June 14, 2021

How many bitcoin transactions are associated with illegal activities?

How many bitcoin transactions are associated with illegal activities?

Bitcoin is not as popular among criminal groups as it might seem. This conclusion was reached in blockchain analysts CipherTrace in their monthly report, where they found that only 1% of all transactions on the Bitcoin network are associated with illegal activities and can be considered high-risk.

For example, analysts found that in 2020about 1.2% of transactions in the bitcoin blockchain are made between crypto exchanges and high-risk organizations. Moreover, about 6% of transactions were made between the exchanges themselves. Another 32% of transactions are between cryptocurrency exchanges and private wallets, and 61% of transactions are between private wallets.

How many bitcoin transactions are associated with illegal activities?


In their sample, CipherTrace was classified as a high-risk organization:

  • sites with blockchain games;
  • mixers;
  • darknet;
  • hype scam campaigns;
  • Ransomware
  • malware;
  • criminals;
  • darknet provider;
  • high-risk exchanges.

Moreover, analysts also decided to find out the volume of risky transactions used for money laundering. They concluded that in 2020 the share of such transactions fell from more than 1% to 0.11%.

However, the activity of scammers on the marketcryptocurrencies are not fading away. As previously revealed by Elliptic analysts, at least 13% of all criminal proceeds in Bitcoin in 2020 went through anonymous crypto wallets. For comparison: in 2019 this figure did not exceed 2%. At the same time, Elliptic admits that in absolute terms, in recent years, the volume of criminal transactions has been less than 1% of all transactions on the network. This is 34% less than in 2012.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

Site reliability is primarily determined bytrading volume and number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance is also the most popular cryptocurrency exchange in Russia and the CIS, since it has the largest turnover of funds and supports transfers in rubles from bank cards Visa / MasterCard and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) https://binance.com 9.7
2 Bybit https://bybit.com 7.5
3 OKEx https://okex.com 7.1
4 Exmo https://exmo.me 6.9
5 Huobi https://huobi.com 6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability - stability of access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the period of work on the market and the daily trading volume.
  • Commissions - the size of the commission for trading operations within the site and the withdrawal of assets.
  • Feedback and support - we analyze user reviews and the quality of technical support.
  • Convenience of the interface - we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform features - availability of additional features - futures, options, staking, etc.
  • final grade - the average number of points for all indicators, determines the place in the rating.

How many bitcoin transactions are associated with illegal activities?


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