20 Most Popular Private Cryptocurrency List 2023

Hey guys have you heard about private cryptocurrency? Are you wondering to know about these popular private crypto currencies? Many of you were asking what is private crypto currencyon KeneFi community. People are asking what is a private cryptocurrency is, how private crypto currency works, benefits of private cryptocurrency, how it is different from bitcoin etc.

Don’t worry guys, In this blog post I will share a full detailed guide on private cryptocurrency, how it works and how it is different from normal cryptocurrency like Bitcoin, Etherium etc, So to know more information about private crypto currencies you have to read this blog post completely.

What is Private Cryptocurrency?

Before knowing private cryptocurrency you should know what cryptocurrency is and how it works. According to Wikipedia a cryptocurrency, crypto or crypto-currency is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority like a government or bank to uphold or maintain. It is a decentralized system for verifying that the parties to transfer have the money they claim to have, eliminating the need for traditional intermediaries such as banks, when funds are being transferred between two entities.

Now I think you know what is a crypto currency and how works. Now we will know about private cryptocurrency. Normal cryptocurrencies like Bitcoin, Etherium etc are built on public blockchain and have own specific use cases. It is also near to impossible for transactions done on Bitcoin, Ethereum, Litecoin etc. The government are concerned about the anonymity of crypto currencies such as Bitcoin etc. But you can see how transactions are done, volumes etc of normal cryptocurrency as it is available publicly but you can’t trace who has done that transaction.

Now users are searching for new options to make sure their anonymity. There are many privacy-oriented crypto currencies, which have several inbuilt privacy features. The transaction history of these coins is not available publicly. And these private crypto currencies claim to offer enhanced security features which help to keep users’ identities and activities anonymous.

Also Read: How To Buy Cryptocurrency in India 2023

Popular Private Cryptocurrency List 2023

Below I am sharing a list of some popular private cryptocurrencies which offer enhanced security and anonymity to users. I have prepared a list of popular private cryptocurrencies from Coinmarketcap website. If you want to see a huge list of private cryptocurrencies then visit Coinmarketcap. They have listed these private crypto coins by market capitalization size of these coins. Below, you can see the private cryptocurrency list in India. These coins are listed by market capitalization with the largest first and then descending in order.

Sl. no	Name	Symbol	Circulating Supply
1	Monero	XMR	18,221,718 XMR
2	Zcash	ZEC	16,050,825 ZEC
3	Dash	DASH	11,078,472 DASH
4	Decred	DCR	14,628,165 DCR
5	Oasis Network	ROSE	5,725,718,533 ROSE
6	Horizen	ZEN	13,213,419 ZEN
7	Secret	SCRT	163,295,557 SCRT
8	iExec RLC	RLC	80,999,785 RLC
9	Status	SNT	3,921,516,776 SNT
10	Keep Network	KEEP	860,762,270 KEEP
11	MobileCoin	MOB	74,218,324 MOB
12	Pirate Chain	ARRR	195,080,310 ARRR
13	Dero	DERO	13,166,524 DERO
14	Phala Network	PHA	453,425,971 PHA
15	Verge	XVG	16,515,568,000 XVG
16	Dusk Network	DUSK	413,364,409 DUSK
17	VerusCoin	VRSC	72,079,795 VRSC
18	Haven Protocol	XHV	28,819,803 XHV
19	Firo	FIRO	11,890,019 FIRO
20	Beam	BEAM	130,693,520 BEAM

This list of privacy tokens was updated on January 2, 2023. You can check the latest data on the Coinmarketcap website.

Also Read: How To Sell NFT in 2023: An Easy Step-by-Step Guide

Private Cryptocurrency Threat

Governments were concerned about Cryptocurrencies like Bitcoin, Ethereum etc due to their anonymity and they were planning to regulate these tokens. The transaction history of these tokens is available publicly. But now users have switched to Private cryptocurrencies like Monero etc, Transaction history of privacy-oriented tokens is kept private and fraudsters are using these cryptos. Many terrorist organisations and fraudsters are using these private cryptocurrencies to execute illegal activities which are very concerning for us.

Many people believe that the next financial crisis will happen due to these cryptocurrencies and private cryptocurrencies are a threat to the economy.

Also Read: Best Cryptocurrencies To Invest in 2023

India To Ban Private Cryptocurrency

Last year in the 2022 country budget session India introduced a 30% tax for profit on cryptocurrency. But till January 2023 India has not recognised cryptocurrency as a legal tender and has not banned crypto tokens too. In December 2021 Indian finance minister has told that they are not in favour of private cryptocurrency. In the 2023 country financial budget session India may introduce a crypto bill or ban crypto from India.

Recently, India launched E-Rupee, which is a digital version of the Indian rupee that is different from cryptocurrency.

FAQs

Summary

In this blog post, I have tried my best to share a list of popular private cryptocurrency list in 2023. I hope this was helpful for you to know about private cryptocurrency and its pros & cons. Kindly share it with others on your social media.

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