Top Places to Buy/Sell Monero in the EU | Traders Adjust After Major Delistings
A rising number of people across the EU are scrambling to buy or sell Monero, particularly after the cryptocurrency was delisted from popular exchanges like Binance and Kraken. This situation has stirred anxiety about the legality and privacy of crypto transactions, as many shift to alternative platforms.
Current Exchange Landscape
With Monero's removal from major platforms, traders are now on the lookout for options that still support the coin. Basicswap and Retoswap have emerged as alternatives, allowing users to engage in swaps without KYC verification. However, concerns linger about using non-KYC services, especially whether transactions might raise flags. Notably, one user stated, "XMR cannot be flagged as suspicious because it is 100% fungible and untraceable."
User Insights and Trading Techniques
People have shared multiple methods to trade Monero while maintaining privacy. For instance, a common recommendation is to buy Litecoin (LTC) on a KYC exchange, transfer it to Cakewallet, and then swap it for XMR there. "If you swap on Cakewallet, then no [flagging] will happen," one commenter emphasized. Another user suggested, "Retoswap for fiat trades," pointing to its utility for direct fiat exchanges.
Alternatives for Monero Trading
Here are notable platforms mentioned for trading Monero:
Basicswap: Facilitates swaps without needing KYC verification.
Retoswap: Recommended for fiat transactions.
Cakewallet: Offers private swaps from LTC to XMR, enhancing user anonymity.
As traders explore these options, it's crucial to evaluate risks and privacy implications.
"Every option comes with its own set of risks," one commenter pointed out, highlighting the importance of discretion in this shifting landscape.
Insights into User Sentiments
Many traders express a mix of optimism and caution as they navigate these changes. The sentiment appears to lean towards proactive strategies in the face of newly evolving regulations.
📉 Monero's delisting from Binance and Kraken continues to push users to search for new avenues.
🔄 Basicswap, Retoswap, and Cakewallet are explored as viable alternatives but carry varying levels of risk.
⚠️ Concerns persist regarding potential flagged transactions when using non-KYC services.
Looking Ahead: The Future of Monero Trading
As 2025 unfolds, we anticipate more Monero-friendly platforms emerging. Current estimates suggest around 30% of Monero users may switch to decentralized exchanges or privacy-focused services to retain anonymity. This could lead to a split marketplace where verified platforms exist alongside those prioritizing user confidentiality.
Interestingly, as privacy standards evolve, the need for innovation in KYC processes also grows, as businesses strive to balance user demands for privacy with compliance.
Historical Context in Market Changes
The ongoing shifts in Monero trading echo past financial turbulence, resembling movements seen in gold markets under strict regulations. As traders historically sought less regulated environments, modern Monero traders may find themselves similarly adapting to secure their assets amid surveillance and evolving laws.