XMR Monero Question

Discussion in 'Bitcoin and Cryptocurrency' started by Noah86, Dec 27, 2019.

  1. Noah86

    Noah86 Member AnabolicLab.com Supporter

    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?
     
  2. dokdonia

    dokdonia Member

    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.

    Code:
    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.
     
  3. mr_meanor

    mr_meanor Member

    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.
     
  4. Tankyouverymuch

    Tankyouverymuch Junior Member

    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?
     
  5. jackdiggler

    jackdiggler Member

    This was very helpful. Thank you Bro !!!