Monero is the #1 private cryptocurrency in the world. It allows you to make transactions to anyone in the world in minutes for a median price of $0.001, all while keeping your identity completely anonymous. These attractive features have led to a huge community of Monero users transacting more than $100 million worth of Monero daily.
But, in order to gain all of the privacy benefits of XMR, you need to pick the right exchange. Here we’ll assess whether Godex is the right place to convert XMR to BTC.
What Is an Anonymous Exchange Platform?
Most popular cryptocurrency exchanges such as Coinbase are not anonymous and have no privacy protections. When you sign up for these exchanges, you’ll have to go through a rigorous identity verification process. This may include uploading a photo ID, address verification, business verification, and bank account verification. By law in many countries, exchanges have to store this information and hand it over to government authorities if they request it for investigation.
In contrast, anonymous exchanges do not store your private information and don’t even ask for it. You simply enter the address to receive crypto funds, then send the payment to the given wallet address.
Godex uses this no-verification approach. It augments this with support for integrated addresses for Monero transactions. This allows addresses to be combined with a 64-bit payment ID, without exposing any data that can be traced back to you. This guarantees your XMR transaction is anonymous.
Advantages of Anonymous Exchanges
There are three main advantages to using an anonymous exchange:
- Your identity is secure by design.
- You never give up control of your cryptocurrency.
- They are faster and simpler to use with no transaction limits.
The first is the most obvious advantage. No government or organization can trace transactions back to you, so you are safe from intrusion.
The second advantage is less obvious. Anonymous exchanges are “non-custodial” by default. That means the exchange doesn’t host your cryptocurrencies in their own wallets on their servers. Instead, you keep custody of all of your cryptocurrencies. This is by far the safest way to store crypto, as was highlighted in 2022 with the collapse of the Celsius crypto platform. Celsius was a custodial platform that collapsed and currently owes $4.7 billion to its users, which they may never get back.
Lastly, with no ID requirements, accounts, passwords, etc. anonymous exchanges are extremely efficient to use. Simply open up the web page, choose the currencies, exchange amount, and receiving address, then make the transaction. As there are no accounts, there’s also no limit on the amount you can exchange per day/week/month.
Exchanging XMR for BTC on Godex
To make an XMR to BTC transaction on Godex follow these steps:
- Go to the Godex homepage.
- Choose the currency you’d like to send (XMR).
- Choose the currency you’d like to receive (BTC).
- Enter the amount you’d like to send/receive and click “Exchange.”
- Enter the BTC address to receive your BTC and click “Exchange.”
- Send the required amount of XMR to the deposit address and wait for confirmation.
- Receive your BTC and the transaction is complete!
As a result, you get anonymity, access to 300+ coins, an unlimited number of transactions, and complete freedom in terms of the transaction amount. And all you need for a successful transaction is the Godex homepage address https://godex.io/, a BTC address to receive funds, and an XMR wallet to send funds from!
Conclusion
XMR is the best and most widely used privacy token in the world. However, to keep your anonymity, you must make your transactions using anonymous methods. The anonymous exchange Godex allows you to swap XMR for BTC anonymously with integrated Monero addresses instantly. Here you can start exchanging in a matter of seconds and enjoy a streamlined user experience.
