Top anonymous cryptocurrencies

Dash

The cryptocurrency got its name by combining the words “digital” and “cash”. The coin is based same as bitcoin off the blockchain but has a quite specific feature in their system. Dash has something called “master nodes”. Master nodes are similar to standard nodes like on the Bitcoin network, sending transaction information across the whole network to users and to miners to transform it into blocks. Master nodes are different in the fact that 1000 Dash is deposited on them, which creates a stake for the master node in the network. In order for the master node to work, the 1000 Dash can’t be revoked, if it is in the case of bad behavior of the node, the node will stop working.

Another feature the Master node carries is the Instant-Send feature. This allows an instant approval of a transaction by the master node on the network which saves you from waiting hours for several approvals.

The feature that makes Dash anonymous is the PrivateSend feature. This allows the sender to maintain the privacy of their transactions. The sender only has an option of specific denominations he can send (1 DASH, 10 DASH,…). The reason for this is that it uses a function called CoinJoin. This feature finds transactions with the same amount of DASH being sent, randomizes the transaction and in a way it shuffles the group of transactions so the origin can’t be traced. This takes some time in the counts of hours or even a day, depending on how secure you want the transaction to be.

Monero

Monero (XMR) stands as the number one choice for those prioritizing privacy and anonymity in the cryptocurrency landscape. Launched in April 2014, Monero has quickly ascended to prominence thanks to its robust privacy features, making it the go-to coin for users who value their financial secrecy.

Unparalleled Privacy Features

Monero distinguishes itself with several key privacy-focused technologies:

• Ring Signatures: Monero employs ring signatures to obfuscate the sender's identity. In a ring signature, a group of potential signers is formed, and it becomes computationally impractical to determine which member of the group actually initiated the transaction. This effectively hides the sender’s address.
• Stealth Addresses: To protect the receiver's privacy, Monero uses stealth addresses. Each transaction generates a unique, one-time address derived from the receiver’s public address, ensuring that only the sender and receiver can discern the actual destination address.
• Confidential Transactions (RingCT): Monero’s Ring Confidential Transactions obscure the transaction amount. By using cryptographic proofs, RingCT ensures that the transaction amount is hidden from external observers while maintaining the integrity and verifiability of the transaction.

Fungibility: A True Digital Cash

Monero’s privacy-centric approach enhances its fungibility. In economics, fungibility refers to the property of a good or a commodity whose individual units are interchangeable and indistinguishable from each other. Bitcoin and other transparent cryptocurrencies can be tainted by their history; coins that were previously used in illegal transactions can be blacklisted by exchanges. Monero, with its robust privacy features, ensures that all units are indistinguishable from one another, making it a true form of digital cash where each coin holds the same value irrespective of its history.

Monero XMR Web Wallets

Using web wallets with Monero (XMR) is designed to be straightforward and user-friendly, making them an ideal choice for both beginners and experienced users. XMRWallet, in particular, exemplifies this ease of use with its robust features and intuitive design. Here’s why:

Quick and Simple Setup

Creating a wallet on XMRWallet is a breeze. Users can quickly sign up, create an account, and receive a secure recovery phrase. This process typically takes only a few minutes and does not require any technical expertise, making it accessible to everyone.

Intuitive Interface

XMRWallet offers an intuitive interface that simplifies the process of managing Monero transactions. Sending and receiving Monero is as easy as filling out a form and clicking a button, ensuring that users of all levels of experience can navigate the platform with ease.

No Software Installation Required

Unlike traditional desktop wallets, XMRWallet operates entirely within a web browser. This eliminates the need for downloading and maintaining software, reducing the hassle for users and ensuring they always have access to the latest features and security updates.

Accessibility from Any Device

XMRWallet offers the convenience of accessing your Monero funds from any device with an internet connection. Whether you're using a desktop computer, laptop, tablet, or smartphone, you can manage your Monero transactions on the go, providing unparalleled flexibility and ease of use.

Security Features

XMRWallet incorporates advanced security measures, such as encryption and two-factor authentication (2FA), to safeguard user accounts. Additionally, Monero’s inherent privacy features enhance the security of transactions, ensuring that users can confidently manage their funds.

In summary, XMR Wallet provides a seamless, secure, and accessible way to manage XMR transactions, making it a popular choice for anyone looking to engage with this privacy-focused cryptocurrency. With its user-friendly design and robust security features, XMRWallet stands out as an excellent option for managing Monero easily and efficiently.

Verge

Verge was first when created called Doge Coin Dark and its primary use was on the Darknet. The problem with Verge was that the coin claimed it was secure like Monero and others, but in reality, it was only a fork of bitcoin so the blockchain was public just like bitcoins. The NSA and FBI used blockchain analysis for searching senders of contraband using Darknet, and essentially the goal of Verge to be private was abolished.

The Wraith Protocol is promised to be a new step in privacy protocol but this mechanism can be already found in Monero and it doesn’t make the coin anymore private.

ZCash

The cryptocurrency is a lot like bitcoin, the code itself is in some parts equal. ZCash uses encryption for privacy of each transaction. The information about the recipient or the sender of the cryptocurrency is hidden.

ZCash uses what is called Zero Knowledge Proofs. This allows for proving legitimate money can be moved without revealing what is under the encryption.

In reality this can be utilized in a scenario where I want to send money to a certain treatment of my illness but I don’t want to reveal this information to anyone but the hospital. Nor the bank or anyone involved in nowadays internet payments and bank transfers.