Topic: How can some fraudulent people be discouraged from using cryptocurrency ? (Read 326 times)
April 04, 2019, 04:31:31 PM
One of the reasons it is hard to track sac!mere of fraudsters in the crypto space and that have one thing or the other tondo with cryptocurrency, is because of its anonymity. Even at that, those of them who use exchange sites or some forms of wallets,such as blockchain, can be tracked through their kyc.
April 02, 2019, 05:08:20 PM
Before I joined crypto space, I used to watch some series where cryptocurrency is used as a payment for business there.
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
They could only know you if you submit your personal info in exchange platform .So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
They could track your transactions with the address link to your account.
So I think it would be impossible to track your real address unless you would go through KYC.
April 02, 2019, 03:59:08 PM
- value can change dramatically: maybe you can buy today bitcoin but tomorrow the price could be lower then today 
(remember the 20k $ peak?)
- it's a technology hard to use: maybe a criminal want use a complicated system with private keys and etc etc
- it's a pseudo anonymous system: most of coins are not totally anonymous and can lead to a lot of trace
- this is not a mainstream technology, I think that a lot of criminal have never heard about it
https://news.bitcoin.com/illegal-activity-use-bitcoin-dea-agent/
(remember the 20k $ peak?)
- it's a technology hard to use: maybe a criminal want use a complicated system with private keys and etc etc
- it's a pseudo anonymous system: most of coins are not totally anonymous and can lead to a lot of trace
- this is not a mainstream technology, I think that a lot of criminal have never heard about it
https://news.bitcoin.com/illegal-activity-use-bitcoin-dea-agent/
Quote
A special agent with the U.S. Drug Enforcement Administration (DEA) has reportedly revealed that the use of bitcoin in illegal activities has shrunk to about 10 percent from 90 percent previously. This finding contradicts the popular perception of the cryptocurrency’s primary use.
April 02, 2019, 03:51:46 PM
With the way everything is going , they won’t be going anywhere. But the only way I think they will be stopped is if maybe the government takes over cryptocurrency and requires everyone to confirm their identity before they will be allowed to make use of it lol. Maybe that way a lot of them will run from it. They are making use of it because no one is looking into it and it is hard for them to get caught.
March 22, 2019, 12:13:56 PM
Fraudsters use fiat money more often than cryptocurrencies. But for greater anonymity, it is better to use Zcash, Monero, Verge, because Bitcoin's blockchain is open and all transactions are available for viewing, which means that you can be tracked when you exchange Bitcoin for fiat money on a crypto exchange.
March 21, 2019, 06:54:37 AM
Cryptocurrency created as peer to peer transaction and its decentralized. I think cryptocurrency or bitcoin created because third party like banks not provide a cheap transaction fee and the transaction take a long time. Cryptocurrency offering fast and cheap transaction
These benefits are what makes the cryptocurrency more superior to the normal traditional banking systems, and that is why many banks are frowning at it and government not willing to adopt it, because they see it as threat since it is not being regulated and also feel that it is an avenue for a fraudulent person to launder money, and get away with it without being able to trace him.But I think for now, no fraudulent person will be able to get away using crypto currency because most of these exchanges do their KYC too and any crypto must also be changed to fiat currency pending when the block chain is fully established an widely used and once the crypto is changed to fiat which will in turn give a large sum of money, the banks will surely query it.
March 20, 2019, 06:29:26 PM
You wrote it right. Anonymity is an integral part of crypto, but this is what causes distrust of it from other people. Everyone thinks that if crypto is anonymous, it is illegal. However, it is not.
March 20, 2019, 06:11:09 PM
Maybe by full regulation or getting every project developer that wants to introduce a product into the market to undergo a kyc/aml process with a centralized body (although it may defeat the purpose of crypto and its decentralization and obscurity features)
March 20, 2019, 05:21:59 PM
-snip-
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
In case of bitcoin, remember, the transactions made using bitcoin is not anonymous. Rather they are pseudonymous. Being pseudonymous is not the same thing as anonymous. If you are anonymous, you can not (or going to be extremely hard) be tracked. But, on other hand, if you are pseudonymous, you can be tracked if some how your wallet could be linked to something that can led to you (your name, address and other info). Just google it and you will know what I am talking about.I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
March 19, 2019, 08:24:58 PM
Before I joined crypto space, I used to watch some series where cryptocurrency is used as a payment for business there.
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
Cryptocurrency created as peer to peer transaction and its decentralized. I think cryptocurrency or bitcoin created because third party like banks not provide a cheap transaction fee and the transaction take a long time. Cryptocurrency offering fast and cheap transaction
March 19, 2019, 07:35:02 PM
This is decentralization, hard to traced a wallet if the owner makes it untraceable and he is good at doing it, it can only be done if it goes an exchange or the wallet is active in bounty campaign but other than that it's hard to trace a wallet to a specific person.
March 19, 2019, 06:35:39 PM
It's possible, but then it would be against the rules of crypto. It was created for the purpose of anonymity and decentralization. So it seems to me that many would be against their addresses being identified.
March 19, 2019, 05:32:30 PM
Of course not, because one of the main principles of cryptocurrency is anonymity, and its violation is already undermining the denial of cryptocurrency, but there is another way, if the wallet owner passed kyc, he could leave his data.
Crypto is better as it is. If we pass KYC, there will not be much left about crypto nature. I do not know, but there must be another way to do that, and that should not be KYC. March 19, 2019, 05:23:08 PM
For now I don't think there is anyway that fraudulent people will be discourage from using cryptocurrency, the government and other security agencies have not been able to stop all the criminals making use of fiat money to carry out fraudulent activities, how can they stop someone who is making use of a platform that is totally anonymous and transactions can't be traced to anyone.
The last I checked, the crypto market is a free market making it open for everyone including fraudulent people. We just have to be very careful while making transactions.
The last I checked, the crypto market is a free market making it open for everyone including fraudulent people. We just have to be very careful while making transactions.
March 19, 2019, 09:15:21 AM
Fraudulent people are not discouraged to use cryptocurrency space. Fraudulent people are encouraged to use crypto, precisely because there is no way they can get caught. But cryptocurrency as a payment method offers many advantages. The transaction is very fast and you do not have to spend money with cash. You are right, there is no way to track the funds and I do not think there will be such a thing, unfortunately. This is the only disadvantage of using crypto.
March 19, 2019, 06:19:06 AM
The main reason for me is the lack of third part and low fees. Especially fast blockchain can transfer huge sum of money within seconds, like LTC or XRP. Anonymity plays a great role as well, because some cryptos allow completely anonymous transactions.
March 19, 2019, 06:13:33 AM
Since any blockchain being used encryption on its transaction and it looks impossible to know the real life address except that person was registering on the centralized exchange site that gives KYC as a mandatory for all participants or users.
that's the only possible thing
Provided they carry out the transaction on a centralized market because you will hardly find any fraudulent transaction carried out too on these markets, any fraudulent person will go through other parts of decentralized exchanges and the ones that will not accept kyc. Most KYC are even strictly for the consumption of the exchange and not for public use which the exchange who is also anonymous might not disseminate the information available to him.that's the only possible thing
The system was just created to create means of convenient transaction though has its securities too to protect people’s fund but cannot detect and filter whoever the user is transacting with, so it is left for the user to be careful of its business transactions.
March 19, 2019, 04:43:38 AM
Before I joined crypto space, I used to watch some series where cryptocurrency is used as a payment for business there.
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
I think it is not, but when you do criminal thing. I read something when i got hacked in Bittrex. They can reveal owner of address's identity only if asked by law enforcer. So i think it is possibly to happen especially a lot of exchanger ask their users to do KYC. So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
March 19, 2019, 04:39:44 AM
Everything returns to the Crypto base, from the beginning of Crypto I thought it was anonymous and people were free to do anything here. I like it here because it makes money without paying taxes to the government. Moreover, this technology is very good and continues to grow.
March 19, 2019, 04:05:16 AM
The few points you mentioned above are part of the main reasons why block chain technology was created, a system of decentralization that provides anonymity for its users and without the interference of third party in which the advantages of these system is far more than the disadvantages, the number 2 you frowned at is just 1 of its little disadvantages which there is no system ever created on earth that is 100% perfect.
Even through the centralize market, a lot of people still finds it easy to conceal large sum of money without being traced. So I really doubt if anything can be done to stop fraudulent people from using the system, just like when it rains or sun, it rain & sun on both evil and bad, the most important thing is to look at the benefit of the system to our own daily life and guard of our investment or money jealously through any mean we can use.
Even through the centralize market, a lot of people still finds it easy to conceal large sum of money without being traced. So I really doubt if anything can be done to stop fraudulent people from using the system, just like when it rains or sun, it rain & sun on both evil and bad, the most important thing is to look at the benefit of the system to our own daily life and guard of our investment or money jealously through any mean we can use.
March 19, 2019, 02:38:12 AM
I don't think that there is a way to link one wallet to the real-life address because it just a wallet without any information. Other people don't know who is the owner of that wallet.
It could attract the money laundering to grow, but I am sure that the governments will have a way to detect the fraudulent. The government can watch someone's bank account, and if he transferred a big amount of money, then the government can trace to whom he sent the money. After that, the government will do something with the owner of that account and the person who was receiving the money.
I am sure that the government can take a red line if someone wants to use crypto for money laundering.
It could attract the money laundering to grow, but I am sure that the governments will have a way to detect the fraudulent. The government can watch someone's bank account, and if he transferred a big amount of money, then the government can trace to whom he sent the money. After that, the government will do something with the owner of that account and the person who was receiving the money.
I am sure that the government can take a red line if someone wants to use crypto for money laundering.
March 18, 2019, 11:47:16 PM
Before I joined crypto space, I used to watch some series where cryptocurrency is used as a payment for business there.
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
Basically, we should increase the security of our platforms, to only allow one account per person, not allowing them to duplicate their activity and spread fraudulent activities on the crypto space. In that case, they might be discouraged though.
March 18, 2019, 11:17:17 PM
IMHO anonymity in crypto is just a matter of time. If you can see all wallets changing balances this can be analyzed and with low volumes like now, it can be easily solved with different algos. Another question is the bridge where you can change your money on fiat, where all criminal can be caught.
Exactly, tracking everyone's crypto transactions is time consuming and privacy breaching, just regulate the mediums where crypto gets converted to fiat.
March 18, 2019, 11:28:00 AM
IMHO anonymity in crypto is just a matter of time. If you can see all wallets changing balances this can be analyzed and with low volumes like now, it can be easily solved with different algos. Another question is the bridge where you can change your money on fiat, where all criminal can be caught.
March 18, 2019, 11:19:50 AM
Exactly as the regular fiat people. Dollar has been around for centuries now, gold and coins have existed for millenias yet there are still people who have scammed other people and some of them went to jail or some of them even got away with their scam and never seen any consequences of their actions.
The fact that if you "steal" peoples money even if not directly out of their pockets but in a some conman type of scamming way it is still seen as stealing and you go to jail hasn't stopped people from doing it at all. You still have people who scam people and go to jail, so if jail is not something you can discourage them to do why do you think you could somehow stop the crypto scammers either ?
It is not possible, make it known very clearly that you will go to jail if you scam people even in crypto world but that would just slow it a bit, you can't stop it at all.
The fact that if you "steal" peoples money even if not directly out of their pockets but in a some conman type of scamming way it is still seen as stealing and you go to jail hasn't stopped people from doing it at all. You still have people who scam people and go to jail, so if jail is not something you can discourage them to do why do you think you could somehow stop the crypto scammers either ?
It is not possible, make it known very clearly that you will go to jail if you scam people even in crypto world but that would just slow it a bit, you can't stop it at all.
March 18, 2019, 08:54:33 AM
Of course not, because one of the main principles of cryptocurrency is anonymity, and its violation is already undermining the denial of cryptocurrency, but there is another way, if the wallet owner passed kyc, he could leave his data.
March 18, 2019, 08:40:46 AM
Actually we can track the transactions by simply knowing the wallet address or transaction id so it is more convenient than tracking a fiat transaction,and it is just a blind theory to say people doing crimes were using crypto currencies.
Indeed it's not hard tracking a transaction using a blockchain-explorer (except for privacy-coins) but assigning the transaction to a real person is much harder. The weak point are usually the exchanges so it might be possible for the law enforcement agencies to get in contact with them or they'll need a search warrant (might be hard if the exchange is in another country).
However you're right - I doubt that cryptocurrencies are used that often by criminals except for stuff like ransomware or as payment-method for markets in the "darknet".
March 18, 2019, 08:21:34 AM
Its actually more safer to use crypto as means of payment but tracking transactions is available on crypto ,that's why we have block explorer,ETH own is etherscan where you can track a transaction you send out from your wallet and you can confirm of it deliver or not
But not all payments can be done with crypto. Only special places can be used for crypto payments. What I know is that transactions can be traced to using etherscan if using erc20. Everything that happens in a bitcoin wallet or ethereum can certainly be tracked of course.These are only half accurate facts. Most financial transactions, whether using crypto or not, can be tracked. Bank accounts provide a way of tracking electronic transactions and since are linked to identities also satisfies all the KYC of states. Cryptocurrency in general have transactions stored on blockchains, which can be looked up.
Also traceability is not a feature of all crypto some make it purposefully so that you cannot trace them!
But it is not SAFER because of this at all. In fact, bank deposits are probably safer because insured by your goverment.
March 18, 2019, 07:20:55 AM
People and country don't use cryptocurrency because this is very risky like there's no assurance here base in different investment then actually a lot of users leave crypto already when they lose here but most of them are newbie only like they don't know how cryptocurrency really works still better to teach them little by little i'm sure in the future crypto world will accept by all people or country
March 18, 2019, 04:56:38 AM
Before I joined crypto space, I used to watch some series where cryptocurrency is used as a payment for business there.
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
Technically it’s an easy way to carry out money laundering activities
But the main concern for crypto currency for me, is the existent of scam icos , stos and also exit scam exchange platforms
March 18, 2019, 04:48:02 AM
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
Considering the huge amount that one will send to another, the fees are extremely cheap and became easier to receive it because with the increased volume of wallet developers that you can use.1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
~
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
If you know personally the owner of that address or has a label like the wallets here: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html~
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
But mostly, you are correct it's almost impossible to track the owner as no personal information attached for each transaction.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
And almost impossible to send to the wrong address because of the number characters and all of them are uniquely made. March 18, 2019, 04:31:01 AM
Before I joined crypto space, I used to watch some series where cryptocurrency is used as a payment for business there.
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
Well, fraudulent activities are existent in all aspects of life
So with crypto currency bringing easy means of payment across the world
So it’s easy to move millions of dollars through crypto currency by just buying bitcoin
March 18, 2019, 04:15:17 AM
Yes, that is you go dig deeper on the technical aspects of blockchain. There are company who specializes on this one like: https://www.chainalysis.com/.
And that is why there are a lot of mixing or tumbling services just like in my signature. This is a way to hide your address and your coins by mixing it to make you more "anonymous".
And that is why there are a lot of mixing or tumbling services just like in my signature. This is a way to hide your address and your coins by mixing it to make you more "anonymous".
March 18, 2019, 03:54:53 AM
Actually we can track the transactions by simply knowing the wallet address or transaction id so it is more convenient than tracking a fiat transaction,and it is just a blind theory to say people doing crimes were using crypto currencies.
March 18, 2019, 03:39:16 AM
When we get to use cryptocurrency on each and everything, this becomes more effective. However things change or move, the fraudulent people's involvement will be found around. As cryptocurrency is completely functional through the internet any form of transaction can be tracked. This way it provides the transparency, if the end user is known then the entire anonymity goes off.
March 18, 2019, 02:27:02 AM
Its actually more safer to use crypto as means of payment but tracking transactions is available on crypto ,that's why we have block explorer,ETH own is etherscan where you can track a transaction you send out from your wallet and you can confirm of it deliver or not
But not all payments can be done with crypto. Only special places can be used for crypto payments. What I know is that transactions can be traced to using etherscan if using erc20. Everything that happens in a bitcoin wallet or ethereum can certainly be tracked of course. March 18, 2019, 02:24:48 AM
For payment issues using Crypto, I think because they are safer and easier. So they don't need to use cash to travel anywhere. In addition, this Crypto value can change and that means when Crypto recipients can benefit from rising market prices.
March 18, 2019, 02:23:14 AM
Before I joined crypto space, I used to watch some series where cryptocurrency is used as a payment for business there.
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
Since any blockchain being used encryption on its transaction and it looks impossible to know the real life address except that person was registering on the centralized exchange site that gives KYC as a mandatory for all participants or users.So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
that's the only possible thing
March 18, 2019, 02:17:28 AM
Its actually more safer to use crypto as means of payment but tracking transactions is available on crypto ,that's why we have block explorer,ETH own is etherscan where you can track a transaction you send out from your wallet and you can confirm of it deliver or not
March 18, 2019, 02:06:55 AM
Everything is curled from what kind of cryptocurrency you are talking about. You can use anonymous cryptocurrencies in which it is impossible to track transactions between wallets.
March 18, 2019, 12:09:22 AM
It's quite hard and goes against the basic purpose of cryptos which is privacy, cash is regulated but it's still used for money laundering, right?
March 14, 2019, 12:31:00 PM
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
As regards this main concern of yours, it is actually one of the setbacks we presently have in they crypto space.I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
The only way or means it can be easily traced, which we have for now, is through cryptocurrency exchange and that is of such exchange is ready to cooperate with those investigating, to apprehend the person or persons.
We all know that some exchanges demand for kyc to be completed before certain amount of withdrawal or before the use of their exchange sites. So that in itself is a means.
March 14, 2019, 12:15:45 PM
Technically it is possible. There are probably programs that track the transaction chain, so even the mixer can be tracked. Thus, if it is known that a user is related to at least one address, everything is possible.
Blockchain is not created for anonymity.
Unfortunately, scammers can take this into account and use fake people or something like that.
Blockchain is not created for anonymity.
Unfortunately, scammers can take this into account and use fake people or something like that.
March 14, 2019, 11:55:00 AM
Before I joined crypto space, I used to watch some series where cryptocurrency is used as a payment for business there.
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
So I was wondering what is this cryptocurrency till I joined last year.
I have come to understand the reason why these people use cryptocurrency as a medium of payment.
1. It's easier to conceal large sum of money with cryptocurrency.
2. There's no way of tracking or tracing the funds directly to the owner of the wallet in real life.
3. It's actually a safe means of doing payment since you have no need carrying large sums with you.
I frown at number 2 and I ask if there's a way to link one's wallet to his or her real life address?
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