Practical application and criminal aspects of cryptocurrencies

Abstract

The paper discusses cryptocurrencies both in terms of their applicability to everyday financial transactions as well as in terms of criminogenic factors. The Authors will present practical ways to settle in virtual currency, institutions in which bitcoin payments can be made and the possibility of converting them into traditional currencies. Also factors conducive to combine cryptocurrencies with the criminal world, such as the anonymity of both the Internet and cryptocurrencies will be analysed. In addition, the paper presents the real impact of cryptocurrencies on the increase in crime worldwide, both related to financing of terrorism and in connection with taxation of income. The data and conclusions contained in this study are a contribution to the discussion on the sense of investing in cryptocurrencies, and above all on the opportunities and threats that entail the widespread introduction of this method of payment.