I’ve learn just a few feedback from others throughout just a few subs saying to solely use Cake Pockets for small exchanges as a result of bigger ones can require KYC. Is that this true or am I protected to nonetheless use Cake Pockets for exchanges / sending XMR? Additionally what constitutes as a big quantity? A number of hundred or just a few thousand?
8 thoughts on “Is it protected to make use of Cake Pockets for giant exchanges?”
Noone had that answer for you unfortunately.
If you’re wanting to make large exchanges I would say mix up.
-bit of monero from localmonero.co
– get some ltc out of cake to kucoin
Maybe a bit of legit LTC from an exchange to kucoin….
Work it all over to monero…move to private wallet.
-this post take a lot of things into consideration.
**what do you consider large?
** What currency you after
** Where do you want it to end up.
DM I might be able to able as this all I spend my time researching this at the minute.
Send BTC from exchange to Cake, convert BTC to monero via cake, send monero wherever you want. I don’t see how KYC would matter as once you convert it to monero that monero is now untraceable unlike bitcoin.
Cake wallet doesn’t do exchanges. The exchange you can do on the app is through other platforms, you can choose which one you want.
If you want a swap service that doesn’t do KYC, see here [https://kycnot.me/](https://kycnot.me/)
Personally I’d run in small amounts just in case something shitty happens least that way you don’t loose the whole pot
I’d probably just eat it
I like cake 🙁
Cake wallet is not an exchange they partner with exchanges and those exchanges can randomly ask for kyc. Check the website kycnot.me to learn more
I believe if you use cake to purchase, then you have to go through KYC, however if you purchase elsewhere then send to cake it doesn’t trigger it. That has been my experience with bitcoin (and amount was low, like $150 ) But I was able to back out and not go thru with the transaction. As far as exchanging I haven’t had an
issue. However I have only cake for that purpose a few times ($300-$400 dollar exchanges).
How much do u consider large? I’ve had small transactions take forever but larger (100-1000usd) always fast. You can change settings for speed. Obv u pay more for faster. I use regularly which I probably should learn local monero but for now cake works.