Do you believe that bitcoin are used for criminal activities?

[Potuse]

Bitcoin are used for criminal activities and that is the major reason why most of the government of the country failed to acknowledge bitcoin. They believed that the faceless terrorism group could use it as a source of fund.

 

[Kennysplash]

As a matter of fact they are indeed. This is due to it not being traceable and it's anonymity. So scammers are taking advantage of that to rip people of their hard-earned money.

 

[Emmy]

There is nothing that cannot be used as criminal activity as far as it is technology. Criminals always have their dubious ways therefore it is necessary to pass law and policy.

 

[eenya00]

There is no denying that Bitcoin is been used for illegal activities, as it is easier to send money to any country in a matter of seconds using Bitcoin, as the transaction process are seamless.

 

[Planbizzle]

It is possible and has been done to use bitcoin and other coins for illegal purposes. There have been allegations that bitcoin has been used to finance crime, launder money, and facilitate unlawful activities like human trafficking.

 

[Riberet19]

Yes, it is true that Bitcoin is used for illegal transactions since it is certainly more anonymous than fiat money, but with fiat money more illicit acts are done than with Bitcoin and there is no doubt about that, also today one of the most used currencies for private transactions is Monero, and not so much Bitcoin as in the past since the Bitcoin network is totally transparent.

 

[HK World]

Yes, Bitcoin has been used for criminal activities, but the vast majority of users are law-abiding citizens who use it for legitimate purposes.

It is important to take measures to prevent the use of cryptocurrencies for illicit activities while also recognizing their potential benefits for innovation and economic growth.

 

[eenya00]

Yes, Bitcoin has been used for criminal activities, but the vast majority of users are law-abiding citizens who use it for legitimate purposes.

It is important to take measures to prevent the use of cryptocurrencies for illicit activities while also recognizing their potential benefits for innovation and economic growth.

Even banking sector has also been used for illegal activities as everything that is legitimate also have ways that people try to manipulate and use it for illegal activities

 

[Grant]

Bitcoin and other crypto currencies are abused for scams a lot. The big reason why is because once you give crypto to someone else, I believe that's it. There's no recourse for getting it back.

A lot of scammers use Bitcoin and other cryptocurrency to get people to send them money.

I think they're trying to fix this, and stop it from happening, but it think more needs to be done.

 

[Danny4cash]

Bitcoin is anonymous in nature. It's difficult to track transaction that was performed with bitcoin. That's why criminal elements usually use it for transaction to evade security agent scrutiny.

 

[Mayorla]

Yes, I believe that Bitcoin are used for criminal activities.
This is why Centralized exchange ensure that their clients provide a means of identification when registering. This would help reduced fraudulent activities in the crypto space.

 

[Bango]

This possibility exists. May be. But it is not very important because the national currency is also used and it is not a big issue. Criminals and crimes always exist in everything . It does not matter if it is Bitcoin or national currency

 

[Ononivami]

This possibility exists. May be. But it is not very important because the national currency is also used and it is not a big issue. Criminals and crimes always exist in everything . It does not matter if it is Bitcoin or national currency

Additionally, bitcoin could be used to fund illegal activities because its source cannot be traced. However, the blockchain technology made bitcoin tamper-proof and as such, it could be used for illicit activities.

 

[Yohanna]

A lot of terrorist group use bitcoin as a source of funds from their international allies. So many countries have accused bitcoin to have been used for different illegal activities.

 

[kirubel]

The main reason why governments don't accept cryptocurrency in their country, in my country Bitcoin is used for black market, since the transaction is anonymous the government can't control the illegal transactions, so some persons use it to buy other country's fiat money online and exchange it on black market so the government won't get the profit from foreign exchanges.

 

[Riberet19]

Like fiat currency, Bitcoin is also used for illicit things, but very little of its use is actually intended for such activities, there are currencies such as Monero that are more prone due to their intractability and privacy that are currently used more than Bitcoin, Bitcoin we must remember that it has a public ledger and people can quickly find a transaction that comes from illicit acts.

 

[James]

While it is true that some criminals have used Bitcoin for illicit purposes, it is essential to remember that the majority of cryptocurrency users are law-abiding individuals and businesses. The vast majority of Bitcoin transactions are conducted for legitimate purposes, such as investments, remittances, and online purchases.

 

[Nomad]

Bitcoin and all other crypto coins are frequently being used for illegal transactions and even to fund terrorism. However, illegal transactions are also carried with fiat currency, fiat currency I also used to fund terrorism. You cannot just blame crypto.