Screw CEX, DEX is a better place for Monero Trading

Hi Everyone,

Just want to discuss and share some intelligent. From what we observe recently: https://cryptobriefing.com/eu-moving-to-ban-privacy-coins-report/

My guess is some major Privacy Tokens is going to be delisted by more Centralized Exchanges. Giving it a serious consideration. Well, personally I think: It is not a big deal when Privacy Tokens are delisted from a few Centralized Exchanges because there are many Decentralized exchanges with tons of liquidity for users to trade. It's also common sense that: People seek privacy tokens like XMR because of its capability to deliver private crypto activities, which seal all of the Owner's Identity, Amount, Asset Type, Balance and Trading History.

So the real question is: Can we still trade crypto assets privately as much as we want with abundant liquidity ? The answer is YES. One of the alternative options we believe to keep privacy coins on the exchange is Privacy DEX. I found this to be a good source for checking where these tokens are listed: https://kycnot.me/. I can name few of them: Bisq, EXch, Incognito Wallet, xchange.me

In addition, With tons of FUD in the market right now circling around CEXes is doing something our back with our own fund. And many of them has declared to unable to give back users their saving/ investment. I think CEX is not safe anymore to keep our assets there because they keep our assets in a master wallet. Nobody knows what has been done with those funds. The proof is clear that: Many CEXes have filed bankruptcy when a lot of users withdraw their assets. It’s a turning point now to move to DEXes when we want to trade, and Using the Cold Wallet seems to be more secure in this period.

Just like somebody has said: “Even if the sky is clear, a storm might come anytime. Plan ahead for the storm. And flying alone is not always a good idea”. It’s necessary for us to find shelter. I hope my sharing can help a way out if you still count on CEXes to keep our privacy tokens and at least suggest where to put your asset in.

Thank you for reading and join me if you want to discuss more regarding this topic. Hope you hear your constructive ideas or suggestion to protect our saving/ investment better.

submitted by /u/privaterence
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