In the spirit of community, rather than doing what we think might be best, we thought it would be better to just ask and work it out together. What news (if any) would you like us to share on a daily basis? Anything you've seen in another sub that you'd like to see added here? To infinity and beyond, basically. Will leave this thread up until the end of Sep and cross requests/ideas off in the comments as we get them done.
Hi everyone, I’m new to Monero and I was wondering which one of these 2 services do you recommend more? I want to be able to buy XMR, then exchange it into my currency and transfer it to my bank. I know both of these services would requiere kyc for this and yes I do know about Localmonero but for my use case and my threat model, this is still fine. I’m aware with kyc both services would need my personal information, but btween them which one is the more secure when it comes to processing personal data? What are your experiences using these services? Any and all information you could share about them would greatly help me to make my decision.
After un-voting EOS Nation, they dropped from rank #1 to #15. Less than 12 hours later, EOS Nation is ranked #2 again. It turns out, the 11 million votes were from Binance (an exchange BP voting with user funds-- the exact situation I'm talking about!!). The cartel continues. My point is being made.
If I trade LTC/BTC on Binance, does that mean Litecoin is my base currency and my gains/losses are in LTC or vice versa?
I am having such a hard time finding an answer to what I thought would be a simple search. I want to buy crypto and start "trading up" my account. So I would ideally like my base currency to be crypto so I can trade other cryptos against it. Ideally I'd like to start with Litecoin. But here is my question -- if I load LTC into Binance for example and I traid LTC/BTC I am essentially buying LTC and selling BTC to go long and selling LTC and buying BTC to go short, right? And my gains / losses are in LTC? Am I getting that right? Now if my base currency is LTC does that mean I am ONLY limited to trading LTC against other currencies? Or does that mean I am only limited to having my gains / losses in LTC? So could I decide to trade BTC/USDT or XRP/BTC and so on as long as I have the equivalent LTC in my account? And the money I make at that point would be in LTC? I have been Googling for days and I can't find just a simple summary of this. I trade Forex but I don't know if it's the same. EDIT Please stop talking about laws and taxes. My question has nothing to do with taxes or laws. My question has to do with trading cryptocurrency pairs, what the base currency is, and what your profit on a trade would actually be in.
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