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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[–] admin@monero.town 7 points 3 weeks ago

Sometimes Trocador when I need to pay for something that doesn't accept Monero. If you use the ref-link in the monero.town sidebar it also helps fund the site without swaps costing any extra!

[–] oliver_twisted@monero.town 3 points 3 weeks ago (1 children)

Has been a while since i needed to swap anything to get monero since localmonero came about and now haveno.

[–] jay_edwards@monero.town 2 points 3 weeks ago

Good point I should admit. I also started using Haveno, though, sometimes instant crypto exchange seems more convenient

[–] shortwavesurfer@lemmy.zip 3 points 3 weeks ago (1 children)

Yes, primarily because I buy every single month, no matter what. And so I always just swap USDC for Monero.

[–] owe_addams@monero.town 2 points 3 weeks ago (1 children)

SO, what exchanges do you use?

[–] shortwavesurfer@lemmy.zip 3 points 3 weeks ago (1 children)

Trocador

[–] owe_addams@monero.town 1 points 3 weeks ago (1 children)

and which exchanges you use on Trocador itself?

[–] shortwavesurfer@lemmy.zip 2 points 3 weeks ago* (last edited 3 weeks ago)

The highest rated one I can that has insurance with the full shield icon.

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

I use them. You mentioned Exolix, that's a good one. Trocador is perfect aggregator to choose the best exchanges for swapping. I guess, any exchanges with good rating could be chosen for regular use

[–] jet@hackertalks.com 1 points 3 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 3 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 3 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 3 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 3 weeks ago (3 children)

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 (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 2 weeks 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 2 weeks ago

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

[–] Wizard@monero.town 1 points 2 weeks ago

I dont buy on them but i trade on them sometimes when somebody doesnt take xmr. eventaully ill probably set up basicswap and go that route though.