The benefits of using confidential cryptocurrency


The benefits of using confidential cryptocurrency

Virtual currency with a high level of confidentiality, will be subject to more scrutiny due to the increase of their use in the informal sector. Law enforcement agencies and financial regulators concerned about anonymous cryptocurrencies potentially facilitate the financing of terrorism and are a way of money laundering. Japan, for example, has banned the trade in such coins at the local exchanges. In this article, we examined why confidential coins is not just for criminals, which can also benefit regular users.

Personal safety

Wealthy captainvalor are increasingly faced with the problem that their digital wealth is in public access on the blockchain, if any of their purses associated with the identification data. This creates a risk for personal safety, because criminals can track and chase them, trying to steal virtual assets through hacking digital devices or physical violence.

In 2018 it has been documented many cases where the attackers used conferences and public events for the search of rich victims. One of the main ways of theft was the hacking of mobile devices with the aim of obtaining private information for direct theft or extortion. At the beginning of the year, there were a lot of cases where the offender is to receive funds has had a physical impact on the owners of the virtual state.

Confidential use of crypto-currencies like Monero, zcash for, Verge, which allow you to “blur” the transaction helps to conceal assets held in all wallets. Users of such virtual currencies do not need to worry about that they can identify and follow a digital state.

Financial privacy business

The company is already working with ciproforuti may also partially or completely to move to anonymous coins. In business financial privacy plays an important role. For example, if a company accepts payments in bitcoins from a few B2B clients using the same wallet address, then the contractors can track the amount of revenue and the number of firms transferring funds.

This can have a negative impact on relationships. Customers will demand discounts, seeing smaller amounts of transfers from other counterparties. Vendors can also use the public information of the bitcoin blockchain to raise their prices if they find out about cash receipts indicating success and high performance.

The use of anonymous coins does not allow a third party to track the incoming transactions. This avoids many potential problems with contractors.

The lack of “dirty” coins

Regular users of cryptocurrencies, especially those who actively sells them, can unwittingly become the owners of “dirty” coins, which were previously used in illegal transactions. Such assets exchange often are entered in “black list”, which could significantly complicate their sale and storage.

Ultimately “spoiled” the coin can hang from users that have nothing to do with illegal activities. However, the failure of the sale is not a bad outcome. In some cases, these assets can attract the attention of law enforcement, which the owner will have to explain how they got him.

When you use confidential cryptocurrencies such situations are excluded, because funds can be identified, which guarantees the absence of “black list” and “dirty” coins.

The prevention of financial data collection

FSB is an organization that engaged in mass data collection. In fact, this niche belongs to the technical giants such as Google and Facebook. For them, collecting personal information and selling to third parties is an integral part of the business model. This often happens without the knowledge and consent of users. The magnitude and impact of this was reflected in the recent scandal involving Facebook and partially negotiated in new EU laws.

Despite some privacy advocates who are trying to deal with mass data collection, recent events indicate that this trend will only increase as the growing influence of new technologies such as IoT on our lives. Of course, that corporations and governments are primarily interested in financial information that allows you to analyze our behavior.

Although the transaction transparent bitcoin and other coins are much harder to track than Bank transfers, but they provide an opportunity for data collection. Researchers and government agencies have successfully used various methods of analysis of the blockchain and the clustering of locations to monitor movements of funds. Confidential cryptocurrency makes that impossible.

Free financial support

Individuals and entrepreneurs who want to provide financial support to dissidents or counter-cultural groups to the economic, social or political sphere can send their donations in the form of private virtual currencies. They ensure an adequate level of confidentiality which will protect from further harassment by the authorities.

An example is the defense Fund for Edward Snowden, who began to accept donations in the PTS after Barack Obama forbade Americans to support it. Then, many owners of bitcoin sent him their money, but they actually violated a recently enacted law.

However, if the Fund initially took confidential cryptocurrencies, none of the indifferent would not be at risk. Himself Edward Snowden comments positively about zcash for naming the project the most impressive Aldona and began to take donations.

Personal financial independence

When using cryptocurrency people do not need to worry about the possibility of closing a Bank account, frozen funds, the system crashes. Such situations arise more often than many of us think. This is due to the tightening of banking regulations and complexity of the internal interactions.

Of course, given the current high level of volatility the popular virtual currency, it would be unwise to keep all your capital in this form. However, complete privacy and absolute control of part of their funds greatly expands the possibilities of man.

Bitcoin also provides potential anonymity, but in reality the PTS can be relatively easily linked with the real owners. Confidential cryptocurrency in this case, provide more financial independence than digital gold.

We recommend you to learn about how and why the tiny nation become the centers of development of kryptonyte.

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