(Tips on Best Practices) Coin Control – How to Safely Exchange Coins on TradeOgre Such as Pirate Chain (ARRR), Dero (DERO) and Radiant (RXD) etc…
Here are some tips with best practices for
safely exchanging surveillance coins (like BTC for example) for some of the private/fungible coins that we’ve
recommended buying on TradeOgre, such as ARRR, WOW & DERO.
These tips on best practices are especially important when interacting with popular KYC/AML (know your
customer/anti-money laundering) crypto exchanges/services, such as Coinbase for example.
KYC/AML crypto exchanges typically require you to provide your full legal name, address, and a
photo/scanned copy of your government ID, and in some cases, additional deeply private/personal
They claim to collect this information for compliance and legal purposes, but this comes at the expense of your
personal privacy, and subjects you to financial surveillance.
It’s important to be aware that all major KYC/AML exchanges have partnerships with blockchain analytics
companies such as Chainalysis, Elliptic, and many others. These companies are essentially spying on
everyone’s blockchain wallets and transaction patterns.
These blockchain analytics companies routinely share their surveillance information with governments and
exchanges, and they are always watching 24/7 to see what happens to any crypto deposits & withdrawals from
your exchange account.
Their spying activities are especially effective on transparent-by-default surveillance coins like BTC. This is
precisely why we call transparent-by-default crypto assets “surveillance coins.” If you use these crypto assets,
you are implicitly subjecting your crypto activities to surveillance by default.
As we have written since we first launched TCV, surveillance coins like Bitcoin are in many
ways dangerous to your personal freedom. Using BTC is like posting your bank and credit
card statements publicly for the entire world to see – and worst of all it’s permanent and
there’s no way to take the information down!
Using private-by-default, fungible digital cash like Monero (XMR) is just common sense and
helps protect you from being contaminated by other people’s “dirty” coins!
To outsmart these adversaries, you must therefore learn to think like the blockchain analytics companies do,
and always be mindful and careful of the history of any BTC (or any other surveillance coin) that you choose to
deposit/receive into your KYC/AML exchange account (such as Coinbase, for example).
Likewise, you must always be mindful and careful about what wallets to which you withdraw/send any BTC (or
any other surveillance coin) from your KYC/AML exchange account.
In other words, if you are using surveillance coins (like BTC) you must always be extremely careful about the
entire history of wallet(s) that your coins touch – both in the past, and in the future! This is a lot of
In order to avoid such worries (or accidentally making a mistake), it is much easier and safer to use a
cryptocurrency that is private by default, like Monero (XMR), Pirate Chain (ARRR), or Wownero (WOW).
If you haven’t watched Dr. Daniel Kim’s lecture, “Monero: Sound Money, Safe Mode” yet, then I
highly recommend taking the time to watch it. He eloquently explains some of the dangers of
surveillance coins like Bitcoin, and why private/fungible cryptocurrency like Monero fulfills
important needs in the market that help protect innocent users from reputational risks.
If you want to avoid getting your Coinbase (or any other KYC/AML exchange) account shut down or otherwise
avoid being the unwitting subject of an investigation, you should always ensure that you only move BTC (or any
other surveillance coin) that has only ever touched clean wallet(s) into your Coinbase (or any other KYC/AML
This includes being careful to avoid contaminating your BTC (or any other surveillance coin) with any wallets
that you might not normally consider to be dirty, such as other exchanges or crypto services that do not have
KYC/AML policies, like TradeOgre for example.
Any surveillance coins (like BTC) you receive from unknown parties could potentially be dirty, which is why it
is smart to have a separate new wallet for all incoming coins, and then “clean” any of these unknown coins
upon receipt by immediately converting them to a private/fungible crypto asset like XMR.
For example, if you buy BTC on a KYC/AML exchange like Coinbase, you should never send your BTC directly
from Coinbase to TradeOgre.
This is because TradeOgre does not have KYC/AML policies (they don’t even require your name), and there
have been examples of times where other TradeOgre customers deposited dirty BTC into TradeOgre’s company
wallets and they got mixed up with innocent customers’ BTC, thereby contaminating them. This can result in
your KYC/AML exchange account being frozen, seized, closed down, or worse, being investigated by the
To avoid these dangers, you need to adopt the practices of “coin control.”
Make sure that you are extra careful to only keep clean BTC (or any other surveillance coin) in wallets that have
only touched clean coins that were associated with legal, KYC/AML crypto services/exchanges. It is also smart
to always make new BTC receiving addresses in these wallets, and to never reuse old wallet addresses whenever
Going back to the example of someone who has purchased clean BTC via Coinbase and wishes to deposit funds into TradeOgre, it would be smart for this person to also sign up for Kraken, which is a KYC/AML exchange
that also supports Monero.
In this example, the next step would be to send your clean BTC to Kraken, and then purchase XMR with your
BTC via the XMR/BTC currency pair, and then withdraw the XMR to your own self-hosted Monero wallet.
It would also be smart to make a new, unique XMR wallet address that is only used for these Kraken
withdrawals and use this address nowhere else, since Kraken has records associating you with that particular
For added privacy, you can move the funds from your self-hosted Kraken XMR withdrawal wallet to another
XMR wallet (to be used for TradeOgre XMR deposits and withdrawals).
At this point, you can deposit the XMR funds into TradeOgre, then sell your XMR for BTC within TradeOgre.
You can then use the BTC to buy Pirate Chain (ARRR) within TradeOgre, or any other crypto asset you wish to
purchase within that exchange.
Likewise, it is very important to note that any BTC (or any other surveillance coin) withdrawn from TradeOgre
can also be marked as dirty, due to the aforementioned fact that they do not enforce any AML/KYC.
Therefore, it is important to only withdraw private/fungible coins such as XMR, ARRR, WOW,
AEON, & DERO from non-KYC/AML exchanges like TradeOgre, instead of withdrawing a
surveillance coin like BTC.
If you’ve already made some mistakes in this area and sent clean KYC’d BTC (or some other surveillance coin)
to TradeOgre, you can hope that the other exchange doesn’t notice, or perhaps your coins happened to be lucky,
and managed to avoid mixing with dirty coins that particular time.
This also goes for situations where you may have withdrawn BTC (or some other surveillance coin) from
TradeOgre and sent it to a KYC/AML exchange like Coinbase.
Remember that true privacy coins, such as Monero (XMR), Pirate Chain (ARRR), & Wownero (WOW) cannot
be marked as dirty since they are untraceable, private, and fungible.
The main issue here is with BTC (and other surveillance coins). If you buy clean BTC on a KYC exchange and
then send it to TradeOgre, the KYC exchange’s blockchain analytics partner/service may flag your account for
sending your BTC to what it thinks is a dirty place (since other BTC at TradeOgre could be from dirty places,
and there is no KYC there).
Again, if you’ve made mistakes in this area already, just do your best to be more careful in the future. Always
remember to keep clean BTC associated with only clean BTC, and try to use truly private/fungible
cryptocurrency like XMR whenever possible. Only use BTC if you are absolutely forced to.
To summarize, for people who choose to continue buying BTC at KYC/AML exchanges like Coinbase and
want to safely exchange crypto (such as ARRR) at non KYC/AML exchanges like TradeOgre, a better way to
do it would be to follow a process like this:
1. Buy clean BTC on Coinbase
2. Transfer the clean BTC to Kraken
3. Use the clean BTC to buy XMR at Kraken
4. Withdraw the XMR to your own self-hosted wallet (preferably create a unique XMR wallet address
just for Kraken withdrawals – this helps with privacy, since Kraken is a KYC exchange and they keep
5. Move the funds to a new unique self-hosted XMR wallet address (for TradeOgre XMR deposits &
withdrawals only – this step is optional but gives you additional privacy in case TradeOgre is
hacked/compromised in the future)
6. Transfer the XMR to TradeOgre
7. Sell the XMR for BTC within TradeOgre
8. Use the BTC proceeds within TradeOgre to buy ARRR (or whatever else you want to buy at
9. Withdraw ARRR (or whatever other coin you purchased) from TradeOgre to your own self-hosted
Remember – the same goes for withdrawals. Only withdraw private/fungible coins from
TradeOgre to your own self-hosted wallet. Avoid withdrawing BTC from TradeOgre at all,
and definitely don’t withdraw BTC directly to a KYC exchange because it could very possibly
be marked as dirty and cause unwanted problems at the KYC exchange.
Again, keep in mind that all of these rules for best practices also apply if you are dealing with any
non-KYC/AML exchange, even decentralized ones like Bisq. There are examples of people getting their
KYC/AML exchange accounts shut down because they were contaminated by “dirty” BTC (or other surveillance
coins) coming from Bisq.
If you choose to use Bisq, then always be sure to only deposit & withdraw private/fungible coins like XMR
to/from Bisq. Never send clean surveillance coins like BTC from a KYC/AML exchange directly into Bisq, and
never withdraw BTC or another surveillance coin from Bisq and send it directly to a KYC/AML exchange like
Coinbase. Doing so puts you at risk for getting your account frozen, shut down, or being the subject of a
potential criminal investigation (depending on how dirty the coins might be).
On a side note, Bitcoin (BTC) transaction confirmation times and transaction fees have been horrible lately due
to a backlog in its mempool.
Monero (XMR) is much better in this regard since it has a dynamic block size, and its fees are typically less
than one cent. Not only is XMR better than BTC due to its fungibility, but it is also cheaper and faster for
making day-to-day transactions!
Recommended: You might want to read this page more than one time, coming back to it once in a while just to repeat this info is probably a good idea.