eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20

[logfiles]

But u have USDT ERC20 what makes it better then TRC20?

the reaason why i ask is because TRC20 is cheaper to use and more popular then USDT ERC20

The safety of the network, perhaps? When we look at Ethereum vs Tron. You know which one is a much better and less shady network when you don't consider the transaction fees. I think they don't go by the narrative of popularity but rather safety. That's why they were reluctant to even include support of Solana which took the crypto market by storm in the recent times

[hosemary]

But u have USDT ERC20 what makes it better then TRC20?

The answer to this question can be found in the post you quoted. They already explained what makes them not want to support TRON chain.

Now, they have ethereum itself and also three tokens (USDT, DAI and USDC) on ethereum network.
They don't want to support a new chain just for a single token. As they said, there is no TRC20 version of DAI and USDC will be unavailable on Tron network soon. Also, it seems that they are not interested in Tron native token.

Most likely not and specially if the purpose of supporting the whole new network is only because of 1 stablecoin (USDT).

[examplens]

But u have USDT ERC20 what makes it better then TRC20?

The answer to this question can be found in the post you quoted. They already explained what makes them not want to support TRON chain.

Now, they have ethereum itself and also three tokens (USDT, DAI and USDC) on ethereum network.
They don't want to support a new chain just for a single token. As they said, there is no TRC20 version of DAI and USDC will be unavailable on Tron network soon. Also, it seems that they are not interested in Tron native token.

I'm not sure that USDT on TRC20 is more popular than ERC20, except for a slightly lower fee, I don't have any special advantages. Even in fees, the difference has not been too big lately.
Currently, the process of necessary adjustment with the MiCA regulation in the EU is underway, and Tether has not yet done anything in this regard, so perhaps it is more important that USDC is listed on eXch.

[fillippone]

so perhaps it is more important that USDC is listed on eXch.

As an European u will go on trusting USDT more than USDC.
The battle Tether Guys are fighting is a right one, as MicaR regulation is detrimental to stablecoins.
The fact that USDT is not available in Europe means little to me.

[examplens]

As an European u will go on trusting USDT more than USDC.
The battle Tether Guys are fighting is a right one, as MicaR regulation is detrimental to stablecoins.
The fact that USDT is not available in Europe means little to me.

I also have the feeling that I will not feel the unavailability of USDT much, but if it really is banned from the EU, it will probably require additional checks to see if some service accepts Tether or if a conversion has to be done beforehand. So it cannot be said that there will be absolutely no impact of Mica regulations on my personal use.

[fillippone]

As an European u will go on trusting USDT more than USDC.
The battle Tether Guys are fighting is a right one, as MicaR regulation is detrimental to stablecoins.
The fact that USDT is not available in Europe means little to me.

I also have the feeling that I will not feel the unavailability of USDT much, but if it really is banned from the EU, it will probably require additional checks to see if some service accepts Tether or if a conversion has to be done beforehand. So it cannot be said that there will be absolutely no impact of Mica regulations on my personal use.

Even if an exchange decides to service European customers, they have to register with a local authority. This implies a lots of documents to be sent back and forth and the obligation to abide to the regulations enacted by each regulators.
Not sure it make sense for as lot of exchanges.

[Lucius]

so perhaps it is more important that USDC is listed on eXch.

As an European u will go on trusting USDT more than USDC.
The battle Tether Guys are fighting is a right one, as MicaR regulation is detrimental to stablecoins.
The fact that USDT is not available in Europe means little to me.

Considering the attitude of the ECB and our dear Christina, who for years sees the biggest threat in the so-called stablecoins, no one should be surprised that they are not well received in the EU. My personal view was that stablecoins are the weakest link in the cryptocurrency world, because not only are they completely centralized and in some cases probably "printed" out of thin air - they are also a direct threat to fiat currencies and as such represent direct competition to central banks.

First they neutralized private coins, now stablecoins, and we can only guess what their next target is.

[LoyceV]

First they neutralized private coins

In their dreams!

[hosemary]

The old domain of eXch is up and scammers are using that to clone exch.cx.

Code:

exch(dot)cc

According to who.is, the domain has been registered 4 days ago.


Edit:
Scammers have cloned eXch on the following domain too.

Code:

exch(dot)cy

[fillippone]

First they neutralized private coins, now stablecoins, and we can only guess what their next target is.

Under the EU rules, stablecoins are very much allowed.
They have to abide by EU regulations, which Tehter wasn't interested in doing (and I may have that they add some very valid reasons for setting so).
Circle has USDC, a perfectly legitimate Stablecoin in the EU markets.

[Cricktor]

~~~

exch (dot) cc  and  exch (dot) cy  seem to belong together (one scammer entity) because the "Support" link on the .cc domain site lists an email support address under the .cy mail domain and both domains appear next each other at the bottom of the page.

Well, I've reported both copycats as fraudulent copy scamming sites. Will need more reports for sure...

[paid2]

exch (dot) cc  and  exch (dot) cy  seem to belong together (one scammer entity) because the "Support" link on the .cc domain site lists an email support address under the .cy mail domain and both domains appear next each other at the bottom of the page.

Well, I've reported both copycats as fraudulent copy scamming sites. Will need more reports for sure...

Yes, by the way, when I go on “cy”, it automatically redirects me to “cc”..

I've reported it too, and hope for a quick follow-up!

(thank you hosseinimr93 for the find!)

[Lucius]

First they neutralized private coins

In their dreams!

Can you trade private coins on any CEX that operates within the EU? All my local CEXs removed trading with private coins a few years ago, not because some law came into force prohibiting it, but because they were guided by the recommendation of the regulatory agency.

It's true that you can buy/sell such coins in alternative ways, but if your country explicitly prohibits it, you certainly won't dare try something like that. Just like you don't want anything related to gambling in your signature, right?

[SFR10]

The old domain of eXch is up and scammers are using that to clone exch.cx.

Nice catch... It would've been better if they kept renewing it just to park it.

Edit:
Scammers have cloned eXch on the following domain too.

Code:

exch(dot)cy

I'm quite surprised to see this one still exists... A few users helped me to report it "a couple of months back".


Unfortunately, recently someone else created another clone as well ^{[Creation Date: 2024-12-26]}:

Code:

exch.cash

Registrar Abuse Contact Email: domainabuse@tucows.com
Registrar Abuse Contact Phone: +1.4165350123

[NotATether]

Under the EU rules, stablecoins are very much allowed.
They have to abide by EU regulations, which Tehter wasn't interested in doing (and I may have that they add some very valid reasons for setting so).
Circle has USDC, a perfectly legitimate Stablecoin in the EU markets.

Why is Europe trying to shoot itself in the foot here? It is bending over so much to protect legacy businesses, but it should learn from the USA how to handle emerging financial tools coming to the market. Spoiler alert: They don't ban them, they do subject them to common-sense regulations but they let everything compete on the open market.

[LoyceV]

Can you trade private coins on any CEX that operates within the EU?

No, you can't trade anything privately on a CEX that operates within the EU.... You're asking the wrong question, the real question should be: why would anyone want to deal with private coins on an exchange that knows their home address?

if your country explicitly prohibits it, you certainly won't dare try something like that

As far as I know, there isn't a single EU-country in which trading or owning Monero is illegal.

Just like you don't want anything related to gambling in your signature, right?

Advertising gambling online isn't illegal in my country, but it comes with requirements that I can't be sure about.

Why is Europe trying to shoot itself in the foot here?

Some say EU serves larges corporations, and banks don't like competition.

it should learn from the USA

Check how the EUR/USD exchange rate changed since the last US presidential election. It looks like "the market" doesn't have much confidence in the path the EU is taking.

[examplens]

if your country explicitly prohibits it, you certainly won't dare try something like that

As far as I know, there isn't a single EU-country in which trading or owning Monero is illegal.

Don't say things like this too loudly. Someone might hear you and think, "Hey, here's a new idea for a new regulation. Why not?"
I remember a long time ago there was talk about cancelling the privacy coin support
https://cointelegraph.com/news/fatfs-regulations-to-push-criminals-to-privacy-coins-ciphertrace-ceo

[Pmalek]

the reaason why i ask is because TRC20 is cheaper to use and more popular then USDT ERC20

I don't know if it's more popular, but it's certainly up their among the most used networks for the tether stablecoin. What you said about it being cheaper is not true, though. To send USDT over the Tron network, you need 13 TRX if the receiving address already has some TRX on it or 27 TRX if it doesn't have any. That's around $3.5 to $7 per transaction. This amount doesn't change. Ethereum's fees go up and down. If they are on the cheaper end, you can send ERC20 tokens for ≈ $0.50 in ETH. If they go up, you are looking at $1 to $3 per transaction in normal network conditions.

My personal view was that stablecoins are the weakest link in the cryptocurrency world, because not only are they completely centralized and in some cases probably "printed" out of thin air - they are also a direct threat to fiat currencies and as such represent direct competition to central banks.

Unfortunately, they are a necessary evil we have to cope with.

[fillippone]

Why is Europe trying to shoot itself in the foot here?

Some say EU serves larges corporations, and banks don't like competition.

Shooting in the foot is Europe's speciality for now.
Look at all the hyperregulations that are strangling European startups and keeping EU innovation levels so miserable when compared with US: we are hyperegulating, so all the interesting startups go where they are nurtured by the legislation and the economy, not punished.

[hosemary]

Yes, by the way, when I go on “cy”, it automatically redirects me to “cc”..

I guess you clicked on the cy link at the bottom of the cc domain. Although the link text is cy there, the destination is cc.
If you type the cy domain in your browser, you will go to the cy website without being redirected to cc.