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

  • shortwavesurfer
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    1 month ago

    Even better idea, don’t buy Monero on a centralized exchange and don’t sell Monero on a centralized exchange. Use decentralized exchanges only.

      • shortwavesurfer
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        1 month ago

        *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

        • aldalire@lemmy.dbzer0.comOP
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          1 month ago

          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.

          • shortwavesurfer
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            1 month ago

            Governmyth hates it. Equals call it money laundering. Problem solved.

            • aldalire@lemmy.dbzer0.comOP
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              1 month ago

              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

      • aldalire@lemmy.dbzer0.comOP
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        1 month ago

        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

        • azalty@jlai.lu
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          1 month ago

          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