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

  • g2devi@feddit.nl
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    1 month ago

    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.

    • aldalire@lemmy.dbzer0.comOP
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      1 month 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