Two days ago I came across an article that pointed out Litecoin (LTC) is increasingly becoming more popular as a dark web currency. Bitcoin (BTC) is still the most dominant, but Litecoin seems on the rise.
According to the article, there is a big difference between the preferred currencies in Eastern European Dark Web and the English Speaking Dark Web. In Eastern Europe Litecoin (LTC) is at 35% of Bitcoin’s popularity, while on the English Speaking Dark Web this is only 11%.
It seems logical that altcoins are gaining traction on the dark web, especially when Bitcoin fees were high at the end of 2017. I'm curious what happens when the Bitcoin Lightning Network (LN) gets more adoption.
In total it comes down to this (Eastern Europe weighs more heavily in this research):
Personally I would expect Monero (XMR) to be much higher, because it is a privacy-focused coin. What do you think are reasons for Monero not being the top dog after Bitcoin? And ZCash (ZEC) is also not that popular, why is that?
Let me know you thoughts in the comments!
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Disclaimer: I am not a financial advisor, trader or developer. I am just a blockchain & cryptocurrencies enthusiast. Make sure you do your own research, draw your own conclusions and do not invest any money that you cannot afford to lose.