The dark web is famous for selling goods at a discounted rate to different buyers. You may get drugs, fashion products, or other items from this web. When buying goods, the most common form of payment on the internet is cryptocurrency.
If you’re not familiar with cryptocurrency on dark web links, you don’t have to worry much. This guide will clear all your confusion about digital assets.
What Is Cryptocurrency?
Cryptocurrency is a digital form of payment that is not controlled by a central authority. This means no bank or government will be required to verify your transaction. Such a payment system mainly operates in a decentralized mode.
The money is stored in digital wallets, and transactions can be verified through keys held by the fund’s owner. It mainly operates on a peer-to-peer system. This means anyone can send or receive cryptocurrency coins without much interference from external parties.
Bitcoin was the first cryptocurrency to appear in 2009. It is also the best form of payment on dark web links due to stability and other reasons. You can also buy products through coins such as Ethereum, Monero, and more.
What Do People Use Cryptocurrency On Dark Web?
Let’s look at some uses for crypto coins on dark web links:
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Personal Transactions
Many dark web links are crypto wallets or tumblers that allow you to send or receive money. The former will store different coins for you until you want to use them for buying products or sending them to someone else. Meanwhile, tumblers mix your cryptocurrency and send it to a recipient.
You may prefer to use the dark net for crypto transactions to prevent your activity from being recorded in the browser’s history and other advantages. The recipient may also be more comfortable receiving coins through dark web links instead of surface web wallets.
The best thing about using dark web links that direct you to crypto tumblers is that you may also end up enhancing the value of your Bitcoin or other cryptocurrency.
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Buying Illegal Products
Many dark web links that accept cryptocurrency are marketplaces offering you goods or unique services. Such sites accept digital coins to ensure the transaction cannot be traced back to them. The most common thing that people buy on the dark web using cryptocurrency is drugs.
These digital coins are exchanged for products because it makes it hard for the government to crack down on the marketplace. However, you can also buy legal services on some dark web links using cryptocurrency.
So, you should consider crypto transactions to be always synonymous with illegal purchases.
Why Is Cryptocurrency the Main Payment method from the Dark Web?
Here are some reasons that make cryptocurrency preferable for dark web links:
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Stealth Features
The best thing about cryptocurrency is that it has features that promote anonymity. You can conduct such transactions without revealing your personal details by using decentralized wallets and exchanges. Platforms operating on this mechanism do not require your personal details for authentication.
Bitcoin and Monero also have additional features like stealth addresses. These are unique key combinations that are public and private simultaneously. Stealth addresses can hide the flow of funds because they can only be used once.
A wallet address is generated when you send money from your wallet. This makes the transaction traceable to you. When a stealth address is generated, it will replace the wallet address to ensure the transaction cannot be traced back to you.
The main feature of such addresses is that you can send money to the same wallet using different stealth addresses. So, no one will be able to know where you have been sending money. You will also not have to worry about your identity being disclosed.
These options offer high anonymity to dark web users who prefer privacy over other things. That is why cryptocurrency is the main accepted payment form on most dark web links.
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High Security
Many dark web marketplaces deal with the sale of bulk products. This means that a lot of money is at stake when items or services are being sold. Every seller wants to receive money securely, while buyers want to send funds without any hassle to avoid loss of funds.
That is where cryptocurrency comes into play. Bank transactions are more susceptible to hackers because they may lock you out of your accounts and transfer the money to their wallets before you can regain access.
However, that is difficult with crypto wallets. Transactions cannot be intercepted easily due to decentralized programs. You are also in complete control of your keys, so you don’t have to worry about third-party leaks.
Bitcoin is the best cryptocurrency for dark transactions due to its multiple security layers. Its blockchain is impenetrable, which is what allows this currency to offer high security to owners of dark web links and buyers on this web.
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It Can Be Mixed With Other Digital Coins
Cryptocurrency is difficult to trace for the government, but the feat is still achievable with advanced tools. Luckily, this loophole is being tackled by dark web links that direct you to Bitcoin mixers. A mixer allows you to send money to a pool of funds that has been created using coins received from various people.
After some time, the specific amount you mentioned is sent to a recipient from the pool. The mixing process obscures the past blockchain history of the relevant coin to ensure it cannot be traced back to you. Such flexibility cannot be achieved by using real money.
This is why most dark web links accept cryptocurrency and not bank transactions. Those who use the dark net for illegal purposes also prefer crypto mixers to ensure their transactions remain untraceable.
What Are the Top Cryptocurrency Coins Accepted By Dark Web?
There are many cryptocurrency coins on the market, but only five of them are most important for operators of dark web links:
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Bitcoin
Bitcoin is not just the top cryptocurrency for dark markets, but it is also widely used by people on the surface web. This is because of the high security it offers to users. Dark users mainly opt for this currency to buy illegal content, weapons, and much more on the dark web.
It is also commonly used for money laundering on the dark net. The best thing about the Bitcoin network is that it has never been shut down once. This is why the currency is more reliable for safe transactions.
No one has also been able to steal Bitcoin from its blockchain, making it the securest crypto coin on the market. It also has a higher value than other cryptocurrencies.
When the illegal dark marketplace called Silk Road was cracked down by the government, more than 9 million Bitcoins were seized. These funds only amounted to two years of sale. So you can understand how valuable Bitcoin is on the market.
However, you should remember that this currency is traceable using advanced methods. This is why people who deal in Bitcoin send it through a dark web mixer before the recipient for better security and anonymity.
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Monero
There are many cryptocurrencies on the market, but Monero has a feature that makes it unique. It is a privacy coin, which means that the main purpose of its creation was to keep information private. Most coins only hide your contact details and name.
However, Monero takes things to the next level by also keeping your wallet address private. The currency does this by generating a one-time stealth address. Ring signatures can also be used on the dark net when performing transactions of this coin to shield your keys and the exchanged amount.
As per a study, 90% of dark web links accepted Bitcoin, while 79% of them accepted Monero. This is why it is the second most important cryptocurrency on the dark net.
Cybercriminals on the dark web also prefer Monero over Bitcoin due to its privacy status. This is why some attackers may even reduce the ransom amount to get paid in this currency.
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Litecoin
Litecoin is often associated with Bitcoin due to design similarities and functions. However, it offers an additional benefit to dark users. Transactions conducted in this currency are faster, so you recipient will not have to wait hours to receive the funds.
Since dark marketplaces like to get paid faster, they may accept Litecoin as their primary payment method. As per a survey, 21% of dark web links prefer to get paid with Litecoin.
Another reason why people use Litecoin more often is that it has lower transaction fees than Bitcoin and Monero. The only risk of this currency is that it can be tracked.
It can also be blacklisted within the blockchain to prevent further transactions. This is why you must weigh all the pros and cons before using Litecoin on the dark web.
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Dash
Dash is preferred by dark web cybercriminals due to its unique scrambling features. By scrambling a transaction, this coin keeps the identity of the involved parties hidden. It also impedes traceability to offer better anonymity than most other coins.
People also consider it a good investing coin. The presence of Dash may be small on the dark web, but it is still there. If the coin’s security improves, it may even take over other cryptocurrencies.
At least 3% of the marketplaces on the dark net accept this coin as the primary payment method. The number may increase with time due to growing dark web links.
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Zcash
Zcash is also a privacy crypto coin like Monero, but it lacks some other features, too. This is why it has a small share of the dark web. The coin offers multiple address options for transaction flexibility.
You may choose from transparent, private, or public addresses. So you can enjoy partial privacy by using Zcash. Cybercriminals choose Monero over this coin, but as a regular dark user, you may not want the high-security features that Monero offers.
In such cases, you can opt for Zcash to minimize your transaction fees while enjoying good security.
What Are Some Good Dark Web Crypto Wallets?
Let’s look at the top dark wallets that you can reach through dark web links:
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Wasabi Wallet
Wasabi Wallet is an excellent dark web wallet that you can use for coinjoining cryptocurrency. Its open-source and non-custodial system makes it preferable for Tor users.
The best thing is that the wallet’s developer actively participates in updating the program and avoiding cyber-attacks. A new version has also been released to fend off an attack on the dark web.
This is why you can rely on the wallet to protect you and your currency on the dark web.
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Hidden Wallet
Hidden Wallet is an anonymous wallet on the dark web that offers high privacy. You can conduct transactions without revealing your identity. It also ensures the funds will not be traced back to you.
The best thing is that you will have complete control over your keys. This means hackers can only access your funds through leaks from your side. If you stay careful and avoid disclosing your key details to other people, your coins can remain safe.
You can mainly use this wallet on the dark web, so you will not find its site on the surface web. Be sure to turn on your VPN before using this wallet for crypto trading.
Why Should You Avoid Dark Web Links To Coinbase When Dealing With Cryptocurrency?
Coinbase is a crypto exchange platform that many people will recommend you to use on the dark internet. However, you should steer clear of it to avoid losing funds. The security of this platform has been compromised recently.
For example, a user lost about $134,000 from their Coinbase account to hackers. Some verified accounts have also been stolen and sold on the dark web for at least $610.
Summary
Cryptocurrencies on the dark web are mainly used for personal transactions and paying for goods. Coin mixers are also famous on the dark net and encourage the use of cryptocurrency.