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It's possible to swap into monero without using any KYC exchange, but that requires liquidity. So it could take years.
by sekai 5y ago
It's possible to swap into monero without using any KYC exchange, but that requires liquidity. So it could take years.
- whimsicalism 5y ago> swap into monero without using any KYC exchange How? Links on this being done?
- csomar 5y agoAtomic swaps were possible way before Uniswap and the DeFi craze. Liquidity is another issue for 7.5bn though.
- whimsicalism 5y agoIsn't Uniswap doing a swap within the same chain?
- csomar 5y agoIndeed. Alts should be wrapped so that they become swap-able with Uniswap. In that sense, Atomic swaps are superior since you have zero counter-party risk. Who guessed Bitcoin tech is superior to that of Ethereum?
- whimsicalism 5y agoCorrect me if I'm wrong, but doesn't wrapping require KYC? So how could this be used to convert the BTC to Monero?
- csomar 5y agoAfaik, it's the custodian who requires KYC. The trading happens without. This might become a problem for custodians who now have a bunch of illegal coins. It'll be interesting to see how this will unfold.
- thinkmassive 5y agoWrapping and KYC are orthogonal, although maybe most of the current implementations require KYC, no idea. Cross chain atomic swaps are something else entirely. Typically they involve using timelocked multisig transactions that reveal a new part of a secret in each output, allowing both parties to redeem or both deposits to be refunded.
- hi5eyes 5y agohttps://bisq.network/markets/?currency=xmr_btc https://bisq.network/markets/?currency=xmr_btc
- thinkmassive 5y agohttps://comit.network/ https://comit.network/ https://github.com/comit-network/xmr-btc-swap https://github.com/comit-network/xmr-btc-swap