Here you will learn about the best privacy wallets to secure your crypto assets and personal data. A privacy-preserving wallet is key to crypto protection.
Why do you need a privacy wallet?
These days, outsiders and mainstream media still believe that Bitcoin is the currency for illegal activities such as trading prohibited goods or money laundering. However, it’s far from the truth.
Bitcoin, by design, is totally publicized, meaning that all the transactions are recorded on a public ledger. Everyone can access the Bitcoin blockchain, check a single address and acknowledge the details involved such as how much Bitcoin is holding, or its related addresses.
In fact, Bitcoin transparency isn’t so bad at all. However, due to this nature, there is no surefire way to remain 100% privacy for your crypto assets.
Meanwhile, privacy is the most worth-concerned issue in crypto-verse. We shouldn’t risk our information on the chaotic Internet, whereas hackers and the bad guys are too rife. That’s the reason why you need to optimize privacy protection for your Bitcoin and other crypto-assets.
A good approach is by picking a good and suitable privacy wallet to store your digital coins.
So let’s start the list of 5 best privacy wallets on the market recently.
Best privacy wallets to protect your crypto-assets
1. Incognito Wallet – The optimal privacy wallet app to send and receive Bitcoin confidentially
The Incognito Wallet is based exactly on the idea of a privacy-oriented crypto wallet. This wallet provides you the simplest way to send and buy crypto anonymously.
All you need to do is a tab to switch your coins into their privacy version with the conversion rate exactly at 1:1. After that, you can freely send it to other addresses without anyone knowing. And finally, just another tab to turn it back to the original one.
In short, when you turn on “Incognito mode” for your digital assets, no one can figure out your balance or the details involved in your transactions. It marks Incognito Wallet the best privacy wallet existing on the market.
Besides, this wallet has all the favorite functions of a common cryptocurrency wallet. You can stake your coins, trade on a totally decentralized exchange and explore interesting privacy-oriented DApps (decentralized applications).
2. Samourai Wallet – A good privacy wallet for Android users
The Samourai Wallet aims to offer better privacy and anonymity for Bitcoin transactions. This wallet helps you to protect crypto funds via an application installed in Android mobile phones.
Started the project from 2015, The Samourai Wallet team introduces itself as:
“We are privacy activists who have dedicated our lives to creating the software that Silicon Valley will never build, the regulators will never allow, and the VC’s will never invest in. We build the software that Bitcoin deserves.”
This wallet has some surprising features, including:
- New addresses whenever you make a Bitcoin transaction
- Run your own full-node Bitcoin wallet
- High-security methods to protect your funds such as cold storage
However, one of its cons is that Samourai Wallet is just available for Android users. There’s no version for iOS or other Internet-connection devices.
3. Electrum Wallet – A desktop privacy wallet to protect crypto funds
Although there are mobile versions, Electrum Wallet is the most popular for its desktop software. It’s one of the oldest Bitcoin wallets on the market and has soon become a privacy-oriented crypto wallet.
To enable “privacy mode”, you must use the Electrum Wallet on the Tails Operating System (OS). What is Tails? Let’s figure out through their own words:
“Tails is a live system that aims to preserve your privacy and anonymity. It helps you to use the Internet anonymously and circumvent censorship almost anywhere you go and on any computer but leaving no trace unless you ask it to explicitly.”
With all of this in mind, Electrum Wallet is worth trying if you want a privacy wallet for your laptop or PC. However, it’s more suitable for tech-savvy rather than beginners.
4. Rahakott Wallet – A must-try privacy wallet for web and online users
Rahakott Wallet is a web-based multi-currency wallet that helps you to remain private while transacting your coins.
The wallet makes it almost impossible to track your transactions thanks to a built-in mixer tool. In addition, Rahakott Wallet generates a new address for each transaction, which significantly increases the privacy and anonymity of users.
Besides, you don’t need an email, password and phone number to sign up. Only a mnemonic phrase and 2FA are used, meaning it pointless for hackers to steal users’ info.
Currently, the wallet supports BTC, BCH, LTC, XMR, ZEC, DASH, and other popular cryptocurrencies. You can find more functions by creating your own wallet, which takes just 20 seconds.
5. Bitcoinpaperwallet.com – Paper wallet to keep privacy for your Bitcoin
“Your key, your Bitcoin” is never an old-time statement. Instead of using a third-party provider to store Bitcoin, you can keep it for yourself with a paper wallet.
Bitcoinpaperwallet.com helps you to generate key and print paper wallets. You have some options to use hologram stickers or techniques that prevent fading or replaced. You need to pay for these advances, but it’s worth considering, isn’t it?
After having a paper wallet, all you need to do is keep it in a safe place that no one can access. As a result, your Bitcoin assets are totally privacy-protected and you never mind forgetting your private key.
Although Bitcoinpaperwallet.com is popular, there are other paper wallet generators that you should take a look at, including Paperwallet.com and Walletgenerator.net.
6. Other top-pick privacy wallets to secure your finance
To meet the need of privacy-preserving of the crypto community, many projects have surfaced over the years. Thus, clearly that the market has not only 5 best privacy crypto wallets. In fact, there’re many options to choose from, depending on your criteria.
Ledger Nano S is the best cryptocurrency wallet in the form of a hardware device. This wallet keeps digital assets far away from the Internet, enabling total privacy for your crypto funds.
Guarda Wallet is a cross-platform crypto wallet that supports over 45 cryptocurrencies and thousands of tokens. It’s a non-custodial wallet known for a user-friendly and clean interface. In short, Guarda is suitable for beginners who are looking for ways to increase privacy for crypto transactions.
After choosing your own privacy wallet, you should take a look at some privacy precautions.
Privacy precautions to better protect your crypto funds
- Do not store your coins on exchanges. Because you can’t own your private key along with the exchange-based wallets.
- Do not publicize your wallet addresses on social media without a very good reason.
- Always use a new address when making a transaction. For this reason, many wallets listed above provide this function.
- Understanding why you need a privacy wallet and always use it to store your coins.
- Use a privacy web browser such as Tor, DuckDuckGo or Brave Blockchain to hide your browsing history. It’s also a good way to obscure all your sensitive information like passwords, private keys, credit card details.
- You should always buy and sell cryptocurrencies with cash payments. Cash is one of the most hard-tracking assets in the world, meaning that it will help to protect your transaction details.
Closing thoughts on “Privacy wallet”
Privacy is never an outdated issue. Whoever you are, a beginner has just entered the crypto-sphere or an experienced user, you should learn about privacy wallets and ways to provide anonymity for your assets.
Finally, choosing the best privacy wallet is the fastest way that brings you to the crypto-verse with high-level privacy.