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Cryptocurrency in the black market

  • Thread starter Thread starter BrolySSJ
  • Start date Start date
My problem now is, where are they carrying out this black market transaction, because if you are referring to buying or selling a coin to someone i don't know through addresses i think that's more risky than buying on exchanges.
 
BrolySSJ said:
Yes, i think that this is why the government is so focused on trying to regulate these currencies so that they can move away from this notion that cryptocurrency is considered to be the illegal currency as such.
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People were already using dark web and using fit money to buy illegal stuff long before the evolution of crypto currency. Therefore, not allowing crypto just because it is used in the dark web is partiality.
 
The word illegal have said it all. You don't need to trade your cryptocurrency in any illegal side, it is highly prohibited in my country. There are lots of scammers that are hanging around in all those websites waiting to scam people there crypto currency. Only trade on government approved platforms
 
Mika said:
People were already using dark web and using fit money to buy illegal stuff long before the evolution of crypto currency. Therefore, not allowing crypto just because it is used in the dark web is partiality.
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I think that it is all coming down to news manipulation in order to try and steer people away from cryptocurrency. There has even been a lot of talk about certain politicians and government officials that are actually spreading fake news regarding cryptocurrency in order for it to not become adopted within the society.
 
Nowadays, it's crypto traders that dominate the cryptocurrency market, and illegal crypto uses only account for 10%. To give you a clearer picture of the proportions, sources estimate that black market deals by means of cryptocurrency could go as high as $1.5 billion this year. This sounds like a huge deal.
 
If the black market is not what the government needs then I don't see any reason why it should be allowed. It is people that are going to this black market to carry out transactions but I wonder why they can't just get an account in Trusted platform for easy transaction
 
The black market has been in existence even before the coming of cryptocurrency. people who do arbitrage trading always capitalise on some of those opportunities to make some good amount of money for themselves.
 
I will always advise that you should use recognise cryptocurrency exchanges in order to buy a new crypto-currency because there are a lot of scam that is going off again.
 
There is nothing officially like the black market of cryptocurrency so you have to be very careful whenever you are making your money. You should only swap using recognised crypto exchanges.
 
BrolySSJ said:
The black market is an illegal trading site where people exchange goods and services for a specific amount of money and generally these are not of a nature that can be allowed by the law. As a result cryptocurrency has become increasingly popular on the black market and people are able to transact with each other without revealing their identity to each other. This anonymity is provided through cryptocurrencies.

However this is also the concern when it comes to cryptocurrency because it is being used for illegal actions. This is extremely dangerous and it is one of the reasons why the government is not willing to accept it. What are your thoughts on how cryptocurrency is being used within illegal trades?
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Despite the numerous advantages that cryptocurrency presents, some unscrupulous individuals have been using cryptos for their own nefarious means which degrades the reputation of cryptocurrency
 
The anonymity crypto provides has only succeeded in facilitating more illegal transactions which provides basis for the argument of regulation by non fans of the crypto movement. If this can be resolved, I see crypto gaining more acceptance
 
Although it might seem illegal but some people don't have a choice but to practice the illegal aspect of cryptocurrency in some countries where cryptocurrency is ban by their government.
 
It's not nice that crypto currencies are being sold in the black market and also being used for illegal means. This is why some countries placed a ban on crypto currencies.
 
To give you a clearer picture of the proportions, sources estimate that black market deals by means of cryptocurrency could go as high as $1.5 billion this year. This sounds like a huge deal.
 
The value of cryptocurrencies changes more the more investors interact with them. Some investors use cryptocurrencies as payment methods or modes on their e-commerce websites, and some even trade commodities with them. These are some of the reasons that influence cryptocurrency swings.
 
BrolySSJ said:
The black market is an illegal trading site where people exchange goods and services for a specific amount of money and generally these are not of a nature that can be allowed by the law. As a result cryptocurrency has become increasingly popular on the black market and people are able to transact with each other without revealing their identity to each other. This anonymity is provided through cryptocurrencies.

However this is also the concern when it comes to cryptocurrency because it is being used for illegal actions. This is extremely dangerous and it is one of the reasons why the government is not willing to accept it. What are your thoughts on how cryptocurrency is being used within illegal trades?
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The illegal market use of cryptocurrencies is a well-known concern. Because of their secrecy, cryptocurrencies such as Bitcoin are frequently preferred over regular payment methods, making them a perfect tool to conduct illegal activities.
 
With or without Cryptocurrency, There is still illegal trading in the black market. The introduction of Cryptocurrency just made the illegal trading more easy. Cryptocurrency also made it less traceable because of its anonymosity.
 
Any currency that is accepted as an exchange for goods and services will always have a black market. There is no two ways about it even trade by barter had black market.
 
The fact that cryptocurrencies give you more privacy in transactions than fiat currency is the main factor why they are used on the deep web and in its black market, most people will believe that Bitcoin is used in its entirety, but many of the transactions today are made with Monero for its high privacy and intractability.
 
Selling cryptocurrency through the black market is a risky way to involve in crypto currency transaction and it should not be encouraged because there are better platforms to do such.
 
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