The growing popularity of bitcoin as a means of payment on the darknet

Darknet users actively used Bitcoin in their transactions in 2019, this is stated inresearch by Chainalysis. For example, in the fourth quarter alone, the amount of BTC transactions on the so-called “shadow web” exceeded $600 million.

However, experts emphasize that if we compare the scale of application of the first cryptocurrency in the darknet and in the legal field, the second is significantly ahead of the first.

For example, only trading on cryptocurrency exchanges in total significantly exceeds transactions with bitcoin in dollar terms, the volume of coins used in darknet.

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In addition, the researchers recordeda trend in which the demand for bitcoin in the darknet does not change significantly even during periods of increased volatility in the market. This suggests that network users prefer to use BTC technology, and they are less interested in the current value of the coin.

It was also found that darknet fundsare passed through cryptocurrency exchanges with their subsequent transfer to fiat. Last year, law enforcement agencies liquidated eight darknet sites, although eight more new markets appeared over the same period.

Previously, Chainalysis researchers stated that2019 saw a record number of attacks on cryptocurrency exchanges. During this period, trading platforms were attacked by hackers 11 times. For comparison, in 2018 there were only six such attacks.

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