Since the inception of the very first cryptocurrency, Bitcoin, authorities in power labeled it with a wide range of illicit activities — e.g.
According to a 2021 report from Chainalysis, in 2019, criminal activity represented 2.1% of all cryptocurrency transaction volume — roughly $21.4 billion worth of transfers.
While certain facts support the thesis that merely a small percentage of cryptocurrencies are used for illicit activities, politicians continue to disparage crypto enthusiasts using this vector of attack.
People with a shallow knowledge of Bitcoin might think it cannot be tracked, though the leading cryptocurrency is easily traceable.
However, Bitcoin wallet addresses do provide a footprint for additional research.
There are a limited number of truly untraceable cryptocurrencies — with the most popular one being Monero .
The most popular process that attempts to annihilate the traceability of Bitcoin is Bitcoin mixing — also called Bitcoin laundering, Bitcoin washing, or Bitcoin tumbling.
It is worth mentioning that Bitcoin mixing is a paid service, so no regular trader would use it for a routine transaction.
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