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Tag: Bitcoin alternative

  • Top anonymous digital currencies for untraceable payments

    Top anonymous digital currencies for untraceable payments

    The aim of the currencies below is to make it impossible for an investigator to analyze a public ledger, known as block chain in Bitcoin, and to hide the identities of those making and receiving payments. Other advantages are that the money can not be seized and transaction fees are very low or non existent.

    WARNING! The world of cryptocurrencies contain elaborate scams, pump and dump and pyramid schemes. I am not endorsing any of the currencies below, it is your duty to double check claims about anonymity and trust.

    Dash (DASH): One of the most popular, Digital Cash is a Bitcoin based electronic currency focused in privacy. The wallet contains a coin mixer, you have the choice to make your financial operations public or anonymous, using a decentralized network of servers called masternodes that anonymize the transaction, the level of anonymity can be configured to in between 2 or 8 node hops. Digital Cash coins can be earned if you help the network running a masternode but this is not necessary.

    CloakCoin (CLOAK): Every CloakCoin user becomes part of the network which increases anonymity, in exchange for keeping your wallet open and helping others be anonymous, you earn interest on the CloakCoins you hold. A built in decentralized market called OneMarket can be used to spend your currency anonymously, anybody can advertise and buy services or goods in OneMarket, or you can exchange your coins in CloackTrade.

    anonymous cryptocurrency cloakcoin
    anonymous cryptocurrency cloakcoin

    ShadowCash (SDC): Decentralised cryptocurrency with the choice of making public or private anonymous payments. When you open your wallet it will help run the peer to peer network and you will be compensated with electronic cash. ShadowCash comes with an embedded private messenger that encrypts communications and allows you to talk with other users on the network.

    LEOCoin (LEO): The Learning Enterprise Organisation coin has a focus on being user friendly, it has a decentralized peer to peer payment system with proof of work and proof of stake validation. The public ledger is encrypted. An article in Coindesk has scam accusations against the developers of this currency, I would be very careful with it, the accusations are somehow substantiated with real facts.

    AnonCoin (ANC): Anonymous cryptocurrency with native support for the I2P network, it can also be used over Tor, AnonCoin will not only decentralized operations but it also anonymizes computer IPs when you connect to a client. This currency has been around for two years and development is very active, with good documentation, a Wiki and discussion forum, it can be traded in various exchanges.

    Anoncoin wallet
    Anoncoin wallet

    Monero (XMR): Open source untraceable currency using peer to peer transactions and a distributed public ledger, receipts and money transfers remain private by default. Ring signatures add a degree of ambiguity to make it harder to link a transaction with an individual computer. This currency can be integrated in the I2P anonymous network and you can run a full node if you want to, another choice is to use a web based Monero account.

    BitcoinDark (BTCD): It has a very novel unproven approach to currency anonymity, BitcoinDark uses what they call Teleport to clone and exchange currency denominations out of the block chain. A hard to understand technology, first generation cryptocurrency. BitcoinDark is part of SuperNET, a decentralized currency exchange that makes it very difficult to steal digital currency by storing it in multiple nodes.

  • Anonymous online payments with Shadow Cash

    Anonymous online payments with Shadow Cash

    ShadowCash (SDC) is a decentralised crypto currency with a focus on privacy and anonymity, one of the beautiful things of ShadowCash is that you can have two addresses, one that works like Bitcoin, with the operation recorded on a public blockchain called shadowchain, and a second stealth address for anonymous payments where the cryptographic transactions are untraceable to the source.

    A P2P encrypted messenger called ShadowChat comes integrated with the software, conversations are secured with AES256 bit without any central server that could be compromised. The existance of ShadowChat gets rid of the need for email or phone calls outside de client, you don’t have to learn PGP or beg the other part to use encrypted means of communication, ShadowCash software is all that is needed to negotiate deals and send money securely. The messenger is text only but audio, video and sending of attachments are in the road map for the next version.

    I can’t see myself using video chat not knowing who is at the other end of an anonymous payment but the attachments option is definitely welcome. Even if you don’t make any financial transaction, ShadowChat could be used for day to day chatting and anonymously trading of files.

    anonymous electronic currency ShadowCash
    anonymous electronic currency ShadowCash

    There are dozens of alternative currencies out there but ShadowCash offers something that is in high demand and very few can fulfil, real anonymous payments. The software is well documented, available for Windows, Mac, Linux and mobile device wallet (ShadowGo). Initially ShadowCash has to be bought with Bitcoins, after that it can be traded in major exchanges like Cryptsy and Poloniex. A fairly active community using ShadowCash provides you with support, this currency looks like it is here to stay.

    You can get free SDC coins running the ShadowCash client contributing to process parts of the P2P shadowchain. If you do you will see a message saying “Staking expected time” this let’s you know when and how many SDC coins will be awarded to you.

    A marketplace software called ShadyBay (sbay) is also being developed, currently in alpha, when fully completed you will be able to set up your own online shop to sell goods and services with anonymity.

    After seeing all that ShadowCash has to offer, I have decided that I will make payments with it whenever possible. I have used Bitcoin before and without a bitcoin tumbling service, that takes a commission and carries risk of the bitcoins going missing, anonymity does not exist.

    I believe ShadowCash to be superior to Bitcoin in many aspects, my favourite feature being the included encrypted messenger that saves me of having to send insecure emails, which is often necessary when selling and buying. I loved this project, however, the Windows version crashed a couple of times in my computer, since ShadowCash is still new, I will be giving them another try soon.

    Visit Shadow homepage