Now that several darknet marketplaces have started accepting Monero as a payment option, an interesting shift in the ecosystem is created. Although these marketplaces will mostly deal with Bitcoin, Monero presents some interesting anonymity features. One recent Reddit post explain how to use the currency and not go to jail for doing so, which is sending a very wrong message.
Monero Won’t Get You In Jail By Any Means
There seems to be a lot of confusion regarding the bias of cryptocurrency. Bitcoin and Monero have no bias towards legitimate or illegal use cases, even though they can both be used in a different manner entirely. Using cryptocurrency on darknet markets does not make either currency illegal, although some people seem to think they will go to jail for using either currency.
What darknet users should be most concerned over is their own behaviour on the platform. Buying illegal goods or services will get people in jail sooner or later, regardless of how they pay for it. Cryptocurrency is not designed to facilitate illegal activity or purchases, even though Monero offers more anonymity compared to Bitcoin right now.
At the same time, Monero does not advertise itself as a complete privacy-centric solution either. There are additional traits that make it more privacy-oriented than Bitcoin, but it is far from a perfect solution. Anyone who expects something differently may want to read up on what these currencies provide exactly, and avoid disappointment that way.
Running one’s own Monero software on a device controlled by the user is always the preferred solution. Otherwise, there will be little to no additional privacy compared to Bitcoin transactions. At the same time, using a Bitcoin transfer on darknet markets while relying on a third-party service provider is asking for trouble as well. This “problem” is not inherent to just Monero by any means.
Moreover, using Monero through ShapeShift is not the best option either.. The company does specify they will comply with all legal request for user information. The same applies to any bitcoin wallet provider that acts as a third party. People who demand more privacy and anonymity when paying for goods on the darknet will have to put in a lot of effort. Monero is not here to make things a lot easier all of a sudden. It has benefits, but only if the user wants to pursue it. The same applies to Bitcoin, albeit it is inherently less anonymous and privacy-centric.
Image credit 1
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.