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Yes, didn't mean to make an authority argument, just that the volume of Monero is quite low.
And to answer your question yo2, I need to first say that the question is based on faulty information. Remember, Hydra got taken down last year, that was the biggest DNM in history, nothing comes even close. It accounted for some 95% of total DNM volume and about the same % for crypto laundering via cash-out services (Bitzlato was one of the largest launderers). Hydra was a bitcoin only DNM. After their takedown, a bunch of competitors sprang up to fill the void and fought each other, with doxxing, fake rumors and all kinds of shit last year. The largest today in order I would say by volume and listings are:
  • Blackspurt: Bitcoin only
  • OMG!OMG!: Bitcoin only
  • Kraken: Bitcoin only
  • Mega Market: Bitcoin, Monero, Tether
  • Solaris: Bitcoin only (recently taken over by Kraken)
  • MGM Grand: Bitcoin only
Altogether they probably account for 99% of DNM volume.
So when you say: "[M]any DNMs discourage using Bitcoin and/or incentivize and recommend using Monero?", I'm not sure what you mean. Perhaps some of the small ones do, but I'm unfamiliar with those.
Crypto cash-out services are different than mixers which have fallen from favor. Cash-out services are generally foreign exchanges located in Russia, N. Korea, etc. Most have physical locations (offices or drop-offs). English language DNMs all utilize mail services. Russian language DNMs use drop-off spots. This requires middle-men, but foreign exchange rates are favorable enough to negate it. The Russian Bitzlato dude was arrested in Miami last year, part of the Hydra fallout. Binance is likely under scrutiny by the DOJ for operating the same way for sanctioned customers. There's been a bunch of busts.
Most DNM operators and vendors don't use Monero in crypto laundering because the backend is a foreign exchange, and since they're already paying ~15%, they don't want to pay another 10% for a trade leg they don't need. As for DNM customers, they generally don't care, and most would use credit cards if they were allowed to. Bitcoin is the lowest common denominator for customers, vendors, and operators; it offers enough privacy, liquidity, and convenience to satisfy each. The privacy of bitcoin can be greatly enhanced with a little bit of effort, and at very reasonable cost, without losing its liquidity benefits.
Thanks for response. Very interesting.
Not saying you are wrong, I could be wrong, but this is not my experience. The now defunct ASAP, Incognito, Archetype, Bohemia, etc are all I ever see on aggregation market websites. They are Bitcoin/Monero, incentivize using Monero, or are Monero only. But maybe that is because I'm in a sequestered bubble of English sites.
How did you get the volume data for all these markets you listed and where did you find them? What markets would you say are currently the top 3 by volume?
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