Privacy coin and its benefits

What is privacy coin all about?

12 Likes

@Goldfire what is it about

5 Likes

I don’t understand what you are saying.

4 Likes

What’s private coin or do you mean privacy focused coin?

9 Likes

Privacy coins… that’s what you mean. Privacy coins are cryptocurrencies that specialize in keeping you and your transactions hidden. They hide identities and oftentimes also the amount of cryptocurency traded and held in wallets.

11 Likes

Wow
That’s good.
Thanks for your reply.

There is one coming up

6 Likes

Privacy coins are special cryptocurrencies allowing a consumer to achieve complete anonymity when making transactions with blockchains. User identification and the source of their transactions are covered by different layers and therefore it’s much harder to compile those transactions and trace them. These coins allow senders and receivers to remain anonymous with various privacy levels, such as secret wallet addresses and balance of transactions. No one, even the sender and the receiver won’t be able to track the payments and therefore it’s named as privacy coin. There are over 65 privacy coins available in the market. Amongst them, Monero, Zcash, Dash etc are famous.

13 Likes

Please to be smart right here, i know we all learning in here… But, please make a good question to contribute to this community

3 Likes

I came across zCredit…and they said it will be a privacy coin and I don’t understand. Now I do.

Thanks for your explanations.

6 Likes

I asked because I don’t understand. But now I do.
Read below to see what people that know, says about it.

4 Likes

Welcome @Syno to the community

4 Likes

About privacy, as it states
Most of crypto use public ledger to store tx data. So if i pay you 0.01$ from my btc wallet where i store my millions, you will know that its me and millions. That is a danger situation.
Also, sometimes you may wanna do private payment. Maybe for a dildo or you donate a $ to communist party, while working at US goverment. So again public ledger isn’t a friend in this use case.
Thats where privacy coins come to play.
While they got all ledger handy tools onboard they will fog most of privacy matter data from anyone, while code will review it in order to execute tx.

8 Likes

Xmr and Dash are among the privacy coins

4 Likes

Thanks pal but will bit coin do this.

3 Likes

Thanks a bunch @Dcinti

3 Likes

Bitcoin doesn’t do this as it’s not a privacy coin.

5 Likes

Wonderful thank you I guess I’ll have to make a private wallet as well thank you

2 Likes

Hi where are you I am in the Pacific Coast which is generally the western region

2 Likes

I’m in Africa, Nigeria precisely. Where exactly in the Pacific Coast are you?

California I’m in California but originally from Texas Houston that is