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.

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. 

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.

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.

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 coins: An easy way to keep your crypto transactions private

Since Bitcoin doesn’t guarantee anonymity or privacy, users started seeking ways to keep transactions anonymous. In response, privacy coins, a different class of cryptocurrency, were introduced. 

Privacy coins attempt to solve the pseudo-anonymity problem of Bitcoin and other cryptocurrencies

What are privacy coins?

By design, the best privacy coins operate on the same blockchain technology as other cryptocurrencies like Bitcoin. However, they also provide users with anonymity by obscuring some information about the transactions. This privacy-focused function was created by utilizing high-encryption techniques and mixing technology. 

So is Bitcoin safe? How is privacy coin more private than Bitcoin?  

Bitcoin transactions are recorded on an open public ledger, allowing anyone to see the addresses of the senders and receivers. Even though the transaction details don’t contain anyone’s identity directly, it’s possible to link addresses with people, especially when it comes to liquidating funds with a licensed exchange. Privacy coins, on the other hand, hide information about the senders, receivers and wallet activity through various methods – this obviously makes it a safer option. 

Why should you use privacy coins? 

Untraceable crypto transactions are often stereotyped as being linked with criminal activity, but there are many legitimate reasons to protect your privacy. 

First of all, payment using privacy coins prevent your identity from being tracked or revealed by hackers, since there is nothing to link any transaction to you. Secondly, if you’re an investor and don’t want your personal interests or financial status to be revealed through investment details, privacy cryptocurrency is what you should try out.                                                                                                                                                                                                                        Last but absolutely not least, privacy cryptocurrency brings you peace of mind when transacting, making a payment or purchasing goods. Once your wallet activity is obscured and your identity is masked, you no longer need to worry about any security threats that may have occurred otherwise. 

Top 3 best privacy coins

Market demand has encouraged many teams to step up and create anonymity-oriented tokens that follow different protocols. Here, our top privacy coins list consists of 3 of the most reputable names: Monero, ZCash and Dash. 

Which do you think is the best privacy coin?

1. Monero (XMR)

As the most well-known privacy coin on the market, Monero’s transaction sources and destinations are untraceable. It protects user privacy by using the CryptoNight Proof-of-Work protocol, which utilizes stealth addresses, ring signatures and Ring Confidential Transactions to obfuscate the ledger of transactions.  

For additional privacy, Monero also employs a splitting mechanism, which divides each full transaction into smaller amounts and sends them as a subset of separate transactions adding up to the initial one. 

However, Monero was the most popular cryptocurrency used on the dark market, among web drug dealers and hackers. As a result, its reputation has been somewhat tainted by its association with illegal acts and garners a lot of scrutiny from the authorities. 

2. ZCash (ZEC)  

ZCash was created as an alternative to Bitcoin and claims to enhance privacy without giving up compliance with the law. Unlike Monero, private transactions are not compulsory when using ZCash. Instead, there are two types of transactions: one that happens on the public ledger with a transparent wallet address, and another one that obscures transaction details with a “shielded” address. The technology behind this mechanism is Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (or zk-SNARK) and a Zero-Knowledge Security Layer (ZSL). 

ZCash’s semi-transparency allows users to display a small division of data belonging to any transaction so as to verify payments while masking critical information such as personal identities of the sender and receiver. This feature, however, exposes users to privacy issues when trading between fiat and ZEC on cryptocurrency exchanges, where KYC controls are still applied. 

3. Dash (DASH)

Dash isn’t solely a privacy-focused cryptocurrency, instead, it offers privacy protection for transactions as an option for users. This means addresses and transactions are all viewable on the public Dash blockchain. To preserve anonymity, users can choose the PrivateSend feature to obfuscate transaction details. 

Its mixing mechanism is the underlying technology of this network. Dash Masternodes take the coins from your transaction and mix them with multiple coins being sent on the network. As a result, a series of grouped payments is made at the same time, making it impossible to trace the input and output of each transaction. 

The top privacy coins list continues with many names to choose from such as Verge (VGX), ZCoin (XZC) TeleCoin (TELE). 

Turn any cryptocurrency into privacy coins

Although the aforementioned privacy coins offer a relatively high level of anonymity, mainstream users may not be able to access them or understand exactly how to use them. That’s when Incognito, a different sort of privacy project, comes into the picture. 

Incognito offers not only a privacy coin, but also a decentralized platform for any cryptocurrency to become its own privacy coin. If you’re looking for a way to send and buy crypto anonymously, this is the app you need. 

Incognito turns any cryptocurrency of your choice into its privacy version

Incognito is designed as a sidechain for privacy coins, which connects to other blockchains like Bitcoin, Ethereum and Binance via a trustless portal. With the utilization of smart contracts and trustless custodians, the platform facilitates two-way transfers of crypto assets and issues privacy coins at a rate of 1:1. All transaction details stored on the Incognito blockchain are confidential and do not appear on the public ledger unless they are transferred back to their original blockchain. Therefore, users have full control of their personal data and assets, allowing them to send, receive and store any cryptocurrency in complete anonymity. 

You can download, install and start using Incognito on iOS and Android right away. 

The future trend of privacy coins 

Even though privacy coins are a controversial topic around the world, there is an increasing demand for this class of cryptocurrency. While some people may see them as a tool for criminal activity, their benefits in legitimate situations are undeniable. In years to come, current privacy crypto projects will need to achieve further advancements to live up to investors’ expectations.  

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:

Contact the team:

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

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

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

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

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

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 Smart Economy 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