XMR.to, a popular exchange (monero to bitcoin) has announced today that it is shuting down its operation.
Hello to all the Monero faithful. Sad news today. With heavy hearts we are announcing that the XMR.to service will no longer be operated. It's been a grand ride, and a great privilege for us to have participated in and contributed to the growth of Monero since its early days. In a strange way this announcement also makes us happy - happy because we can shut down safe in the knowledge that by now Monero users have plenty of great options to spend their moneroj.
So, why are we shutting down? As you will have noticed (and as many of you have complained about) over the last years and months, we have increasingly been self-imposing restrictions on the service. As discussed in previous blog posts, this is necessary as part of our responsibilities in running this type of service. Our attitude has always been that responsibility comes first and we have consistently imposed necessary restrictions even when it hurt our bottom line. However, we won't compromise on our principles and, to give one example, are not prepared to turn our back on digital privacy preserving technologies such as TOR and VPNs. We have now got to the point where it no longer looks feasible to run this service in a manner consistent with our core beliefs.
And with the writing on the wall, why are we making this hard decision now? We see the great adoption that Monero has had in the past years. If we had shut down in previous years, it might have been a genuine inconvenience for Monero users. We are proud to see that the ecosystem has grown and that monero users now have plenty of options to spend their moneroj directly. We are super confident that in the future these options will just keep growing along with Monero adoption in general.
In terms of supporting the community, which was always our priority from day one, please note that for the time being we will continue to support our community contributions code and infrastructure. We cannot guarantee that we will be able to keep these alive forever, but we'll keep them around for a few months at least, and will devote some resources to figuring out how best we can hand over these elements so as to minimise impact on the community.
For six years (an eternity in the crypto space) we are proud to have set the bar of trust and honesty high for what we believe a crypto service should be - how users should be treated, how a service can be run responsibly without compromising on its principles, and how a service can and should give back to the underlying ecosystem (to both the community and the technology contributors). We sincerely hope that we have set an example and that the ever growing Monero ecosystem will keep the torch lit that we are passing on, and hold it high for a bright Monero future.
Long live Monero!Xmr.to has made a lot of changes to its service in the last year, first it has shut down its onion address and announced it will share ip information with any agency that asks it to do so.
Not so far after they have lowered the maximum amount to exchange from max of 20 bitcoin to 0.2 bitcoin and even lower than that in the last few weeks.
Xmr.to has been operating for over 6 years and its a sad day to all the crypto community.
RIP XMR.to.
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Oh no :*(
You were the greatest exchange of all time though!!!
Thank you for everything you’ve done to make monero and this community flourish!
Not good news in the least. Hoping something ‘good’ emerges from this because this is a true loss.
thats bad news =[[[ any other services that offer this same thing?
Ahh yes, the TotallyNotAScam2008MoneroDuplicationExploitv5.
MADE ME CHUCKLE LOL
I think Kilo’s is a good, anoymous exhange if you’re looking for that?
Also elude
xchange.me is a great one also.
Elude and Kilos are great services, i think we need to support our darknet fellas
morphtoken, or CakeWallet for IOS and Android is pretty handy dandy
No Morphtoken. Use Godex instead.
Thank you for your service and thank you for leaving the way you did. Respect!
For those looking for alternative exchanges i would recommend Kilos and Elude
Love you, guys! Thanks for all you have done, and not selling out.
Well that really sucks. Thank you for sharing this post here with all of us.
I hope a tor based service will come soon!
damn… i liked them
I recently found another one but think it been around awhile Evonax,they do XMR to BTC with no sign up needed but it,s on the clearnet ok with VPN thou
NOOOOOOOOOOOO ๐
This trend of clearnet monero exchanges closing shop will continue. The government is not going to allow it to be traded, even if they don’t outlaw it outright. I would anticipate people working in the defi space on coin swaps are going to get pressure from law enforcement too. The government wants to know everything about your money so they are going to do anything they can to block you from getting monero.
I was just going to use elude to exchange btc to xmr (low amount) and it warned me the fee was going to be 17%…does that sound right?
Our fee is randomly between 2 and 3% and we charge a 0.0003 withdrawal transaction fee
Exactly this. It’s why your work should be much more appreciated.
That sad, but thanks for everything you did for Monero community.
Best they shut down before law enforcement goes after their data.
You think they haven’t already ? The thing is except maybe for some IP addresses they don’t have much data, perhaps that was the problem.
You can tell they were being stressed out by LE. Sucks was a great service for a long time
Sorry I’m quite new here. What was XMR.to?
They did only XMR to BTC. Which is much safer than other exchanges on the xmr exchange service list. Supposing that xmr.to were getting their btc from legitimate exchanges, wich I think they did.
Other services do btc to xmr as well. So in the end you probably get dirty bitcoin for your xmr. Which is not any better than a regular bitcoin mixer which are mainly used by darkweb.
Not good developments for xmr. They are pushing this coin out of the daylight, which is bad for price action. Hype will be getting difficult for xmr, no matter the real utility.
Fuck.
Time for a Tor-based service to take their place I guess.
what happens to our moneros?
Man, what a bummer! We have to keep Monero going regardless!
I use Exedus and they exchange BTC for anything you want. I have noticed the fee is starting to go up. Im actually looking for something cheaper now but they are so easy to use and quick that it makes me stay.
Not as simple as XMR.to but testnet contract successfully preserves privacy with threshold number of ETH/BSC addresses requesting XMR > 20
– NFT with elastic tokenId containing `array[XMRLiquidityAddress]`, controlled by a contract with accepts PGP signed message for XMR Recieving Address & RequestedAmount these are batched in `array[AddressRequestingXMR]`.
– Contract runs once daily, matching orders between the two address arrays.
– Tx containing signed address accepts any ERC/BSC token, sent to one of three DeFi swap services in exchange for ETH.
– Sellers receive ETH, buyers receive XMR to addresses provided.
– On-Chain data displays transactions between existing liquidity pool contracts and PGP encrypted array.
Daily contract execution instead of on-demand is inconvenient but necessary to preserve privacy.
Contract will not execute if number of unique XMR requests is below a threshold value (20 as per current tests). User has option of keeping request in contract until threshold is above required level to execute.