What type of Cryptocurrency is used in the Deep Web for transactions?

[Faxmate]

Bitcoin is the most used crypto in deep web for transaction

even there are many better privacy coins, but bitcoin is still the most for this case

IMF tells us about this case

A recent report by a leading crypto-payment analytic firm, Chainalysis, shows that Bitcoin transactions on the dark web grew from approximately $250 million in 2012 to $872 million in 2018. The firm projected that Bitcoin transactions on the dark web will reach more than $1 billion in 2019.

https://www.imf.org/external/pubs/ft/fandd/2019/09/the-truth-about-the-dark-web-kumar.htm

The dominance of Bitcoin is the reason why it is used widely in dark web. The anonymous altcoins also share the most used places in crypto transactions of Deep Web but the lack of transparency opens a hole in the underground which is main stage for entering another side of online world. The XMR, ZCASH are main payment gateway of the anonymous crypto transactions afaik.

Usage of crypto currencies in the dark web and deep web is free choice of hackers. Why am I just talking about hackers, because only they are smart enough to hide their digital marks efficiently. Bitcoin is the most expensive asset. It is also the best one when it comes to providing anonymity so it naturally becomes the first choice of hidden webs. Staying anonymous is most important for survival at such places.

[X-ray]

Bitcoin is the most used crypto in deep web for transaction

even there are many better privacy coins, but bitcoin is still the most for this case

IMF tells us about this case

A recent report by a leading crypto-payment analytic firm, Chainalysis, shows that Bitcoin transactions on the dark web grew from approximately $250 million in 2012 to $872 million in 2018. The firm projected that Bitcoin transactions on the dark web will reach more than $1 billion in 2019.

https://www.imf.org/external/pubs/ft/fandd/2019/09/the-truth-about-the-dark-web-kumar.htm

The dominance of Bitcoin is the reason why it is used widely in dark web. The anonymous altcoins also share the most used places in crypto transactions of Deep Web but the lack of transparency opens a hole in the underground which is main stage for entering another side of online world. The XMR, ZCASH are main payment gateway of the anonymous crypto transactions afaik.

The liquidity that's available is maybe one of reason why bitcoin is chosen and the fact that almost all people in the world know atleast ever heard of bitcoin that making it easy for them without the need of further explaining. I only hope that bitcoin is not being misused by some scumbag to do something illegal because that'd simply destroy the image of bitcoin although those people are only really small portion of bitcoin users. Those privacy coins also contribute to facilitates transaction I mean we actually dont really need true anonimity if we dont deal something illegal and I could imagine why many exchanges start to ban privacy coin.

[huige007]

Bitcoin is the most used crypto in deep web for transaction

even there are many better privacy coins, but bitcoin is still the most for this case

IMF tells us about this case

A recent report by a leading crypto-payment analytic firm, Chainalysis, shows that Bitcoin transactions on the dark web grew from approximately $250 million in 2012 to $872 million in 2018. The firm projected that Bitcoin transactions on the dark web will reach more than $1 billion in 2019.

https://www.imf.org/external/pubs/ft/fandd/2019/09/the-truth-about-the-dark-web-kumar.htm

The dominance of Bitcoin is the reason why it is used widely in dark web. The anonymous altcoins also share the most used places in crypto transactions of Deep Web but the lack of transparency opens a hole in the underground which is main stage for entering another side of online world. The XMR, ZCASH are main payment gateway of the anonymous crypto transactions afaik.

The liquidity that's available is maybe one of reason why bitcoin is chosen and the fact that almost all people in the world know atleast ever heard of bitcoin that making it easy for them without the need of further explaining. I only hope that bitcoin is not being misused by some scumbag to do something illegal because that'd simply destroy the image of bitcoin although those people are only really small portion of bitcoin users. Those privacy coins also contribute to facilitates transaction I mean we actually dont really need true anonimity if we dont deal something illegal and I could imagine why many exchanges start to ban privacy coin.

we can say that bitcoin is the first digital currency and has the highest value. It is also not very easy to track its transactions and find the owners. People who deal in dark and deep web are definitely like the common users of internet. They are the tech geeks and all of them chase money. It is only about money in that world. So bitcoin naturally become their medium for doing business.

[kevinzxz]

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

in my opinion the cryptocurrency used to conduct transactions on the Deep Web is Bitcoin, because I often read articles and watch about the Deep Web, then on average the articles I read and videos that I see about the Deep Web explain that they make transactions using Bitcoin, therefore I am sure that Bitcoin is a cryptocurrency used for transactions on the Deep Web.

[oscarftw]

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

I don't suggest you to visit those site for your curious. Those site are more dangerous than normal websites. This site are more secure if you are smart. There all people like privacy, so most of the people are using Bitcoin but now some are using Monero gold coin.

[Emitdama]

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

Anyone that want to purchase anything or make use of the deep web will make use of the privacy coin more because they are the ones that can really give full privacy protection aside the other top coins that are decentralized like bitcoin, which anyone can also use the chip mixer if they don’t want the transaction seen at all to the public for them to even try tracing it.

For privacy coins, I think that Monero is still the most active one, people use Monero a lot for this purpose and that is why when it comes to the king of privacy coin, it is Monero, but I think that in the future, the government might want to go after some of these privacy coins when the regulation starts and coins like Monero and the rest may really go into extinction leaving us with ones that can regulate.

[diazepam666]

We can find all the cryptocurrency using in Deep web so we cannot pinpoint one cryptocurrency and stamp the name that they wear only being used in the dark web markets.
If the person is doing illegal work on rustling kind of stoves they mostly referring to make the transaction using crypto valid and its platforms. This kind of issues has to be rided off and should allow dark web users to not make the transactions.

[taufik123]

The most common and widely used from the past for transactions on the deep web is BITCOIN. But after many altcoins appear, maybe payments can be made with altcoin such as ETH, XRP, DOGE and others. The goal is only one, so as not to be tracked by anyone and without a name.

[Emilyearl]

Moeo, Zcash, Xvg and other privacy coins are mostly used on dark webs not leaving Btc behind. Privacy coins are mostly used, Btc transactions can be traced when it's linked to a bank account or users of coin base whom has to be verified and approved before deposit or transaction. Privacy coins acnt be traced.

[arimamib]

The most common and widely used from the past for transactions on the deep web is BITCOIN. But after many altcoins appear, maybe payments can be made with altcoin such as ETH, XRP, DOGE and others. The goal is only one, so as not to be tracked by anyone and without a name.

I personally do not know about the deep web, I only see from the article that the transaction therein uses a lot of crypto, especially bitcoin. new insight for me, but I personally think again to visit the site

[nanaimogold]

You'd think that the privacy-focused coins out there are most used in the deep/dark web. XMR, Dash, ZCash, BEAM, etc. are the ones that come to my mind, but I think people are changing those coins to BTC as fast as possible just due to the fact they are shitcoins.. Or they might be just using BTC in combination with mixing services.

If that's the case for privacy coins, what truly then is their usecases. If I were a layman, I will choose Monero and Dash to be the favorite dark Web coins over bitcoin

[TastyChillySauce00]

The most common and widely used from the past for transactions on the deep web is BITCOIN. But after many altcoins appear, maybe payments can be made with altcoin such as ETH, XRP, DOGE and others. The goal is only one, so as not to be tracked by anyone and without a name.

I personally do not know about the deep web, I only see from the article that the transaction therein uses a lot of crypto, especially bitcoin. new insight for me, but I personally think again to visit the site

that's true but when so many people in deepweb aware if bitcoin doesn't provide good privacy for its users and they are all moving to the monero to get the best privacy to make their transaction becomes untraceable. Some parties have already made a reliable article about that.

[yg10]

From my experience with dark web markets, three most popular coins there: Bitcoin, Litecoin, Monero.

[Hallmader]

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

The deep web is the most anonymous and private part of the web. Identities are hidden there more than anywhere else because the transactions could involve the most illegal transactions in the world. And with this, they are also using the most private cryptocurrencies out there. I guess Monero (XMR) tops all privacy coins right now. Other big names include Dash and ZCash. But of course other altcoins and Bitcoin are also acceptable. 

[thisnewcoin]

Bitcoin is very commonly used in the dark web but due to the high transaction fees, some others prefer to use altcoins. Like Monero, Ethereum, Litecoin, Bitcoincash, and Dash. But Litecoin has emerged as the second-most popular cryptocurrency that being used in the Darkweb.

See this link, https://www.investopedia.com/news/litecoin-gains-ground-bitcoin-dark-web/


As we can see, Litecoin has gained 30% that has made transactions in the Darkweb aside from Bitcoin that mainly use.

Wow! I thought Monero is the most used cryptocurrency in the dark web then Bitcoin cash! I had no idea about Litecoin's popularity in this section! And again it proved Bitcoin is failed as a payment method because of the high transaction! I forgot when I last withdraw my asset in Bitcoin because of this high fee issue!

[TheClownSong]

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

Bitcoin is the most widely used currency on the deep web. Bitcoin is used because it is a pioneer in peer to peer transactions and is also easy to liquidate by its users. Maybe now there are a lot of crypto used, but bitcoin is still the most popular

[Burogh]

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

The deep web is the most anonymous and private part of the web. Identities are hidden there more than anywhere else because the transactions could involve the most illegal transactions in the world. And with this, they are also using the most private cryptocurrencies out there. I guess Monero (XMR) tops all privacy coins right now. Other big names include Dash and ZCash. But of course other altcoins and Bitcoin are also acceptable. 

I think bitcoin is still the most popular use on the dark web for transactions because of its large liquidity level. Monero is a crypto that is also in demand because of the anonymous factor which is quite good but you should be careful when you want to visit the dark web

[andika2018]

From my experience with dark web markets, three most popular coins there: Bitcoin, Litecoin, Monero.

Agree, the three most popular coins are used for transactions. Bitcoin because of popularity and monero due to good anonymous factors. There are indeed several other altcoins that are used but it doesn't seem to be used too often for transactions.

[Kersh768]

I know that the deep web mainly uses cryptos as a means of transactions for people who want to buy things over there, but what type of cryptos are mainly used when making those transactions? It’s just a curious question I have in my mind.

I am not sure if this is all but as far as I've experienced, the cryptocurrencies being used are Bitcoin, Ethereum and Ripple. Maybe there are other cryptos being used but I am not surprised that these coins are being used because there are the huge names in this industry which is enough for people to trust using it. Other people are mentioning other coins but by far experience, these are all that I know.

[LargoCoin Foundation]

I was recently surprised when I asked why don't all the deep web stores use Ethereum as a faster and smart-contract-capable alternative to BTC.
The answer was: "There isn't enough volume, dude "
This was the moment I realized how huge the deep web markets are. They actually need the BTC's volume to be sustainable, and ETH's volume is not nearly enough for them