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

submitted 3 weeks 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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[-] key_brolin@monero.town 2 points 3 weeks ago

Just be aware of KYC burden

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

[-] jet@hackertalks.com 2 points 3 weeks 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 3 points 3 weeks 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.

[-] jay_edwards@monero.town 3 points 3 weeks ago

So, what instant exchanges do you recommend to use?

[-] shortwavesurfer@lemmy.zip 3 points 3 weeks ago

Trocador and choose the insured ones. Usually B or C level

[-] kevino1@fosstodon.org 2 points 3 weeks ago* (last edited 3 weeks ago)

@jay_edwards @shortwavesurfer i just use trocador. app , find the best rates and go with it. I prefer A or B category exchanges. Also one with less processing time.

[-] BobGnarley@lemm.ee 1 points 3 weeks ago

Always use the one that insures your full amount of funds. Its capped at $1000 but this should be plenty because the fees will always be lower than getting robbed.

Trocador is the only one I'd recommend for that but for direct fiat to XMR or XMR to fiat I would highly recommend Haveno Reto. It is growing every single day and I can usually find a match within a couple hours.