Binance to Delist Monero, Zcash in 4 European Countries

theblock.co

29 points·ce6e22009a8b··8 comments

Privacy but only when it suits us. This validates the use case.

Ironically it might increase privacy for naive users, as they won't make the mistake of making sensitive Monero transactions using an online exchange wallet.

Main reason why crypto exploded was the easy ness of it and not real advantages.

I haven't followed Monero in the last years, I had thought it was one of the very few coins harder to track. What would be the optimal way to take the cash out then?

The real killer feature in Monero is privacy by obfuscating transactions. Using an exchange wallet tied to your government identity for private transactions defeats the purpose because a bad actor could access the exchange database, like with a traditional bank account.

Send money from the exchange to a local anonymous wallet (like the official one [0]), and then use that wallet for private stuff.

[0]: https://www.getmonero.org/

CEX are important because they provide liquidity.

Most people who offer XMR/FIAT exchanges (like localmonero.co) are trading on exchanges like Binance in the background, and sell it to you (privacy focused, anonymous user) with an additional commission.

Such traders aren't concerned about a "government identity being tied to an exchange wallet" and whatnot. They just want to make money, and liquidity is important for a currency.

https://finance.yahoo.com/news/binance-delist-monero-zcash-4...

Not only is Monero a private coin, it also has a miniscule cost of a TX.

Reply on news.ycombinator.com