Why criminals prefer cash (Fiat) on top of crypto?

[FlightyPouch]

I disagree with the opinion on the topic. Professional criminals prefer cryptocurrency to cash. If you look at Deepweb, you will see that many illegal things are made with cryptocurrency. Since the rate of cryptocurrency usage is low in the world, this rate also seems to be low in criminals. However, I think, it is much more than estimated.

It is true that there are criminals that prefer bitcoin or other crypto currencies as payment but if you will be asking me, I think the notorious ones prefer fiat to bitcoin or other crypto currencies. Online, most of the time use cryptos since online transactions can be tracked, but bitcoin can also be tracked. That is why some prefer to pay offline since fiat can be used anywhere, they are not limited to use and they are untraceable.

[Wallflower28]

I disagree with the opinion on the topic. Professional criminals prefer cryptocurrency to cash. If you look at Deepweb, you will see that many illegal things are made with cryptocurrency. Since the rate of cryptocurrency usage is low in the world, this rate also seems to be low in criminals. However, I think, it is much more than estimated.

It is true that there are criminals that prefer bitcoin or other crypto currencies as payment but if you will be asking me, I think the notorious ones prefer fiat to bitcoin or other crypto currencies. Online, most of the time use cryptos since online transactions can be tracked, but bitcoin can also be tracked. That is why some prefer to pay offline since fiat can be used anywhere, they are not limited to use and they are untraceable.

They can easily penetrate in using fiat than cryptocurrency. I think it is not literally trackable the transaction since we are anonymous when we use cryptocurrency. But there are still way to track a certain address due to the blockchain technology which records the past transaction of the coin we used. Well, fiat can`t be tracked easily because you can hide it anywhere. You can use it also in any part of the world specially if you have dollars. I never know how criminals did to their scam money but I am pretty sure that they are good in hiding their money.

[FlightyPouch]

I disagree with the opinion on the topic. Professional criminals prefer cryptocurrency to cash. If you look at Deepweb, you will see that many illegal things are made with cryptocurrency. Since the rate of cryptocurrency usage is low in the world, this rate also seems to be low in criminals. However, I think, it is much more than estimated.

It is true that there are criminals that prefer bitcoin or other crypto currencies as payment but if you will be asking me, I think the notorious ones prefer fiat to bitcoin or other crypto currencies. Online, most of the time use cryptos since online transactions can be tracked, but bitcoin can also be tracked. That is why some prefer to pay offline since fiat can be used anywhere, they are not limited to use and they are untraceable.

They can easily penetrate in using fiat than cryptocurrency. I think it is not literally trackable the transaction since we are anonymous when we use cryptocurrency. But there are still way to track a certain address due to the blockchain technology which records the past transaction of the coin we used. Well, fiat can`t be tracked easily because you can hide it anywhere. You can use it also in any part of the world specially if you have dollars. I never know how criminals did to their scam money but I am pretty sure that they are good in hiding their money.

As far as I know, that huge money that they got from scams or maybe to other crimes like corruptions are being laundered for example in casinos or most often bank smurfing as they call it. I think it is better for these criminals to launder the money or maybe save them rather than putting the bitcoins they've got in a mixer.

[smyslov]

Fiat is easy to dispose of and many criminals are not tech-savvy to convert their fiat to Cryptocurrency they think that they will be caught if they are average internet users against authorities who are tech-savvy in tracing criminals, criminals who work offline prefer fiat, hackers who work online prefer Cryptocurrency because of their anonymity.

[n0ne]

People turn to be criminals by compulsion/situation. The root cause will be the poverty, and those people don't have anything to think big. Later the same person gets into criminal activities with better knowledge, this is where people get into tech related criminal activities. People are used to cash, and the same continues.

Cryptocurrency and other forms of transaction involves, when tech and hackers get into criminal activities. According to data from different analysis, the usage of fiat in crime and illegal needs were high in comparison to cryptocurrencies.

[Janation]

Bitcoin, actually, got its popularity thanks to not quite honest people in this world who used Silk Road!
And still remains the number 1 currency in Darknet... Not Monero, not fiat, just Bitcoin!

So true.

Without these people I don't think Bitcoin will be as popular as it is right now. They are the ones making transactions in these illegal sites generating more transactions making Bitcoin popular. There are other things that people did to make Bitcoin popular, one of them is the 10000 bitcoin pizza.

[GeorgeJohn]

From my perspective it's seems that it's very rigid for criminals to operates with cryptocurrency because crypto is not centralized, and is not something someone can touch, feel with hand, or something arm rubbers can stop because no one convey cryptocurrency especially Bitcoin.
 
But in (Fiat ) criminals are interested, to obtain who ever holding Fiat because Fiat, it's visible,accessible and also centralized to all over the world.

But another set of people acts as criminals in another dimension via cryptocurrency, it's those people we prefer as people who commit cyber crimes such as hackers and scammers towards cryptocurrency, Such is another method of criminals in cryptocurrencies.

[fullhdpixel]

I disagree with the opinion on the topic. Professional criminals prefer cryptocurrency to cash. If you look at Deepweb, you will see that many illegal things are made with cryptocurrency. Since the rate of cryptocurrency usage is low in the world, this rate also seems to be low in criminals. However, I think, it is much more than estimated.

It is true that there are criminals that prefer bitcoin or other crypto currencies as payment but if you will be asking me, I think the notorious ones prefer fiat to bitcoin or other crypto currencies. Online, most of the time use cryptos since online transactions can be tracked, but bitcoin can also be tracked. That is why some prefer to pay offline since fiat can be used anywhere, they are not limited to use and they are untraceable.

It all depends on the type of criminals as you cannot expect kidnappers to ask for bitcoins as they are not aware how it works and if even they are aware they don't know how it works and imagine someone tricks criminal by sending zero fees transaction and later double spending it and fooling the kidnapper or criminal so it is not easy for them and they demand cash because they usually have a tendency to share that cash among each other and not everyone uses bitcoins or cryptocurrency.

Another problem is like you said being tracked because one who is not careful can easily be tracked as they spend their coins one can track where it goes and so on until the final destination is noted.

[Abiky]

Fiat is easy to dispose of and many criminals are not tech-savvy to convert their fiat to Cryptocurrency they think that they will be caught if they are average internet users against authorities who are tech-savvy in tracing criminals, criminals who work offline prefer fiat, hackers who work online prefer Cryptocurrency because of their anonymity.

Exactly. Fiat is so much easier to use than crypto itself. Not to mention, cryptocurrency transactions can be easily tracked by the authorities (except for privacy-oriented coins like Monero or Grin). Criminals would need to be tech-savvy enough to be able to use crypto properly for their nefarious actions. I'd bet they wouldn't waste their time trying to understand how crypto works and how to use them for their own benefit. After all, crypto is not as widely accepted as Fiat is for mainstream payments. Most merchants and businesses accept Fiat on top of crypto, giving criminals no choice but to continue using physical cash for all their bad deeds. There's nothing we can do about this, since crypto is just starting to blossom. The alternative financial system powered by Blockchain technology (crypto) has a long way to go before it can catch the attention of criminals in the mainstream world. Criminals will dive into the decentralized economy once prices become stable, cryptocurrencies focus themselves on privacy, and a wide variety of merchants and businesses accept crypto as payment method.

Nonetheless, I think it's best for criminals to distance themselves from the crypto/Blockchain industry as much as possible. This will allow governments to recognize crypto as legal tender. As a result, the growth of the industry will be accelerated like never before. Otherwise, you could expect massive crackdowns from mainstream governments in order to stifle crypto's growth worldwide. As long as crypto goes hand-in-hand with the government, everything will be fine. Just my opinion

[South Park]

I disagree with the opinion on the topic. Professional criminals prefer cryptocurrency to cash. If you look at Deepweb, you will see that many illegal things are made with cryptocurrency. Since the rate of cryptocurrency usage is low in the world, this rate also seems to be low in criminals. However, I think, it is much more than estimated.

It is true that there are criminals that prefer bitcoin or other crypto currencies as payment but if you will be asking me, I think the notorious ones prefer fiat to bitcoin or other crypto currencies. Online, most of the time use cryptos since online transactions can be tracked, but bitcoin can also be tracked. That is why some prefer to pay offline since fiat can be used anywhere, they are not limited to use and they are untraceable.

Another option to consider is that while there is no sure way to know the full size of criminal activities in monetary terms we know that market is huge and most likely it is many times bigger than all the market of cryptocurrencies put together, which means that even if criminals wanted to use this market to hide their crimes there is simply not enough interest in this market to justify those actions and as such even if many criminals wanted to do something like that they refuse to do so knowing the market is not big enough right now.

[justdimin]

This is a very interesting topic and actually why criminals prefer cash is because of two reasons mainly a) Because criminals are not educated b) is it easy to spend cash

Now if we take a look at the cyber scams we will notice that the cyber criminals actually ask bitcoins as the extortion money because they know no one operates bitcoins like if they accept Paypal the authorities will easily catch them hence they use bitcoins. So, the direct relation of criminals not accepting crypto is because they are not educated enough while the educated criminal will always prefer bitcoins instead of cash because accepting cash can be problematic for them like police can chase them and catch them but accepting crypto payment eliminates this risk for them.

[taufik123]

From my perspective it's seems that it's very rigid for criminals to operates with cryptocurrency because crypto is not centralized, and is not something someone can touch, feel with hand, or something arm rubbers can stop because no one convey cryptocurrency especially Bitcoin.
 
But in (Fiat ) criminals are interested, to obtain who ever holding Fiat because Fiat, it's visible,accessible and also centralized to all over the world.

But another set of people acts as criminals in another dimension via cryptocurrency, it's those people we prefer as people who commit cyber crimes such as hackers and scammers towards cryptocurrency, Such is another method of criminals in cryptocurrencies.

rigid criminals against the use of cryptocurrency are common criminals or amateur criminals. Many criminals use cryptocurrency as the primary means of payment to avoid tracking who is using it. Because if you only rely on FIAT, your identity will be easy to trace.

some criminals opting for FIAT money may already have other strategies to avoid detection. FIAT is indeed the main goal for every criminal.

Currently, more crime is using cryptocurrency as a means of payment.

[EdenHazard]

Bitcoin, actually, got its popularity thanks to not quite honest people in this world who used Silk Road!
And still remains the number 1 currency in Darknet... Not Monero, not fiat, just Bitcoin!

So true.

Without these people I don't think Bitcoin will be as popular as it is right now. They are the ones making transactions in these illegal sites generating more transactions making Bitcoin popular. There are other things that people did to make Bitcoin popular, one of them is the 10000 bitcoin pizza.

The world is changing tife after time .. and it's a bit irony to know that thesedays you need something controversial to get popular and in this case yes indeed those bad things involved criminals taking advantage on crypto characteristics that in the first sight it was perfect method to run the crime action in smooth way. We have witnessed that nowadays people blackmailing by asking for bitcoins .. money laundering through bitcoins etc

That's all what makes bitcoin known , yeah unfortunately such terrible moments are the one that makes cryptocurrency talked by the whole world, that's okay for the first step as long as it didn't last forever that bitcoin knwon as such bad thing.

[South Park]

Bitcoin, actually, got its popularity thanks to not quite honest people in this world who used Silk Road!
And still remains the number 1 currency in Darknet... Not Monero, not fiat, just Bitcoin!

So true.

Without these people I don't think Bitcoin will be as popular as it is right now. They are the ones making transactions in these illegal sites generating more transactions making Bitcoin popular. There are other things that people did to make Bitcoin popular, one of them is the 10000 bitcoin pizza.

The world is changing tife after time .. and it's a bit irony to know that thesedays you need something controversial to get popular and in this case yes indeed those bad things involved criminals taking advantage on crypto characteristics that in the first sight it was perfect method to run the crime action in smooth way. We have witnessed that nowadays people blackmailing by asking for bitcoins .. money laundering through bitcoins etc

That's all what makes bitcoin known , yeah unfortunately such terrible moments are the one that makes cryptocurrency talked by the whole world, that's okay for the first step as long as it didn't last forever that bitcoin knwon as such bad thing.

You know what they say there is not such thing as bad publicity, governments have tried to stop bitcoin adoption by spreading misinformation about the people that use bitcoin and label them all as criminals, and while this has been effective so far how long it will take until people finally realize they are lying, basically some curious people will learn about this bitcoin the government talks about and will look about it themselves and they will discover the governments are lying, ironically the governments of the world will become the biggest promoters of bitcoin as they force the media to spread false news.

[holahola2021]

Criminals paid in cryptocurrency need to receive their final payout in cash. This requires obscuring where their funds come from. Unfortunately, several sophisticated services and tools help criminals do so. After all, if there were no way for bad actors to cash out cryptocurrency that they had received through illegal means, then there would be far less incentive for them to commit crimes in the first place.

[3meek]

There would be no less incentive, because illegal things are their routine work, and if it is not possible to convert bitcoins to fiat, they would definitely not go to work at the factory!
Personally, I don't see any problem in the fact that criminals are using bitcoin! What difference does it make what currency they use at all? Whether it's bitcoins or dollars...

[Assface16678]

Personally, I don't see any problem in the fact that criminals are using bitcoin! What difference does it make what currency they use at all? Whether it's bitcoins or dollars...

There's really nothing much of a problem except the crime they've committed. Criminals would more likely prefer cash simply because not all criminals are knowledgeable with this technology. What if it is a robbery? Will they ask the people inside the bank to send Bitcoin in their wallets? that would be silly. Also, it would be a hassle on their side, spending time to convert into fiat just to be able to make use of the money especially in areas wherein cryptos are not widely accepted. Indeed, but there are already many instances wherein cryptos are involved in crimes. So maybe, it depends on the ones who commited.

[J.Amador]

Why their prefer cash simply. Because cash is easy way to use than crypto cash is no security system than crypto it is very easy to use cash than using crypto but the advantage of using crypto is having a security for account.

[Xembin]

Because they are use to fiat money that is why they always prefer cash on top of crypto. During the pandemic many scammers where all over the crypto looking for someone to scam and collect cash on top of their crypto. Most of the criminals in cryptocurrency don't have any idea concerning the coin the investors are using to invest to make some good out of their investment.the criminals in cryptocurrency just have idea on fiat money that is why they always after the cash on top of cryptocurrency.

[Casdinyard]

Personally, I don't see any problem in the fact that criminals are using bitcoin! What difference does it make what currency they use at all? Whether it's bitcoins or dollars...

Indeed, but there are already many instances wherein cryptos are involved in crimes.

Bitcoin laundering, frauds and scams are mostly the crimes involving Bitcoin and other cryptos in the previous years. There is even a study in the University of Oxford, year 2017, wherein findings stated that there are 44 percent Bitcoin transactions which are related to crimes. So it is quite not a surprise knowing that anonumity is protected in this technology, as we all know. But to compare this with cases involving fiat currencies, odds will be on fiat to be more likely included in the motives of crime offenders, probably because it would be easier for them to use the money to anywhere and anytime they would want to.