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How Bitcoin Can Be Used in Money Laundering?

There is no doubt that Bitcoin is one of the most revolutionary things that has emerged in the past two decades. In its 10-year history, Bitcoin has been able to reach the number 1 spot when it comes to cryptocurrencies and bring some enhancements to traditional financial systems. This certainly includes blockchain technology.

However, while the benefits and positives of crypto fever are really great, there are some things that seem to be illegal. Since no one has control over Bitcoin and any transaction never reveals the name of the persons involved, it is easy to conclude that money laundering may occur. There are currently some methods and mechanisms for this illegal activity, and you can read more about them in the text below.

In the meantime, you can turn to legal ways to get rich, for example by smart investing in cryptocurrencies like Bitcoin. A great website for beginners is, which offers you accurate analysis and a user-friendly interface. Join in and with a bit of luck, you can become a new millionaire.

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Almost every year, a new incident of tax evasion or money laundering is revealed. This is a clear indication that the current financial systems are not suitable for these illegal activities and people trying to profit in this way, have to look for new mechanisms.

Bitcoin, like all other cryptocurrencies, seems very convenient for money laundering because no one controls these transactions thanks to advanced blockchain technology. Therefore, every user almost doesn’t need to have any connection with traditional banks because thanks to private keys they can store digital currencies on their own.

Also, while blockchain technology allows insight into one big public ledger, it is almost impossible to detect who is behind the transactions because the main goal is to protect privacy. So, this can be a great money laundering opportunity, right?

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A great way is to use mixing services. These things are used to get BTCs forwarded to different wallets, from a wallet whose address is on the notorious dark web. After opening a few wallets on the regular internet, you also need to create several on the dark web using the Tor browser. After BTC ends up in a wallet that has an address on the dark web, people use mixing services that send cryptocurrency in smaller separate transactions back to addresses on the regular internet. This leads to a situation where it is very difficult to link all these transactions and to see that it is a fraud.

Another effective way to launder Bitcoin is to use unregulated exchanges. The process is similar to the use of multiple wallets as mentioned earlier. Specifically, a certain amount of BTC needs to be exchanged via unregulated exchanges for some other cryptocurrencies. The process needs to be repeated several times as each transaction increases the level of privacy and literally becomes more and more difficult to discover who is behind the exchange. In the end, all you have to do is send the cryptocurrency after the process to one account, and that’s all.

In the end, we have to emphasize once again that these actions are illegal and that the best solution is to find profit in the legal trading of cryptocurrency.

About Henrietta Milanovska