What is the article about?

The article is about how Bitcoin (BTC) is no longer the favored cryptocurrency for illicit activities due to its traceability. As the most popular cryptocurrency, Bitcoin has been the go-to choice for criminals looking to conduct illegal activities due to its relative anonymity. However, recent advancements in blockchain analytics have made it easier for law enforcement to trace Bitcoin transactions, making it a less attractive option for criminals.

TRM Labs, a blockchain analytics firm, recently conducted a study that revealed Bitcoin’s declining popularity among criminals. The study found that Bitcoin’s share of darknet transactions dropped from 90% in 2013 to just 10% in 2019. This is largely due to the emergence of other cryptocurrencies such as Monero (XMR) and Zcash (ZEC), which offer greater privacy and anonymity.

The study also found that criminals are increasingly turning to decentralized exchanges (DEXs) to conduct their transactions. DEXs are not subject to the same regulations as traditional exchanges, making them a more attractive option for criminals. The study concluded that Bitcoin is no longer the preferred cryptocurrency for illicit activities.

What is the main argument?

The main argument of the article is that Bitcoin is no longer the cryptocurrency of choice for illicit activities. This is due to the fact that Bitcoin is no longer as anonymous as it was once thought to be. As a result, other cryptocurrencies are now favored for illicit activities.

TRM Labs, a crypto compliance and risk management company, recently published a report that found that Bitcoin is no longer the go-to cryptocurrency for illicit activities. The report found that other cryptocurrencies, such as Monero, Dash, and Zcash, are now favored for these activities due to their increased privacy and anonymity.

The report also found that Bitcoin is still used for illicit activities, but to a lesser extent than before. This is due to the fact that Bitcoin transactions are traceable and can be tracked by law enforcement. As a result, criminals are now turning to other cryptocurrencies that offer more privacy and anonymity.

What does the article say about Bitcoin?

The article states that Bitcoin is still the most widely used cryptocurrency, but its traceability has made it less attractive for illicit activities.

It also states that other cryptocurrencies, such as Monero, are now favored for such activities due to their privacy features.

Categorized in:

Tagged in: