In this example I use LTC as it has low network tx fee's but you can use whatever you like that's listed on Kraken and supported by Cake Wallet.

Buying:

• Buy LTC on Kraken
• Withdraw to Cake Wallet
• Exchange to XMR

Selling:

• Exchange XMR to LTC in Cake Wallet
• Transfer to Kraken
• Sell LTC

Or you can just use DeX but this post was meant for people who still want to use Kraken for buying / selling Monero and you can do so indirectly by adding one easy hop.

I deal with high amounts and it's good to have your FIAT money coming from a regulated place in this scenario. I don't need money laundering case in my life.
Another problem is with liquidity on DeX and smaller exchanges.

Glad you understand it It's mainly for people who already use Kraken and don't want to change it for various reasons.
Remember: Monero if truly fungible, it doesn't matter if you get it from KYC exchange or from a dealer in dark alley, once you transfer it to your wallet, it can be used privately as if you have mined it yourself.

Monero can't be stopped on CeX because you would have to delist ALL cryptocurrencies that are interchangeable with Monero - Including Bitcoin.
What this regulators have done is made Monero stronger by eliminating price manipulations by exchanges that sold "paper" Monero.

I think there are some chain analytics that could be done with your LTC. If something comes in and could be related to the swap, it can be connected to you in some way, especially if it is from something illegal. I don’t think it’s a problem to swap and then deposit it in a different currency; it’s just that they don’t want XMR to be their platform. It might be regulations, but it’s still up to them.

The problem is that with "open ledger based" coins it's getting increasingly difficult to transfer privately. Some exchanges even consider CoinJoins "high risk" now and refuse deposits from these sources. This means that many users without much technical understanding are basically now transacting in full sight.

So government measures against Monero and other privacy coins should be energically rejected. Criminal use of cryptos, including privacy coins, is drastically overestimated.

Just to clarify one misunderstanding: The EU did still not ban exchanges from offering Monero. This "ban" will likely however be part of the AMLR package which is to come into force in 2027. The wording suggests that while privacy coin accounts should still be possible, they must be accompanied with stricter KYC/AML measures. But due to the MiCa regulations which already are in force, Kraken has transferred their EU operations to some other fintechs with MiCa license, and these seem to "preventively" already restrict privacy coins.

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Good resources to find lesser known exchanges supporting Monero are also kycnot.me and OrangeFren.

Edit: some smaller mistakes corrected. AMLR was already approved but indeed comes fully into force in 2027.

FIAT, Crypto, and any other tools, including guns, knives, and stones, should never be banned because criminals use them.  

If someone thinks otherwise, they should be banned and locked in a dirty jail because, you know, some humans are evil - so, just in case, we will take your freedom.

<spits on UK>

While I understand you can still do whatever you want, that doesn't change the fact that we are talking about them making sure you don't do it on their platform. I understand you are just having a trouble with EU, and that's fine, but why would Kraken take a stand when EU wants them to remove XMR, should Kraken just go "no" and be banned from EU for that decision? Obviously if asked then they are going to take that off, and won't even care about it.

EU just doesn't want to give it a platform, it's something dangerous, you can be a good person and using monero, but you also need to remember that there are way too many bad people using monero as well, we have proof of too many horrible people using it, so make it as difficult as possible, today it's kraken, tomorrow it's something else, as long as they can make it a bit harder.

XMR is brilliant at what it is designed to do. The authorities hate it but sadly its strengths are what will not allow it to thrive to gain mainstream adoption. People who desperately want to remain anonymous will use it but it will never gain mainstream adoption & go to the moon, as they say. It’s a real shame but I understand why they are trying to regulate it out of existence.

You can pay for CP or drugs even with Tether, as long as no metadata is attached to it. By your reasoning, we should ban every means of exchange, because there will always be people who use it for horrible things.
It's simply, impossible.


So, if I have a hidden gold stash, it will be worth nothing in the upcoming years? I will not be able to use it ?

Your logic is flawed.

As of today, the use of Monero is only increasing. Source: https://bitinfocharts.com/comparison/monero-transactions.html#alltime
Why ? because people don't care what you say, they need a tool for exchanging and Monero is the best tool.

So, you can take your FUD and shove it where the sun doesn’t shine - along with any of the three-letter agencies attempting the same.

People will continue to use it, just like they still use drugs and download the latest movies from torrents. Despite all the money and power the movie industry has poured into fighting piracy, it’s still thriving.
Globally, the "war on drugs" has consumed over $1 trillion since its inception about 50 years ago, and right now as I'm sitting behind my computer I can order any drug anonymously and get it delivered next day to anonymous parcel locker with just a few clicks.

You can keep spreading your nonsense, but these are the facts: Monero is unstoppable, and people want it because they need it.

Funny how the same bullshit was spread when Bitcoin was young  

/Over&Out.



https://www.youtube.com/watch?v=O6yeLNNVa4A