this post was submitted on 11 Jun 2024

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Monero

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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 5 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 5 months ago* (last edited 5 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