Bitcoin is one of the most controversial and demanding cryptocurrencies of all the time. Bitcoin was one of the top favorite currency of criminals who used to trade it in return for buying weapons and for the money laundering.
After bitcoin has launched in the international market, the government has shown concerns regarding this currency and how it can increase the number of illegal activities. Now after certain regulations it’s not possible to do anonymous trading.
Bitcoin is not their favorite anymore but they have found the replacement of bitcoin. Another currency which is getting quite active in a criminal market is Litecoin.
Litecoin is the clone of bitcoin and this is the new choice of criminals to continue their illegal activities online without any tracking information and data. Litecoin is popular cryptocurrency in Russia but when it comes to the English countries then they prefer Monero due to the untraceable quality.
There is another quality of litecoin which is successfully attracting people towards it that it has the power to do faster transactions than bitcoin and it is available at almost every exchange. It is reachable and you can trade it without leaving any traces of it behind you.
The supporters of litecoin have created a wallet with the name of “cold storage” which is a way of keeping coins in the wallet without internet. This is one of the most demanding qualities criminals needs in Russia because in this country criminals are not afraid of the law that they are of hackers.
The reports are also saying that after Litecoin, Dash is also going to be the next choice for illegal activities on the criminal forum. Criminals are not able to complete their anonymous transactions through bitcoin and bitcoin is not that quick as compared to the other currencies. Maybe it’s a time to put some regulations on litecoin too.