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It doesn't matter if Monero is used with KYC - transactions are obfuscated. That means the transactions can't be traced to your KYC wallet on Kraken, meaning y
by minsc__and__boo 5y ago
It doesn't matter if Monero is used with KYC - transactions are obfuscated.
That means the transactions can't be traced to your KYC wallet on Kraken, meaning you're spending 10% on an ATM for no reason.
- McAtNite 5y agoMonero itself is not KYC, sorry if I worded that poorly above. The transactions to and from Kraken can definitely be tracked since they would have a record of the actual wallet address you sent your funds to. As for things that happen after that money hits your wallet - you’re right they wouldn’t be able to track it. I checked the Monero subreddit just to see if my understanding of it tracked with what people who actually own it say and it looks like they agree that transferring from a KYC exchange does allow tracking for transactions coming out or into the exchange. https://reddit.com/r/Monero/comments/ppcusq/moving_funds_between_exchanges/ https://reddit.com/r/Monero/comments/ppcusq/moving_funds_bet...
- minsc__and__boo 5y agoI didn't say Monero is KYC. I also didn't say you transfer directly into Kraken. Instead, you would use at least 1 or 2 other wallets before transferring into Kraken, because that bypasses their scanning. Kraken is still cheaper while doing that than paying a 10% fee for an ATM.