MONERO.CX | MONERO AND BITCOIN SWAPS | FAST | NO LOGS | CHEAP

[monero.cx]

Opening the first web, it seems like an instant exchange, maybe a bit like doing a swap. I did not find whether I should register or like DEX in sync with a wallet. It seems you need to review how this works.

This isnt a dex, and yeah it is instant. You just open the swap, then send between min and max and then you get the proper amount sent to your wallet.

[kawetsriyanto]

- I see no space for the current news or updates on the site. I think it is needed to have since it is an important part. People instantly know about everything happening on monero.cx from the news space.

- Do you have no plan for other coins? Only BTC-XMR? In my opinion, to improve the number of users faster, you need to add other top coins. By the way, I like the concept of a simple site, but it doesn't mean having two kinds of crypto coins only. IMO

[KryptoKings]

Low fee, no kyc requirement, fast conversion. These all are the features that makes monero.cx best exchange available.
I am really fed up of doing kyc as it runs the risk of losing your important personal data if exchange get hacked or it is sold by exchange.
Minero.cx will set an example for other exchanges too and they will also reduce their exorbitant fees.

[monero.cx]

- I see no space for the current news or updates on the site. I think it is needed to have since it is an important part. People instantly know about everything happening on monero.cx from the news space.

- Do you have no plan for other coins? Only BTC-XMR? In my opinion, to improve the number of users faster, you need to add other top coins. By the way, I like the concept of a simple site, but it doesn't mean having two kinds of crypto coins only. IMO

You bring up good points here. First off, we will add some news and updates on the second post. Fixing some stuff currently.

Second, it will only ever be Bitcoin and Monero. We are not interested in expanding to other coins currently. This is our niche. Why do we do this?

Fun fact: All other instant exchanges simply take your money, deposit it to a centralised exchange, and then withdraw it to you. At monero.cx, we fully get rid of this unneeded middleman. You are trading your coins against our coins, therefore a third party can not have any interaction or cause issues like KYC.


We believe that the above approach is not very good as you are doing something the customer could do on their own, in pretty much the exact same time. Our entire goal is to be transparent and easy so that you know what is going on behind the scenes.

[Febo]

You should make a post about it on Monero subreddit, that is the place where most Monero community hags. https://old.reddit.com/r/Monero/

[LoyceV]

All other instant exchanges simply take your money, deposit it to a centralised exchange, and then withdraw it to you. At monero.cx, we fully get rid of this unneeded middleman. You are trading your coins against our coins, therefore a third party can not have any interaction or cause issues like KYC.

What do you do when you run out of either Bitcoin or Monero?

Just realised we have the max part missing. Thanks for letting us know, this is a dynamic rate based on our reserves and will be fixed shortly.

There's still no maximum on the website.

We have you trade against our personally funded pool and have no problem providing proof of reserves.

Great! If you want I can confirm the approximate amount from a signed message. Feel free to email LoyceVswitzerland@protonmail.com (sign with the date, your site's name, my name, and anything else to make clear what it's about). I won't post your address.

I want to point out I did not receive a "proof of reserves".
Update: see here.

[AdolfinWolf]

We charge a 4% fee on exchanges,
making us one of the most affordable
ways to get Monero. Compared to
the high markup of sites like
LocalMonero.co, a 4% conversion
fee is a great deal to get the most secure
cryptocurrency around.

Are altcoin to altcoin trades really that expensive? I'd imagine that binance has cheaper withdrawal fees for XMR than that, no?

The design is lacking, especially compared to your main competitor (fixedfloat), but I can appreciate what you're creating here. XMR.to left a gaping hole that no one has really filled yet. (I guess fixedfloat attempts it.)

It would be interesting if you found a way to implement atomic swaps, although too nich-y maybe (but you are already very nichy)

https://www.reddit.com/r/Monero/comments/ly62tk/let_there_be_swaps_public_xmrbtc_atomic_swap_demo/
This actually looks so promising I might fiddle around with it myself & host a small demo.

[Chlotide]

Sounds interesting. Was just wondering where do you get the conversion rate from ? API ? You change it manually every few hours ?

[LoyceV]

We have you trade against our personally funded pool and have no problem providing proof of reserves.

Great! If you want I can confirm the approximate amount from a signed message. Feel free to email LoyceVswitzerland@protonmail.com (sign with the date, your site's name, my name, and anything else to make clear what it's about). I won't post your address.

I confirm I've received and verified a signed message that proves ownership of approximately 1 Bitcoin, on a recently funded address. I've removed the PM with the signed message.

This is the signed message:

monero.cx proof of funds. See TXID xxxxxxxxxxxxxxxxxxxxxxx. This represents about half of our total holdings, the other half being in XMR.

I've censored the TXID. Note that I haven't verified XMR-holdings.

[monero.cx]

Update: Minimum and maximum swaps implemented

[jamyr]

. . .

We are working on this reputation and are paying for honest reviews soon (manager will have a thread up shortly). Positive review is not what we are insinuating, we want feedback and honest reviews. It may just be the start for us but we will be here for a long time.

. . .

Is there an available thread created for this? Coz I've got a thing or two I was ready to recommend to add to my blabbering but since I've seen you will be paying for such, I'd like to spit it out where its paid.   
(there aren't many service that pays while you honestly and sincerely slap them in the face! lol)


Oh and by the way.

Welcome to bitcointalk.org

[@monero.cx]

I am not monero.cx from [Suspicious link removed] from bitcointalk

~

jamyr wanted to tell you to update your contact information, instead of

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512

SUPPORT:
@monerocx on Telegram
@monero.cx on BitcoinTalk.org

If you have an issue with your exchange, please include the exchange URL and the PGP-signed proof when you contact staff. This will greatly ease us in the process of assisting you.
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iQJEBAEBCgAuFiEEEyVsMCdVMGbjcEYjb7ne4lR/j8IFAmBgkVIQHGFkbWluQG1v
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eE6gaAfFjw==
=+0tU
-----END PGP SIGNATURE-----

Update it with your unique bitcointalk uid which is:

monero.cx
https://bitcointalk.org/index.php?action=profile;u=3228521

[LoyceV]

I was waiting to post this for the bounty program, but that takes too long so I'll post it already:

Your exchange can be gamed!
If I create an exchange now, the Letter of Guarantee shows:

The current date is Apr 07 2021. Your swap will expire on Apr 09 2021.
~
Your exchange rate is 1 XMR = 0.00508826 BTC.
Your exchange rate is 1 BTC = 196.530837654 XMR.

Monero went up about 6% in the last day. With some testing in the past week, I got 2 signed Letters with about 7% difference in exchange rate, that were still valid at the same time.
So by collecting different Letters of Guarantee, someone can wait for Monero to go up or down against Bitcoin, and exchange to a coin that's worth more. Your 4% fee is a given, but not enough to prevent a few percent profit by sending it to another (instant) exchange.

This is the reason why exchange rates usually expire after at most 15 minutes. Your site offers up to 3 days, I don't think that's sustainable.

I'm still curious about this:

What do you do when you run out of either Bitcoin or Monero?

[BlackHatCoiner]

Hi, is this still working? Because, I get this error once I create a new exchange: