this post was submitted on 20 Sep 2024
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Monero

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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

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Is Monero better than other anonymous coins, like ZCash and stuff? (monero.town)
submitted 1 day ago by [email protected] to c/[email protected]
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Hey, guys. Can anyone explain in simple words, what are the main benefits of Monero compared to other anonymous coins?

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[–] JimmyCryptoMan213 3 points 13 hours ago* (last edited 9 hours ago)

Keep in mind not all "privacy coins" are private. Some claim to be private because they have a privacy mode or just simply use IP obfuscation.

All monero transactions are private. The sender, reciever and amount are hidden. This is a true privacy coin because of these three features.

ZCash privacy is opt in

Dash I do not consider to be a privacy coin but is called a privacy coin since it has a privacy send mode.

There is Firo which I have not used much but I believe its privacy is opt in

Zano is a privacy coin that looks promising.