For years, criminals have used cryptocurrencies to move money around. The market for illicit drugs alone in Europe and the United States is worth over $100 billion. Since it is so difficult and expensive to move large sums of money internationally, it has become the currency of choice for the dark web. In a few clicks, a user can move funds between cryptocurrency accounts or buy and sell other cryptocurrencies.

Even though it may seem strange, this new technology can be confusing until you get to know it more. We once thought Airbnb was crazy, but now we see it as the future of renting out our properties. However, if you ask us today if cryptocurrencies are used for illegal purposes, we would say no. There is no evidence that bad actors are using cryptocurrency for illegal purposes, despite what some people claim. However, some have speculated that cryptocurrency has been used for extortion, kidnapping, and other illicit activities.