CEX

KateR_H0l1day

Ahhh, I understand better now and you’re absolutely right, but if he has selected a phishing email code and also the white listing. Then he would have gotten a real email regarding an address being white listed. He could then (assuming he sees the email within the 24 hours) blocked it himself! If he already doesn’t have these, I would certainly recommend he does! These functions are important in my opinion, not saying other CEX’s don’t have, I can only speak about CDC.

dannygladiolas

I do not know, but what I like LTC it is accepted on all CEX with a fraction of cents.

OmeIetteDuFrornage2

You're missing their point entirely. IF you want to stop using banks, then sure, go non-KYC, and stop using banks. But if you want to cash out your non-KYC coins through a bank or through regulated CEX, don't bitch and moan when your funds get locked away. You brought this upon yourself. You wanted to stop using banks, then stay out of the banks.

gowithflow192

There was a service some years ago where they have you specific bank details that you gave you employer for payroll purposes. So employer pays third party in fiat who then pays you crypto. Honestly though just as easy to convert yourself at your own CEX.

uncapchad

Push it through a mixer or trade it on a DEX and then later maybe it ends up on a CEX. But there are still ways to get cash without a CEX using payment processors

gr8ful4

Coming to a CEX near you. Learn to trade on P2P markets or DEX. It will save your ass from future crypto wealth taxes.

Dark_Raiden_

Stupid question but how do these scammers actually unload money. How do they convert their crypto to cash. Since the blockchain records everything and the addresses are all public, they can't just send to a CEX and withdraw to the bank.

Itslittlealexhorn

>shitty centralized L2s that are a nightmare for users to use. ... what? How are Arbitrum or Optimism a "nightmare" to use? You can send funds for a fraction of a cent, you can interact with smart contracts for a few cents, you can bridge fairly cheaply between L2s, send it to a CEX to trade there, you can borrow or lend funds on AAVE for basically no cost... the UX is awesome. The security is not as bulletproof as ETH L1, but it doesn't need to be. "Shitty centralized" really just means you picked up some buzz words and have no idea what you're talking about. Yes many L2s are centralized to an extent, but that's only relevant for liveness of the L2 chain, meaning the worst that could happen would be the chain shutting down and having to recover your assets through L1 transactions. The security of your funds doesn't depend on some trusted authority. The ETH L2 paradigm is as close to a solution to the trilemma as currently exists. I'm not an ETH maxi, I own BTC, SOL and everything else. I'm just seeing that currently ETH is working really well.

WR3CKONER

I agree from an investment standpoint that it may never hit a large market cap like BTC or ETH, but from a decentralized/privacy standpoint and store of wealth/currency XMR can’t be beat. Also I get that binance is the largest CEX in the world, that XMR is being banned in the EU, but that’s because they’re afraid of it. Wasn’t the point of crypto to be your own bank and not have the government know your financial moves? I would like to also add LTC/BCH to my portfolio once I get a chance. For now I’m holding XMR and it is definitely incredibly undervalued, and I respectfully disagree that privacy coins will not survive. You don’t need an CEX to purchase XMR. XMR is what Bitcoin was meant to be.

the2nicks

Bank hasn’t been an issue, yet, I’d hope they’d contact me before freezing my account! They can see the CEX where money has gone to and come from so I’d hope they put two and two together. HMRC. Yes, technically they do require a list of sales, specifically how they relate to buys, to determine pooling, 30-day and same-day rules, to ensure their tax rules are correctly applied. To be honest, this and the resulting CGT was one of my biggest worries with crypto. I tried to put it all together in a spreadsheet but found it too complicated trying to get the rules working properly. I looked at and tried a few software offerings, some didn’t work “properly”, ended up using Koinly which imported the CEX data correctly, allowed me to make the relevant adjustments and generated the necessary HMRC reports. I’m not a fan of HMRC. I think they make it all too easy for us to make mistakes and then punish us for it. Depending on whether you’re classed as a casual investor (CGT) or a trader (Income Tax) the taxes are different. Putting aside that 8 don’t like paying any tax (!) CGT is actually quite favourable, there’s no NI and the tax rate starts at 10%. And if you post a loss one year you can carry it forward x years against future gains. I hope that helps. Good luck. https://www.gov.uk/hmrc-internal-manuals/cryptoassets-manual/crypto22256

para1131_F33L

No it's annoying that I have to type a memo in otherwise the CEX will lose it. That's what's annoying.

gr8ful4

Use a P2P market like LocalMonero/AgoraDesk or bisq. KYC and CEX scams will always be a thing. I really don't understand why people love to give away their data to inferior services with longer waiting times.

gr8ful4

My proof is withdrawals blocked. But I guess most people enjoy just getting fucked by CEX.

gr8ful4

I wouldn't use Coinbase. Every CEX has risks. Coinbase may be fully backed. But thanks to KYC/AML procedures they expose your data to various risks and data leakages, creating a full profile of your on-chain tx. Confiscation may just be one such risk.

JustAnotherUser_1

Because you don’t want to be connecting your main wallet to the DEX. If it’s a CEX then sure, skip that step. For example I transfer straight from my wallet to Kraken and vice versa… No middle steps. Main -> Kraken If you’re connecting your main wallet, then you risk being compromised. So if you need to connect *a* wallet, make it a burner wallet you’re connecting. So if I’m interacting with Uniswap and the likes; I will do Main -> Burner -> Uniswap Hope that clarifies?

Dark_Raiden_

>Is your eth mainnet and eth base address the same? Yes >Or do you need to add base somehow? Yes. Add base, switch to base, and it would appear. But when transferring to CEX make sure you use a network supported by the recipient CEX, because you can't just add a network like you could worh MM.

KateR_H0l1day

Many staking platforms have no chance to get your crypto, it’s more about the platform and how you lock. Celsius was a CEX, and you didn’t hold your coins, they did, most but not all of mine are held by me and if the platform fails, I still get my coins to move elsewhere. I do have some locked on a CEX but that’s mainly for Debit Card staking, I feel fairly safe with the CEX but not fully, which is why I moved most outside the CEX. Yes, it’s obviously different in regard to how much you actually have to invest in total, and for various single coins/tokens.

KaydeeKaine

Most if not all UK CEX require this quiz

Tomatillo-Brave

If you are trading frequently then there is less use case for a cold wallet. Also seems to me you are comfortable with the risk of high gains/losses. If that change’s during your journey but a cold wallet. You can use an exchange. Then you can think of using an DEX or CEX :)

uncapchad

it might not have been a someone but a something. These chat bots are rife on TG, X and Discord and usually closely mimic the conversation you were in then close/disable it when they have what they want. They are also very good at covering their tracks and usually leave no trace behind. Except for the blockchain You can see all activities of any address on the blockchain. The problem is establishing the identity of an owner. If they send funds directly to a CEX you might be able to get law enforcement to ask the exchange to block it. Usually what happens though, is the funds get pushed through a mixer or traded on a DEX first to obscure origin. It's a hard lesson to learn and until there is a better way of establishing people's bona-fides, this all high-risk. You have no idea of the entity on the other side of the conversation. Anything and anyone can be impersonated these days and it all looks extremely real and genuine.

Ok-Western-5799

Download Binance or any CEX while you learn how to self custody. Go to Twitter, read about projects and always follow narratives. If I had 5000 USD, 3500 would be shared between BTC ETH and MATIC while 1500 would go into BONUS, NAKA, RIO, and CORE

suesing

Take everything off CEX. Just a matter of time

TabletopThirteen

Not on most big CEX. For instance Coinbase charges $3 no matter what whether it's $1000 or $10 so it's better to save up

lxdr

>MTGOX was the first example and there have been 3-4 major exchange collapses/rug pulls as well as countless minor ones. Mtgox was a watershed moment for sure, but it still wasn't as convenient as smartphone app solutions that we have now. Too many people are treating this like it's sports betting. Where the entire gambling industry spends an ungodly amount of money on demonstrating just how easy and quick it is to download an app, tap a few buttons and make some bad financial decisions. That's where I think people are getting caught. They're getting wrapped up in the speed and convenience of buying. CEX's do literally everything to encourage keeping your coins on their exchange for their own benefit. I don't care if it's even coinbase, custodial wallets are anti-bitcoin and anti-crypto.

milkthefunk

CEX is for dummies. Not your keys, not your crypto. Not your name, not your shares.

EndSmugnorance

If you receive tainted BTC (meaning it has history from a blacklisted address) and send it to a CEX, your account will almost certainly be frozen. That means 1 BTC =/= 1 BTC. Bitcoin does NOT satisfy the conditions to be ‘digital cash’

Hofnars

OP is scared because of all the FUD here and in other places about 'CEX bad'. Not being able to withdraw crypto bought with money from a sale that hasn't settled yet is a good thing. Especially considering the amount in question. If only banks worked like that 'The check I sent was to much, send me refund plz' scams would stop working immediately.

darksage247

Seem similar claims about KuCoin from multiple OP’s over the last six months. They seem to have managed to steer through there recent legal issues and huge outflows relatively unscathed. If KuCoin were as bad as people said they would have folded. Not saying none of the big remaining CEX aren’t dirty. I just don’t think it’s as bad as these post make it sound.

imlynn1980

I’m buying small amount several times a day on a CEX, and withdraw to my cold wallet once a month. You pay lowest possible fees this way.

kshucker

Not your keys not your crypto. Same goes for y Those CEX’s you recommended too.

gr8ful4

"Never had an issue before" - is what al CEX victims claim.

gr8ful4

1. Do not trade on Robinhood. 1. Do not trade on Gate.io 1. Do not trade on KuCoin 1. Not on HTX 1. Not on Poloniex 1. Not on OKX 1. and avoid Binance 1. if you insist on using a CEX use Coinbase 1. or Kraken (but only if you are forced to)

xResearcherx

What about Binance? Never had an issue with that CEX

Elean0rZ

Oops, you responded to the thread rather than to me, so I didn't see this until now. To your first question, fundamentally, the only thing that matters is whoever holds the private keys to the coins in question, but let's back up for a sec. If you purchased your coins/tokens by paying fiat currency (USD or whatever) on a typical regulated centralized exchange (CEX), you would have gone through KYC (know your customer) with the exchange, in which you would have shown ID. So when you do something from within your account on that exchange (e.g., buying/selling/trading), the exchange has records that associate those actions with your name. While your coins are "on" the exchange, what that really means is that they're held in wallets whose private keys are controlled by the exchange. In that respect it's no different from when you deposit your money in a conventional bank. In a literal sense, that money isn't yours; you don't possess it; you can't do anything with it unless you ask the bank to do it for you; and, worst case, if the bank goes under, you could theoretically lose it all. So when you trade on a CEX, just like when you, say, move funds from one account to another at the bank, they're all basically virtual transactions in which the CEX or bank just shifts assets that it possesses from one account to another, each of which is associated with a real live person in the bank's or CEX's records. Now think about what happens if you withdraw cold, hard cash from the bank. There's a record of the withdrawal, but once you have coins or bills in your hands, everything you do downstream of that is essentially anonymous, unless (say) the serial numbers of the bills were recorded or whatever. With crypto it's similar in that, just as your name isn't on the cash you withdrew from the bank, your name isn't on your crypto coins/tokens. As soon as you withdraw from the exchange to a wallet for which you control the private keys, your assets are no longer associated with a regulated address with recorded personal info. The address is just a string of letters and numbers, with no further identifying features. HOWEVER...the blockchain is, by definition, an immutable record of every transaction that has every occurred on that network. So if (say) Joe Smith starts with some assets at Address A at the exchange, which has his name associated with it, and then moves them to anonymous Address B, and then anonymous address C, or whatever, that chain of transactions will be visible for all to see (with the exception of a very small number of privacy-focussed blockchains like Monero, but that's a conversation for another day). At minimum, it will usually be possible to say that Address C interacted with Address B, which interacted with Joe Smith's Address A. So while addresses B and C are indeed anonymous, if someone really wanted to track things down, they could trace the transactions back to the exchange, and if that somebody was a regulatory body, they could then potentially subpoena identifying info from the exchange. Now, back to the original question, in a technical sense, as far as the blockchain is concerned, ownership is solely defined by who holds the private keys to the assets in question. If I have the private keys (= passphrase, more or less) to some coins, then I have the power to control those coins, and therefore they are "mine". Your coins are "yours" because they are associated with an address for which you control the private keys. Nothing more, and nothing less. Names are irrelevant. (The blessing and the curse of blockchain transactions is that they're irreversible, so if I send my coins to the wrong address or get scammed or whatever, there's usually no recourse. As soon as my coins are sent to an address for which someone other than me controls the keys, I have no technical ownership over them. Even if there were personal information affixed to them, there's no practical way to get them back if they end up in the wrong hands.) To your second question, the Ethereum network is just a platform. It (and all blockchains) can account for a practically unlimited number of addresses. When you asked "if Joe Smith sends his BAT to the Ethereum network, is it the same address that I'm sending my BAT to", that's about the same as asking "if Joe Smith sends his email to Gmail, is it the same address that I'm sending my email to". That is, the question doesn't actually make sense. Point one, you don't send your email TO the Gmail; you use Gmail to send email. Likewise, you don't send BAT or any other token TO the Ethereum network; you use the Ethereum network to send tokens, including BAT. Point two, Joe Smith presumably has his own address that's distinct from yours. Of course, if he knows you or wants to for any other reason, Joe Smith could send email to your email address, just like he could send BAT from his Ethereum address to yours. Let me know if this is helping or making it worse haha.

hstarbird11

As long as they're on a CEX, they will be swapped automatically. If not, you have to move them manually, but they'll come out with instructions on how to do that sometime in May.

CointestMod

* Relevant Cointest topics:[Binance](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_binance), [Coinbase](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_coinbase), [CEX](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cex), [USDT](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_tether). * Relevant subreddits: r/binance, r/Kraken, r/CoinBase, r/Crypto_com, r/DEX, r/ProofofStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/1c7t5aq/why_the_big_four_apparently_wont_audit_tethers/?sort=controversial). Doesn't work on mobile.

EOD42024

I swear sometimes its just bots talking to other bots... Practice safe CEX, learn self custody.

coinfeeds-bot

tldr; Landshare, a tokenized real estate platform, has launched a major campaign to list its LAND token on several centralized exchanges (CEXs) in 2024, aiming to make real estate investment more accessible. The initiative, approved by the Landshare DAO, will enhance the token's accessibility and liquidity. The first CEX partner announced is MEXC Global. This move is part of Landshare's strategy to bridge traditional and digital markets, providing a user-friendly ecosystem for its community. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

FoolHooligan

oh wow. news to me. good thing I always pull out when I CEX

gr8ful4

Conveniently ignoring all big CEX scams like FTX, Mt. Gox and hundreds more?

The_One_in_the_Bunk

There is some irony here losing XHV by holding it on CEX.

TheHarinator

Well, by priced out, I mean a deterrent to market activity. Consider this hypothetical scenario : its 2050, and BTC is trading at $5 Million. (that's around 80x from today) I have $2000 dollars and I want to buy some bitcoin - around 40k sats. I get some on a CEX and now want to transfer it to a self custody wallet. I see what the fee is - its around $500 - i then decide to keep it in the CEX because a round trip would immediately deplete 50% of the BTC i just bought. Therefore I *really* don't hold the BTC i bought. Now you could say I'm crazy since I'm saying tx fee could be $500 (at non-peak traffic). But today (pretty normal day) Tx cost is around [$13](https://ycharts.com/indicators/bitcoin_average_transaction_fee). I'm sure early BTC TXs didn't cost as much. Tx fee back then probably costed [pennies or lower](https://www.statista.com/statistics/731459/bitcoin-transaction-fees/). So in my mind Tx cost trends up over time. in this scenario where BTC 80x'd , the TX cost only has to go up 40x to reach that $500 range. An alternate way to think about this is : today I can afford only $100 of BTC.. but I would have to deal with a $13 fee.

imlynn1980

I’m buying on a CEX q5hrs with trading profit, and withdraw to cold wallet about once a month. I do it q5hrs because it the easiest way to rotate the buy time of the day automatically.

gr8ful4

So you are a liar when you say you never had problems with using those CEX: HTX closed XMR withdrawals > 6 months, Poloniex several times insolvent has closed XMR withdrwawls > 6 months. Binance has closed XMR withdrawals > 3 months, OKX more than one year. KuCoin closed for months.

kirtash93

One of the best CEX without no doubt!

DistributionSharp1

After 8 years in the crypto space it's safe to say that no legit CEX will call their customers. Sorry for your loss and I hope you learned something out of it.

gr8ful4

Are you still using a CEX? Scams come in many different flavors.

gr8ful4

1. CEX 1. Pig butchering 1. Ransomware

TeaBreaksAnonymous

This is why I keep my coins on a CEX and enable all authentication touch points.

Henrik-Powers

Think we are a long way off from there, would have to have almost complete adoption, but I guess I could see a type of CEX you could use but your market would need to be for those who use crypto day to day, when the federal reserve or governments start issuing their own CBDC then it would be soon.

Ljcharm

$MVERSE you don’t need a CEX to trade, check them out :)

jawni

>Man you are talking to a Monero guy. I am not using any CEX. All main projects are community funded. My hardware wallet is DIY. Well then I'd say you're definitely in the wrong subreddit.

gr8ful4

Man you are talking to a Monero guy. I am not using any CEX. All main projects are community funded. My hardware wallet is DIY. Reddit is the only shitshow I use.

ProgrammerNo4662

ALWAYS REMEMBER, NOT YOUR KEYS, NOT YOUR COINS! NO ONE EXCHANGE OR ETF IS COMPLETELY SAFE, DO YOUR OWN CUSTODY IN COLD STORAGE SOLUTIONS! WITHDRAWAL YOUR COINS FROM DEX/CEX's

ResponsibilitySea327

It doesn't matter in the sense you are implying it would matter. Your ETF shares are indexed to the price of BTC. Not by any specific BTC token. Meaning your ETF is redeemable in cash and cash only. This isn't any different than your gold ETF being affected by a Brinks heist. If Coinbase"s custodial service was ever hacked, all bitcoin owners would suffer equally (CEX, DEX, c ETF, or paper wallet holders).

Extra-Ad9475

The ETF will have to rebalance based on how much money is invested in total... as soon as the private keys touch any computing device they can become a target. Even hardware wallets or air gapped environments aren't 100% secure and have become a target in the past. All it needs for them to slip up just once and that's it. Personally I would never hold Bitcoin in an ETF or even a CEX, I believe in keeping my own private keys secret. 95% of people probably don't care though and it'll be just less stress for them.

ResponsibilitySea327

Not everyone gets it. It's ok. But think about it as a global finance connected on/ramp. Otherwise large swaths of the financial markets are cut off from buying BTC without on ramping through a CEX. The majority of the world's financial services are cutoff from CEX/DEXs.

Ace2021

Now if only Gemini wasn’t a trash CEX.

Rey_Mezcalero

Koinly and CT couldn’t handle short selling and was giving me vastly opposite results. Easier and more reliably to just dump from the CEX and sort it in Excel

Johan544

Being so worried about it and freaking out to make sure every little transaction you make is properly reported and the amount in taxes is exactly what it should be is the height of foolishness. The IRS will not have time to go through every single one of your CEX or DEFI transactions to see if you messed up somewhere along the line. They'll see how much you bought of crypto with fiat, how much you cashed out, and calculate how much you owe based on those numbers. You're all cowards who shit themselves at the mere thought of getting an IRS phone call/e-mail and it shows. No wonder you're all terrible traders. Yes, try to get a rough estimate of how much you owe in taxes and pay it, but don't lose sleep over it. There are literally millions of people in our shoes right now, and the IRS does not have the wherewithal to investigate all of their transactions.

uncapchad

On/Off ramping is the issue more so than the trading of. With full on AML enforcement you have to go to a registered CEX to off-ramp. Even then, banks can block money coming into your account or leaving it. Proof of source of funds is key. So depositing from a DEX to a CEX can also create issues as you cannot prove source of funds.

uncapchad

Sounds like you're well organised. There ought not to be an issue off-ramping if it came from a licensed CEX which would have KYCd you. There's a shock coming for some. Trading is one thing but trying to off-ramp now is a new ball game. AML enforcement at Exchange and Bank level is going to leave a lot of people either unable to off-ramp or getting a lot of attention from the authorities. Here in the UK if they don't like where your funds came from, they either freeze your account or just debank you.

gr8ful4

Both the state mafia with their enforcement arm of regulated CEX and the mafia with their unregulated CEX are third parties that will want a cut from your profits. Satoshi gave us tools to route around third parties. Only fools (the majority?) are using those third parties thinking that Satoshi's invention was all about increasing fiat gains on said entities.

BitcoinAcc

What do you mean by „swap“? Do you mean trading for fiat or other crypto? For that, you would need the app of one of the crypto exchanges, not a wallet app. A CEX app is not a wallet. And a wallet app (like Blue Wallet) is not a CEX app. You would use the CEX app for trading, but that means that any coins you trade for are managed solely by the CEX (on their own servers, not locally on your device) and you do not have the keys for them. If you want to control your coins yourself (i.e. control their keys - you might have heard the catchphrase „not your keys - not your coins“?) then you need to withdraw the coins from that CEX to your own wallet. Blue Wallet can be that wallet, once you are ready to hold your own keys. (People usually recommend to only withdraw from the CEX to your own wallet once you have accumulated a non-trivial amount at the CEX and not withdraw every small 10$, or 50$, or so purchase individually. The reason is to save both on withdrawal fees now, that you pay to the CEX, and on transaction fees later, when you later send out of your wallet again.)

CryptoWarfare11

I purchased directly off Uniswap. No buy tax, so just gas fees. It's still a new project, barely a month old, so there are no CEX listings yet.

fuckoffgetmoney

Can r/cryptocurrency reccomend me any project on DEX or newly listed on CEX? I think 10x is possible.

Buydipstothemoon

If you store your coins on a CEX I can't help you.

KateR_H0l1day

Have heard the same about many CEX’s but personally I’ve never had an issue, but we’ll see.

SoftPenguins

This is why I have a security key on my gmail. I couldn’t imagine taking such large risks with my security with such a big bag. You live and you learn I guess. Some have to learn the hard way. Hope by some miracle CEX can freeze the funds.

Ok-Grapefruit1284

I figured out yesterday what people mean by the spread on cdc. Didn’t listen and look into it prior to yesterday. Sold 10% of my SOL thinking I was smart but when the sale went through it was at a few dollars less than what the price was listed for. Caught me by surprise. Didn’t lose too much and reinvested and it’s all good. But I’m now trying to figure out the best way to move my coins so that if things take off (or not) I don’t have that same issue. This is for what I intentionally keep on a CEX…separate from my wallets. Thoughts?

RefrigeratorLow1259

Yep, I've been living in Pattaya 🇹🇭 for 2 years, had enough of the 🇬🇧, can rent here a spacious 42sq m condo with balcony, access to swimming pool for $220 a month, food is dirt cheap and you only need t shirt shorts and flip flops....If you don't go mad you can easily get by on $1000pcm. I still use my CB for crypto and have a Bitkub account which is a Thai CEX. I use wise to send funds over here to my Bangkok bank account. Visa can be a problem if you're not over 50, but you can teach English if you can get a language school visa, otherwise you will have to go in and out of the country every 30 days Cambodia probably...

rinaldohack

Maybe he know, he just don't know the terminology. CEX is Centralized EXchange. A forex-like site where you buy and sell cryptocurrency. For example Binance. The opposite is DEX, or Decentralized EXchange, where you pay people directly to buy cryptos. For example now defunct localbitcoins. Or now people use Uniswap (?). Or even if you pm me to buy BTCs, you send me paypal or whatever, I send BTC, it is considered decentralized exchange. (No I don't actually sell BTC. Especially via PM.)

gjkk95

I think they might if OP quickly after getting his police report, engage a law firm to apply for a urgent freezing order from his local court and then submit it to the CEX. CEX usually responds to court order and might then freeze the account longer until he gets the full order to seize the asset back. My concern is the amount is too low to go even go through this process or the CEX can just decide to ignore his case and there's nothing much he can do about it. Good luck OP

dida2010

Coinbase or Binance are CEX, What is your CEX company? you need to let them know

Scoorzia

Sadly there is nothing you can do. You can contact CEX’s inform them that the adress has stolen funds and they may block it?

Buydipstothemoon

You judge a CEX by a short downtime ? Kraken exists for over 10 years without significant scandals or hacks. Good luck finding another CEX that can say that. Besides that : never ever store your coins in a CEX. You wanna panic sell? Swap your coins on a DEX into a stablecoin.

koh_kun

I see issues like this on Reddit from time to time but I could never understand it. Are you saying the bank is not letting you transfer your money to a CEX or not pay directly from your account (I think they call that debit in the US) to some kind of crypto selling service? Either way, it sucks.

CointestMod

* Relevant Cointest topics:[Binance](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_binance), [Coinbase](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_coinbase), [CEX](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cex), [USDT](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_tether). * Relevant subreddits: r/binance, r/Kraken, r/CoinBase, r/Crypto_com, r/DEX, r/ProofofStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/1c367z0/public_audit_of_xmr_reserves_on_april_18th/kzek9ke/?sort=controversial). Doesn't work on mobile.

mossyskeleton

Cheers! I swapped my CEX Bitcoin for SOL right at the top! Hooray! At this point I'm committed and will just wait it out. Guessing it will slingshot after BTC cycle peak.

uncapchad

Self-custody is always best although as you've seen can create other headaches with fees. To trade BTC back to cash at some point, you'll have to use a Centralised Exchange (CEX) which the UK govt approves of. You need complete a quiz on a CEX and also make sure that your banking is linked in your CEX account which can can take days set-up. And again, can't stress it enough, your bank, may still refuse accepting any cash coming in even though it's from a govt approved CEX. This can range from simply blocking the transaction to freezing your account whilst they "investigate". Make sure you're on/off-ramp bank is crypto-friendly and check their rules before adding any banking info to a CEX.

Redac07

Bro give the Iranians a fucking break. They don't like their regime either but they get brutally killed if they protest. Crypto was meant to be for everyone and that includes the citizens of Iran. It's a different tale if the Iranian government comes with a CBDC and a CEX accepts it.

Successful_Craft3076

It is a very complex issue. As an Iranian, it is heartwarming to see some CEX add the option for us to trade. Most simply won't accept Iran's IP. Which only forces us to use VPNs and back Channels. Most need KYC and then reject you based on your nationality because Iranian government is under US sanctions. Not Iranian people I must add. We are not sanctioned. But most companies don't do business with Iranians fearing they might get sued by the US authorities. As those same people might have ties to the government and it is a risky business. One might argue it was crypto's initial vision to establish a global, regulation free, trading system. But on the other hand want it or not for a larger adaption we gonna need regulations and US will not like its enemies to avoid sanctions using crypto. The real victims here are us, ordinary Iranians, who hate our regime, but must pay the price for their aggression, corruption and crimes. Both inside our country and at the global stage.

4biddenpleasure

Governments do not like Monero. Most CEX I believe have delisted it.

gr8ful4

And as it will not be listed on CEX anymore and they have not yet learned to use DEX (thanks to their laziness) they will have to watch the rocket start from the ground.

gr8ful4

You seem to have missed that Monero is already delisted from almost all CEX including a partial delisting on Kraken. Price is more or less stable depsite all that. So what other doom news do you expect to hinder Monero's organic growth?

gr8ful4

#Monero is the network with the most reachable nodes even before Bitcoin. ***Monero is the most popular cryptocurrency.*** ___ Bitcoin maxis and bcash big blockers and even Buttcoiners love it and so do all the other degenerates that need a place to store their mad gains. It's just that big corporations and governments relying on surveillance capitalism/communism hate it and therefore fight it with all kind of attacks. One such attack is price suppression with infinite fiat money they print. **Judging success or popularity in the current market won't get you anywhere.** It's super inflated super thinnly supplied C coins. Fractionally reserved CEX and stable cois and Wallstreet pumped ETFs.

Etrensce

Anything more than logging on to a known brand exchange that has a semblance of customer support is too hard for retail. Given that on boarding people on to CEX is already proving difficult (as can be seen by the substantial inflow of capital through ETFs), how can you come to the conclusion that retail is anywhere close to using DEX.

setzer

It’s very well known. Monero liquidity is low however due to not being listed on more popular CEX. If it were on Coinbase and Binance, XMR would likely be in the top 20. I don’t know if this will change in the future. My suggestion is to only buy if you intend to use it. As an investment it might well continue to underperform, despite the tech being sound.

trimalcus

Because regulators want it out of the loop by banning any fiat on ramp CEX Because there is no meme coin on it and hype pump Because it is not very straightforward for average user to use. For full privacy you need to download a 150GB blockchain and it takes time to synchronisé Beyond that it is the best blockchain for paying goods in my opinion because it gives you privacy Privacy is a right Having all your purchases and belongings accessible by anyone (public) is not only a drawback but clearly a safety threat for yourself

davideb263

I DCA directly on bitbox02 via pocket bitcoin. I just hodl so I don't care if I have few utxos in the 0.01-0.05 range as I can wait for a low fee period to consolidate once in a while. This approach gives me maximum control over my sats with minimal kyc and I without depending on any CEX. That said I'm perfectly aware that I pay a premium for this but it's fine for me and for now. The way you acquire BTC can and will change to adapt to future developement, but what's important is self custody and for this the bitbox02 is a solid choice.

Main_Sergeant_40

I’ve switched completely to IBIT ETF. I’ll never have to worry about a hack, it’s FDIC insured now. I can buy it in my ROTH for tax free gains. Trading fees on CEX is too high too

unduly-noted

You’re saying value and price aren’t correlated, implying Solana is overvalued, and dismissing positivity from investors as “nonsense”. My working theory is most people that think Solana has no value has not actually used it. Maybe they just traded it on CEX, if that. They haven’t experienced how nice it is to actually use it on a DEX or other dapps. My experience in DeFi with Solana is wonderful (under normal circumstances, ofc). If you’ve actually tried it and still think it has no value, I’ll disagree with you but of course you’re entitled to your opinion and I respect it. But the opinion of those that haven’t actually used it means nothing. Btw saying “everyone will continue to pile onto Solana like they’re told to” is pretty inaccurate. Solana probably gets the most hate and controversy of any chain of any I’ve seen. At least on Reddit.

RawDick

No data on DEX pools so a pool might not existing for any pairing. You should send it to one of the CEX that has it listed. It’s still being actively traded right now so you can easily swap it for ETH/BTC or stables.

coinfeeds-bot

tldr; Crypto trading volume hit $5.3 trillion in the first quarter of 2024, with centralized exchanges (CEX) accounting for $4.8 trillion and decentralized exchanges (DEX) for $523 billion. The CEX sector grew by 96%, and DEX platforms saw a 76.5% increase in volume. Binance dominated the CEX sector with over $2 trillion traded, representing 43.4% of all Q1 trading volume, while Uniswap led the DEX market with 31% of its trading volume. Despite the overall growth, the DEX to CEX volume ratio decreased from 12.1% in Q4 2023 to 10.9% in Q1 2024. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

santuccie

Only the CEX exchanges. and that’s because they have control of fiat, not crypto.

payjoe134

When I need to transfer cryptos between exchanges. One of the best crypto for this is Litecoin. Fee is next to zero, and every CEX has a lot of LTC. Never had a problem with it.

jaykay2

Comments above have covered all you need to know but just watch what happens in the next 6 weeks. App launch, massive deal announcement and much more. Second CEX coming soon too with everything agreed, just waiting for the date.

marciomavungo

CEX: Bybit.

Dragon_8888

It looks interesting! The first meme coin on Casper with a listing on CEX. This could be a hot low-capitalized opportunity. 🚀

Django_McFly

For CEX I just use Coinbase. For DEX's, I don't care. I just use aggregators and they find the best price.