ultimate way to send and buy crypto anonymously

Instead of using Bitcoin (or other crypto assets) to buy privacy coins, there is a method that turns your favorite coins into the privacy version.

The method here is Incognito Wallet, a privacy wallet that keeps your transactions untraceable.

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The Incognito Wallet is the perfect way to send crypto confidentially.

Incognito is designed as a sidechain for all the blockchains, which connects to Bitcoin, Ethereum or Binance Chain via a trustless portal. Thanks to this technique, you can turn any cryptocurrency of your choice into its privacy version. Let’s continue the aforementioned example:

Saying you have 1 BTC and want to send it to Mike without anyone knowing. You can use the Incognito Wallet to switch Bitcoin into private Bitcoin (pBTC) at the rate of 1:1. After that, all you need to do is to send pBTC to Mike’s wallet address. Finally, Mike receives 1 pBTC and turns it back to 1 BTC originally.

Especially, you can process all of those actions without any cost. The Incognito Wallet is totally free and available on both Android and iOS.

Closing thought on “Best privacy coins”

Privacy coins are one of the most controversial topics in the crypto-sphere. Many argue best privacy coins are the most useful tool for money laundering, others praise its role for privacy rights.

But one thing we can agree is that privacy coins need to improve constantly, as there are many potential competitors such as The Incognito Wallet. The more it keeps developing, the more market share it gains.

Privacy mode for BAND tokens

Data Governance Framework for Web 3.0 Applications 

Band Protocol connects smart contracts with trusted off-chain information, provided through community-curated data providers.

We’re excited to be able to offer support for BAND tokens here on Incognito – the first-ever platform for privacy tokens.

Right now, if you send, receive or store BAND, that’s all entirely visible on the Ethereum Explorer. Anyone can uncover your BAND holdings and activity with a single click. Having the choice of privacy is really important — that’s why we built the Incognito-Ethereum bridge and a super simple mobile interface.

This article will explain how to participate in #sendBANDprivately to earn free, private, BAND.

New to sending BAND privately? Check out the walkthrough here.

Download the wallet: iOS | Android

Learn more: https://incognito.org/

Contact the team: https://t.me/incognitochain

About Incognito

Incognito is a platform for privacy tokens, powered by its own proof-of-stake sidechain that attaches to any blockchain to confidentially transfer crypto assets. Developers can also easily create their own privacy tokens on Incognito.

Incognito utilizes zero-knowledge proofs optimized for mobile and achieves near-instant transaction speeds through state sharding.

About BAND Protocol

Band is a protocol for decentralized data governance. We provide an open-source standard and framework for the decentralized management of data in the Web3 technology stack. Band Protocol solves the issues plaguing current data infrastructures and decentralized technologies as a whole. It is estimated that over 1.2 million terabytes of data are stored on the web and currently much of this is unstructured or unreliable. Through a standard framework, Band creates a community-driven data curation ecosystem that is secure, reliable and accessible. Band provides a socially scalable method for widespread adoption and integration of trusted data that all applications can utilize.

WTC Meets Privacy

5 February 2020 – It is with pleasure that we announce that Waltonchain’s WTC token is now available in the Incognito Wallet and on the pDEX, the world’s first truly private decentralized exchange.

Waltonchain operates in the supply chain sphere, where traceability of stock and transparency are of the utmost importance. However, the inverse is true when it comes to cryptoassets – details of balances and information related to trades are better off hidden, which is where Incognito comes in. 

We’re giving WTC holders the option of a privacy version of their token, known as pWTC, so they can transact and store their assets privately. 

To obtain pWTC, users simply need to download the Incognito Wallet, available for both Android and iOS. With it, they can deposit their WTC and exchange it for the aforementioned privacy version at a rate of 1:1 – enabling them to store, send and receive tokens under the secure veil of anonymity, so that nobody can track or trace their activity of balances. Furthermore, they can swap it back to WTC whenever they like

Continue reading WTC Meets Privacy

Weekly report #6: what’s new and what’s good

Hope everyone’s been having a sweet 2020 so far. Here’s what we’ve been up to:

1. Development grant received from Binance to… keep doing what we’re doing

Our tech team has received the Binance X fellowship to keep building killer software for the world. This grant will fund the development of Portal — a completely decentralized universal bridge that will enable incognito mode for any cryptocurrency from any blockchain.

Learn more about the fellowship

Check out Portal specs

 

Continue reading Weekly report #6: what’s new and what’s good

HEDUS: Blockchain education for K-12 students

How important will blockchain be for Generation Z? On the one hand, many experts say we’re still years away from buying coffee with Bitcoin. On the other, China continues full steam ahead on their national cryptocurrency. While there’s still uncertainty about when blockchain will enter our daily routine, there is little doubt that it will.

The next question is, how should K-12 teachers introduce blockchain to their students in 2020?

Continue reading HEDUS: Blockchain education for K-12 students

Incognito offers Zilliqa users with a powerful privacy solution for asset transfers and trading

3 January 2020 – Incognito, an open-source project focused on building privacy for the crypto space, has teamed up with the high-throughput, high-security blockchain protocol Zilliqa to deliver reliable privacy solutions for its users, developers and traders. Incognito is a blockchain-agnostic platform that enables complete anonymity for today’s most promising crypto assets.


Continue reading Incognito offers Zilliqa users with a powerful privacy solution for asset transfers and trading

Verified Badges for Custom Privacy Coins on Incognito

Custom Privacy Coins created on the Incognito blockchain can now become verified! To receive a verification badge for your coin, complete the following steps:

  1. Issue a new privacy coin on Incognito.
  2. Fill-in required fields for verification badge
    1. Creator Name: How you choose to be identified; could be your first name, telegram/twitter handle, etc.
    2. Website: A web domain for your Privacy Coin project. (e.g. myprivatecoin.co)
    3. Email Address: An email address that matches your website. (e.g. admin@myprivatecoin.co)
  3. Email the Incognito team (go@incognito.org) with your TokenID, and make sure your TokenID is clearly posted on your website.
  4. We will review your info and respond within 2 work days.

The goal of the ‘verified’ badge is to help users find active Privacy Coins, and to make it easy for creators to promote their Privacy Coin and connect with customers. 

Continue reading Verified Badges for Custom Privacy Coins on Incognito

Better e-commerce: anonymous payments with BUSD

Binance’s fully regulated USD stablecoin, BUSD, seamlessly integrates crypto into world commerce, loans, payments and more.

Now, BUSD holders can spend their digital dollars on Autonomous, a beloved e-commerce retailer of smart gadgets and workplace products.

It’s classic crypto-commerce… with an important twist.

In conjunction with privacy blockchain Incognito, Autonomous customers will be able to choose privacy BUSD (pBUSD) as a payment option. Any BUSD holder will be able to seamlessly convert their BUSD to pBUSD via the Incognito Wallet, to take advantage of the very first privacy-focused crypto-commerce experience.

Continue reading Better e-commerce: anonymous payments with BUSD

Binance funds development of the Incognito Portal

Incognito has been awarded the Binance X fellowship, to create “free and open-source software that will enable new innovations and businesses in the crypto economy.” Incognito will facilitate Binance’s goal of crypto adoption on a global scale by ensuring our fundamental right to privacy is protected in this borderless, digital world.  

The Binance X fellowship stipend will fund development of the Incognito Portal – a fully decentralized, universal bridge to Binance Chain and beyond. Portal will allow the user to anonymously transact any amount of BNB and BEP2 tokens without relying on a trusted third party.

Continue reading Binance funds development of the Incognito Portal

Weekly report #5: a 2019 retrospective

How has 2019 been for you? Thank you for spending a little time with us.

This year, we built a product that people use. That in itself is incredible, and a sign that maybe we’ve stumbled upon something that people really want, in an industry that sometimes feels confused.

In November 2019, Incognito said hello to the world. Since then, there have been 122,000 anonymous transactions. 1,200,000 blocks produced. 700 nodes online. 30 community-created trading pairs. 16,000 completely confidential trades.

Continue reading Weekly report #5: a 2019 retrospective

Speed x Privacy for Ethereum – Matic x Incognito

December 20, 2019 – Today, Matic and Incognito announce their collaboration to deliver essential functionality for Ethereum – the blockchain that powers a huge majority of all existing use-cases for the technology.

Through the use of decentralized sidechains, Matic brings speed and Incognito brings privacy. Both already running on their respective mainnets, these projects demonstrate a shared commitment to increasing real-world viability for blockchain-powered apps and currencies.

Continue reading Speed x Privacy for Ethereum – Matic x Incognito

Weekly report #4: what’s new and what’s getting bigger

Hope you’ve been having a great week. Here’s the best of the best from ours:

1. Privacy Coin awards is LIVE!

Are you creative? Issue the most innovative, widely transacted privacy coin direct from your Incognito wallet app and earn PRV rewards.

Get more details + view the current leaderboard

Continue reading Weekly report #4: what’s new and what’s getting bigger

The Incognito-Binance Chain bridge: privacy for the entire Binance ecosystem

The Binance roadmap is one of the most ambitious in the sphere – signaling leaps towards a fully tokenized economy. In the race between blockchain protocols, speed and scalability are crucial parameters by which to measure both real-world applicability and long-term sustainability. Binance Chain scores highly in both.

Privacy will be the third.

Continue reading The Incognito-Binance Chain bridge: privacy for the entire Binance ecosystem

Privacy Crypto Competition

Make privacy crypto transactions to win!

Special announcement: we have decided to temporarily pause the current competition and will re-open the competition after 1 month.

Privacy Crypto Competition is a competition for Incognito Wallet users who transact Privacy BTC (pBTC), Privacy ETH (pETH), or Privacy USDT (pUSDT). To join, all you need to do is to download the Incognito Wallet, turn your cryptos into privacy cryptos, and transact privacy cryptos of one of the 3 types mentioned above.

The competition will take place from 17:00 UTC, December 18, 2019 to 23:59 UTC, January 31, 2020. The winners will be announced in February 2020.  

Continue reading Privacy Crypto Competition

Privacy Coin Awards: Issue your own cryptocurrency to win!


Announcing Privacy Coin Awards
, a competition for custom cryptocurrencies created on the Incognito blockchain. To join, just download the Incognito Wallet and tap “Issue a Privacy Coin.” Create your own cryptocurrency in 15 seconds, set up a customer loyalty program, trade IOUs, and more.

Continue reading Privacy Coin Awards: Issue your own cryptocurrency to win!

pDEX listing announcement: TOMO has been added

Today, Incognito is glad to announce that users will now be able to trade TOMO completely anonymously on the Incognito pDEX.

Following on from the announcement earlier this month, the Incognito-Tomochain bridge now allows users to seamlessly convert their TOMO to pTOMO – to take advantage of the first-ever completely private trading experience.

The Incognito team is excited to list TOMO by providing liquidity for the first pair pTOMO/pUSDT.

Continue reading pDEX listing announcement: TOMO has been added

New pair: pFTM/pUSDT is now live on the Incognito pDEX

Fantom - USDT pair

Today, we’re excited to welcome FTM to the Incognito pDEX!

All FTM holders will now be able to deposit their coins to receive privacy 1:1 counterparts (pFTM) that are tradable on the world’s first completely anonymous decentralized exchange.

Ready to trade FTM completely anonymously?

Incognito is happy to supply liquidity for the first FTM pair: pFTM/pUSDT.
Continue reading New pair: pFTM/pUSDT is now live on the Incognito pDEX

Now and in the future: what it’s like to be an Incognito Node

Hello Incognito nodes! Welcome to the beginning. Thank you for powering this network and creating a solid foundation to help it scale. As Incognito grows, node numbers will change, and so will current configurations.

Here’s a quick rundown of where we’re currently at, and a brief overview of where we’re headed:

Short term (now to 1 year from now)

1. Current number of nodes: 860

As of 11 December 2019, this includes both virtual nodes (staked) and physical nodes (online and in transit).

2. PRV earnings per epoch: ~10.92 PRV for the first year

This number does not include PRV earned through transaction fees, which will vary based on network usage.

Continue reading Now and in the future: what it’s like to be an Incognito Node

Neo goes incognito: privacy for Neo’s smart economy

Dec 6, 2019 – Today, Neo and Incognito announced their intention to collaboratively enhance privacy for the growing Neo ecosystem. By building a trustless privacy bridge between the Neo and Incognito blockchains, Neo will soon be able to empower it’s 2,000,000 users with untraceability and enhanced privacy.

Continue reading Neo goes incognito: privacy for Neo’s smart economy

Weekly report #2: November highlights

Dear friends,

Hi! I’m Andrey. I handle biz and outreach at Incognito. It’s been awesome getting to know some of you guys a little better over the past few months.

This week, I wanted to share a quick recap of November – it’s been hectic, to say the least – in the best possible way!

Since the mainnet launch, here are the highlights:

Continue reading Weekly report #2: November highlights

Pay Incognito on Autonomous and get $25 rebate

In the wake of today’s privacy concerns, e-commerce startup Autonomous is glad to integrate ‘Pay Incognito’ as one of its payment methods. Pay Incognito will kick off from the first day of 2020 for shipping addresses in US.

 

As a different, privacy-protecting alternative to traditional payment options such as Paypal or Amazon Pay, buyers will be able to purchase smart devices and workspace products completely anonymously with untraceable crypto.

 

Continue reading Pay Incognito on Autonomous and get $25 rebate

Newsletter kick off: weekly report #1

Welcome to the very first issue of the Incognito newsletter: short and sweet notes containing announcements, updates and reading recommendations.

There’s always so much going on in so many different channels, so we wanted you to have a place to keep track of it all. We’ll be publishing these every week on the blog – leave us your email address on the left, and we’ll send them directly to your inbox.

1. pDEX is officially LIVE! The first pairs are pBTC/PRV, pBTC/pUSDT, and pUSDT/PRV. Just tap the little pDEX icon at the bottom of your screen to get started – make sure you have the latest version of the Incognito Wallet!

Continue reading Newsletter kick off: weekly report #1

pUSDC: privacy for crypto-commerce

USDC is one of the most successful responses to the concern that for Satoshi’s new electronic payment system to work on a larger scale, transacted currencies need to maintain a stable value. With USDC, you can comfortably make daily purchases with crypto, or accept crypto at your business.

However, any USDC transaction and any USDC holder is completely exposed on a number of public block explorers. Sender and receiver IDs, amounts, balances, timestamps and more — are completely visible to anyone who cares to look:

 

Stability has been integral to crypto adoption. Privacy is a right for all those that adopt it.

Continue reading pUSDC: privacy for crypto-commerce

Welcome to the Node Unboxing Contest

To celebrate the release of our clever little device, we’re giving away prizes for the best Node unboxing videos.

Send us a clip of you getting to meet your Node, and win Node devices for your friends, Incognito t-shirts, and our native token PRV.

How? It’s pretty simple:

Continue reading Welcome to the Node Unboxing Contest

Incognito officially supports private TOMO transactions

 

Holders of TOMO will now be able to send, receive and store their tokens with total privacy. Incognito is excited to announce that a bridge has been built between TomoChain and the Incognito sidechain, allowing TOMO holders the option of enabling incognito mode for their crypto whenever needed.

“TomoChain is one of the most exciting projects in this space today,” said Duy Huynh, founder of Incognito. “The team and community continually develop and acquire use cases for its technology; with Incognito, they now have an option to enable privacy for not just TOMO, but also TRC20 tokens and dApps created on TomoChain.”

Continue reading Incognito officially supports private TOMO transactions

Incognito pDEX: How it works and how to use it

UPDATE (11 December 2019): Now anyone can be a liquidity provider! For instructions on how to add your own pair or supply liquidity for an existing pair, scroll to the bottom of this article.

pDEX is a different kind of exchange. It’s non-custodial (which means your money is actually yours), it’s decentralized (built entirely on-chain), and because it’s powered by Incognito — it’s completely anonymous, of course.

It also facilitates instant matches by means of an automated market-making mechanism (more on this in a bit), and offers a chance for anyone to become a liquidity provider and earn a percentage of trading fees.

pDEX is the privacy-focused, inter-blockchain and instant-matching rendition of Nick Johnson and Vitalik Buterin’s conversations on Reddit circa 2016, and Hayden Adam’s implementation of Uniswap in 2018. Continue reading Incognito pDEX: How it works and how to use it

Portal: incognito mode for every coin

Current blockchain interoperability solutions mostly involve building ad-hoc bridges (CosmosPolkadot). As the number of blockchains increases, doing it ad-hoc is no longer an option. We just can’t build N2 bridges.

Scheduled for Q1 2020, Incognito Portal takes a different approach: build once, work with any blockchain. Portal is a general bridge design that connects Incognito to any number of blockchains, allowing for secure two-way transfers of crypto whenever privacy is needed. This means any coin can now be a privacy coin.

Continue reading Portal: incognito mode for every coin

Issue anonymous cryptocurrency in 60 seconds

The Incognito platform makes it dead simple to issue your own privacy coin. Choose a name, symbol and the total supply of tokens, and a new privacy coin will be created on the Incognito blockchain. Send and receive coins using the built-in QR scanner, or with your Incognito Address.

Continue reading Issue anonymous cryptocurrency in 60 seconds

pDEX: The first privacy-protecting decentralized exchange

The first generation of exchanges includes centralized exchanges like Binance and Coinbase. The second generation of exchanges comprises of decentralized exchanges (DEX) like Bancor, Kyber, and Uniswap. pDEX is an upgraded DEX. Like decentralized exchanges, it is trustless. It also implements additional features such as privacy via zero-knowledge proofs, high throughput via sharding, and inter-blockchain trading via interoperable bridges.

Continue reading pDEX: The first privacy-protecting decentralized exchange

Incognito Mainnet v.0 Configuration

Incognito is live! It’s the beginning of a better, safer internet. This document details the key parameters for Incognito Mainnet v0, and provides the reasons why we selected the initial values for these parameters.

Some of these parameters will likely be fine-tuned over time. Parameter fine-tuning is a crucial part of the Incognito mechanism design. Parameter fine-tuning responsibility is initially handled by the core team, but will be and gradually transferred to the community once self-governance is implemented in early 2020.

Continue reading Incognito Mainnet v.0 Configuration

Incognito launches Mainnet v.0

The world’s first platform for privacy tokens is officially live.

1 wild year, 12,000+ commits, 1M+ lines of code, 14 public Github repositories, 700+ nodes, and 3000+ wallet downloads later – the mainnet is finally here.

If you’re just joining us, welcome! Incognito is the very first platform for privacy tokens – an open-source, self-funded project that hopes to tackle one of the biggest threats to the crypto space. Incognito is not a privacy token. It’s an entire mode. 

Anyone can now turn on incognito mode for their favorite coins, to privately send, receive and store their BTC, ETH, BNB and more. Anyone can now issue their own privacy tokens in under a minute, and build their own privacy-focused applications on the Incognito Chain. The mainnet launch brings us one step closer to delivering privacy by default, for our new economy and for the new decentralized web.

Continue reading Incognito launches Mainnet v.0

Node device FAQs

Since launch, hundreds of clever little Node devices have been adopted into loving homes. We couldn’t be more excited, or more grateful for the support. Our hardware team is absolutely stoked.

Take a sneak peek of what's in the box

We also received many excellent questions from potential Node adopters. It’s important to us that everyone who buys a Node does so with all the information they need, so here are the most frequently asked Qs.

Continue reading Node device FAQs

Incognito mode for Ethereum

Incognito is a high-throughput proof-of-stake sidechain, made possible by the implementation of state sharding. Incognito takes a practical approach in designing and implementing its consensus mechanism, based on previous research and existing engineering by OmniLedger, Bitcoin, Ethereum 2.0, and Zilliqa.

The Incognito sidechain can be attached to any blockchain to conduct confidential asset transfer — in this case, Ethereum. The Incognito sidechain runs parallel to main blockchains, allowing for secure two-way transfers of crypto assets whenever privacy is needed.

This post will detail the means by which Incognito enables 100% confidential transfers of ETH and ERC20 tokens.

Continue reading Incognito mode for Ethereum

Development Update (September 2019)

Hello there!

Things have moved so quickly since the testnet launch in July, thanks in large part to our wonderful growing community:

To all our new validators — thanks for hosting nodes! Thanks also for being so patient with us, and for helping us flag and resolve issues. Being the first requires a certain amount of daring, curiosity and conviction, and we really appreciate the vote of confidence.

Here’s an overview of our progress in the past month, and a view into what’s next.

Continue reading Development Update (September 2019)

How to send BNB privately with the Incognito Wallet

Right now, if you send, receive or store BNB, that’s all entirely visible on the Binance Explorer. Anyone can uncover your BNB holdings and activity with a single click. Having the choice of privacy is really important — that’s why we built the Incognito-Binance Chain bridge and a super simple mobile interface.

This article will cover how to activate incognito mode for your BNB.

Continue reading How to send BNB privately with the Incognito Wallet

Introducing Incognito

Every idea starts with a problem. Ours was simple: blockchain data is public.

Duy was running Autonomous where he paid a team of 100+ people in 6 different countries with an ERC20 stablecoin. While he saved processing time and money on international wire fees, employee salaries were exposed publicly on the Ethereum blockchain. It was a mess.

Many of the team had similar experiences, frustrated at how hard it was to send, receive and store crypto privately, even in a rapidly tokenizing world. No one wants to show their bank statements to the entire world.

We started Incognito to create an alternative — the choice of privacy whenever needed, simple for anyone to obtain. Incognito mode for blockchains.

Continue reading Introducing Incognito