Looking for the best privacy coins in 2018?
When it comes to our online spending, anonymity is a big thing – and that means privacy altcoins have huge investment potential…
Now if you’re investing in cryptocurrency, then you already know that privacy coins are tipped for big things in 2018.
I’ve covered my best cryptocurrencies for 2018 before – but in this guide I’m going to specifically analyse my picks for the top 7 best privacy coins in 2018.
1. What Are Privacy Coins?
Privacy coins are an anonymous form of cryptocurrency that protect the user’s identity.
You see, a lot of cryptocurrencies – like Ethereum and Bitcoin – just leave your transaction details flapping in the breeze…
That means anyone can look up your wallet address and see all of your payment details. Just imagine if someone could just look into your bank account and see what you’ve bought, when and how much money you have – not very nice right?
Most people hate the thought of someone seeing their email address online…let anyone their financial details!
And that’s how privacy coins help you:
They’re a great way to protect your identity online and keep your anonymity.
2. How To Buy Privacy Coins In 2018.
You can buy most privacy coins via the cryptocurrency exchange Binance. If you haven’t already, I’d recommend signing up to Binance now before they close new registrations (again!).
If you need any help getting started on Binance, check out my guide on how to trade altcoins on Binance here.
Now here’s why privacy coins are a smart investment opportunity…
3. Why You Privacy Coins Are A Big Deal In 2018.
- Demand: People want to protect their privacy online, especially when it comes down to money. There will be a huge demand for privacy coins in 2018 – which means prices are going to spike.
- Anonymity: With cryptocurrencies like Bitcoin, Ethereum etc. people can easily track your transactions and payment history. Privacy coins fix that – they’re completely anonymous.
- The Darknet: With the meteoric rise of the darknet, people want to protect their identity if they’re buying drugs, pirated materials and other nefarious things.
- Tax Avoidance: It’s a little taboo – but privacy coins are going to be the coins of choice for tax avoidance – mainly because authorities can’t see how much money you’re storing or where you’re storing it.
- The Technology: As you’ll discover, this technology goes way beyond Bitcoin – the best privacy coins (which I’ve covered below) are far cheaper, faster and more innovative than outdated cryptos like Bitcoin.
- They Work: This isn’t just a ‘nice idea’ – privacy coins like Monero are already transacting millions of dollars online! (I’ll cover more about this below).
- People Are Already Choosing Privacy Coins Over Bitcoin: Monero is already becoming a favourite over Bitcoin – and that trend is expected to continue.
- Cryptocurrency Leaders: Whilst John McAfee (creator of the McAfee anti-virus) doesn’t have the greatest rep, he’s still one of the leading voices on cryptocurrency. And as you’ll see below, privacy coins are at the top of his recommendations list.
By the way, if you haven’t seen it already then check out McAfee’s Netflix documentary here – it’s definitely worth a watch.
4. The Top 7 Best Privacy Coins Of 2018.
1. Monero (XMR)
What Is Monero?
Monero is the most popular privacy coins right now…
It’s completely untraceable and gives owners the power to have complete control over their data and their anonymity.
Why Is Monero One Of The Best Privacy Coins To Invest In For 2018?
- Out of all the privacy coins, Monero is the most popular – and there’s a few reasons why…
- Monero has a really strong brand and a better marketing team compared to other privacy coins.
- It’s got some really unique technology – like the ability to optionally make it transparent if you want.
- It’s relatively stable – even when the crypto market occasionally takes a hit, Monero tends to stay pretty strong.
- It’s technology is dynamically scalable – meaning Monero can have a bigger reach for day to day transactions.
Reasons Why You Shouldn’t Invest In Monero.
- If you’re worried about the ethical use of Monero, this may not be for you because of the ‘dark side’ of XMR and it’s potential. However, this also goes for most privacy coins.
2. Navcoin (NAV)
What Is Nav?
Built on Bitcoin Core, it’s a low fee cryptocurrency with added features and upgrades. Many investors have Navcoin on their list of the best privacy coins of 2018…
Navcoin is available to buy on Binance.
Why Is Nav One Of The Best Privacy Coins To Invest In For 2018?
- It’s pretty fast – transactions take about 30 seconds!
- They have a strong marketing team to promote their brand.
- The Navcoin development team have loads of updates and developments planned for the next couple of years – keeping it relevant and useful.
- If you’re running a business, it’s easy to setup online payments with Navoin using their merchant system via Coinpayments.
- It’s completely decentralised and anonymous.
Reasons Why You Shouldn’t Invest In Navcoin.
- NavCoin uses RSA technology – and there’s a few disadvantages to that…
- Whilst RSA is really powerful technology, it’s not bulletproof and critics have complained that RSA is more of a way to market their technology, rather than added value to their security.
- Some investors have complained that their transactions aren’t completely private – as you’ll discover here.
3. ZCash (ZEC)
What Is ZCash?
Although slightly lesser known, ZCash is still a strong contender for one of the best privacy coins to invest in 2018. It uses a unique system called zk-snark.
You can trade ZCash via Binance here.
Why Is ZCash Is One Of The Best Privacy Coins To Invest In For 2018?
- ZCash isn’t that popular yet in comparison to other privacy coins like Monero or Navcoin – that means there’s more growth opportunities for investors.
- If you’re worried about ethics and the murky reputation of privacy coins, Zcash is a good option – they have a more ‘corporate feel’ to their brand.
- ZCash has even started working with companies JPMorgan Chase – one of the biggest banks in the world.
- It’s fungible – i.e. difficult to trace and strong in terms of privacy cryptography.
- They donate 1% of their ‘Founder’s Reward Tax’ to non-profit charities.
Reasons Why You Shouldn’t Invest In Zcash.
- Zcash’s cryptography is relatively untested and new to the industry. No one’s really tested Zcash on a practical, mass scale – and therefore no one knows if it works or not.
- The actual creation of Zcash has a lot of controversy behind it, as you’ll find here.
- It’s a little slow on transaction speeds – payment confirmations can take up 2.5 minutes which isn’t ideal for day to day transactions.
4. Verge (XVG)
What Is Verge?
Since being backed by John Mcaffee, Verge has skyrocketed! It’s a highly untraceable and anonymous cryptocurrency tipped for big things in 2018. It also has extremely fast transaction times.
Buy Verge on Binance here.
Why Is Verge One Of The Best Privacy Coins To Invest In For 2018?
- It’s rise has been meteroic – Verge has receive a lot of attention in 2017/2018.
- Big influencers in cryptocurrency – like Mcafee – have promoted Verge as a good privacy coin to invest in.
- A lot of people already know the Verge brand – it’s pretty well recognised in the cryptocurrency market.
- Verge has open-source software – so followers of Verge can input into future decisions and developments of the technology.
- It’s innovative Wraith Protocol technology – which allows users to switch between private and public transactions – is quite unique for cryptocurrency.
Reasons Why You Shouldn’t Invest In Verge.
- Since John Mcaffee’s promotion of Verge, it’s dumped pretty hard. Check out the graph below.
- However, this may also mean that Verge is now undervalued and at a good buying point for cryptocurrency investors now that it’s dropped a little.
5. PIVX (PIVX)
What Is PIVX?
Abbreviated for Private Instant Verified Transaction, Pivx is another open source privacy coin. You can buy Pivx via a few different exchanges online – here’s a list of the top ones.
Why Is PIVX One Of The Best Privacy Coins To Invest In For 2018?
- It’s already grown like crazy – a lot of investors in cryptocurrency favour Pivx.
- But Pivx still has a lot of growth potential – it’s not even hit the top 50 most traded cryptocurrencies (yet).
- Pivx is a hardfork of Dash – with the aim of improving and developing some better features.
- It has a strong following and community – with fans even creating art and advertising around the Pivx brand.
Reasons Why You Shouldn’t Invest In Pivx.
- Pivx doesn’t have the strongest marketing team – some worry that this may hinder Pivx’s adoption and growth.
- Others worry about it’s lack of ambition as a business – because their mission as a company isn’t goal focused the same way companies like Verge or Monero are.
6. Spectrecoin (XSPEC)
What Is Spectrecoin?
Spectrecoin is pretty unique because of it’s energy efficient algorithm – which is also designed to rapid transactions too. You can buy Spectrecoin on the exchanges listed here.
Why Is Spectrecoin One Of The Best Privacy Coins To Invest In For 2018?
- They have an impressive community
- Stealth addresses – for completely anonymity.
- Only 30 seconds to transaction time.
- Spectrecoin has no known transaction fees.
- Most privacy coins already have a huge market – but Spectrecoin aren’t in the same league – meaning huge potential for cryptocurrency investors.
- Strong development team working hard to improve it’s technology.
Reasons Why You Shouldn’t Invest In Spectrecoin.
- They don’t have anywhere near the same brand recognition or marketing efforts of big players like Monero.
- However, that means there’s more potential for the coin to grow if they fix this.
7. Sumokoin (SUMO)
What Is Sumokoin?
Sumokoin is untraceable, using Ring Confidential Transactions (RingCT) technology. It uses highly encrypted technology, so that the user’s identity remains anonymous.
You can buy Sumokoin from Cryptopia.
Why Is Sumokoin One Of The Best Privacy Coins To Invest In For 2018?
- Still relatively young to the crypto market, Sumokoin has a lot of growth potential for 2018.
- Sumokoin uses Ring Confidential Transactions (RingCT) – which hides your transactions and adds an extra layer of security to your wallet.
- It’s a hard fork from Monero – one of the most popular privacy coins on the crypto market right now.
- This also means that Sumokoin has all the advantages of Monero’s technology.
- It has a limited supply of 88,888,888 coins for the first 20 years – it’s scarcity factor adds more value to the coin.
Reasons Why You Shouldn’t Invest In Sumokoin.
- Some critics of Sumokoin have doubted the credibility of their development team and their cryptography techniques.
- You can find out more about that here.
5. Read This Before You Invest In ANY Privacy Coins.
If you’re considering investing in any of my picks for the best privacy coins in 2018, please do your own research first and only ever invest in cryptocurrencies you believe in.
Cryptocurrencies are pretty volatile investments:
And if things get a little ugly, you need to be able to weather the storm without worrying if your investment will be around for much longer!
Also, when you’re investing long term in privacy coins in 2018 and beyond, don’t leave your money in an exchange. They’re great short term, not so great long term.
Check out my guide to the best cryptocurrency hardware wallets if you want some advice.