Do you use instant crypto exchanges as the option to buy Monero? (monero.town)

submitted 20 hours ago by jay_edwards@monero.town to c/monero@monero.town

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Hi everyone, I'd like to know if you use instant crypto exchanges when you need to buy or sell Monero? I mean such services as Exolix, Trocador, simpleswap and similar?

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[-] oliver_twisted@monero.town 1 points 1 hour ago

Has been a while since i needed to swap anything to get monero since localmonero came about and now haveno.

[-] shortwavesurfer@lemmy.zip 1 points 7 hours ago

Yes, primarily because I buy every single month, no matter what. And so I always just swap USDC for Monero.

[-] admin@monero.town 4 points 19 hours ago

Sometimes Trocador when I need to pay for something that doesn't accept Monero. If you use the ref-link in the monero.town sidebar it also helps fund the site without swaps costing any extra!

[-] jet@hackertalks.com 1 points 20 hours ago

They are options, if you already hold crypto they make a bunch of sense.

Just be aware of KYC burden

[-] key_brolin@monero.town 2 points 19 hours ago

Just be aware of KYC burden

Is there KYC? I thought these services don't require it

[-] jet@hackertalks.com 2 points 18 hours ago

They can, but they will only tell you that you need to do kyc after they have custody of your funds.

[-] shortwavesurfer@lemmy.zip 1 points 7 hours ago

On trocador They have a shield icon if your transaction is insured and they also give a rating of a all the way down to D for exchanges. I think if you use a C or higher exchange, they will insure the transaction up to a certain point, like $1,000 US dollars.