16
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 11 Jun 2024
16 points (86.4% liked)
Monero
1667 readers
12 users here now
This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
Wallets
Android (Cake Wallet) / (Monero.com)
iOS (Cake Wallet) / (Monero.com)
Instance tags for discoverability:
Monero, XMR, crypto, cryptocurrency
founded 1 year ago
MODERATORS
I don't like CEXes and the whole transfer money in and transfer out process and Kraken appears to require an account. and I see a sign in. If ChangeNow or any other instant exchanges that don't require 3D KYC/AML, I'll use it. I haven't purchase XMR in the last few months since I have enough for a major emergency and I can't tie up more money, so I don't know the current state of instant exchanges. But when I do need to buy again, if I can't find an instant exchange with low KYC out there to buy XMR, I know that they still exist for the popular POW coins so I'd go the DEX route. But if those don't exist, I will be more open to explore other options like Haveno or Kraken.
Regardless, CEX’s are the most convenient way to obtain monero. People should do what you describe, try to dodge as much KYC as you can.
On a sidenote, this is probably why i think Monero is undervalued in the market lol, a large proportion of monero trades happen outside of CEXs, and the market prices come from the API’s of CEXs