this post was submitted on 11 Jun 2024

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Monero

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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

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PSA: when getting monero from a centralized exchange, ALWAYS withdraw your funds to your non-custodial wallet when you can (lemmy.dbzer0.com)

submitted 10 months ago by [email protected] to c/[email protected]

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Unless you enjoy holding paper monero, and letting centralized exchanges get away with fractional reserves, always withdraw your crypto!

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[–] [email protected] 1 points 10 months ago* (last edited 10 months ago)

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