Bitcoin Forum

Cryptocurrencies are definitely not so anonymous as we thought in the past, transactions could be traced and our identity could still be exposed (hope I haven't been too dramatic lol).


I know there are cryptos that focus specifically on privacy like Monero, Zcash and others, so, when it comes to transactions anonymity and wallet exposure, what do you believe to be the best cryptocurrency in this field?


P.S: I'm not looking for financial advice

[Guide] Decent mixing methods (https://bitcointalk.org/index.php?topic=5146241.0) is written by theymos. He recommended Bitcoin with Wasabi wallet and Monero.

Points are no mixing method is perfect and can 100% protect your anonymity. I read some posts by forum members and they discussed about a method by mixing between Bitcoin and privacy coins in and out exchanges or tumblers. I think the idea is good.

Assume you have Bitcoin, you can use Wasabi wallet and Tor, Coin Join transaction or tumblers, then you will use output after mixing as deposit to exchange and buy privacy coin. Then move a first privacy coin to another exchange and convert it to another privacy coin. Repeat it a few rounds.

It's most probably still Monero. For the most part, it's still important to note that with Bitcoin, everything can be tracked and be seen in the blockchain. So if you are concerned with privacy, then Monero could be that. It's like cash where you couldn't trace where it came from 

If it's not so dramatic why do you want to tell this to everyone here?
Do you just want to tell those who may not know it or just to reveal the truth about cryptocurrencies?

The thread by Theymos is a good one to look at.
If you don't want to use mixers, monero is a very good candidate alt to use as already pointed out by other users.
And XMR is available in most trading platforms and you can also use their wallets (hardware or the lighter versions)
Just head to their site - https://www.getmonero.org/downloads/, and check which one suits your needs.

Mandatory KYC on exchanges linked our wallets with them which is the reason why it is possible to trace the most of the cryptos if it has the traces from any exchanges but still there are completely anonymous cryptos which are actually mentioned by you and you can add Grin as well into the list.

Monero will always lead the privacy coin in the market. Monero has proven its tech to be the most anonymous in the field and that's why so many times people were unable to breaking the tech that used by monero. We can't deny the fact that hype for anon coin is not stay again with us. You need to read some articles about how hard some parties were trying to breach out the anonymous tech of monero. Monero will always become the best coin in the anon field. It has proven so many time sthat i's not easy to trace it.

As far as I know the greatest privacy is given by Monero, but it is not essential to use private coins so as to be anonymous. You can make even your bitcoin and other currencies private because privacy is a feature that can be added to any blockchain. Just use mixers that makes it unclear then who is the owner of those coins (Tornado.Cash, Coinjoin).

When are talking of privacy, i think we are looking to those coins that have no value but about come to the market but we really have them besides our backs, it upbringing coin that do not have base for now  but it is a coin like other cryptocurrencies but it still in probation.i want to know from you if we use mixer can it work?

I'll go with Monero since it's the most secured and private cryptocurrency but if you have Bitcoin you can still use Wasabi, Sparrow or Samourai wallet for coin mixing or coinjoin feature to avoid being tracked or traced in the blockchain, if you don't want to leave any trace then try to exchange your coins to a p2p exchange site to different cryptocurrency.

Grin, monero.

Bitcoin is also annonymous, just use a thor network use any random address, there are more addresses combinations than grains in the entire world, so small chance to have same address generated. Bitcoin does not store your balance it just stores inputs on the ledger so if you are smart you can use that with any cryptocurrency forked after btc.

@dataispower

The problem with 100% annonymous is the ledger. We need a ledger to contain the information of what comes out or in. Most cryptocurrencies as those forked after btc or which follows the blockchain system, combine those digital signatures to put a timeframe in them in order to be sure that the input was not spent yet. Monero keeps less parts of the ledger as the information is already confirmed and it is known so no need for the entire dimension of the blockchain to be able to verify a signature.

Monero is my best choice, an old coin and yet still very useful although does not pump last year as other coins had. In terms of privacy, it can give you that, however, if we are talking of transactions like having to convert it to fiat, I'm afraid you'll not be fully anonymous as most exchanges now already demand a KYC before you can use their platform.

I think cryptocurrencies have a lot of variety. Not only in one form, there are those specialized in the field of security, finance, AR / VR technology, even privacy, there are also transparent. I once worked on epic privacy coin project, they emphasize transaction security by transacting via IP or sending files. I think it's like an offline transaction or it could be an old-fashioned way of transacting bitcoin but it emphasizes the privacy of its users.

If I'm not mistaken, exchanges in Korea were pressured to delist privacy coins but only Monero didn't bother to defend themselves unlike Zcash and Dash developers. Those two were later added IIRC but I don't know about Monero.

It seems all the big Exchanges are still listing XMR. So it seems it's the best coin for this task.

Does anybody know if decentralized exchanges exist for XMR ?

Maybe this is what you are looking for https://cointelegraph.com/news/siennaswap-adds-bitcoin-monero-trading-pairs-in-push-for-privacy-focused-defi

that's sienna swap. that's a dex for the native coins and some native coins being added to the sienna swap. You can take a look at this dex and i thought that this is the best answer for your question. Bitcoin was also available there.

Monero is an open-source cryptocurrency based on RandomX formerly CryptoNote and was created in April 2014. It focuses on privacy, decentralization, and scalability.

Right, privacy coins are delisted and regulated. But do you really think it's the end for them? Look, Monero was listed on no KYC decentralized exchange from Utopia p2p https://crp.is/exchange/xmr_usdt and can be still accessed and traded. But now fully anonymous. So other coins will also find a way out. Maybe Crypton exchange will collect and list best of them and the question will be fully solved.

we can divided private cryptocurrency:

• Coins like Zcash claim to be privacy-focused currencies, but when you search for them in depth, you will find that, like all alternative currencies, they aim to increase developers’ money and do not care about privacy. your data will be sold at any time.
• Dash also claims to be privacy-focused coins, but it markets itself due to the speed of payments like other altcoins.
• Monero is the number one privacy coin and is a good long-term investment when anonymity becomes valuable.
• Grin is stablcoin privacy focus project

other altcoins are blokchain based coins that mean they are not privacy-focused currencies.

Also check out ARRR (Pirate Chain). It is another established private crypto currency and came back in price since it's hype a bit over half a year ago. ARRR might be included into Komodo's AtomicDex soon which will allow swaps with other coins.
I haven't used Monero in a few years but remember that it never had a nice easy to use user-friendly wallet. Hast this changed now?

It's not the end of privacy-centric and anonymous coins. There is always a market for them even if some regulated exchanges will delist them. Even with the absence of P2P, they are still actively traded on popular exchanges. Somehow, they found a workaround to the policies against these types of coins and that's asking KY from the users and also adhering to the FATF Travel Rule

Thanks!