Bitcoin is de facto currency mostly used on the dark web because of the added anonymity of the Bitcoin platform.
For example, unregulated gambling making dark net attractive to all kinds of gamblers paying with BTC. On the dark web one can also find betting websites. Gambling on the dark web bears the same risks, but many of them turn out to be scams built on some sort of Ponzi scheme. Some of them refuse to pay to the winners and keep their money which have been deposited before the players started the game.
Some of the major cryptocurrency coins or digital currencies such as Bitcoin, Monero (XMR), Ethereum and Litecoin are broadly used as a payment method or mode of payment on the dark web.
Bitcoin transactions are quite traceable. However, using a Bitcoin mixer service will make it quite difficult to trace the transaction. Bitcoin mixers kind of help to anonymously convert Bitcoin to spendable money.
Ransomware on the dark web may instruct the victim to purchase the Bitcoin and how to use them to pay their attacker.
One of the methods used by the dark web wallet is the generation of new addresses. This generation of the address occurs every time when the sender wishes to make a transaction. Several tactics or tricks have to be used in the right manner for making a successful transaction. With such encryption of transaction at the dark web wallet, you will have no clue about to whom you are paying the funds. There is no tracking for the address of the payee, so this whole process is anonymous. It would not be wrong to say that both the sender and the payer are totally unknown and anonymous on the dark web. You cannot find out the sender or payer from the transaction histories as every time the dark web wallet address is a new one.
Soon or later the accumulated bitcoin will be traded for goods, services or cash. In this case it can be traced from pseudonymous address to a real person. Any such link might be a subject of interest to the enforcement agency.