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I hope everyone is well and I am also fine by the grace of ALLAH. There is also knowledge that I will share with you people, its purpose is only to bring awareness to us about crypto and to share knowledge with others, so I am sharing this question with you people. Here are the ones we've been asked.

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Contest Hints

• What do you know about privacy coins?

• How do privacy coins differ from regular cryptocurrencies like Bitcoin?

• What are the advantages of using privacy coins?

• What are the concerns or criticisms surrounding privacy coins?

What do you know about privacy coins?

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Privacy coins are a type of cryptocurrency used to maintain transactions and anonymity for users and privacy.These privacy coins use cryptographic protocols and protocols to hide the transaction and the recipient so that the sender or transaction cannot be traced.This makes it much more difficult to monitor. Examples of privacy coins are numerous, some of which are.

• Monero.
• Zcash.

The purpose of these privacy coins is to provide an additional layer of protection for financial privacy that cannot be guaranteed with Bitcoin, and there are more legal concerns that make their use optional. And raises legal concerns.

How do privacy coins differ from regular cryptocurrencies like Bitcoin?

There are many privacy coins and cryptocurrencies since Bitcoinsince Bitcoin.

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• In a privacy coin it is very difficult to trace the user without any trace of his transactions, on the other hand Bitcoin is an excellent and transparent blockchain that cleans and traces all user activity records. That is how the transaction has been done and which side has not been done.

• Bitcoin transactions and receiver and sender information and identities are exposed to the public whereas privacy coins do nothing, they keep everything you own hidden.

• Privacy addresses are used temporarily for each transaction and make it difficult to reconnect with the user, whereas in Bitcoin this is not the case as the transaction addresses are used the same and it can be reconnected to the user.

What are the advantages of using privacy coins?

Privacy has various benefits of using one, some of which are:

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• Best financial privacy.
• Endless transactions without identification.
• Transactions without trust.
• Protect yourself from identity theft.
• Increased access to financial aid and secure transactions as well as financial inclusion.

What are the concerns or criticisms surrounding privacy coins?

Concerns surrounding privacy coins are varied, some of which are:

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• Anonymity and ethical concerns.
• Volatility risks.
• Safety hazards and environmental hazards.
• Extreme scale hazards.
• Uncertainty and regulatory situation.

I invite @azeem22 @kashif5088 , @mubasherali @shahidalinaz to participate..

Special Thanks To

@malikusman1
@steemdoctor1

Best Regards By

@aliraza880