Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Privacy Coins Forum => Monero Forum => Topic started by: PrivateKayla on September 24, 2024, 06:11:43 AM
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Monero is the top privacy coin, but it's been difficult to get XMR. Have the increased government scrutiny, the closure of LocalMonero, XMR delisting from major exchanges so frustrated you that you decided to let go of your XMR? Or is privacy a priority for you that you will keep on using XMR?
I'd love to hear your points of view. I have kept my XMR despite the issues surrounding it. I use it for payments occasionally and is part of my investment portfolio.
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I still HODL my Monero. While buying/selling Monero is harder these days, some major exchange such as Kraken and KuCoin still support Monero. And for those prefer privacy, there are many small exchange which doesn't require registration/KYC verification such as eXch or OrangeFren, although such exchange usually have higher fee.
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While buying/selling Monero is harder these days, some major exchange such as Kraken and KuCoin still support Monero.
I said this statement about a week ago, but today i found out Kraken decide to stop support XMR in European Economic Area (EEA)[1]. They claim they have no choice due to regulation, so i expect it'll happen to other centralized exchange which still support XMR soon.
[1] https://support.kraken.com/hc/en-us/articles/support-for-monero-xmr-in-europe (https://support.kraken.com/hc/en-us/articles/support-for-monero-xmr-in-europe)
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While buying/selling Monero is harder these days, some major exchange such as Kraken and KuCoin still support Monero.
I said this statement about a week ago, but today i found out Kraken decide to stop support XMR in European Economic Area (EEA)[1]. They claim they have no choice due to regulation, so i expect it'll happen to other centralized exchange which still support XMR soon.
[1] https://support.kraken.com/hc/en-us/articles/support-for-monero-xmr-in-europe (https://support.kraken.com/hc/en-us/articles/support-for-monero-xmr-in-europe)
Yes. Authorities are showing how they are very much against XMR. And it's kinda funny to me after reading a Fortune article discussing a report published by the Crypto Information Sharing and Analysis Center (CryptoISAC) found that criminals prefer cash to crypto, which I suppose includes Monero.
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I said this statement about a week ago, but today i found out Kraken decide to stop support XMR in European Economic Area (EEA)[1]. They claim they have no choice due to regulation, so i expect it'll happen to other centralized exchange which still support XMR soon.
[1] https://support.kraken.com/hc/en-us/articles/support-for-monero-xmr-in-europe (https://support.kraken.com/hc/en-us/articles/support-for-monero-xmr-in-europe)
The fewer platforms that list a cryptocurrency, the less likely it is for its price to increase, which means that those who use it are always looking for enhanced privacy, so Monero will lose a large part of its trading traffic and its use will remain tied to specific uses. I hope to see more DEXs that care about privacy.
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The fewer platforms that list a cryptocurrency, the less likely it is for its price to increase, which means that those who use it are always looking for enhanced privacy, so Monero will lose a large part of its trading traffic and its use will remain tied to specific uses. I hope to see more DEXs that care about privacy.
All CEXs aim to comply with regulations to sustain operations and profit from the crypto market. There's no reason for Kraken to risk it, especially when XMR's daily trading volume is only around 3M USD on their platform. The EU's new regulations are making many CEXs more cautious. Kraken is already in a dispute with the SEC and would likely avoid escalating tensions in Europe.
DEXs don't seem like a viable solution for XMR as I'm unaware of any within the Monero ecosystem. Consequently, XMR's liquidity will likely dwindle, making it an undesirable investment for this market cycle. There are more promising tokens available, such as BTC, ETH, SOL, AVAX, TON, NEAR...
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DEXs don't seem like a viable solution for XMR as I'm unaware of any within the Monero ecosystem. Consequently, XMR's liquidity will likely dwindle, making it an undesirable investment for this market cycle. There are more promising tokens available, such as BTC, ETH, SOL, AVAX, TON, NEAR...
Monero price in past few years already makes it not attractive for many investor anyway. Although FWIW, there are still many small CEX with no/optional KYC which accept Monero. While government could put pressure to them, i'd be a lot of work and currently not worth their time due to low volume.
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The fewer platforms that list a cryptocurrency, the less likely it is for its price to increase, which means that those who use it are always looking for enhanced privacy, so Monero will lose a large part of its trading traffic and its use will remain tied to specific uses. I hope to see more DEXs that care about privacy.
All CEXs aim to comply with regulations to sustain operations and profit from the crypto market. There's no reason for Kraken to risk it, especially when XMR's daily trading volume is only around 3M USD on their platform. The EU's new regulations are making many CEXs more cautious. Kraken is already in a dispute with the SEC and would likely avoid escalating tensions in Europe.
DEXs don't seem like a viable solution for XMR as I'm unaware of any within the Monero ecosystem. Consequently, XMR's liquidity will likely dwindle, making it an undesirable investment for this market cycle. There are more promising tokens available, such as BTC, ETH, SOL, AVAX, TON, NEAR...
Haveno-Reto and Bisq are DEXs that support Monero. The coins you mentioned are promising and I DCA on some of them. But I will keep investing in XMR because of its privacy and because I believe it still has good value.
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I am buying Monero, though, every new day it becomes harder to do. The question: "where to buy" also becomes more popular
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I'm buying as much as I can afford. Monero is the only remaining crypto with a huge potential upside, but almost no risk of a major dip.