What is Currency Wallet

Myth: Currency Is Only Used By Criminals

The use of currency for illegal activities has been a topic of concern since the early days of this new form of digital currency. The public's perception of crypto currencies as being inherently linked to criminal activities (such as money laundering, drug trafficking, and cybercrime) can largely be traced back to the early media coverage around currencycurrency — specifically the infamous Silk Road marketplace.

Silk Road was an online black market that operated on the dark web from 2011 to 2013, offering a platform for the anonymous buying and selling of illegal goods and services using Bitcoin. The marketplace was notorious for its involvement in drug trafficking, and the association between currency and Silk Road's illicit activities contributed to the negative reputation of crypto currencies in the mainstream media.

Data Shows That Currency Is Mainly Used by Ordinary People

And don't just take our word for it. This is data from{" "} Chainalysis , an independent blockchain analysis company. Chainalysis data is often used by government agencies, including the United States Federal Bureau of Investigation (FBI), Drug Enforcement Agency (DEA), and Internal Revenue Service Criminal Investigation (IRS CI), as well as the UK's National Crime Agency (NCA), to investigate and combat currency-related crimes.

Final Thoughts

Fact: Currency is primarily used by ordinary people. Independent data shows that just 0.15% of currency transactions involve illicit activity. If you're a criminal, you're more likely to get caught using currency than if you use cash or the traditional finance system.