Monero XMR Ranked "The Best Coin For Anonymous Payments". BTC got 2nd place - Monero News. Wednesday, October 10th
Monero is ranked the best privacy coin for anonymous payments
Bitcoin got the second place
Website for reviewing cryptocurrencies Keysheet.io has determined that privacy-focused blockchain Monero (XMR) is the best cryptocurrency to make payments in an anonymous way. The conclusion was based on the curated review of this, and four more digital assets, by several experts in the crypto ecosystem.
“Monero is our top pick for best privacy coin because it has the best mix of cryptographic guarantees and ease of use as well as widespread adoption on the darknet,” says the post in Keysheet’s website.
According to the review, Monero differentiates from other popular crypto assets in the darknet such as Bitcoin in terms of privacy due to its stealth addresses and ring signatures. Stealth addresses are created each time a transaction is taking place, and can only be accessed by the one receiving the funds; while ring signatures ensure that transactions are mixed together so when, for example, a sender wants to check when the recipient retrieved their XMR, he/she wouldn’t be able to confirm this.
Other reasons taken into account to crown Monero as the best cryptocurrency for private payments, are its ability to make it simple for the end-user. As a privacy-focused coin, it is only natural that this feature is by default, whereas other cryptocurrencies requires the user to set it up via methods specific to each coin.
“It also has a lively ecosystem, with a lot of different wallets and tools to make it easy to send, receive, and exchange Monero,” counts the report as another reason.
Notably, the report speaks of the support this digital asset has from exchanges, citing XMR.to and ShapeShift as tools that facilitate the exchange of Monero for other cryptocurrencies without having to submit your personal data. However, with the advent of the Know-Your-Customer policy to ShapeShift, it is yet to be seen how this support will keep as such.
Bitcoin in second place
Bitcoin (BTC) – world’s largest cryptocurrency by market cap – has a certain degree of privacy by itself. However, it requires a bit of extra work from the user to achieve a similar level to that of Monero. This is because all transactions, while not linked to a real identity, can be consulted by anyone, so with a good research, a user’s addresses could be identified.
So, despite being the most accepted cryptocurrency in dark markets, because of its pseudo-anonymity, it was ranked second.
Follow TokenTops on Twitter to stay notified about new articles, cryptocurrency news, ICO announcements and price predictions and analysis.
Legal Disclaimer: Please remember that trading, buying or any other type of investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops. We do not encourage our readers to any kind of financial decisions. Neither tokentops.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from tokentops.com. We believe that everyone should make their own and in depth research on the particular topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, analytical skills, experts and community discussions and is intended to convey general information only.
You may also like
Monero (XMR) Price Forecast: "Trading Sideways" - TokenTops Analysis
Monero Latest Update Drastically Reduces Fees, According To Users - Monero (XMR) News
What Is Monero's "Bulletproof" Technology That Just Went Live? - Monero (XMR) News
IOTA’s Tangle could help fighting global warming - IOTA News
Bitcoin Price Analysis: What To Expect In The Next Couple Of Weeks - TokenTops
Roger Ver, Bitcoin Cash advocate, is planning to launch his own crypto exchange - Bitcoin Cash News
You need to login to create comments.