Private Currency

What is a private currency?

Private Currency Definition: Privacy cryptocurrencies are designed to provide enhanced security while protecting privacy. They use a blockchain similar to public coins but cannot be easily connected for transactions due to privacy settings.

Private coins use cryptography which hides a user’s wallet information, including the address and balance, to provide better protection. While privacy coins are much safer and provide a higher level of privacy, there is no guarantee they will be protected.

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