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Cryptocurrency & Blockchain

Deep Onion and the Need for Anonymity in Crypto

While all you regular readers of this website may be a bit tired of me banging on about the growing cryptocurrency Deep Onion, some of you may well have read the recent article about the abduction of Pavel Lerner (owner of crypto exchange Exmo).

The story goes that, on the 28th December 2017, a group of individuals grabbed the Bitcoin tycoon from outside his hotel in Kiev and dragged him, at knife point, into a black Mercedes which fled the scene.

Within a couple days of his disappearance it was learnt that Lerner had paid over $1 million USD to his kidnappers in exchange for his freedom, leading to Anton Gerashchenko, advisor to the Ukranian ministor, making the following statement:

“He was kidnapped by an armed gang for the purpose of extorting Bitcoins. We have operative information that he paid more than $1 mln worth of Bitcoins. [After one and a half days, he was] then released in a state of shock. … He got very lucky that he remained alive.”

It is not far fetched that, with Bitcoin rising from $900 USD to over $14,000 USD in 2017, gangs are going to be targeting well known investors in the cryptoverse, especially those who own considerable piles of the currency dubbed the father of crypto.

With that in the forefront of many wealthy digital investor’s minds there is becoming a huge case for anonymity in the cryptoverse. This need for anonymity is becoming more urgent, as evidenced by disappearence of Lerner.

The Answer to Anonymity?… Deep Onion

Ask many people in the cryptoverse about anonymous crypto currencies and they will, no doubt, start telling you about a currency which sounds like a pickup truck from the southern states of America.

However, there is a sleeping giant which regular readers of this website will already be aware of: Deep Onion.

Deep Onion is a currency which actually operates over the TOR network (an entirely anonymous network which operates on the internet or, if you prefer, the ‘dark web’) and enables a holder of a Deep Onion wallet to remain entirely anonymous.

In the light of the kidnapping of Lerner it is clear that being able to keep your funds a matter of entire privacy is of great importance to the security of those who hold substantial amounts in the cryptoverse.

As with a traditional bank account, if any old Tom Dick or Harry can easily locate your account, and read its entire balance, you’re going to put yourself in a position where, if you have substantial funds, you will become the target of all sorts of bribes and blackmail.

Not only is Deep Onion offering an anonymous method of transferring, and storing, funds. It is also providing the means to store and share documents/files anonymously. Their unique DeepVault enables a user to store validating keys which ensure that a file is not corrupted or altered in any way and provides the much needed veil of anonymity which is clearly required in this industry.

The listed use case for the Deep Vault is to ensure the uncorrupted sharing of legal documents and contracts but, if you look outside the box, it is something which could be adapted and also used for medical records.

Between their DeepVault file system, and Deep Onion cryptocurrency, it is clear that Deep Onion is the anonymous crypto currency which the industry is crying out for and, with people’s safety now becoming at risk due to their crypto holdings, we will start seeing more of.

Visit the Deep Onion website

Trade Deep Onion on Cryptopia

Trade Deep Onion on Kucoin

Please remember that this article is not to be taken as any form of investment advice and that you should do your own research before investing your hard earned cash into anything.