World’s largest black market stops accepting Bitcoin

Monero has become the preferred cryptomeda among different activities, mainly illegal ones

The black markets found on the dark web have always been fans of Bitcoin as a form of payment, however, for at least 3 years things have been changing and recently the biggest of them stopped accepting Bitcoin and started to give preference to Monero.

The White House Market, one of the best known markets currently in darknet, has announced that it will stop supporting Crypto Engine as a form of payment and from now on will only accept Monero (XMR).

According to a statement made through Twitter assigned to the market, the platform will no longer accept Bitcoin because Morphtoken, an API that performed the conversion from BTC to XMR now blocks access from TOR nodes (The Onion Router).

„The solution using Bitcoin was only to help the transition to XMR and as far as we know, it is over. So, we are just accepting Monero“.

The idea of the black market has always been to use Monero as the main currency, not Bitcoin. The reason for this is quite simple, since the XMR is a cryptomoeda completely focused on privacy, and it is not possible to track the outgoing or incoming address of transactions.

Therefore, it is easy to understand why a black market, especially such a notorious one, has a preference for the use of crypto currency which makes any kind of identification difficult. Among all those that have this characteristic, Monero is older and more consolidated in the market.

Other markets of this type still offer support for Bitcoin, but with the market leader leaving BTC aside, we can see a similar movement in other platforms.

Monero replaces Bitcoin in different areas

It is curious, and worth pointing out, that this was not the first sign that Monero became preferred among different activities, especially illegal ones. Recently, Ransomware scams began to adopt the currency with a focus on privacy in place of Bitcoin.

While this increases the use of Monero, it may attract the attention of regulators, who have been trying for some time to find ways to track transactions on the asset’s network.

Monero is getting ahead of the competition when it comes to privacy in its transactions.