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Author Topic: What type of Cryptocurrency is used in the Deep Web for transactions?  (Read 660 times)
ampu
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November 22, 2019, 03:53:40 PM
 #101

There are also other anonymous currencies like Deep Onion, Zcash but these may not be as popular as other cryptocurrencies.  The fact that Bitcoin and Moreno are popular and long-standing cryptocurrencies so I'm not surprised they are used a lot on the deep web.
my guess is that people there are considering the liquidity of certain coins to minimze the value fluctuation thus chosen Bitcoin which has known to be the most adopted coin and have the biggest liquidity while in the other hand monero is anonymous though the liquidity is just sufficient. But, I always wonder whether those people in the deep web are making their own altcoin aswell since the deployment is quite simple if using an already existing smart contract platform. That actually makes sense and have the possibility since making their own currency that is not know to the public could lead to lesser attention.
If you look closely, they already have their own coin, the Deep Onion.  This cryptocurrency project is supported by many coders but also cannot escape the exchange manipulation.  Although the liquidity of this crypto is not good, it is technically very anonymous.

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November 23, 2019, 03:20:47 PM
 #102

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.

It's true that deepwed is commonly uses cryptocurrency to make transactions to buy things that you can only get from deepweb. The cryptocurrency that they used to make transactions are bitcoin, ETH, XRP, and so on because these coins is popular and it has a good value.

Honestly, it is also the reason where my friend started to know about bitcoin and other cryptocurrencies through the used of deepweb, which he knows that he can earn money from investing to it.
Deep web is the legal part and things you can buy from there are available on surface web too. It is dark web that is a bit different, a place where all the dark buying and selling takes place. Definitely, not something to visit or even think about. Crypto currencies are decentralized and this is the major reason why these are used there. But the value also matters. Bitcoin is used the most due to its worth.

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November 23, 2019, 03:55:47 PM
 #103

I think in using deep web transactions and for buying online transaction we always used bitcoin or eth because all we know that those coin are the most popular and most progressive coin here in crypto world so people always trust and comfortable to use those coin in online transaction or even in short or long term investment.

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November 23, 2019, 05:25:45 PM
 #104

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.


That's would be Bitcoin owing to its prominent nature, although ETH is used to owing to its faster transaction rate. But that doesn't mean other cryptocurrencies aren't used, it all depends on the website and their preferences, then on you the customer and the coin you can lay your hands on or the cryptocurrency which is readily available to you at the moment.

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November 23, 2019, 06:09:34 PM
 #105

In the deep web, it's mostly bitcoin that is used but it all just basically depends on the merchant, who remembers the silk road scandal? It was mostly bitcoin but we have to admit that times has changed and some alts are being used these days like ethereum but Bitcoin is still the dominant cryptocurrency there because it's much easier to convert to cash in many countries in the world than any other Cryptocurrency.
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November 23, 2019, 07:12:05 PM
 #106

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.
Those of them that are serious with privacy will be making use of coins like Monero and Zcash since those coins provide more privacy than most other cryptocurrencies there is. But Bitcoin is more popular and a lot of people make use of Bitcoin than any other coin there is, I hardly see anyone mention anything if not Bitcoin and sometimes Ethereum. So the main coins they will be using there is Bitcoin and Etheruem, and those that have Monero and Zcash will also like to do transactions with it.

So, when it comes to which coins are more popular, you have Bitcoin and the Ethereum, and when it comes to privacy you have Monero and Zcash. If there is any other, then I'm not aware of it.

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November 26, 2019, 05:12:07 PM
 #107

In the deep web, it's mostly bitcoin that is used but it all just basically depends on the merchant, who remembers the silk road scandal? It was mostly bitcoin but we have to admit that times has changed and some alts are being used these days like ethereum but Bitcoin is still the dominant cryptocurrency there because it's much easier to convert to cash in many countries in the world than any other Cryptocurrency.
Bitcoin is the most used cryptocurrency in the world but when it comes to the deep web and darknet site the crypto people used mostly are Monero with the inclusion of other privacy coins. Although, we have a situation where people use bitcoin but the payment is done through genuine tumbler site or wasabi wallet.

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