Cloak – True P2P Anonymous Cryptocurrency
Are you among the 99% of the population who has never heard of Crypto-currencies, or Bitcoin?
These crypto-currencies, or crypto’s as they are often referred to, are a payment system tied to the internet which is an alternative to country based currencies & the associated big-brother government oversight.
Bitcoin, the most well known crypto, has risen in price from less than 1c to over US$3000 today per Bitcoin.
There are more than 200 crypto-currencies out there, many with unique features, which range from ‘fast processing times’, to ‘high security’. They can be used to buy goods online, or also used like a normal credit card to buy goods at physical brick & mortar stores.
People are piling into crypto currencies at an alarming rate, with the combined crypto market capitalisation currently in excess of $100 billion. Why are people moving their money into crypto’s? One of the big reasons is that governments can just keep printing their paper money to oblivion. The general public are waking up and now looking for a store of value which won’t inflate away to nothing.
You haven’t missed the ‘boat’, there’s still many to choose from!
We don’t believe you have missed the boat on crypto’s – in fact some are still trading for very small market cap’s.
Sorting the junk from the very useful crypto trading coins can be a tricky job- but we believe we’ve uncovered a couple of useful coins you should look into.
Anonymity is a feature that has somewhat been overlooked in the crypto market, as more and more people prefer to keep their money outside the government based fiat system. The 2 coins which prominantly feature Anonymous Crypto technology are Monero Coin & Cloak Coin.
— CloakCoin (@CloakCoin) June 9, 2017
Monero’s technology in our opinion is not as advanced as Cloak Coin, but Monero has had great publicity and caused the coin to sky rocket already. Monero with a market cap nearing $1Billion is a useful coin, but we don’t see a lot of upside.
— DennisG 🇸🇪 (@Madcat_71) June 5, 2017
Let’s take a closer look at Cloak, shall we?
Cloak Coin, with a very tiny market cap of $25Mil (picture posted top is a tad old), and also featuring anonymous technology has been flying under the radar for a while.
Cloak features ‘Enigma’ technology, which means your transactions are not stored on a ledger like Bitcoin, so you can buy/sell whatever you like without big brother watching. Cloak has also recently released a new wallet storage system for your coins, making them easier to keep track of.
Is this a coin for money laundering?
We don’t think so – more just for people that are conscious about their privacy.
The code for Cloak has been fully re-written & audited. A month ago it was announced it was going Open Source.
Clif High also announced in an interview recently that he was a fan of it. Our pick, Cloak Coin, can be bought on either: bittrex.com or livecoin.net
— lasvegas83 (@lasvegas831) June 4, 2017
The price of Cloak we expect will most likely skyrocket when people realise the potential of this coin & when it is also added to additional trading exchanges.
The Final Verdict.
Side note, Article written by Cloak, although regardless, we (Bitsify) believe in this coin and recommend you to give it a look.