XMR Monero Question

[ThyNoah]

I have always used BTC for the majority of my transactions when making purchases, I usually purchase the BTC using an exchange and then send it to my wallet and then send it again to another wallet before sending payment. I was always told this was the best method for security but BTC even with shuffling funds between wallets multiple times can simply still be traced if they really wanted to. Especially with apps such as Coinbase.

In recent times more sources are welcoming XMR as payment due to its anonymity versus other crypto.

My question for anyone who has a little more insight and knowledge on this, can I use any exchange/wallet such as Cakewalk and then should this still be shuffled between wallets as well?

What exchange platforms and wallets do members recommend who have traded utilizing XMR?

Others have said its easier to just convert BTC to XMR but would this still be safe since BTC can be tracked easier after purchase?

 

[dokdonia]

While using a new wallet address/seed for every transaction is probably the most optimal thing to do for privacy/anonymity, it's probably not necessary. You should at the very least use a new sub-address to receive monero. The article below breaks down the various options.

https://web.getmonero.org/2019/10/18/subaddress-janus.html

I buy XMR from Binance (I ultimately move btc from coinbase pro to Binance or use funds I already have in Binance) and send to a Ledger hardware wallet that interfaces with the gui wallet from getmonero dot org. You don't need a ledger to use it though.

Exchanging BTC for XMR with something like morphtoken dot com works also since the BTC trail in relation to you ends there.

 

[mr_meanor]

Btc is alot easier to get than Monero unless your market exchange savy.

Easiest way is.to get a Monero wallet
Any will work but

Monero: Home Is online and free

Then buy your btc on cashapp or whatever cause it's easiest then transfer it to shapeshift.

ShapeShift | Cryptocurrency Exchange | Simple Coin Conversion

Shapeshift will exchange you btc for xmr, and then transfer to your Monero wallet.

Sounds like a pain but is much easier than using an exchange in my opinion, unless.your already on one.

 

[Tankyouverymuch]

Btc is alot easier to get than Monero unless your market exchange savy.

Easiest way is.to get a Monero wallet
Any will work but

Monero: Home Is online and free

Then buy your btc on cashapp or whatever cause it's easiest then transfer it to shapeshift.

ShapeShift | Cryptocurrency Exchange | Simple Coin Conversion

Shapeshift will exchange you btc for xmr, and then transfer to your Monero wallet.

Sounds like a pain but is much easier than using an exchange in my opinion, unless.your already on one.

So, I used Shapeshift to transfer BTC for XMR From Coinbase to my cake wallet. Shapeshift shows that it went through in a matter of minutes but there is nothing in my cake wallet and the Coinbase portfolio shows pending. Does it usually take a while for it to clear each account?

 

[jackdiggler]

Btc is alot easier to get than Monero unless your market exchange savy.

Easiest way is.to get a Monero wallet
Any will work but

Monero: Home Is online and free

Then buy your btc on cashapp or whatever cause it's easiest then transfer it to shapeshift.

ShapeShift | Cryptocurrency Exchange | Simple Coin Conversion

Shapeshift will exchange you btc for xmr, and then transfer to your Monero wallet.

Sounds like a pain but is much easier than using an exchange in my opinion, unless.your already on one.

This was very helpful. Thank you Bro !!!

 

[KingCahoot3627]

So, I used Shapeshift to transfer BTC for XMR From Coinbase to my cake wallet. Shapeshift shows that it went through in a matter of minutes but there is nothing in my cake wallet and the Coinbase portfolio shows pending. Does it usually take a while for it to clear each account?

Did it ever go through? If not, do u know what mistakes you made?

 

[Rival]

Shapeshift shows that it went through in a matter of minutes but there is nothing in my cake wallet and the Coinbase portfolio shows pending. Does it usually take a while for it to clear each account?

yes takes a while depending on how saturated the market blockchain is. If you go to details on your coinbase transfer you’ll see view transaction On blockchain. It will tell you how many confirmations have passed or if it’s held up in mempool. Give it a few hours it will go through granted you supplied the correct wallet

 

[sinewave3]

Coinswitch .co is a good one to swap coins too, no account needed. Just be sure to double check your wallet addresses before clicking the final ok.

 

[DrinkFlintWater]

I know you can swap out on Binance but I dont think it can be traced. It's been awhile since I even looked at crypto

 

[KingCahoot3627]

I'm missing a few steps. If I try to send btc from Coinbase to Cake wallet, Coinbase doesnt seem to recognize/accept the cake address.

I'm guessing thats why u guys suggested shapshapeshift. But in that app, there is literally no Monero or xmr option to choose for conversion. Many other crypto options, but not the one we are shooting for here. What am I missing?