For cryptocurrency, online criminals prefer availability to anonymity
New research from Recorded Future finds that online criminals who offer an alternative payment method to bitcoin prefer the more available cryptocurrency Litecoin to the harder-to-trace currency Monero.
Why it matters: Bitcoin won’t be around forever, at least for use as a method of criminal payment. Due to design flaws limiting the scalability of bitcoin, converting fiat currency to bitcoin can be slow and costly compared to other coins. And, though the currency is harder to trace than cash, transactions between anonymized sources can still be traced by law enforcement, leading to some security issues. Litecoin is a currency better equipped to address the first problem, while Monero is a currency better equipped to address the second.