Bitcoin – The Currency used in the Anonymous Marketplace.

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In the next post I will be showing everyone the final precautions everyone should take when using The Silk Road and also the exact steps to take when figuring out how to get to the anonymous market but first I need to tell you about Bitcoins as this is the currency used in the underground online marketplace. Most people are very surprised to learn that there is no national currency of any kind accepted on The Silk Road including USD, PayPal, credit card, money order, western union and even fewer people actually know what Bitcoins are and how it all works. I am going to break it down for you a little.

Bitcoins are a decentralized digital currency created in 2009. They can be exchanged through computer or smartphones between parties (via the use of email) without the use of a third party financial institution. There are a few places on the net where Bitcoins are an accepted currency and not just the anonymous marketplace. So once you buy some Bitcoins then you trade them with the supplier of the goods you want and then the goods will be posted to you.

So you need to get some Bitcoins right? This is the tricky part.

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First you need a Bitcoin wallet, you can do this a number of ways including  going to Bitcoin.org or Blockchain and download a Bitcoin Wallet. This is a piece of software needed to trade Bitcoins with people by allowing you to own the addresses that you will use to trade Bitcoins.

Then you need to buy Bitcoins. You can try to find a direct seller online at such places Bitcoin OTC, Currency Exchange forum section or the Bitcoinery. I would not really recommend this as it is essentially like trading money on Craigslist but without actually seeing the money, a very high chance of getting scammed.

The safest way is to buy Bitcoins through Exchanges.  I personally like bitcoin.de. Follow my instructions in the main top post to find out how to buy bitcoins. After purchasing the Bitcoins you then send them to your Bitcoin wallet. When creating addresses and such ALWAYS remember NOT to use your name or anything that would lead to your true identity. The idea is to be as anonymous as possible.

This is one of my MOST IMPORTANT PIECES OF ADVICE:

When performing any transactions using Bitcoins check the feedback of other users and ALWAYS try to use an escrow service like Btcrow or something like that. You can find them here https://btcrow.com. By using them they will act as a holding center for the funds while the transaction is taking place and they will handle all disputes to make sure no one gets ripped off. One of the best things about using a service like this is that it is a massive deterrent for those people looking to scam you as soon as you mention that you want to use it then they will pull out of the deal if they are looking to scam you.

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