Privacy coins: The next big thing? I am buying XMR and ZEC regardless.

in LeoFinance4 months ago (edited)

20201029 10_11_21273853015  Windows Photo Viewer.png

We often hear people say "never put all your eggs in the same basket" or phrases similar to that one. And they are 100% right. As for me? I strictly adhere to that "rule".

Let's see a few examples why diversification is so important.

Steem for instance was the gateway to crypto for the vast majority of people who blog/vlog around here, myself included. Dazzled by the potentially high curation and author rewards if they kept buying and staking new tokens from the open market, they completely focused on how they'll grow their Steem and later on their Hive accounts (which is perfectly normal) without looking left or right for investing opportunities that popped up rather frequently.

The end result is that both Steem and Hive are heavily injured -price wise-. Therefore if one decided to invest $1000 to buy crypto and their crypto stash is consisted of 95% HIVE, say 3% BTC and 2% ETH then most likely they are bleeding pretty heavily.

Balance needs to be maintained...

That being said, my HIVE holdings is approximately 15% of my entire crypto investment. Another 25% is BTC and the remaining 60% is split between privacy coins (not equally) ETH and some of the DEFI. I also hold some shitcoins that don't even worth a mention.

There was a time that my only concern was how to earn more Hive, to stake even the last token there was available in my wallet, to buy as much as I possibly could from the exchanges. Not anymore. Does that mean I am not bullish on Hive? Quite the opposite. I still believe Hive is an underdog and it could go 20x at any given moment, it's just that I think holding around 100K HIVE tokens is enough at a 20x scenario.

Diversification ya said? So what are you holding mate?

It's no secret that I am a huge fan of privacy coins.

As a matter of fact I think that if one holds BTC, for obvious reasons, Eth as there's this DEFI craze (smart contracts), HIVE for being censorship resistant, fee-less and fast like hell, and private coins, especially XMR and ZEC, they have quite a diversified and complete portfolio, plus the possibility of earning big in the future is high. You think I am exaggerating? Nah...and frankly I don't care either. It's just the way I see things.

As for the rest of those 5000+ coins listed on CoinMarketcap / Coingecko...I don't even understand why we need 'em in the first place.

Speaking of privacy coins...

...which are my favorite. When governments and law enforcement are trying to "break" XMR's code there's no doubt that privacy coins are the next big thing. They are doing something right, and they are a pain in the ass for every government on Earth due to their untraceable transactions. Remember, they wanna know everything...who owns what, who send to whom...everything.

That alone was enough to fascinate me. Therefore I started buying XMR and recently ZEC too, long before US government announced that they are hiring devs or set a bounty(?) for those who'll break XMR's code. Nah, I ain't using the dark web nor I am a criminal who doesn't want to leave a record after each transaction. Not even a millionaire....I wish I was. I just believe that having Mordor's eye watching everything isn't the right way to go...

And privacy coins offer just what we want. What I want. Don't get me wrong, transparency, public records, all that is great but having options is even better.

There's a big difference between my 2 favorite privacy coins XMR and ZEC. XMR's transactions are 100% anonymous by default. This is the way XMR was designed, there's no option or a switch to turn it on/off and nobody will ever know who's on the receiving end. On the other hand one does have that option with ZEC. They can either send a normal/public transaction or use the shielded transaction option. As I said earlier having options is always a good thing but in this case it is a double edged knife. What if one really wants to hide something and sends a normal transaction by accident?

Long story short, and exactly because I think that my XMR bag is kinda full just like with HIVE, I thought that filling my ZEC bag is what I should do next. _Also hold some DASH but I'll explain why I am not a DASH fanatic in another post.

So I was watching ZEC's chart yesterday and realized that it's close to its ATL, Satoshi wise.

20201029 12_58_140.004258 _ ZECBTC _ Binance Spot.png

And that was a perfect buying opportunity for me. So I armed my hand and grabbed another 19 of these beauties.

20201029 13_00_390.004258 _ ZECBTC _ Binance Spot.png

I think that as time goes by more and more people will show interest in privacy coins hence their price can only go up. Who wants that big eye after them after all.

Sure, there's a risk...rumor has it that governments are trying to regulate them. Or even ban them which could result being kicked off from major DEXs...

But if not? Then I believe that they have a bright future and that these prices are a bargain...

Not a financial advice...blah...blah...blah...

Are you holding any?

Image Source

Have a good one people.


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XMR (and ARRR as a fork), or even incognito chain (using monero tech) are an excellent choice for privacy. everything else sucks however

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Nah, ZEC has identical features and is an underdog if you ask me..

But ya, XMR is the undisputed privacy king out there

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Privacy is our right and with the advancement of technology I think our privacy is hardest hit. Unfortunately masses do not understand "Privacy" and connect it with criminality.

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Can you suggest a good wallet for storing XMR? I'm not feeling comfortable keeping them on the exchange, but I didn't see that they are supported by Ledger or Trezor (tbh, I didn't look lately, but they weren't)...


Both Ledger Nano X and S support it. Trezor T also supports it

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Darn! I somehow missed that info... I will bug my son to keep XMR on his Ledger :D

Thanks for the answer!

Agree, and I an diversified myself in the assets you mention. Another thing to look into might be Enigma (ENG) and Secret (SCRT), which to my understanding are developing private smart contracts, so the kind of privacy ETH protocols. I hadn’t the tine to deepdive into it, but looked interesting at first glance.

Thanks for the suggestions. I'll have a look.

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Monero is my second asset in my portfolio after ETH
I am satisfied, don't really know about Z or D but i will stake up monero for sure, i also mine it

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From day one (well more like day two) of my crypto adventure, I loved those chains that added more privacy to what eg HIVE (well, that time Steem) does where everything is out in the open. I think I have ZEC somewhere. Need to check. But am pretty sure I looked at it back in 2017 when I was trying to figure if I can be an investor, or a trader in crypto's. To be honest, after the 2017 peak, I didnt touch my portfolio anymore and stopped looking at them completely. Only recent, I got renewed interest in mainly investing in cryptos. Back in 2017 I learned, I'm not a trader.

What you think of Stratis? They have privacy at heart as well. Just yesterday I learned about their next move. STRAT becomes STRAX, a new token on a new blockchain aiming for not only to support businesses with their blockchain needs, but also to become the goto platform for DeFi projects. They plan to integrate with Ethereum, they already support smart contracts, and their new chain is much faster than Ethereum, and the transaction cost are much lower than on Ethereum.

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Haven't digged into Stratis project tbh. The more I mix things the less I can sleep at night...

I prefer to follow the "safe path" and hold some famous coins and at the same time hope that some of the "shitcoins" I hold to go 100x and make me rich during the next bull run.

Happened before, so why not once again?

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Hahahaha LOL, agree agree.... why not again :) I dont think Stratis is a shitcoin, I think its undervalued. Around for years already, they play the game of bringing blockchain to the fiat businesses. Used Bitcoin technology for save transactions, and now having the ability for Smart Contracts and going into the game of providing a solid framework for DeFi, as well as further extension of their b2b play with business in the fiat world. But ok, I understand you, when being a token with a market cap of around 40M$, it can be called a shitcoin hahahaha But still I dont think so they are :)

Interesting.. ZEC has been around for longer than I have been into this and so has XMR (which has been rising a lot lately). ZEC is also supported natively on the of my criteria for HODL'ing.

It might look cheap but it's been quietly going up over the last year.. but not to the extent of Monero.

XMR is the king of private koins, there's no doubt about that, hence the uptrend, plus being on government's and law enforcement radar made some people thing that they've got to be doing something right over there...

ZEC will surprise you, plus the halving event is in 2 weeks so expect price appreciation .

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plus the halving event is in 2 weeks

I had a look and noticed this. I may have a dabble.

One of the best is ZCASH! When the price is 45 dollar, it's good to buy, then sell when it reach 70 and above.

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We are on the same page here

I like Hive and Monero myself, but I'm also holding fair sized chunks of Bitcoin, Etherium, Dash, and Cardano, as well as a few small punts on Tezos, Numeraire, and Status. Also watching Litecoin and ZCash.

Anytime someone outside of Hive wants to pay me and asks which crypto, I say Dash and they seem surprised. But despite it's shortcomings it works well.

This week is not happy crypto time though!

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I hold everything you mentioned but Tezos Numeraire and Satus. Instead I hold some random crap...

dash eh? doesn't work well for me. But I do hold some ust because it's a privacy coins...hell I even hold some bytecoin...

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I was never in the position of stacking every earned HIVE as I entered this game having the milking mindset right from the beginning. Well actually making living was my goal, not purely milking the platform. Haven't succeeded that yet. You've made a good bet with ZEC as it seems to be having some halving or hardfork, don't know exactly, and these are often times fireworks catalysts.

One more reason for a possible higher baseline is the halving event ya, guess I should have mentioned it too in the post. But privacy is all the matters.

Hope one day you can live off of Hive or whatever platform you're earning on.

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I'm dabbling with a Privacy coin HUSH, don't know the full story yet but I have a bit of this coin in Discord so far. I haven't made heads or Tails why it is so unique among Privacy coins yet other than watch the heated debates with frequent insults.

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I'm not so sure about your decision to support XMR, but ZEC seems great!
Hope it all turns out great for you!

Why shouldn't I? It's an absolute beast.

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I love dash better because we can send via private send to be not tracable. Other things that I love dash is easy shopping. There are many merchants that accept dash. Even I convert hive to dash when O shop internet data on bitrefill.

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It has some cool features yet I'll describe in a future post why I lean towards XMR ZEC and not Dash. Remember, privacy is what we are discussing...

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