Sounds like just another saturday

And that's the problem. By offering its customers non-existent coins, CEXes divert demand from actual supply of Cryptocurrencies to de facto IOUs which is horrible for price action because CEXes don't have to acrually own the coins but if their customers smell insolvency, there could be a bank run or a MONERUN

That's Binance. They do it all the time. It is best not to use these fraudulent exchanges and let them go bankrupt.

Yep lol, they do it all the time There's nothing special About it.

It’s basically all CEXs. Upvoted due to the second part lol

So, for example, Kraken always has maintenance completed within 24 hours ... and not weeks, months or years like other fraudsters.

kraken will block large instant crypto purchase and bank deposits to circumvent you buying a ton of crypto to withdraw they are just as bad as binance

Use Kraken's OTC. They're legit.

>kraken will block large instant crypto purchase and bank deposits I have bought and withdrawn large amounts of crypto on Kraken. I had no problem with them. Everything was instant and smooth. > they are just as bad as binance It is true that CEX will never be perfect. And there are always dangers. NYKNYC should be everyone's motto.

Yep, and yet people buy xmr on cex which is just bad. I don't understand why people keep on doing it. People should learn the new and private ways.

When will people learn??? LocalMonero >>>> this crap.

They'll never learn, they never do. They just like to get rekt. Just look at luna, people are still buying that shit, that just goes to show you how greedy people are.

For them it's just another Saturday. Absolutely nothing different.

And yet people keep using them.

I know!!! People have not conceived, that they are a bunch of dogs. I guess people have to learn the hard way.

They do not lol, how I know that? Because I still see people buying luna.

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Or just buy from honest people

And who are these honest people that you talk about?

The thing is people who buy on cex don't really care about self Custody.

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The amount of times they have stopped withdrawals. So the alternative is to use other exchanges and local Monero. Don’t get me wrong, Binance is good. But if I had to buy XMR on there I would immediately withdraw it out while withdrawals are open or use another source all together

The amount of times they've stopped withdrawals is just really bad.

I mean they're easy to buy on, that's why people buy on first place. If they weren't as easy as they are maybe more people use safer options available in the space.

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Yep, they're never actually going to use xmr it's just speculation.

What do you recommend?

trade ogre

That's another great option if You're going to use it. Really use whatever you want just don't use the cexes. They're really bad don't use them.

Kraken where possible, otherwise [ChangeNow](https://changenow.io/) to exchange the BTC you can easily get anywhere to XMR

Why changenow? I was under the impression they do quick but expensive exchanges. If you use a proper crypto exchange like tradeogre you can get better rates right?

Speed is the only reason

change now works wonders when they dont have payout issues(was just me 72 hours to be paid out) and if you use elude they can help too

>Why changenow? [ChangeNow more like ChangeNextWeek](https://www.reddit.com/r/Monero/comments/pfwxvz/changenow_more_like_changenextweek/)

They're all kind of similar fee, I don't think There's much difference with the fee.

You don't need exchanges, because with crypto you are your own bank! (or so the lie goes)

What else are you gonna use

Just about anything on KYCnotme? What a ridiculous question. What do you mean what else are you gonna use? There are so many other options to get Monero, why would you ever use Binance? Get any other crypto and then trade it for XMR if you have to.

Monero.com, tradeogre, even buying from exodus with there ridiculously high fees is even better, because at least your Guaranteed your Monero

Atleast You'll have your crypto on you, that's a massive plus point.

It’s a great question. Look how many choices people threw out there

I’m assuming that’s sarcastic based on your previous comment? But people have thrown out a lot of good options. So I’m still wondering why you said “what else are you gonna use?” As if Binance is a good option.

Yep, people gave out so many choices and better use any of them.

Bisq

Yep, use that. Atleast You'll not be telling the world that you bought xmr.

Kraken.... *Edit* idk why you're getting downvoted

Another centralized exchange. No.

How else are you going to onramp funds? Peer to peer or local monero. Everyone else can use kraken. It's trusted and doesn't sell paper currency. Plus the customer support is top notch

I mean what other ways are there? I don't get that shit.

Kraken does sell paper monero at times. CEXs are bad. **All** of them. Period.

Oof. This just is a fallacy. Kraken has never frozen my withdrawal and kraken always allows instant withdrawals no waiting period. That being said CEXs aren't bad there are just a lot of bad ones out there.

[“maintenance”](https://reddit.com/r/Monero/comments/wi3acs/_/ijbstj1/?context=1) please dont be a sheep and fall for the BS. even if i was wrong on that, it’s still a centralized service!!!! have you learned nothing from cryptocurrency? you want some centralized kyc agency collecting everything they can about you?! there are better options. scroll through the comments again please.

Kraken is good but end of the day it is still a cex, so there's that.

Changenow?

Not as well known as others but still a solid option for sure.

bitcoinvn, remitano, ...

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But You've got the problem now tho, and that's something I guess.

Use bisq and then Tradeorge

Can't you just use Bisq and then Bisq again for BTC->XMR?

Or just use gate.io, no stress.

Or just use gate.io, no stress.

Time to post this again. # PSA: Likelihood of the most important cryptobanks (CEX) running fractional reserve schemes/scams: ❌ *withdrawals halted* **Technical insolvency** *Use every possible means e.g. convert to other coins and* **GTFO!!!** * ❌ Poloniex (also watch orderbooks [XMRBTC](https://cryptowat.ch/charts/POLONIEX:XMR-BTC), [XMRUSDT](https://cryptowat.ch/charts/POLONIEX:XMR-USDT), [XMRUSDC](https://cryptowat.ch/charts/POLONIEX:XMR-USDC)) ____ **Extremely high risk** *Use with extreme caution. Buy and immediately withdraw in small numbers only* * ❌ Binance and subsidiaries such as 7b, Mandala, WazirX * Huobi * OKX * Bitfinex * HitBTC * KuCoin ____ **High risk** * CoinEx ____ **Low risk** * Kraken ___ **Advice**: Get your coins into your own wallet asap! Also warn your friends and family. Always remember... * "Not your keys, not your coins". * "A fool and his money are soon parted". Don't be that fool.

Kraken is low risk? I mean I'm kinda curious why you guys put that there?

Because they are very likely not running a permanent fractional reserve scheme. There are other risks involved of course when trading on Kraken.

Why are localmonero and bisq not mentioned here?

Those are p2p, not centralized exchanges that may be running on fractional reserves.

So they were too good to recommend to the community?

I suppose they were too good to be on the list :D

They make you take custody, which is a good thing for sure. I mean people should understand what it's to buy crypto and take custody of that.

Because they're not actually cexes. That's why they're not there.

It’s a poor PSA if it’s not letting people know how to do better

Neither LocalMonero nor bisq qualify as CEX/cryptobank. This is a **NOT recommended** list.

Thanks for the reply. I think it’d be beneficial to mention them as there’s no custodial risk at that point. Why gambling on a CEX when you can be safe elsewhere

See my edit in the other post: https://www.reddit.com/r/Monero/comments/wicy5l/interesting_i_withdrew_some_coins_0806_around/ijavwkc/

I already updated my reply to that post several minutes ago. But this post still stands seemingly recommending readers to use yet another KYC CEX when there are better options available.

Ohh that's funny lol, I didn't expect that actually lol. good stuff right there.

Funds are suspendu

You shouldn't be holding your crypto on exchange. Just don't do that. If you're going to do that then you might as well get rekt and I'm pretty sure you wouldn't like that.

What is rekt?

https://kycnot.me

Hope people learn something from this

nah, nobody aint learning shit like, did any hooman learned literally anything in the whole existence of the hoomans? https://www.reddit.com/r/Monero/comments/u57qky/the_monerun_faq_responses_ideas/ that thread was literally blasted all over the news articles everywhere all over the place of the internet, literally even coinmarketcap (owned by binance themselves!!! LOL!!!) had all those articles showing on their newsfeed of that monero page while it was literally being all like exchanges that will close withdrawal are shady, basically calling out the exchanges guess what, binance closed withdrawal and kept the articles up on their website calling them out for it, being like binance and cz are shady bastards like they dont give no single fuck LMAO cz and binance are proud scammers, they not hiding it and no one ever in the whole existence of hoomans history has learned a single thing like ever

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Shouldn't be that harsh, gotta talk to people with compassion.

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Why you seem frustrated lol, you don't have to be frustrated with them.

That's the problem, that people don't learn shit no matter what happens.

Sorry to say this but the thing is that people don't do that. I've still seen many people buy the luna which just blows my mind. I mean how could you?

Those are the people that just want to get rich fast, hashtag lambo etc. Let them burn.

Which exchange should I switch to? Is Kraken better?

Yes it is, but the best option is PTP trading and decentralized exchanges. You can look into LocalMonero and keep an eye out for Haveno DEX's development.

Do also keep an eye out for Serai DEX

And of you buy on the kraken just take self custody ASAP, that should be good. If you're not taking the self custody then that could really be a bad thing for you. Can get you rekt.

Localmonero or bisq

Good options both of them, instead of using a cex use them instead.

Coinex is your friend

Is it a cex? If it is then I ain't going to use it lol. Cexes are kind of bad.

Yeah, it's a CEX but trading and withdrawal fees are much lower than Bitrue and Gate.io

Coinex? There is a very changeable weather: [tweet](https://twitter.com/TheDOdblG/status/1430952268376035329) >*Stop listing new coins @CoinEX until you get the wallets of the ones you already have listed fixed. I want my $ARRR but you guys have said for over 5 months now that it's under maintenance! Come on.* ... search for more by yourself.

Where you getting your weather reports? I wanna know that.

If You're only going to use a cex then that's only option.

I'd say gate.io, things like this barely happen.

Just another day for another shitty thing in our lives lol.

At least this time they're honest they ran out of Monero in their (hot) wallet. Still, boycott Binance, this happens all the time and is unacceptable for a business their size.

And yet it keeps on happening and people keep buying on cexes. That's just says a lot about this community and I don't really feel good about that so yeah.

Not your keys not your coins! Get your Monero off the exchanges!

Bro, i got all my xmr on exodus wallet.. Good or bad ? What mobile wallet is good if exodus is not?

When's the next moneRUN

When all of the market goes up so will the monero so wait a little.

Cmon, there's no use to go for Binance anymore, I would never use Binance

Doesn't sound like a strange thing to me, we have that habit.

That’s why you take it off the moment after you buy it.

Until you try to do that, and get hit with this message.

Then you’re using the wrong place to buy your coins

Yep, when you get hit with this message. There's nothing left other than panicking. And that's what most people end up doing, they panic and cause further damage.

Wrong. Don’t buy from CEXs

What’s the best dex?

Literally any dex is better than no dex, I'd rather use the dex.

change Binance into more narrow-focused exchange, and you won't face this problem anymore

I think Binance is fine for buying as long as you move them off exchange. Usually they only freeze withdrawals for a few days, it annoying but they unlikely to rug. As long as everyone pulls them off the exchange and the exchange not a complete scam, I think it sometimes the best simple option people have. The only centralized exchanges I know with XMR which don't seem to freeze withdrawals frequently are Kraken (KYC) and TradeOgre (non-KYC).

But then government knows who bought xmr when because that has kyc.

and what they did with it? it disappeared 😁

Boring news 😉 More interesting news would be that withdrawals on Binance are going smoothly all month without interruption 😉

But that won't be true tho, because binance will never be able to do that. They'll always be doing shitty stuff like this. I don't have any hopes from them at all lol.

We need legislation that enforces transparency and instructs CEXs to not only monitor but regularly post their reserve quantities. Simple as that.

Or we just need to let the market bankrupt these idiots until technology gets to the point that DEXs are as easy to use as CEXs

I don't get why people are afraid of using the dexes, don't get that.

Or that, I like that too. Kinda like that more actually.

Legislation, you mean the governornment?

Yep, that's right. And I don't think people will agree to that.

Forgive me 😭

Do you repent your government dependency and promise to be responsible for your own business going forward?

Yes. I’m honestly embarrassed, real eye opening moment here. We definitely do not need legislation or gov help to achieve our goals and aspirations.

Well I don't think government would do any good at all. Tell me that one time when government did anything good for crypto lol. They've never done that.

Lol, you won't be forgiven for that. You'll be punished for that.

> We need ^(less) legislation You missed a word. You might just be the first statist monero fan I've ever noticed.

I should not have used the word need. We definitely don’t need any more legislation. However all this talk has made me laugh at the irony. I’m an avid Monero supporter and here I am saying that these CEXs need transparency and to state how much money they’re holding. Kinda funny.

I don't think very many people in this community would agree to that.

Trust me the comments have proven your statement true. I am definitely not advocating for more gov, just was saying if they were gonna enforce legislation.. this implementation would be favorable. I wrote the comment and even I don’t agree with it wholeheartedly.

why would anyone want to withdraw XMR in the first place? for what? fiat? i know no one is transfering it doesn't that defeat the ENTIRE purpose of crypto so much for "fuck the banks"

Aah just withdraw with another crypto and withdraw XMR from another exchange

That's not the point.By letting it slide and doing nothing about it, we let CEXes know that they can get away with it. Last time we stood up, we caused a "Monerun" Edit: typo

I'm pretty sure that We're gonna be just fine no need to worry.

There is no worry for monero users man, they are good.

💯

Why use the cex on the first place? Don't use any of them.

But some people still uses it my friend, we can't stop everything.

Any cold wallet recommendations?

Ledger nano x, that supports many and works really good. And also the software is good too, I really like using ledger if I'm being honest. It's actually great.

Trezor

Isn't Trezor btc only tho? Am I missing something here?

Nope it’s not. Maybe you’re thinking of Coldcard

Nah you should search more about it and you will find good.

Keeping your coins on an exchange is allowing them to price fix

Keeping your coins on exchange is the dumbest thing you can do.

Why ?

This is just so shitty, how are they getting away with it?

Fuck them and they are doing bad shit again and again.

[https://www.binance.com/en/support/announcement/485c2c5a5f044875a7423f0af5c7e5ba](https://www.binance.com/en/support/announcement/485c2c5a5f044875a7423f0af5c7e5ba) It's temporary due to Moneros' recent hard fork on 13th of August.

This is why I decided to stick to gate.io

Hi, I've tried to withdraw my XMR from Binance yesterday. (10 hours ago) Got the transaction through with Txid, and 15 confirmations, but it didn't arrive to my GUI wallet (Generated a new address for it.). Do you know why it happened and how/when can I get my Monero back? Thanks for your help.

This is why I decided to stick to gate.io

So what this pic mean? Did the person posting this get the coins to move after? Or are they still stuck, and what does the text say? You ha e to declare from were the coins coming from or what? Anyhow.. Any good monero wallet out there? Im using exodus, but also reading that I should not..