1. Stay anonymous on the internet:
Privacy Coins are unique cryptocurrencies which allow a user to gain total anonymity. These coins empower receivers and senders to remain anonymous with different levels of privacy like transaction balances and hidden wallet addresses.
On other platforms such as PayPal, your number, card account, and even address is required. While using Privacy Coins, your transactions will be completely anonymous.
2. Hide your wealth:
Using private coins, it allows you to protect yourself by hiding your wallet information from those who would try to compromise it.
At a minimum, Privacy Coins hide your identity as well. On the other hand, Bitcoin transactions and wallets are visible data among the public so Privacy Coins are anonymous.
Also, in many cases, it is the best way to protect your assets from fraud or theft.
3. Hide what you pay:
In the blockchain transactions, you sign a digital signature to verify that you are the sender. You are the only person who is doing this process, so it is easy for someone to track you back.
While in the Privacy Coins transactions, Ring Signatures combine you with other signers in the same ring that helps to hide you as the sender. The more sender parties in a ring, the tougher it is for someone to track you.
4. Hide what you receive:
Privacy Coins create a new address each time you receive coins so it makes sure that outside party cannot link any future payment to your wallet address. For example, the Monero privacy key implements a dual-key stealth address protocol (DKSAP). This protocol provides all wallet owners a private recipient address, private spend key, and a private view key.
5. Speculation on promising technology:
Speculation is at the heart of the crypto market. The price speculation is present across all assets. In the case of Privacy Coins, however, they are speculative but also promising technological innovations.
6. Most of the public blockchain is very secured (high hash rate):
Privacy Coins especially Zcash (ZEC) and Monero (XMR) have a high hash rate. Its average is 3.99 GHash/s. The highest hash rate was reached on 7th May 2019 with 4.26 Ghash/s. The higher the hash power, the more secure the Privacy Coins are.
7. Ledger is crypted – one of the important features that BTC doesn’t have:
Bitcoin and other cryptocurrencies are a public ledger which is shared between millions of computers and so you can easily consult the ledger anytime online. On the other hand, Privacy Coins are totally concealed and also its ledger is crypted. Also, there is no record of the sender’s or recipient’s addresses, and the transaction amount remains obscured. That is creating a decidedly anonymous payment system.
8. Most of the Privacy Coins are compatible with a physical wallet:
Most of the Privacy Coins are compatible with a physical wallet such as Ledger that ensures unexposed, increases security, immune to computer viruses, and verification on a physical wallet.
9. Most secure way to pay on the Dark web:
After the launch of Privacy Coins, we realize that Bitcoin is not private at all. All Bitcoin transactions data are public and open for analysis. So, now Dark web turned to Privacy Coins in the hope of staying secured and concealed.
10. Easy to buy and sell on most exchanges:
When you need to receive a payment or make a transaction a privacy coin is easily exchangeable on most platforms. These platforms usually have fast transaction times and low transaction fees which makes it an attractive option.