Once we set up the operating system and the KeePass, it’s time to get prepared with the money to be spent on the Deepweb. Let’s first begin with Monero (XMR) – a really anonymous cryptocurrency, unlike Bitcoin. Monero is the the first option you must pay with. It’s easy to get and use but there are some catches.
Your cryptocoins will be used to pay for your products or services. We will cover a few different ones that can be used, and the correct paths for using them so that they can not be tied to your identity. When possible you should stick with Monero. Always at the very least convert your Bitcoin to Monero.
Before we begin it is important that you remember EVERYTHING with Bitcoin/Litecoin is public on the blockchain. If possible you should ALWAYS start with Monero. If you need to pay your vendor in Bitcoin, or for some reason you started with Bitcoin/Litecoin, you can use the converting tools to keep you safe.
Note: This also cannot be stressed enough. If you start with Bitcoin/Litecoin, or Monero NEVER send your coins directly from an exchange to a vendor or market!!!
Key basic points about the crypto
Is it really necessary to convert my coins to XMR? I don’t want to spend that much in fees.
YES IT IS NECESSARY! You wouldn’t pay a dealer in front of LE in person. Don’t do it here! Any other form of asking if you need to use XMR will be responded with the same. Yes it is necessary.
If the price of Bitcoin/Monero increases/decreases, does that mean the listing on the DNM become more expensive/cheaper?
Not at all. The price will still be the same. Say if a vendor has a listing for $20, and the price of Bitcoin/Monero drops, the item will still be $20, but the Bitcoin/Monero equivalent will change. the vendor will only loose money after someone has made a purchase and the price of bitcoin drops.
Do both wallets have to be online at the same time?
No, to make transactions it is not necessary to have both Bitcoin wallets (the sending and receiving one) to be online. The transaction will be processed automatically, just make sure you follow the tips in the following chapters.
What is a satoshi?
The satoshi is currently the smallest unit of the bitcoin currency recorded on the blockchain. It is a one hundred millionth of a single bitcoin (0.00000001 BTC)
What is Monero (XMR)
Monero (XMR) is a decentralized cryptocurrency, meaning it is secure digital cash operated by a network of miners operated by users. Transactions are confirmed by distributed consensus and then immutably recorded on the blockchain. Third-parties do not need to be trusted to keep your Monero safe. These coins are much more difficult to trace. This article talks about how Europol has admitted they cannot be traced.
Monero FAQ
How do I safely route my coins?
Exchange -> Monero wallet (on Tails or Whonix) -> Seller or Market
My vendor only accepts Bitcoin, what do I do?
Monero wallet -> Exchange service -> Seller or Market
– OR –
Monero wallet -> Exchange service -> Bitcoin wallet -> Seller or Market
Use an instant exchange service over Tor to anonymously convert your Monero into Bitcoin (e.g. Bisq exchange)
Avoid sending directly from an exchange service to the destination if your order has a short timeout. The order may expire before payment arrives if the exchange is delayed for whatever reason. By first sending the Bitcoin to your personal wallet you have more control over when the payment is made. Make sure you convert enough to cover the extra transaction fees you will be paying.
Is it safe to buy Monero directly on a KYC exchange?
For most threat models, yes.
Is it safer to buy Monero directly or to buy Bitcoin and convert it?
If possible for you, buying Monero directly should always be preferred.
As a rule of thumb: try to minimize your interactions with transparent blockchains (such as Bitcoin, Litecoin, etc) as much as possible.
How do I buy Monero anonymously?
There are many anonymous exchange services like Bisq
Why is my transaction not showing up?
- Is your wallet software on the latest version? Some Monero updates are backwards incompatible, old versions stop working eventually.
- Is your wallet synchronized? The wallet needs to scan the blockchain to find your transactions. Wait for this process to complete.
GUI: Check the status in the lower left hand corner. Feather: The status bar should say “Synchronized”
- Does your transaction exist on a block explorer? Go to xmrchain.net and enter the txid of your transaction. If it doesn’t show up something went wrong on the sending side, contact them to sort it out.
If your transaction shows up on a block explorer and your wallet is synchronized, try the following:
Feather: Tools -> Import transaction. Enter the txid of the transaction. Click “Load”, then “Import”. If the transaction belongs to the primary wallet account it should now show up in the history.
GUI: Go to Settings -> Info. Next to “Wallet restore height” click “Change”, press Ok twice. Wait for the wallet to resync. After it is done syncing your transaction should show up.
My outgoing transactions keep failing
Feather: Before closing the wallet, right click on the “Failed” transaction and select “Resend transaction”. Wait for a few minutes until the transaction has 1 confirmation or try again.
GUI: Switch to a different node, go to Settings -> Wallet -> Rescan wallet balance, then try resending your transaction.
Failed transaction are caused by malfunctioning nodes. Whenever this happens please check which remote node you’re connected to and message the mods so it can be removed.
Is it safe to connect to a remote node over Tor?
For most threat models, yes.
It is recommended to change your remote node between each session. Feather wallet does this automatically.
Is there any way to speed up synchronization?
Switching to a different remote node will often help.
Feather: File -> Settings -> Node -> Double click on a different node.
How do I copy my address from Tails/Whonix to a different machine?
- Save your address to a .txt file and use a second USB drive to transfer it over
- Send a PGP encrypted e-mail to yourself using a throwaway e-mail service
- Scan the QR code with a secondary device
How to Buy Monero
Peer-to-peer
| Service | Notes |
|---|---|
| Bisq | decentralized exchange, BTC/XMR pair |
| OpenBazaar |
Exchanges
| Website | KYC | Fiat gateway | Trading pairs | Notes |
|---|---|---|---|---|
| Kraken | Yes | Yes: USD, EUR | BTC, EUR, USD | SEPA deposits are free |
| Binance | Yes | Yes* | BTC, ETH, BUSD, USDT | *Binance offers a wide range of fiat deposit options, but does not offer XMR directly for fiat. Purchase one of the available trading pairs with fiat then exchange for XMR. |
| Tradeogre.com | No | No | BTC | low volume |
| Bitfinex | Yes | Yes: USD | BTC, USD | |
| Bittrex | Yes | No | BTC, ETH, USDT | |
| KuCoin | Yes | No | BTC, ETH, USDT | |
| Poloniex | Yes | No | BTC, USDT |
There are also many automated exchange services can be found in Google that allow BTC/XMR pair or Fiat/Monero
Closing words
That’s all you need to know about the Monero. Unlike other coins it shouldn’t be mixed which makes it easier to be used in Tor. In the next posts we will have a closer look at Bitcoin and Litecoin if for some reason your seller doesn’t accept Monero
