Topic: What type of Cryptocurrency is used in the Deep Web for transactions? - page 5. (Read 785 times)

I have not made any personal transactions within the deep web of the internet but i have read that it basically bitcoin and ethereum that are mostly used. But making transactions within the deep web is risky and i would advise you stay away from them before you lose your cryptocurrencies to some scammers.

I think there are many cryptocurrency that can be used for transactions in such places, and I think bitcoin is a digital currency that is used for transactions between buyers and sellers because bitcoin can be used for such transactions so it does not use USD or other money for transactions with bitcoin it will be easier and more efficient.

I feel like the use of cryptocurrency on the black market to do all the illegal transactions has played a big role in the bad idea and vision that many people have on it, especially from the media which creates movies and stories about hacking and breaking the law using bitcoin, it is true that on the black market you could use any of the top cryptos on the market to buy services and things that are shady to say the least, but you could do that using fiat and you will get away with it, in our current time every system could be abused and used for the wrong reasons so it makes no difference.

I'm not entirely sure what are the tokens have been used in deep web since I got no access on it but thanks for this information. We all know that Bitcoin is hundred percent being use in this kind of transaction but make me wonder is why Litecoin? Probably because it has low transaction fees, faster processing compared to Bitcoin and can be stored in offline as well. Accoding to investopedia, way back 2017 Monero, Ethereum and Bitcoin are the token preferably use by folks in the deep web market, now is Litecoin, it seems the coins being used in this transaction are changing every year.

Wouldn't it make sense to use only the privacy coins on dark web ?
This is interesting data because i though people should have used XMR or other privacy coins more on dark web making it even to difficult to track the transactions.

That is even more than I thought, will people continue to make exceptions for these two coins ?
We know that bitcoin is an anonymous, decentralized and un-centralized currency so most people will consider it to be a very useful currency and will leave other altcoin types to make transactions.
In my opinion, this is a useful adoption for bitcoin, its capacity as a currency is maximized on various types of transactions.

I think there is a reason why bitcoin criminals can be found, and that cannot be separated from the rules that have been applied by the government for exchange. Bitcoin will remain anonymous as long as criminals do not convert them into fiat currency somewhere or exchanges that require users to complete KYC.

Maybe before the alts became popular and been tested to have low transaction fees and more effective in terms of security  and much privacy than bitcoin since transactions can be traced. I was once curious in deepweb but when someone told me that they can track my IP or location they can target me to hack back in College days so I never get curious again.

A lot of the people that care a lot about privacy are using DASH and XMR, since they are 100 percent the safer option compared to other coins that have a open ledger for transactions.

However, a lot of people don't know about them and are under the impression that they are shitcoins, so they will use BTC mostly since it provides a level of anonymity and also is much more convenient to use than other options, and usually since they are frequent users, it makes their lives a lot easier.

I thought the deeponion is also being used there. I'm not sure if there are merchants in out country that sells stuff in dark/deepweb right now but the last time I tried visiting there was none. There would be 3rd party escrow I guess or  smartcontract when making transaction I guess in deepweb. If LTC is mostly used in deepweb the fact that they don't have privacy feature, there would be no need for privacy coins why create one?

in my opinion they use crypto which is already popular, bitcoin, ethereum, litecoin, monero, and other popular crypto, because crypto which is already popular has many users and is easily disbursed.

When compared to Bitcoin, Monero has been of greater interest to the people using cryptocurrency in the deep web transactions quite often. XMR is based on cryptonote technology and can be used as a completely anonymous currency while bitcoin is transparent and can be used to track on a wider sense. I was once visiting deep web regularly (way back in 2016) and majority of the dark websites have been using bitcoin back then. But after the 2018 pump on majority of the coins, monero, litecoin and dash are being used in a far majority while considering with bitcoin.

Stealth Addresses, Ring signatures and transactions are one of the well known tech which were adopted by monero to make the transactions between the users private and anonymous.

Litecoin is more or less a popular fork of bitcoin with mining algorithms, confirmation times and total circulation being the only major difference between the two. Whereas Monero and Dash are far more different from bitcoin AFAIK. Not sure why Dark web users prefer using LTC instead of XMR  

@OP this topic fits better in Altcoin Discussion rather than Bitcoin Discussion

Tor was initially created to protect USA communications but it has taken a far bigger picture than it has intended to be   You could access non-indexed web pages and more importantly the .onion URLs by staying anonymous. Your IP gets connected to a TOR entry Node which further connects to another middle relay node and thereby finally reaching the exit node. The exit node will contact server and get back to you with the desired information. While I was using TOR I was very much concerned about my privacy since any wrong doings or downloading malicious content from any of the non-indexed sites will get you into serious troubles of self-doxxing yourself. I own a raspberry pi and have Kali Linux installed with it and subsequently use TOR. Visiting hidden wiki will help you get started with accessing various hidden dark websites.

Well if you need to stay truly anonymous you could use TOR but accessing any of the hidden sites very often will get you into unnecessary troubles in future.

i think most people are answering this topic emotionally. the fact is we don't have any decent stats to say for sure all we can say is speculation and some small observation.
bitcoin used to popular a couple of years ago specially during Silk Road time. this is the time that many still mistakenly though bitcoin were anonymous. but as they became more aware of the reality and as some criminals were caught, everyone caught on to the fact that bitcoin is not anonymous so they went back to the methods they were using before bitcoin came alone.

the stats by investopedia doesn't look correct either specially as LTC is reported to have the highest percentage and monero the smallest! that doesn't even make sense as monero is the only decently anon coin that we have.
other coins such as ethereum and ripple aren't even considered currencies by anybody to be used for anything other than trading.

Deepweb is where fake items are sold, fake credit cards, fake Rolex, fake phone fake computer fake drugs fake PayPal account fake steam library credit, fake gun, fake cop, fake news, fake zero day exploit, fake hackers, and I think fake crypto too, I think they accept fake money too, now you do like to know what is fake money.

The dark web does intrigue me to be honest but I wouldn’t have any idea how to access it. Does anybody have any experience of it?

I presume you use Tor but what do you even search for, how do you access it?

I have heard before that the deep web basically uses bitcoin to transact, but as the crypto world developed, most of them now use altcoin or other shitcoin like Eth, Dash and Monero between three coins. I think those who are far away on the web prefer to use Monero on the black market because coin privacy, traceability, and Monero transaction costs are generally relatively low, so far it has been estimated to have reached 34k crypto theft.

btc for sure. the hardest to track and at the same time the safest for transactions for some types of activities

deep web people use a lot of different ways to transfer money and only a small part of it is going through cryptocurrencies. methods such as cash, gift cards, and even banks are common.
as for cryptocurrencies like everywhere else bitcoin is the first currency and then because of the demand for anonymity it is Monero and probably used even more than bitcoin.

I don't use deep web regular and didn't buy anything till now. sheenshane already posted an image which crypto most use in deep web.Actually It depends on site.Few site's only accept btc,ETH,LTC,XMR.But many sites accept top rated crypto.like BNB,NEO even I saw a site that accept dogecoins.Some sites only accept only bitcoin.People using bitcoin in dark web very less.Because of trx fee and trx time.

Bitcoin has always been a mode of payment in deepweb. I heard Bitcoin first with involvement to deepweb, which signifies its widespread use on activities there, however, since deepweb's anonimity, most activites conducted here are illegal. Which impacts Bitcoin's image to public and people have already associated Bitcoin with illegal acts, which is far from Bitcoin's original purpose.

I don't know much about the dark web, but it was interesting to read. It may seem a stupid question but maybe someone helps me to understand.
Theoretically, if a user wants to trade coins he earned in the dark web, would it be correct to hold it during the transaction in case if a user can't prove it was earned legal? Does this kind of action from trading platforms/exchange clear the whole market in anyways?