this post was submitted on 07 Sep 2024

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Why can't I trust Centralised Exchanges, and random Monero nodes ? (blog.nowhere.moe)

submitted 3 weeks ago* (last edited 3 weeks ago) by [email protected] to c/[email protected]

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Nihilist puts out another very informative article, great work!

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[–] [email protected] 1 points 3 weeks ago* (last edited 3 weeks ago) (4 children)

small detail, centralised exchanges know how much monero went through them. for that particular account. If you KYC'd there, they know how much monero YOU bought or sold on their platform

[–] [email protected] 1 points 3 weeks ago (3 children)

isn't it better to use Decentralized exchanges or instant exchange services for Monero transactions in this case?

[–] [email protected] 1 points 2 weeks ago (2 children)

sorry for the late reply but yes, in a decentralised exchange you are revealing your info to an other peer, rather than to a centralised exchange (or subphoneable entity), that makes a huge difference

[–] [email protected] 1 points 2 weeks ago

ce what about centralized ones? I mean, you reveal a lot of info to the exchange team, which can be disclosed to any authorities. It's better to use instant exchange services

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