To follow up our list of privacy coins, we will now look at Monero (XMR). Since it is a coin with a high-level privacy system you will by using monero be able to make entirely private transactions.
When you send someone money, they can’t tell it came from you. When you tell someone your Monero wallet “address” you also allow them to send money to you, no one else can know how many or if any payments at all have been sent to you. If someone sends money to you twice, no one can even tell that two payments were sent to the same person.
And if you watch the network, you will not be able to see what transactions are made, And you will not be able to see how much has been sent.
So your transactions are kept private, so even if someone knows how much you have in your wallet, they will not be able to see when you spend it because to the rest of the network it will look like your funds are used in other peoples transactions
The way to think about it
You can think of monero as being to a masquerade Once you enter the dance floor to this masquerade, you will be dancing with different other participants, Randomly be including you in the dance making you a possible source of The dance moves I make. So when you enter into monero you will also be participating in this system where are your funds will be looked at as possible sources for other people’s funds.
And for this to work you will have to look at it as the bigger the crowd, the harder it is to trace any transaction, and if we keep to the visualization of a masquerade, you will quickly guess who is who if the masquerade only contains 10 people. But if it includes 10.000 people will have a hard time finding out who is who and end up with the knowledge that it is much easier to hide in a crowd.
Can you improve it
Now when you make when A transaction in monero you know they are private, and no one can trace your transactions in monero. But if you want to remain completely secure The different measures to take such as running through the Onion network. And if you’re not that technical, you might just want to run through a VPN which will give you an added layer of security and If you’re going to get the extra layer to transactions you might want to read our article and Protect your identity on the internet which you can read right here. And if you’re going to use your smartphone to deal with cryptocurrencies we having meat and article about securing your phone and your wallet would you can read right here
The writers writing under the pseudonym of crypto Media service Iis shadow writers all with experience in cryptocurrency of at least 3 years, they have either been invested in trading or worked on the technical side of blockchain technology but wishes to stay anonymous for multiple reasons