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Monero @monero.town

sanqueue @lemmy.world

1y ago

Is there a way to swap other tokens to Monero?

Currently if you were to buy Monero in huge quantity, you’ll be flagged and there’s no DEX that offers Monero. What’s the best way to buy Monero now?

23 comments

You can buy other coins and then swap them for Monero. In fact any transaction you make with nay coin should go through Monero if you want to stay private.
You can use https://trocador.app/
To buy Monero you can use https://localmonero.co
- Wait. While Trocador is an option, it’s just a front end of CEXes, not a DEX. You might be still KYC’ed there, so it shouldn’t be the best (first) option. Just a possibly convenient option.
  
  There is no functioning DEX with Monero as of now, once there is I will recommend it for sure. I should have added the advice about only swap what you can lose with centralized services.

This should give you a lot of starting points. There are a bunch of options that run trustless with atomic swaps between various tokens and no KYC. I haven’t used them, as a disclaimer, as I’ve always bought person to person via cash, but there options on there for atomic swaps from Bitcoin to monero, eth to monero, etc.
- Thanks but I can’t seem to load the site
  
  They mistyped the link and forgot a "c"
  KYC stands for Know Your Customer
  kycnot.me is the correct link
  The below link is to their .onion site but it seems to be down. If anyone knows the maintainer, they may want to reach out. http://kycnotmezdiftahfmc34pqbpicxlnx3jbf5p7jypge7gdvduu7i6qjqd.onion/

Check this directory if you want to deep dive, kycnot is also a good directory with good due diligence.

It's not a straight forward process based on my experience (im not a highly technical user and not a dev). I haven't seen any DEX offering to swap tokens to MOnero given that most DEXs are not on Monero chain. And many CEXs are also not offering Monero due to regulatory issue. There are some CEXs you can use such as MEXC and TraderOgre using USDT and BTC as XMR's pair. I'm not aware that you will be flagged for buying XMR in huge quantity..which platform would flag that if you dont mind me asking.
- XMR/BTC is easy on Bisq, a DEX but BTC fees are crazy!

Atomic xmr BTC exchanges might interest you
- Didn’t know such a thing exist

See also: https://monero.town/post/942859 How to sell $300k+ Monero without origin of funds?
- This is interesting. Is there a way to bridge the tokens out to other chains too?
  Edit: found out you can use exolix to do this
  
  When trying to swap something to XMR (esp. a large amount? or at a small CEX?), it seems that there is always a possibility that the CEX (which may claim you can swap any amount) may not actually have enough XMR.
  (They might be offering to sell Monero, when they don’t have enough.)
  PS. Historically there are a few warnings: https://metager.de/meta/meta.ger3?eingabe=Exolix%20Monero

It's been some time since I bought monero for the last time but when I did localmonero was the perfect place for me ..easy to use, fast do buy and I just deposited to the guys account and done..

23 comments