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The 5 most private cryptocurrencies

Published

3 months ago

7 May, 2024

What are cryptocurrencies for privacy?

Privacy-oriented cryptocurrencies are digital currencies with features that enhance privacy and anonymity. Many people are concerned about how governments and businesses use their personal information and data, so they naturally want fewer controls over their private lives.

However, many privacy-oriented tokens have been removed from popular exchanges due to government and law enforcement concerns in many jurisdictions. Decentralized exchanges (DEX) and unregulated and self-hosted wallets are therefore slowly becoming the only means to acquire or use cryptocurrencies for privacy.

Here’s a roundup of the top five most popular privacy-oriented ones cryptocurrencies, which have several built-in privacy features. These projects claim to offer advanced security features or options that help keep users’ identities and activities hidden.

Regulators in many jurisdictions have warned about privacy tokens and privacy-enhancing techniques because they are too often used for illegal activities. In the United States, cryptocurrency mixing service providers have been arrested and their services shut down. The European Parliament finalized a regulation in April 2024, setting the stage for banning privacy-oriented hosted tokens and techniques and tightening regulations for crypto service providers. In most cases, users can still store these assets themselves and use them in peer-to-peer transactions.

Key points

Several projects have emerged that use certain techniques designed to protect user anonymity.
Many use mixing techniques such as CoinJoin, encrypted addresses, random transactions, or others to mask transactions.
Many privacy tokens are designed to address people’s concerns about their private information and data.
Unfortunately, there are always bad actors who ruin something good for everyone else. Most of these tokens have been used in illicit transactions, so law enforcement and regulators are targeting developers and vendors.

1. Monero (XMR)

Monero (XMR) is a cryptocurrency designed primarily for the ability to help anonymize users. Monero transactions are much harder to trace because they use ring signatures and invisible addresses. These methods help hide the identities of the sender and recipient. Additionally, Ring Confidential Transactions, or RingCT, helps hide the transaction amount, providing more privacy.

Trading at $129.23 as of May 5, 2024, Monero was in 48th place by overall market value, standing at approximately $2.4 billion.

2. Zcash (ZEC)

Zcash (ZEC) defines itself as “If Bitcoin is like http for money, Zcash is https”, emphasizing its advanced security and privacy features. Zcash has implemented a cryptographic tool called Proof Zero-Knowledge and offers participants the ability to secure transactions. It allows participants to make transactions without any of them revealing their address to others. Zero-knowledge proofs also hide transaction amounts.

Zcash ranked 171st on the list of cryptocurrencies with a market capitalization of $378 million and traded at $23.19 on May 5, 2024.

3. TREATMENT (DASH)

Created in 2014, HYPHEN is a cryptocurrency that allows users to choose whether their transactions are anonymous and private or not using a protocol known as CoinJoin. The feature works by obscuring the origins of your funds. Choosing to use the feature will increase your transaction fee slightly.

DASH achieves this through a mixing protocol that uses an innovative decentralized network of servers called main nodes. Another feature offered by DASH is instant sending, which can process transactions as fast as a credit card.

On May 5, 2024, Dash ranked 186th by market capitalization with a total value of $347 million. At the time of this writing, it was trading at around $29.47.

Cryptocurrency glasses and mixers are increasingly used for money laundering and other illicit activities. Law enforcement and regulatory authorities in many jurisdictions target these service providers as facilitators, so it is best to use caution and learn your country’s rules when considering a cryptocurrency or service that uses mixing techniques.

4.0×0.ai (0x0)

A controversial cryptocurrency tumbler, 0x0.ai is a cryptocurrency and digital assets platform that allows users to anonymize their transactions and identities by bundling transactions. These transactions are then mixed and the cryptocurrency is distributed to other users.

On May 5, 2024, 0x0 was trading at $0.36 and ranked 231st by market capitalization, with a total value of $313 million.

5. Mimble Wimble (MWC)

MimbleWimble is a privacy-focused token with core features that allow complete control over your privacy. All transaction amounts are encrypted by default and no addresses or other private information is stored on the blockchain. On the MimbleWimble blockchain, transactions appear as random inputs and outputs. Between encryption, lack of addresses, and built-in randomness, there is no way to track users.

On May 5, 2024, MWC was ranked 305th by market capitalization, with $182.5 million, and tokens were trading at $16.66.

What is the best cryptocurrency for privacy?

Monero is the most popular privacy cryptocurrency, followed by ZCash and Dash. Each appeals to different users.

What is a privacy cryptocurrency?

A privacy cryptocurrency uses techniques to provide users with greater anonymity and privacy.

Do privacy coins have a future?

Privacy coins are being targeted in many jurisdictions because they can be used for nefarious purposes. Exchanges that rely on regulatory compliance are starting to remove them, but decentralized exchanges that don’t fall under any jurisdiction still list them. Privacy coins probably won’t go anywhere as people who want them will find ways to use them.

The bottom line

Privacy tokens have a place in the world, as privacy is something that many people desire. These cryptocurrencies promise a life away from the government and corporate espionage that many people desire.

However, privacy for average law-abiding citizens means more privacy for criminals, so it is difficult to say whether privacy cryptocurrencies will be available in the future.

The comments, opinions and analyzes expressed on Investopedia are for informational purposes only. Read ours warranty and exclusion of liability for more information. As of the date this article was written, the author does not own any cryptocurrency for privacy.

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News

Meme Tokens Surpass Bitcoin in Turkish Trading Activity This Year

Published

3 hours ago

27 July, 2024

TokenTalk Staff

Meme Tokens Surpass Bitcoin in Turkish Trading Activity This Year

The Turkish cryptocurrency market has seen significant growth in recent years. Currently, more than half of the population invests in cryptocurrencies, according to surveys and polls.

This is evident from the fact that the Turkish Lira (TRY) is the fourth most used fiat currency in cryptocurrencies. Several macroeconomic factors are fueling this crypto adoption in the country. Therefore, stablecoins and meme coins have emerged as the favorites of Turkish investors, even surpassing Bitcoin.

Stablecoins and meme coins dominate Turkish trade

According to the latest relationship According to Kaiko, Turkey’s inflationary conditions have significantly increased stablecoin usage in recent years. In 2024, the research firm found that USDT-TRY dominates as the largest trading pair by volume on Binance, reaching over $22 billion, more than five times larger than the next largest pair, PEPE-USDT, which has $4 billion.

Notably, meme tokens have surpassed Bitcoin in terms of trading volume this year, indicating that Turkish traders are also turning to more speculative cryptocurrencies to hedge against currency fluctuations and make profits.

The increased usage of stablecoins is further reflected in the main Bitcoin trading pairs on BTCTurk, which are BTC-USDT and BTC-TRY.

One of the main reasons driving the adoption of cryptocurrencies is Turkey’s fight against double-digit inflation and the currency devaluation for years, with an average inflation rate above 40% over the past five years. In response, the central bank adopted an unorthodox monetary policy, cutting rates until June 2023. However, this worsened the devaluation of the Turkish lira, which lost more than 300% of its value from the end of 2020 to the end of 2023.

Turkey’s decision to normalize its monetary policy after the 2023 elections failed to restore confidence in the TRY, whose value continued to decline in 2024, albeit less rapidly.

Binance Sees Strong Expansion in Türkiye

Amid economic challenges, Binance has strengthened its position as one of the two largest trading platforms for Turkish traders, thanks to deep liquidity and low fees. As part of a large-scale zero-fee campaign, it offered zero fees for BTC-TRY trading between July 2022 and March 2023.

Offering a wide range of TRY-denominated trading pairs and aggressively adding new pairs in recent years have helped Binance maintain its leadership in the country despite the 2022 cryptocurrency bear market. Binance introduced 61 new TRY trading pairs in 2024 alone, bringing the total number to over 200.

Other exchanges, such as Gate.io, KuCoin, and OKX, have jumped into the Turkish crypto ecosystem, but their overall market share remains less than 1%.

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News

Top 5 PolitiFi Tokens to Buy Now for MAX Profits

Published

5 hours ago

27 July, 2024

TokenTalk Staff

Coinpedia - Fintech & Cryptocurreny News Media

With the US presidential election fast approaching, the cryptocurrency world is buzzing with new trends. In addition to the well-known cartoon-themed meme coins, a new category is making waves: PolitiFi tokens. Did you see that coming?

These politically themed crypto tokens are gaining attention, especially those centered around former President Donald Trump. Today, we explore the 5 trending Trump-themed PolitiFi tokens.

Stock up to benefit later!

1. Trump (Magazine)

Launched about a year ago, the Trump-themed MAGA token has caused quite a stir in the cryptocurrency ecosystem. Inspired by Donald Trump’s slogan “Make America Great Again,” the MAGA token has produced an astonishing 35 million percent return since its inception. Currently trading at $5.65, it has fallen 8.80 percent in the past 24 hours.

Despite this, the token’s trading volume increased by 23.23%, bringing its market cap to $248 million and securing the 220th spot on CoinMarketCap.

Source: Dexscreener

2. MAGA (MAGA)

Another token with the same ticker, MAGA, is also trending in the PolitiFi category. With 390 billion tokens in circulation, this MAGA token has seen a 11.08% price drop over the past 24 hours, but an 81.39% increase in trading volume. Currently trading at $0.0001337, it is ranked 21st on Dexscreener’s trending list and 522nd on CoinMarketCap. Despite being only two months old, it has provided early adopters with a remarkable profit of 313,373.62% at its all-time high of $0.0007354.

Source: Dexscreener

3. Super Trump Coin (STRUMP)

Super Trump Coin, a meme token depicting Donald Trump as Superman, has a circulating supply of 1.8 billion tokens. Over the past 24 hours, its trading volume has increased by 39.88%. Currently trading at $0.01112, it has dropped by 6.07% over the past 24 hours, but holds a CoinMarketCap rating of 776. From its all-time high of $0.03085, it has dropped by 64.06%. Despite this, its impressive short-term returns have made it a favorite among Trump crypto enthusiasts.

Source: Dexscreener

4. MAGA Vice President (MVP)

Launched just four months ago, MAGA VP has yet to break into the top 1000 cryptocurrencies on CoinMarketCap, currently ranked 1231st. With a value of $0.128, its trading volume has increased by 21.79% over the past 24 hours, with a market cap of $5.3 million. While it is up 110% at its current price, it is down 83.24% from its all-time high of $0.7706.

Source: Dexscreener

5. Little Trump

One of the most unique Trump-themed tokens is Baby Trump, which depicts Donald Trump as a baby president. With a circulating supply of 406 million tokens, it has a market cap of $3.5 million at a trading price of $0.008616. Although its price has dropped 9.45% in the last 24 hours, its trading volume has increased by 4.29%. At its peak, Baby Trump’s market cap was $11 million.

Notably, Baby Trump is the only token among the five analyzed to be based on the BNB Smart Chain, while the others are based on the Ethereum network.

Source: Dexscreener

It’s an exciting time for cryptocurrencies

The current political climate in the United States is spawning a new wave of meme tokens themed around various political figures. Among them, Trump-themed PolitiFi tokens are experiencing the most significant surge in popularity. Support for Donald Trump in the crypto community seems to be a driving force behind the success of these tokens.

Do you think Trump-themed PolitiFi tokens are here to stay or just a passing trend? Share your thoughts.

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News

Brett Token Price Soars 12%; Analyst Expects Further 30% Upside

Published

6 hours ago

27 July, 2024

TokenTalk Staff

Eight altcoins rally 10+% as volatility swings market

Brett, the largest meme coin in Blockchain Base, rose more than 12% on Friday, as sentiment in the cryptocurrency and stock sectors improved.

Brett (BRETT) the token rose to $0.133, up 31% from its low this month. Some traders believe the meme coin has more upside potential in the future.

Analyst is bullish on Brett

In an X-post, Michael van de Poppe, a trader with over 721,000 followers, said he is optimistic that the token will rise to $0.1712, up 30% from Friday’s trading level.

I’ve been a day trader for a long time and memes are a great way to gain that perspective.

Lots of volume.
And there’s a lot of volatility.

When it comes to $BRETTI would look for long positions in this area between $0.125-0.1325 and $0.170 as a clear identification of a potential bull run. photo.twitter.com/hWmSjCZGJa

— Michaël van de Poppe (@CryptoMichNL) July 26, 2024

If he is right, Brett’s market cap will surpass Floki’s (FLOKI), which has a market capitalization of $1.7 billion.

Brett’s bounce came at the start of the Bitcoin 2024 conference today. In a statement at the event, Robert Kennedy, an independent presidential candidate, noted that he is a big supporter of Bitcoin (BTC).

The main protagonist of the event will be Donald Trump, leading in most polls, included in Polymarket. Trump is expected to reiterate his support for cryptocurrencies. Analysts are divided on whether he will announce a Bitcoin reserve at this event.

Blockchain Base is doing well

Brett token also recovered as Base blockchain ecosystems continued to perform well. Launched in 2023 by Coinbase, Base has accumulated over $1.6 billion in DeFi assets, making it the sixth largest chain in the industry. It has surpassed popular networks like Cardano (ADA), Avalanche (AVAILABLE) and Polygon (MATIC).

At the same time, Brett and other altcoins jumped as the U.S. stock market rebounded, signaling that investors have embraced risk-on sentiment. The Dow Jones Industrial Average rose more than 600 points, while the S&P 500 and Nasdaq 100 jumped more than 80 basis points.

Brett Price

Brett Price Chart | Source: Trading View

Technically, Brett formed a morning star pattern, which is a popular reversal sign. In the past, the coin has risen by double digits when it has formed this pattern. For example, it formed on July 12 and then rose by 40%.

On the other hand, this bounce could be a dead cat bounce, where an asset briefly rises and then resumes its downtrend.

Fuente

News

Top 5 PolitiFi Tokens to Buy Now for MAX Profits

Published

7 hours ago

27 July, 2024

TokenTalk Staff

These politically themed crypto tokens are gaining attention, especially those centered around former President Donald Trump. Today, we explore the 5 trending Trump-themed PolitiFi tokens.

Stock up to benefit later!