What are the Advantages of Privacy Coins?

[Suba]

Crypto transactions are generally not completely anonymous, as they can be viewed on the blockchain, including the amount, sender address, transaction fee, and recipient. However, privacy coins can protect transactions, including the amount, sender, and recipient address.

Although there are not many privacy coins in circulation, examples include: Dash, Hush, Monero, PIVX, Verge, and ZCash.

 

[gwolf666]

Thank you for the explanation. It's important to understand that while traditional cryptocurrency transactions are usually traceable, there are options like privacy coins that offer a much higher level of confidentiality. Monero, Zcash, and the others you mentioned are truly game-changers, allowing both the amounts and the sending and receiving addresses to remain hidden. This can be very useful for those who value privacy and want to keep their transactions away from prying eyes. However, I also understand that these coins can generate debate about their use in illicit activities, so their regulation and acceptance are still evolving. It's important for users to be aware of these differences and choose the option that best suits their needs, always prioritizing security and transparency to the extent that the law and ethics allow.

 

[Augusta]

Privacy coins provide built-in protection. They use techniques like ring signatures to obscure transaction details. This shields the sender, receiver, or amount

 

[wisdom01]

Privacy coins provide built-in protection. They use techniques like ring signatures to obscure transaction details. This shields the sender, receiver, or amount

Privacy coins are top-notch! Ring signatures and stealth addresses keep transactions totally anonymous.