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If you compare to Monero, you see that Monero isn't even allowed on these exchanges. So, it seems that you can't really have privacy combined with high exchange

by Geee 5y ago

If you compare to Monero, you see that Monero isn't even allowed on these exchanges. So, it seems that you can't really have privacy combined with high exchange liquidity.

matheusmoreira 5y ago
I was under the impression the exchanges chose not to list Monero voluntarily. After all, Binance does have it.
- sgp_ 5y ago
  Kraken US supports Monero, so clearly it can be done. If another exchange chooses not to, that's a company making their own decision.
magicjosh 5y ago
Can you explain what you mean by "high exchange liquidity"? My understanding is it's a policy issue not tech. Automated exchanges like Uniswap have Monero. edit: Uniswap has Wrapped Monero, not actual Monero.
- popol12 5y ago
  Not answering to the question, just correcting your last phrase: Uniswap has wrapped monero (WXMR) which is not quite the same as Monero, and with a ridiculous liquidity of ~200k$ currently (https://geckoterminal.com/eth/pools/0x14c10b4bdccd9d3f8940fb79e0ee00121391d6de?utm_source=coingecko&utm_medium=referral&utm_campaign=livechart https://geckoterminal.com/eth/pools/0x14c10b4bdccd9d3f8940fb...)
  - matheusmoreira 5y ago
    How does wrapped monero work? I've seen a lot of wrapped coins but I'm not sure why they exist or why I would want to use them.
    - shubhamkrm 5y ago
      From what I've understood, coins are wrapped to enable cross-chain movements. Let's say you have X BTC, but you want to take advantage of ERC-20 features. You can "move" your BTC to Ethereum blockchain by depositing your X BTC in Wrapped BTC (WBTC) smart contract. It'll lock your BTC, and give you the equivalent amount of WBTC tokens, which are ERC20 tokens on the Ethereum chain.
    - RileyJames 5y ago
      Wrapped tokens enable use across otherwise incompatible blockchains. Wrapped tokens are facilitated through a bridge. The bridge contract(s) lock the tokens on one blockchain, and re-issue wrapped tokens on a second blockchain. At a 1:1 peg. That way the wrapped tokens can be used in Defi or Dapps on the second blockchain, and later (if desired) sent back through the bridge to be “unwrapped” into their original form, on the original blockchain.
      - kache_ 5y ago
        This is so cool! I feel like this is the sort of creative enablement that smart contracts bring to the table.
        leppr 5y ago
        Just note that for now, most of those bridges are custodian. AFAIK at the moment the only trustless one is RenBTC. The more popular WBTC and others are essentially just some trusted entity issuing IOUs when you give them your BTC.
  - magicjosh 5y ago
    Ah my mistake! Wrapped Monero isn't Monero, got it.
sgp_ 5y ago
Monero is on Kraken US. Coinbase and Gemini, acting as companies choosing to add the coin they're mutually invested in Zcash instead of Monero, is a dumb indicator to use of what's "allowed," especially when there are obvious compliant examples in the US (Kraken, DV Chain, etc).

by Geee 5y ago

If you compare to Monero, you see that Monero isn't even allowed on these exchanges. So, it seems that you can't really have privacy combined with high exchange liquidity.

matheusmoreira 5y ago

I was under the impression the exchanges chose not to list Monero voluntarily. After all, Binance does have it.

sgp_ 5y ago
Kraken US supports Monero, so clearly it can be done. If another exchange chooses not to, that's a company making their own decision.

magicjosh 5y ago

Can you explain what you mean by "high exchange liquidity"? My understanding is it's a policy issue not tech. Automated exchanges like Uniswap have Monero. edit: Uniswap has Wrapped Monero, not actual Monero.

popol12 5y ago
Not answering to the question, just correcting your last phrase: Uniswap has wrapped monero (WXMR) which is not quite the same as Monero, and with a ridiculous liquidity of ~200k$ currently (https://geckoterminal.com/eth/pools/0x14c10b4bdccd9d3f8940fb79e0ee00121391d6de?utm_source=coingecko&utm_medium=referral&utm_campaign=livechart https://geckoterminal.com/eth/pools/0x14c10b4bdccd9d3f8940fb...)
- matheusmoreira 5y ago
  How does wrapped monero work? I've seen a lot of wrapped coins but I'm not sure why they exist or why I would want to use them.
  - shubhamkrm 5y ago
    From what I've understood, coins are wrapped to enable cross-chain movements. Let's say you have X BTC, but you want to take advantage of ERC-20 features. You can "move" your BTC to Ethereum blockchain by depositing your X BTC in Wrapped BTC (WBTC) smart contract. It'll lock your BTC, and give you the equivalent amount of WBTC tokens, which are ERC20 tokens on the Ethereum chain.
  - RileyJames 5y ago
    Wrapped tokens enable use across otherwise incompatible blockchains. Wrapped tokens are facilitated through a bridge. The bridge contract(s) lock the tokens on one blockchain, and re-issue wrapped tokens on a second blockchain. At a 1:1 peg. That way the wrapped tokens can be used in Defi or Dapps on the second blockchain, and later (if desired) sent back through the bridge to be “unwrapped” into their original form, on the original blockchain.
    - kache_ 5y ago
      This is so cool! I feel like this is the sort of creative enablement that smart contracts bring to the table.
      - leppr 5y ago
        Just note that for now, most of those bridges are custodian. AFAIK at the moment the only trustless one is RenBTC. The more popular WBTC and others are essentially just some trusted entity issuing IOUs when you give them your BTC.
- magicjosh 5y ago
  Ah my mistake! Wrapped Monero isn't Monero, got it.

sgp_ 5y ago

Monero is on Kraken US. Coinbase and Gemini, acting as companies choosing to add the coin they're mutually invested in Zcash instead of Monero, is a dumb indicator to use of what's "allowed," especially when there are obvious compliant examples in the US (Kraken, DV Chain, etc).