Which currencies are suitable for money laundering? - page 2.

topbitcoin

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Quote from: jiguang on August 25, 2021, 11:37:22 PM

Which currencies are suitable for money laundering?

For example, dirty transactions, I don’t want to be known by others about what I bought and how much money I spent, and I can’t track it.

Can you recommend some currencies and exchanges that do not require KYC? At present, I only know that Monero is highly anonymous,

I think there are some market that not ask us to do KYC yet, like Hotbit maybe or Yobit. And there are some gambling sites that maybe can help to mix transaction like 99dice, if me not wrong they will send from their hot wallet address and not user's address.

maju69

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Even in the eyes of bankers all crypto including money laundering, nothing is excluded. if you are a worker at a bank then when someone takes money from crypto trading results, it must be quite terrible where that person has harmed the bank because they have done money laundering from crypto which is absolutely worthless, what makes it valuable is a group of people which then sets a certain rate on the crypto price. As time goes on crypto lovers increase and make you even more clueless as to why many people have money without having to work (work in the real world) only with coins that they name and then trade.

That's what makes me feel good about crypto, it makes bankers even more dizzy.

zahed

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Quote from: jiguang on August 25, 2021, 11:37:22 PM

Which currencies are suitable for money laundering?

For example, dirty transactions, I don’t want to be known by others about what I bought and how much money I spent, and I can’t track it.

Can you recommend some currencies and exchanges that do not require KYC? At present, I only know that Monero is highly anonymous,

I know about 2 (two) coin are full of anonymous Dash and Monero. You're planning to money laundering ? whether you do not have to eagerness. Centralized exchanges will requiring kyc here you can not anonymous transaction. Dex is kycless but not sure how safe to anonymous transaction.

zanezane

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Quote from: rhomelmabini on August 27, 2021, 01:20:58 PM

Seems like just a curious George to me and but still an alarming one because even if he didn't post/asked it here he'll still find a way just by searching it on search engine sites. I wonder what's the OP's agenda but as I said maybe he's just that curious on the know-how of that. Seems not the kind of post here for Trading Discussion though.

We don't know about that though, you know that being curious can be a good excuse to ask something illegal, I mean you can't ask people on how to access child porno sites just because they said they're curious, it's your moral and legal obligation to not tell them about it because it's illegal and deplorable.

rhomelmabini

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Quote from: Kittygalore on August 27, 2021, 12:48:01 PM

That's a big red flag OP, you don't ask those kinds of question in a public forum unless you're just curious or you're really a money laundering wannabe and you want to learn how to launder money using cryptocurrency, I think people have already failed not to teach OP any way to launder using cryptocurrencies.

Seems like just a curious George to me and but still an alarming one because even if he didn't post/asked it here he'll still find a way just by searching it on search engine sites. I wonder what's the OP's agenda but as I said maybe he's just that curious on the know-how of that. Seems not the kind of post here for Trading Discussion though.

Kittygalore

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That's a big red flag OP, you don't ask those kinds of question in a public forum unless you're just curious or you're really a money laundering wannabe and you want to learn how to launder money using cryptocurrency, I think people have already failed not to teach OP any way to launder using cryptocurrencies.

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Quote from: 24Kt on August 26, 2021, 07:53:38 PM

Quote from: lalabotax on August 26, 2021, 07:47:33 PM

I am wondering what transaction you're going to do. But that is your own decision.
Commonly people will use Bitcoin mixers in order to make the transaction or Bitcoin is anonymous and we cannot tract them.
And have you ever tried a DEX that doesn't need any KYC? But that is also quite risky to take it.
Btw, the term "money laundering" is something bad. Do you really do that or you only want your transaction is in secret?

Wow, at least he is very direct on what he wants to ask here. But with platforms which don't require KYC as well as DEXs, there are a lot of options to take. Now, it is up to him how he can utilize those services to his own advantage. We can't deny the fact, that right now, some are really into crypto for the intentions of doing such money laundering scheme.

He's so bold because he is using a new account and doesn't risk anything. It's similar to how people accuse casinos and sportsbooks after losing money with new accounts.

The harsh reality is that unless you follow every step with extreme caution, cryptocurrency transactions can still be tracked quite easily. If even you use mixers and decentralized exchanges, one can still estimate where the coins were sent. This is why most mixers allow you to set time delays.

At some point, you need to cash your coins and that is where most cheaters are caught. You can evade being tracked on the blockchain but when you sell it for fiat, you need to reveal your identity or bank account.

cryptoaddictchie

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Quote from: palle11 on August 26, 2021, 08:16:22 AM

However I have not heard of money laundering on cryptocurrency except scamming and that is quite different from money laundering.

If you cant explain where did you get your crypto funds from a centralized insitution like bank. Its already considered money laundering. Whatever reason you say as long you cant justify your funds then that term applied already regardless what reason you may deemed explained to them. Even though we get it from profits on trading, they need documents showing that gains or else they could hold your fund without a valid explanation.

RokokGudangGaram

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All coins, all you have to do is to find a an exchange site where you can trade this coins to other currencies of course you are going to choose exchange site that wouldn't ask for KYC and also you can try some gambling sites where they have built in exchange but the fee is a little bit expensive so maybe you should stick with exchange sites.

Zilon

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Hope you aren't seeking to make away with someone's effort. I'm actually not comfortable with this thread not as if I am trying to criticize but it looks suspicious. But for the benefit of knowledge I will suggest:

Bitcoin cash
stellar coin

Cling18

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I hope that you're not committing dirty transactions but if you want to hide your personal details and want to keep your transactions untrackable, any form of crypto would be fine as long as you would use an exchange without KYC. You can also use Monero for anonymous transactions. Things will still depend on how you're going to transact safely.

24Kt

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Quote from: lalabotax on August 26, 2021, 07:47:33 PM

I am wondering what transaction you're going to do. But that is your own decision.
Commonly people will use Bitcoin mixers in order to make the transaction or Bitcoin is anonymous and we cannot tract them.
And have you ever tried a DEX that doesn't need any KYC? But that is also quite risky to take it.
Btw, the term "money laundering" is something bad. Do you really do that or you only want your transaction is in secret?

Wow, at least he is very direct on what he wants to ask here. But with platforms which don't require KYC as well as DEXs, there are a lot of options to take. Now, it is up to him how he can utilize those services to his own advantage. We can't deny the fact, that right now, some are really into crypto for the intentions of doing such money laundering scheme.

lalabotax

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I am wondering what transaction you're going to do. But that is your own decision.
Commonly people will use Bitcoin mixers in order to make the transaction or Bitcoin is anonymous and we cannot tract them.
And have you ever tried a DEX that doesn't need any KYC? But that is also quite risky to take it.
Btw, the term "money laundering" is something bad. Do you really do that or you only want your transaction is in secret?

ccFOUND

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We know of Dash to help you make anonymous transactions.
If you are not telling people what did you buy, we will start assuming it and it's not hard to say that you either bought drugs or deadly weapons. Some users claimed that cash can be the best option for you but even that can be traced if some official knew about you and your deeds from close.

carlfebz2

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Quote from: jiguang on August 25, 2021, 11:37:22 PM

Which currencies are suitable for money laundering?

For example, dirty transactions, I don’t want to be known by others about what I bought and how much money I spent, and I can’t track it.

Can you recommend some currencies and exchanges that do not require KYC? At present, I only know that Monero is highly anonymous,

Zcash
Monero
Dash

You can also check out on this list: https://www.investopedia.com/tech/five-most-private-cryptocurrencies/

Fully anonymous and cant really be traced up.

DarkDays

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Quote from: Baofeng on August 26, 2021, 01:56:33 AM

Quote from: jiguang on August 25, 2021, 11:37:22 PM

Which currencies are suitable for money laundering?

For example, dirty transactions, I don’t want to be known by others about what I bought and how much money I spent, and I can’t track it.

Can you recommend some currencies and exchanges that do not require KYC? At present, I only know that Monero is highly anonymous,

I don't want to used to term money laundering, but if you wanted to hide your tracks then you can used BTC, but used mixer and other tumbling services out there.

Monero is another one, you can look at other privacy coins that will provide anonymity in your transactions + Tor.

Obviously, Monero is the top coin for this kind of thing but I like to think that this is for your own personal protection and not because you've been up to something dodgy.

I would also advise that while Monero might seem like to go to option, it may also become the most tractable coin in the future to prevent fraudulent activity, so looking at alternatives might be another option.

BitMaxz

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Block halving is coming.

If you are going to choose monero you still have a record on exchanges unless if you buy monero on no KYC exchange.
And take note you would still need to set up your wallet with Tor to be fully anonymous. Read this monero documentation about how to set up it with tor

Grin would be also an alternative as suggested above this would be a good sample to become anonymous no transaction records even you buy them on no KYC exchange the next transaction would be fully anonymous.

The same goes for Beam the only problem with this coin is that if you don't have a backup wallet file even you have a backup seed/private key there is no way to recover your old addresses.
Unlike Grin coin the transaction will be generated into a file that you can upload or send to someone.

Both Grin and Beam support Dandelion++ which is best if you want to hide your IP and they also support I2P/Tor. It seems Monero also implemented Dandelion last April?

hugeblack

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Monero, Grin, Dash (Many people question the accuracy of this information.)
So unless you know how to hide your identity, using above coins will give you a false sense of security in addition to you breaking the law by laundering money, which means that any mistake means that you will go to prison.
Without technical knowledge, knowing how to hide your identity, use Tor, etc., you will not get 100% anonymity, but Monero is one of the serious projects that focus on privacy.

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Quote from: jiguang on August 25, 2021, 11:37:22 PM

For example, dirty transactions, I don’t want to be known by others about what I bought and how much money I spent, and I can’t track it.

This means you've done something illegal.
If you do this, you give other people your dirty money.
If you do this, you can create problems to others.
If you do this, you give a bad name to crypto.
And then.. why would the community help you?!

SquirrelJulietGarden

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Quote from: jiguang on August 25, 2021, 11:37:22 PM

Which currencies are suitable for money laundering?

Monero is the best but there are a few more good private coins
Five most private cryptocurrencies:
1. Monero
2. Zcash
3. DASH
4. Horizen
5. Verge
6. Beam

Quote

Can you recommend some currencies and exchanges that do not require KYC?

Bisq is the best. Decentralized, no KYC but the disadvantage is low trading volume.

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