Best anonymous crypto exchange offers

One always wants the crypto exchanges to be faster, safer and more profitable. It is very easy to lose yourself in the dazzling variety of different exchange platforms. Of course, crypto owners many times get richer in an instant, and this raises the security question. Anonymity is what is vital, and it is the priority for Swapzone Therefore, we in this article we will try to show you the way in this labyrinth of offers and point out the most promising anonymous platforms for managing your crypto in 2020.

Convert Cryptocurrency Without Registration

When Bitcoin emerged on the international financial arena about ten years ago, governments did not care about digital currency at all. Now, most countries are elaborating laws governing the regulation of cryptocurrencies, whereas some have banned them completely. People who trusted their governments to develop smart crypto laws in places like China and India have lost a lot. Cryptocurrency owners who choose to be as anonymous as possible are far more likely to retain ownership of their cryptocurrencies and use them the way they want.

How to stay anonymous with your crypto?

Some people are not registered anywhere, due to social conditions. Some deliberately refuse to use bank accounts, as transactions can track all the actions of a person. The tragedy is that Bitcoin would be an ideal means of storing values for those who prefer not to use banking products, but bitcoins are usually difficult to buy without entering your ID. At least so far this has been the case.Buying bitcoins anonymously is a good start to maintaining your crypto privacy, but there are other things to consider. The Internet is widely open to hackers and government agents, so if you want your cryptocurrencies to be as anonymous as possible, read on.

Instant Crypto Exchanges KYC/AML Procedures

Financial institutions normally use procedures KYC (Know Your Client) and AML (Anti Money Laundering). Thanks to the identification the institutions get the information about the person and the financial sources. The client gets the opportunity to make an official agreement.

KYC is customer verification, identification and identity verification. In essence, KYC is used when someone tries to open an account or conduct a transaction. The KYC process usually includes:

  • Verification of identity (photo with passport)
  • Verification of the address (some account with your address and name)
  • Verification of the user in illegal activities
  • Studying the source of funds and destination
  • Search for illegal transactions or evaluate too large transactions

With the help of KYC, those who do not have the right to use the services are screened out. Illegally obtained incomes are always in the course of being laundered or converted into net assets. At some point, scammers began to understand how convenient the cryptocurrency world is for those operations.

To prevent these activities, the AML process includes:

  • Search for large transactions
  • Coin movement control
  • Obtaining KYC information and checking whether a person has been noticed in suspicious actions

With the help of KYC, those who do not have the right to use the services are screened out. Illegally obtained incomes are always in the course of being laundered or converted into net assets. At some point, scammers began to understand how convenient the cryptocurrency world is for those operations.

As we noted before, the major part of crypto exchanges stays true to these practices. Let us look now into the world of truly anonymous currencies. We will also explain in brief, by what means is the anonymity guaranteed.

Exchange crypto anonymously

Top 5 Privacy Coins

Anonymous coins are peer-to-peer payment systems with their own internal payment unit. Their main goal is to ensure complete confidentiality of financial transactions using special technologies and cryptographic protocols.

Monero (XMR)

The developer of the main anonymous cryptocurrency Monero, Ricardo Spagni, believes that the digital industry needs financial privacy. Otherwise, in the best scenario, the market will be flooded with targeted advertising based on consumer preferences. In the worst case, criminals will start waging wars against individuals with a large amount of cryptocurrencies (after all, almost everyone can find out the balance of someone else's bitcoin wallet).

Monero (XMR) is a cryptocurrency that, in fact, appeared back in 2014 and provided key advantages in the field of privacy. It is focused on confidentiality and works with open source technology using Blockchain. Open-source or open code means that technology and software are built, tested and improved through collaboration with users. According to Monero, more than 240 developers participated in the project, with 30 of them marked as the “main” group.

Dash (DASH)

Dash (DASH) is an open-source cryptocurrency launched in 2014 that offers convenient solutions ("open-source" means that the technology and software are built, tested and improved when working with users). Dash, like Bitcoin, allows you to shop on the Internet and work with Blockchain, which publicly discloses each transaction (Blockchain presents a public record book of all transactions on the network).

Dash has been able to improve the original idea of Bitcoin in several ways, including speed, cost, and management. Dash transaction speed is not comparable to Bitcoin. While Bitcoin transactions can take up to 10 minutes or more to confirm, Dash allows you to complete a similar transaction in just 4 seconds. The difference in speed is certainly striking. Dash provides strong encryption features to make privacy possible on Blockchain, in particular the PrivateSend tool. The main difference with Monero is that it is an option, not a built-in function.

Zcash (ZEC)

ZCash (ZEC) is a cryptocurrency project that arose from the idea of Zerocoin / Zerocash, proposed back in 2013. It was launched in October 2016, previously it was known as Zerocoin. It uses cryptography, which in theory should ensure the privacy of its users. Cryptography, like cryptology, analyzes various protocols that prevent third parties or the public from reading private messages.

Zcash and Bitcoin have a lot in common. There are two types of Zcash transactions: private and open (similar to BTC). When you download the official Zcash wallet, you see that it offers two types of addresses: t-addr, your common address and z-addr, your personal address. You can choose which one to use. Bitcoin transactions are completely transparent. Everyone can use the BTC block explorer to check if a transaction was sent from one BTC address to another. Zcash becomes private if the user selects a z-address.

Verge (XVG)

The Verge project aims to create a cryptocurrency with an emphasis on complete anonymity of transactions, high throughput and fast confirmation. Unlike most popular projects, Verge does not have any formal organization or community. The project is open source, and the team consists of independent pseudonymous developers. Black paper of the project is signed only by the creators’ nicknames. Privacy, anonymity and decentralization are the main principles of the project.

Verge's anonymity technology affects the process of connecting a user to a network. There is a different approach to data transfer involving Tor and I2P protocols. They are also adopted by Verge to ensure anonymity of users. Tor (TOR, The Onion Router) is a well-known Internet network of devices carrying IP addresses, embedded between the sender and receiver of data. In addition, the data goes through several stages of encryption to make it difficult to intercept halfway. I2P is the next generation technical solution. Unlike Tor, I2P offers a dynamic destination for sending a package on a p2p network.

ZCoin (XZC)

Zcoin is a decentralized digital cryptocurrency with a focus on anonymity and privacy. The project started on September 28, 2016, the leader is Poramin Insom. The public release of the testnet took place on December 18, 2015. In the initial stages, the project was called Moneta. In the case of Zcoin, the zero-knowledge proof protocol proves the fact of legal possession of the coins sent by the user. However, no one knows their source.

It is simple to understand how it is done. Take the Gmail email service. We know the password and, let’s imagine, we want to show our account to a friend. To do this, it is not necessary to disclose the combination - just log in to your account without showing any data. The very fact of authorization is what interests us. The result is achieved through the cycles of burning and minting (creation) of coins. The process guarantees the absence of any information about user activity. To anonymize, users burn their Zcoin to get Zerocoin. Commission - 0.01 XZC per transaction. Zerocoin tokens are new, so it’s not possible to track the activity.

Swapzone is the aggregator of the new generation. Its creators have already taken into account all the previous drawbacks and now are ready for the users to thrive. We offer you the opportunity to make exchanges operating with 300+ Altcoins without perpetrating time-consuming researches. . All you have to do is:

  1. Open the Swapzone main page
  2. Select the cryptocurrency that you have, a coin or a token
  3. Select the cryptocurrency you want to get in exchange
  4. Enter the amount you want to exchange.
  5. Select an offer in a list of partners
  6. Click “Exchange”.
  7. Enter the wallet address your exchanged coins are going to be sent to
  8. Click “Proceed the exchange” button
  9. You’ll get the QR code with the address you have to send your coins to
Exchange crypto private coins

Conclusion

Working with crypto may turn out as a difficult process. However, the exchange aggregators can become your personal compass, showing the best prices offered. Some ratings may be biased and the market volume is not the best criterion to find YOUR platform; so, it is worth making your own (or read our) research and choose for yourself the option suitable. We offer you Swapzone as the base for your future exchanges, as it we won’t be once bitten: we know how to make amendments to the other platforms’ drawbacks and save your time and money. Besides, one can easily profit from comparing the prices and knowing how to operate in the world of 300+ cryptocurrencies. Join Swapzone and see the difference!