Unless you enjoy holding paper monero, and letting centralized exchanges get away with fractional reserves, always withdraw your crypto!
Even better idea, don’t buy Monero on a centralized exchange and don’t sell Monero on a centralized exchange. Use decentralized exchanges only.
The best prices are on CEX
*for now. Imo its worth paying a bit more to use it in a pure way. The only reason centralized exchanges have a better price is because they have more liquidity. So as decentralized exchanges get more of the liquidity, the prices will narrow due to seller competition
True this though. The future of monero is in DEXs. Monero will for sure get banned and be categorized as a tool for money laundering.
Governmyth hates it. Equals call it money laundering. Problem solved.
DUDE rightt. I remember when the FBI seized the domain of z-library they listed “money laundering” as one of the reasons they took it down on the seized website 😂 like dude z-library gives out pirated ebooks.
I internally translate money laundering as “improper use of money”. They’ve made using money in ways they don’t like a crime, instead of actually stopping crime
This. All the CEX would know is “this guy bought monero and put it in a wallet (I make it a point to never reuse receive addresses). I have some plausible deniability of losing all my monero in a gambling accident or spending it all by never withdrawing it to one wallet, plus i get good prices
Plus it justifies deposits in case I sell, they won’t be like « where does the crypto come from? »
But yea in an ideal world that shouldn’t be required and we shouldn’t be spied on
CEXs are important for the xmr ecosystem. The least fees, quick and convenient. They should be avoided if possible, but in reality, it’s not very possible.
I mean, it is very possible to avoid CEXs. I just choose to take advantage of them while they (Kraken) haven’t banned Monero from their exchange (RIP belgium and ireland)
Looking at the long term though to provide an indestructible on/off ramp we need DEXs, I’ve tried out Haveno Reto and it’s looking good: https://github.com/retoaccess1/haveno-reto/releases/tag/v1.0.7
jokes on you, you can’t buy monero on centralised exchanges!
Kraken! (At least in the US)
