Which currencies are suitable for money laundering? - page 3.

palle11

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Quote from: cryptoaddictchie on August 25, 2021, 11:45:51 PM

Quote from: jiguang on August 25, 2021, 10:37:22 PM

Which currencies are suitable for money laundering?

This question quite scary. Any crypto can be used om money laundering.

It is not scary to me but funny. I think in terms of fiat, it could be the currency of high volume in exchange. Like the foreign currency such as US$, pounds and Euro. Many times I have heard of money laundering, it is always in those currencies and not in local currency because the value is small in exchange for the above currencies. Politicians take out money or embezzle public money by converting plenty of the local currency to few currencies with high exchange rate. However I have not heard of money laundering on cryptocurrency except scamming and that is quite different from money laundering.

mk4

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Quote from: ?? on ??

I agree, I was about to say Monero. But I think there are some speculations I think from US government they say that they can still track users that using Monero but I doubt it probably they just wanted users not to use such coins since it can really be used to do money laundering.

If they actually could(though I doubt it), it definitely wouldn't be easy.

Quote from: ?? on ??

I really don't like to use P2P or mixers, the fee sucks.

Fees on P2P exchanges are pretty reasonable. As for mixers, some mixers like ChipMixer are free(besides tx fees) as they use the "pay what you want" model.

pooya87

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You can't launder money with "money" you launder money by running the dirty money through a legitimate business to make it look "clean". In that process the form of money doesn't matter that much and if tracing is important then cash is the only form of money that doesn't leave any traces behind.

Keep in mind that there is a big difference between "laundering" and "improving privacy". In the later you aren't doing anything illegal and it is your right to have privacy but in the former you are doing something illegal.

michellee

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Quote from: jiguang on August 25, 2021, 10:37:22 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,

When you use crypto, you hide your details such as name, address, etc., and in the transaction, people could only see the transaction you made. You can use bitcoin, monero, ethereum, or others but that is about how you can use all of the coins for your benefit. For example, you can send A coin to another wallet, and in that wallet, you convert it into other coins and send it to the other wallet or even exchanges like what @mk4 suggests. That way may be too complicated for you but that can hide you.

checkmatesir

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I know about Monero that is anonymous and except that i didn't have much information, you can search about them in other websites but talking about the Monero in which your IP is not anonymous, just like other currencies they can find you easily, which is an effective step for them.

Baofeng

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Quote from: jiguang on August 25, 2021, 10:37:22 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.

mindrust

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Quote from: jiguang on August 25, 2021, 10:37:22 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,

Nobody is fully anonymous on the internet. If they want to find you, they will find you.

Almost all exchanges require KYC. Monero is anonymous but your IP is not. You can use a VPN but they can ask your information from the VPN company.

Don't do silly things on the internet.

cryptoaddictchie

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Quote from: jiguang on August 25, 2021, 10:37:22 PM

Which currencies are suitable for money laundering?

This question quite scary. Any crypto can be used om money laundering. It can be called like that if you can explain your funds when someone centralized (bank) ask you where you grt the fund and you cant give them such proof of employment or earnings from a business. Theres a lot doing money laundering and too bad crypto has been by some people especially those hackers and scammers.

mk4

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I'm going to assume you're not some low-life PoS(not proof of stake) that's just planning on getting away with stolen money.

1. Physical cash
2. Monero (obviously)
3. Bitcoin, when you use mixers or coinjoin platforms, and assuming you don't mess up your coin control[1]

As for exchanges, use no-KYC peer-to-peer exchanges such as Bisq[2], HodlHodl[3], and LocalCryptos[4].

[1] https://nopara73.medium.com/coin-control-is-must-learn-if-you-care-about-your-privacy-in-bitcoin-33b9a5f224a2
[2] https://bisq.network/
[3] https://hodlhodl.com/
[4] https://localcryptos.com/

jiguang

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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,

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