We all know that Bitcoin offers superior security when compared with conventional currencies. But, this doesn’t mean that it can easily keep your identity anonymous or private. That’s why there are a lot of altcoins like Monero vs Zcash vs Dash that are giving Bitcoin a run for its money. This is when it comes to digital currency anonymity and privacy.
Privacy coins are getting more advanced and offer a wide range of cutting-edge options. Below we’re going to compare what we consider to be the best options; Monero vs Zcash vs Dash. Each option has its own pros and cons. We’ll provide you with all the information you need in order to figure out which is the best option.
You Don’t Have Privacy or Anonymity with Bitcoin
Most operators agree on one thing; Bitcoin isn’t the most private or anonymous digital currency around. That’s because all the details associated with your transactions and wallet address are published on a public ledger. This includes details like the time, date, amount, recipient and sender names.
At best, Bitcoin is pseudonymous but not anonymous. This is because it makes it possible for anyone to trace your wallet address back to you using simple details like your transaction history or IP address. Another reason why you should use a VPN like IPVanish.
Monero vs Zcash vs Dash
If you’re reading this, then you already know what to consider if you want total anonymity online.
Here’s a breakdown between Monero vs Zcash vs Dash and what each has to offer.
• Monero
Monero is as old as Dash and is actually a Bytecoin fork. Bytecoin experienced some negative publicity as critics often called it “dodgy.” That’s because it was built on pre-mined coins that were given to a group of anonymous stakeholders who decided to create Monero.
Monero is based on Bytecoin’s CryptoNote protocol which is one of the most popular of its kind. Last time we checked, it had a market cap of $7 billion and is one of the top performing cryptos of the last few years. But, there have also been rumors that it enables criminal activity.
• Zcash
Zcash has been around for the shortest amount of time when compared to the other options on this article. It was founded in October 2016 by a team of cryptographers and scientists and it soon reached a $2.5 billion market cap a couple of years later.
Zcash isn’t in the mainstream purview yet because most people don’t know that you can actually exchange it for fiat currencies in exchanges such as CEX.io, Bitfinex, and Kraken. You can easily purchase it in the same way that you buy other cryptos.
• Dash
Dash has been around since 2014 and it started out as xCoin and was later named Darkcoin before settling on the name Dash back in 2015. This word is short for “digital cash.” Unlike Bitcoin transactions that usually take 10 minutes to process, this coin only takes 4 seconds.
There are other important features that make Dash a truly unique coin. For instance, Dash uses an innovative voting system to facilitate quick decision making, instead of Bitcoin’s slower unanimous network approval process.
Conclusion
Monero vs Zcash vs Dash; which is the best? As you can see, each has its own benefits so it really depends on your own needs and preferences.
- Monero – This coin has had a really bad rep over the years with a lot of users saying that its transactions are easy to trace. However, it’s still very convenient to use and has been in use for long periods of time.
- Zcash – This particular coin offer superior privacy features including zero traceability. When used properly, this coin doesn’t come with any disadvantages when it comes to anonymity. But, it’s still relatively new so only time will tell how good it is.
- Dash – Dash offers superior anonymity and privacy thanks to having a dedicated PrivateSend feature. This coin is a great option for anyone that appreciates anonymity and ease of use.
Monero vs Zcash vs Dash – which one should you choose? Again, it all depends on your individual needs and the merits of each coin. Consider the fact that each coin has its own unique systems and protocols. Keep in mind that digital coins are constantly improving so each of these coins might look and operate very differently in a few months.
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