According to Forbes, the introduction of privacy coins is something that has changed the way the crypto world operates. Even the past users of cryptocurrency agree that the added feature is crucial and one that has taken digital currency to another level. Beldex coins are among the firms that have been able to incorporate this feature in their coins making it the leading crypto coin.
What are the privacy coins?
For a deeper understanding of why Beldex coin having a privacy feature makes it a leading coin, it is vital that you understand what a privacy coin is and what it does.
A privacy coin is a type of digital currency that cryptographically obscures the link between public wallet addresses of the involved parties and a transaction. This solves all the problems involved with other cryptocurrencies in terms of privacy.
Best privacy coins such as Beldex coins see that no one can track any cryptocurrencies' wallet activities including its transaction and history.
Who Uses Privacy Coins and, Why?
There are multiple uses of privacy coins. There have been multiple controversial opinions on the development of privacy coins. Many people like they are a tool of empowering illegal activities and money laundering that already exists.
However, criminals already have an inventive way to hide their hacking activities. The argument against privacy coins is that it is a way to reinforce the methods the unauthorized activities already have.
However, they are valid reasons as to why privacy coins exist. Initially, all the crypto coins used cryptography to disguise identities and transparency. Public wallets are visible to everyone and show all the wallet activities (this includes the history, transactions, the balance of the wallet, the receivers, and senders).
Well, this doesn’t sound like a really bad idea especially if it involves publicly transparent entity or non-profit activities but do you want everyone to see who you receive money from and who you send it to?
Imagine losing your clients to another strange firm simply because certain codes can be transferable? That is the greatest nightmare of any investor. This is what brings privacy coins in the picture. Some pros of using privacy coins include;
• Protecting financial information
• Safeguarding against hackers who may be targeting large wallets
• Protecting suppliers and clients list (for businesses)
Beldex coins have made a huge step to make their clients have the opportunity to enjoy this new development in the crypto world. There are, therefore, multiple uses of Beldex coins especially in the face of data collection and modern identity theft.
Utility Coins
The other thing that every cryptocurrency firm have continually promised and none has delivered is utility benefits. Beldex has gone a step ahead and has assured their clients of utility in the ecosystem created by it, where they introduce their Beldex products for the BDX coin's usage. Beldex users are looking forward to decentralized applications about to be launched by the firm in various industries offering decentralized services to its users. Beldex coins will be the fuel to ensure seamless dealings.
Team - BELDEX Coin LTD.