Isn’t Bitcoin Just for Criminals? The Truth Behind the Myth
One of the longest-running smears against Bitcoin is that it’s mostly used for illegal activity.
To some people, “Bitcoin” conjures up images of dark web deals, hackers demanding ransom, or tax evasion schemes.
Mainstream headlines haven’t helped.
But here’s what they leave out: Bitcoin is one of the worst tools for crime—and one of the best tools for transparency.
Let’s set the record straight.
The Origins of the Myth
Yes, Bitcoin was used on the Silk Road (an online black market) in the early 2010s.
Back then, Bitcoin was one of the only ways to send digital value without needing a bank. Naturally, some early adopters were criminals looking for loopholes.
But guess what?
So was the internet.
And email.
And phones.
Every communication and payment tool starts off with edge cases before reaching mass adoption.
That doesn’t make the technology bad. It just makes it powerful.
The Numbers Don’t Lie
Today, the share of Bitcoin transactions linked to illicit activity is tiny—far less than most assume.
According to Chainalysis:
Less than 0.25% of all crypto transactions in 2022 were criminal in nature.
That’s down from over 7% in 2012.
And far below the estimated 5% of global GDP that flows through traditional financial crime like money laundering, offshore tax havens, and bank fraud.
In other words:
Cash and banks are used for crime more than Bitcoin ever has been. But no one calls dollars "criminal money."
Bitcoin Is the Worst Tool for Crime
You’d think criminals would love Bitcoin.
But they don’t—for one simple reason:
Bitcoin is traceable.
Every transaction lives on a public ledger. Forever.
Once law enforcement ties an identity to a wallet address, they can follow the money indefinitely.
That’s how authorities have:
Recovered hacked funds
Tracked ransomware payments
Busted illegal marketplaces
It’s far easier to track dirty Bitcoin than dirty cash.
Smart criminals avoid Bitcoin. Dumb ones get caught using it.
Transparency Is a Feature
What makes Bitcoin revolutionary isn’t its secrecy—it’s its openness.
Every transaction is public.
Anyone can audit the supply.
No one can fudge the numbers or cook the books.
Compare that to banks and governments, where balance sheets are private, bailouts happen in secret, and corruption gets buried.
Bitcoin doesn’t hide wrongdoing. It exposes it.
Who Really Uses Bitcoin Today?
Not criminals.
Here’s who’s actually using Bitcoin now:
Everyday savers looking to escape inflation
Ukrainians fleeing war with their savings
Nigerians bypassing capital controls
Americans opting out of fiat debasement
Developers building the future of finance
El Salvador and other nations making it legal tender
Bitcoin isn’t crime money. It’s freedom money.
And that’s why it gets smeared—because it threatens the power of those who profit from the status quo.
Final Thoughts
Is Bitcoin used by criminals?
Sure—just like cash, cars, and phones.
But focusing on that misses the bigger truth:
Bitcoin is a tool. And tools reflect the intent of the user.
Overwhelmingly, Bitcoin is being used by good people for good reasons—reclaiming control of their savings, escaping broken systems, and building a more transparent world.
If anything, the people trying to ban it should make you wonder…
What are they trying to hide?
If you liked this article, consider checking this one out as well:
https://www.unchained.com/blog/bitcoin-is-not-for-criminals
Want to learn how to use Bitcoin safely and responsibly?
Grab our free guide: Bitcoin Unlocked: A Guide to Financial Sovereignty
Shout out to BullishBTC.com—cutting through the FUD, one article at a time.
