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

  • @azalty
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    31 month ago

    The best prices are on CEX

    • @shortwavesurfer@monero.town
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      51 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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        11 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.

          • @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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      11 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
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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