In the world of Bitcoin and Ethereum, there is a lot of illegal activity going about. People are using their Bitcoin and online Ethereum wallet to transfer funds to other users. Most of the transactions on the cryptocurrency network are fine, but there exist groups of people who use digital currency as a platform to trade dangerous goods.
Criminals use Bitcoin
It’s not secret that the drug trade has fueled Bitcoin’s valuation, which extends to Eth. From its price of $1 to $1000, Bitcoin has been driven up by demand. Demand for a platform which users can anonymously purchase goods, drugs or not. The Silk Road has been a huge part of why Bitcoin is worth so much today.
Many users of Bitcoin are also seeking to grow their investment. In fact, most are speculators who have no interest in trading. This is the reason why Bitcoin has been so volatile in the past. There have been so many bubbles due to speculators buying Bitcoin en masse.
Ethereum for Future Applications
Now, digital currency isn’t all bad. For example, Ethereum is working on developing smart contracts and dencentralized applications which will save the general public billions of dollars. This process eliminates the need for middlemen who take a lion’s share of the value when transacting. It is necessary to evaluate the future prospects of blockchain technology in the future, regardless of how it has been used in the past.
The last group of people use utilize Ethereum currency are the people interested in developing and using new technology. It’s not only Bitcoin and Ethereum wallet users who represent a certain group. Many younger adults are interested in the development of new ideas and processes, including teenagers. There are also many people who dislike PayPal, as they have been a company known to close accounts randomly. It is a common belief that there is too much power held by corporations such as PayPal over users’ money.