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

submitted 2 months ago* (last edited 2 months ago) by prancing389@monero.town to c/monero@monero.town

15 comments fedilink hide all child comments

Nihilist puts out another very informative article, great work!

you are viewing a single comment's thread
view the rest of the comments

[-] Ammortel@monero.town 1 points 2 months ago* (last edited 2 months ago)

OK centralized exchanges and chainanalysis know that I own monero ?

Then what ? How is it bad ? They still can't figure out what I'm doing with it. The maximum they could ever tell is that I am spending some. They couldn't tell in what amounts and to whom.

My privacy isn't affected in any way.

[-] nihilist@monero.town 1 points 1 month ago* (last edited 1 month ago)

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

[-] jay_edwards@monero.town 1 points 1 month ago

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

[-] nihilist@monero.town 1 points 1 month ago

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

[-] owe_addams@monero.town 1 points 1 month ago

so, on Centralized exchange you reveal nothing or what? in my opinion, that's use to better instant exchanges, then. There is like, you swap to a liquidity provider, no registration and KYC, and transactions might be not traceable

[-] jay_edwards@monero.town 1 points 1 month 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