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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[–] jet@hackertalks.com 1 points 2 weeks ago (1 children)

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 2 weeks ago (1 children)

Just be aware of KYC burden

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

[–] jet@hackertalks.com 2 points 2 weeks ago (1 children)

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 2 weeks ago (1 children)

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 2 weeks ago (3 children)

So, what instant exchanges do you recommend to use?

[–] shortwavesurfer@lemmy.zip 3 points 2 weeks ago

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

[–] kevino1@fosstodon.org 2 points 2 weeks ago* (last edited 2 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 1 week ago (1 children)

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.

[–] owe_addams@monero.town 1 points 1 week ago (1 children)

If I am not mistaken, Haveno reto has problems with set up, no? I tried it, but now, decided to return to Trocador, Exolix and simpleswap

[–] BobGnarley@lemm.ee 1 points 1 week ago

I haven't heard of any set up problems. What system are you using?