Unless you enjoy holding paper monero, and letting centralized exchanges get away with fractional reserves, always withdraw your crypto!
Unless you enjoy holding paper monero, and letting centralized exchanges get away with fractional reserves, always withdraw your crypto!
Why not buy monero directly if you can? Kraken has Monero. Say you lose it in a gambling accident, never reuse wallet addresses, you have some plausible deniability no?
I don’t like CEXes and the whole transfer money in and transfer out process and Kraken appears to require an account. and I see a sign in. If ChangeNow or any other instant exchanges that don’t require 3D KYC/AML, I’ll use it. I haven’t purchase XMR in the last few months since I have enough for a major emergency and I can’t tie up more money, so I don’t know the current state of instant exchanges. But when I do need to buy again, if I can’t find an instant exchange with low KYC out there to buy XMR, I know that they still exist for the popular POW coins so I’d go the DEX route. But if those don’t exist, I will be more open to explore other options like Haveno or Kraken.
Regardless, CEX’s are the most convenient way to obtain monero. People should do what you describe, try to dodge as much KYC as you can.
On a sidenote, this is probably why i think Monero is undervalued in the market lol, a large proportion of monero trades happen outside of CEXs, and the market prices come from the API’s of CEXs