New to crypto and want to invest in DeFi with privacy?
Transacting with privacy with crypto currencies in general is quite dificult.
#Bitcoin privacy very low in L1, non existent if you are buying your Bitcoin in a centralize exchange like Coinbase etc. And if you are buying non KYC, which is an improvement, you will need to use L2 solutions to gain full privacy, which are not decentralized and therefore those solutions have trade offs that for some are unaceptable, you can improve your privacy self hosting and using LN but it is inconvenient, lots of work and not easy, despite some hard core religious bitcoin believers that will tell you otherwise. Not much happens in Bitcoin for you to get yield but price appreciation. Very little development around it when compared with EVMs. But it is a very good investment. Being a hodler and long term Bitcoin investor is an excellent choice.
But I assume you want mad gains, don't let the religious bitcoiners cultists to discourage you, DeFi is a land of opportunities, diversify, do your own research, and be mindful, there area lot of scams and con artists in the Fiat world, therefore, you will find plenty of those in DeFi as well. Take your time, test, start small and be extra careful.
#Ethereum, #Solana, #Pulsechain, as all other EVMs do not have neither privacy in L1 and using a L2 solution would have the same problem as with Bitcoin. But if you want DeFi which gives you high yield financial solutions like Certificates of Deposit (stacking in farms), trading in decentralized exchanges, adding liquidity to asset pairs and getting pay for being the bank (yes, you can be the bank and profit), and much more, most of it decentralized with no middle man, 24/7 investment posibilities.
Imagine you got yield, mad gains or you are now a crypto banker living from your excellent DeFi investments, How do you off ramp into Fiat those earnings keeping the cyber criminals away? You need tools to transact with privacy
Check our latest article in stacker news that discusses how to do so in Pulsechain, if you are in another EVM, search around, I am sure you can find a way in most networks to do so safely.
https://stacker.news/items/606558/r/ZKZX
If it is the government and it is spending people's money, yes, transparency is key.
But crypto was created as p2p cash for the people to transact, sending money to a business or acquaintance giving the receiver the possibility to know how much you own of Bitcoin or ETH or PLS is very unappealing for most privacy conscious people who understand that they are risking if their savings are not modest. Thiefs and cyber criminals have it too easy nowadays with the youth thinking they are safe and they have nothing to hide. That is very dangerous and if you do a quick search, you will find that many people are getting visited at home, torture and worst for their crypto, just recently there was a gang dismantle in USA that was doing so, there are reports all over the world, here few examples:
India:
https://www.newsweek.com/cryptocurrency-traders-abducted-tortured-india-criminal-gang-arrested-bitcoin-ransom-1449274
Spain:
https://cryptopotato.com/tuentis-founder-tortured-to-reveal-his-bitcoin-private-keys-report/
Argentina:
https://nypost.com/2023/07/27/millionaire-crypto-influencer-found-dismembered-in-suitcase/
USA:
https://www.wired.com/story/crypto-home-invasion-crime-ring/
And when you say they made Monero for that, it was more complicated than that, but yes, Monero is great to transact with privacy, probably the best we have, but... Billions of dollars are invested in DeFi financial instruments in chains like Ethereum, Solana or Pulsechain, therefore, while in those chains, once having profits if any, to bridge out into anything else (like Monero and from it to Fiat) it is important to break the chain analysis first, so you and your family stay safe, and for that you need privacy tools, Monero does not live in any of those EVMs, nor has any DeFi contracts with billions of dollars locked into it.
Transacting with privacy is important, in this series of short videos the community of ZKZX shows how to use the web app.
In this short, how to withdraw
https://odysee.com/@ZKZX:2/withdraw:d2
Transacting with privacy is important, in this series of short videos the community of ZKZX shows how to use the web app.
In this short, how to deposit
https://odysee.com/@ZKZX:2/howtodeposit:5
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