In this article we discuss what a darknet cryptocurrency exchange is and review three of the best such exchanges that are generally considered to be trustworthy by the community.
Everyone is familiar with what a cryptocurrency exchange is, but they might not know that there are such exchanges that exist solely on the dark web. While the prospect of using them may not inspire feelings of safety or confidence, there are a few such exchanges that have been around for a number of years and have proven themselves to be trustworthy operations in this time. Many of them also offer reputable mixing services which will break links in ownership history on the blockchain, allowing users to get “clean” coins for a nominal fee.
Darknet crypto exchanges are technically more similar to a coin swapping app in the way they operate in that one coin is simply shifted to another without any sort of advanced order placement options. For this reason, they are commonly referred to as swapping services or exchangers. Their owners are anonymous, and they do not adhere to any regulatory standards, but they all share the commonality of wanting to preserve the privacy of their customers, which is an ever-increasing rarity among cryptocurrency businesses.
For regular users of darknet markets or those simply concerned with maintaining a level of anonymity online, knowing how to utilize these types of crypto exchangers is becoming an essential skill. Blockchain analysis companies are becoming increasingly sophisticated in the level of forensics and tracking they are able to accomplish and being able to break blockchain links in spending habits can prove to be a useful endeavor. There is of course an advanced level of risk involved with using such services, but much of this risk is also to be found in the use of traditional exchanges, as well.
What are the Pros & Cons of Darknet Exchanges?
For those concerned with maintaining their online and offline privacy, these exchanges provide numerous benefits over regular cryptocurrency exchanges on the clearnet, which include the following:
- They do not require KYC or even provision of basic data, such as a name or email address.
- Usually, they do not require account creation, only the provision of a withdrawal address (or multiple) and sometimes a refund address.
- There is no order placement process – one coin is simply swapped for another at a designated rate.
- There is no need to deposit coins onto the exchange before an order can be placed (no central wallet system).
There are also a few drawbacks inherent to most darknet crypto exchanges, which include:
- Higher fees than most clearnet exchanges.
- Support for a limited number of cryptocurrencies (usually limited to BTC, XMR, and LTC).
- Potentially limiting order minimums or maximums.
If something goes wrong during the exchange process, it can also be harder to get an immediate resolution to a problem, although the services discussed in this article generally have a reputation for helping their customers resolve issues as they understand the importance of good business practices. If the site does not have an easy means to contact the owner, there’s a good chance they can be found on the Dread forum under the site’s respective subdread.
Three Top Darknet Exchanges
Below is a quick breakdown of three darknet cryptocurrency exchangers / swapping services which have garnered a reputation for providing a legitimate service. Depending on what you are looking for in particular, one may be better suited than the others for your particular needs, but all three have performed hundreds – if not thousands – of successful swaps over the course of their existence and are generally well-regarded by the darknet market community.
Elude Exchange
Administered by the creator of Elude Mail, one of the longest-running Tor-based, privacy-focused email services. Features an account-free swapping service and Bitcoin mixer. Admin is intensely focused on creating as anonymous an exchange process as possible.
- Elude link: eludemailxhnqzfmxehy3bk5guyhlxbunfyhkcksv4gvx6d3wcf6smad.onion
- Coins supported: BTC, XMR, LTC
- Advanced withdrawal options: No
- Deposit min/max: min = 0.001 BTC, 0.1255 XMR, 0.34558 LTC; no maximum
- Fee: 4% for swaps, 1%-3% for mixes
- Offers BTC mixing service: Yes
- Has own subdread: Yes
- Listed on dark fail: Yes
Infinity Exchanger
Newer service that is a part of an up-and-coming Tor-based messenger service to facilitate communication between vendors and buyers. Allows for one crypto to be swapped for multiple types in a single exchange. Staff maintains active communication with customers.
- Infinity Exchanger link: exchanger.dhme3vnfeleniirt5nxuhpmjsfq5srp44uyq2jyihhnrxus7ibfqhiqd.onion
- Coins supported: BTC, XMR, LTC, BCH
- Advanced withdrawal options: Yes
- Deposit min/max: min = $12; max = $40,000
- Offers BTC mixing service: Yes
- Fee: 3% + tx fee for swaps and mixes
- Has own subdread: Yes
- Listed on dark fail: No
Kilos Finance
A well-established darknet markets search engine that also offers an advanced exchanger and Bitcoin mixer. Also features a live chat and sophisticated mixer options, including an anti-AML system that assures mixed coins will not be confiscated by exchanges.
- Kilos Exchange link: mlyusr6htlxsyc7t2f4z53wdxh3win7q3qpxcrbam6jf3dmua7tnzuyd.onion
- Coins supported: BTC, XMR, LTC
- Advanced withdrawal options: Yes
- Deposit min/max: min = $12; max = $40,000
- Fee: 7% for swaps, 3%-4.5% for mixes
- Offers BTC mixing service: Yes
- Has own subdread: Yes
- Listed on dark fail: Yes
Basic Tips for Using Darknet Market Exchanges
- Be sure to read all the terms and conditions of the exchange before attempting to open an order with them for the first time.
- When using an exchange for the first time, start with a small amount of coins. This can minimize the losses incurred during the process in case you somehow make an error, or the exchange process otherwise doesn’t go as planned.
- If the exchange offers it, use multiple addresses to split up the proceeds of your exchange, and transaction time delays as well. This can do a lot to increase the level of privacy during your transaction.
- If you are receiving BTC, don’t assume the coins you are receiving will me AML-compliant with your local exchange. Attempt to perform some sort of taint analysis on them unless you have utmost confidence in the exchanger’s ability to provide clean coins.
- Try to get a general consensus on whether or not the exchange is considered to be trustworthy by the community. While the exchanges mentioned in this article are largely deemed safe, reputations can change rapidly, and there’s no harm in getting a feel of the current, general opinion from the community. This can be done by checking the exchange’s subdread and looking for reviews in link hosting sites like Darknetlive.