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Privacy coins like Monero and Dash provide additional security features.
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Demand for these coins is expected to keep rising in the next few years.
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Dash, Monero, and Zcash are some of the best privacy coins to buy.
With cryptocurrencies plummeting, some investors believe that coins that provide utility will thrive in the long term. This view explains why some privacy coins have done well in the past few weeks. For example, Dash price has rallied by 30% from its lowest level this month. Monero has also jumped by 17% in the same period. Here are the best privacy cryptocurrencies to buy.
Monero
Monero is the biggest and most widely used privacy coins in the world. Its technology makes it impossible for transactions to be tracked. It works by ensuring that the addresses that send and receive funds are anonymous by default. As we wrote in this article, it uses technologies like Stealth addresses, RingCT, and Ring Signatures.
The 4H chart shows that the XMR price has been in a slow bullish trend in the past few days. It was trading at $135.7 on Friday, which was slightly below the important resistance level at $137.02.
The coin has moved slightly above the 25-day and 50-day moving averages and the ascending trendline shown in green. At the same time, the Relative Strength Index (RSI) has moved above the neutral level.
Therefore, Monero price will likely rise if bulls manage to push it above the resistance at $137. If this happens, the next key resistance level to watch will be at $146, the highest point on November 22.
How to buy Monero
Dash
Dash price has staged a strong comeback this month. At its peak, the coin was up by more than 42% from the lowest point this month. For starters, Dash is a privacy coin that is one of the easiest to use.
It is a proof-of-work coin that uses Masternodes that enable solutions like InstantSend, CoinJoin, ChainLocks, and governance. Each Dash Masternode is required to put at least 1,000 coins in their wallet. PrivateSend makes it possible for people to send money anonymously.
Dash crypto price surged this week as demand for the coin rose. As it rose, it moved above the resistance at $38.1. It remains above the 25-day and 50-day moving averages. Recently, however, the coin has pulled back. Therefore, if you want to buy Dash, you should wait until it retests the support at $38.1. It could resume the bullish trend after doing that.
How to buy Dash
Zcash
Zcash is another popular privacy coin. It uses a complex technology that gives users the ability to select their privacy levels. In 2022, the developers introduced unified addresses that are generated from a set of multiple Zcash address types such as transparent, sapling, and orchard. As a result, transactions will move coins by default to the latest shielding pool supported by the wallet.
The four-hour chart shows that the Zcash price recovered slightly recently. It rose to a high of $44.22, which was its highest point on November 8. It has now retested the important support at $42, which was the highest level on November 14. Therefore, the coin will likely resume the bullish trend since it has formed a break and retest pattern.
