And this lecture I want to talk about crypto exchanges.
These are services that allow us to exchange one crypto currency to another.
This can be very useful because you might want to get a certain crypto for example Monaro but you can't
find any peer to peer sellers in your area or there are no 80 ATMs which you can use to get that cryptocurrency.
Therefore you can get a more popular cryptocurrency such as Bitcoin and then exchange it to Monaro.
Right now I'm only talking about bitcoin and more narrow but there are a lot of different types of crypto
currencies that you can exchange.
So learning how to use exchanges will open the door to so many possibilities.
For example what you can do is you can use cash so use an anonymous method to buy bitcoins.
So you're already anonymous at this point.
And then to increase your anonymity use a crypto exchange to exchange Bitcoins to Monaro and then you're
very very anonymous and very hard to trace.
Alternatively let's say the end goal is you want bitcoins because you're sending money to a person or
a seller that only accepts Bitcoin.
What you want to be as anonymous as possible then you can buy one arrow with cash again using one of
the methods I explained in the previous lecture and then convert this Monaro to Bitcoin using a crypto
exchange.
Now as you know cash is anonymous transferring the money into more narrow wallet will make it even more
anonymous like we said because it hides the center and the receiver and it's not linked ABL and then
send that to bitcoins will make your bitcoins very very anonymous and very hard to trace and tie to
your identity.
Alternatively let's say you tried everything and you could not buy a cryptocurrency with cash with an
anonymous method that's fine.
You can use an exchange service such as Coinbase and others that would verify your identity and then
the money you use will be tied to your identity but you transfer that money to a more narrow wallet.
Again once you do that that link is broken because Monteiro hides the sender and the receiver using
rink signatures and stealth addresses.
Therefore once you send that money to a bitcoin wallet it's very anonymous and the bitcoin address that
you're going to use will not be linked to your identity even though you verified your identity when
you bought the crypto currency when you bought Monaro for the first time.
You can do the same again use a service that verifies your identity because these are available in everywhere
in the world.
So you can always use them as a last resort.
And again buy bitcoins now at this stage.
The bitcoin address will be linked to your identity because bitcoin is not anonymous but once you convert
that bitcoin into more narrow the link is broken and this wallet right here will be very private and
will not be linked to your identity.
All of this is possible thanks to exchange services that allow us exchange one crypto currency to another
and anonymity is possible because of the way Monteiro is implemented because of the way it uses risk
signatures and stealth addresses.
Now to go even one step further and become very very anonymous.
What you can do is you can use what's known as churning and basically whenever money arrives into more
narrow wallet you can transfer it between multiple more narrow wallets before sending it to another
place or before converting it to another currency or you can literally send the money to the same wallet
again with more narrow sender and the receiver are not linked.
So every time you send money from one address to another even if you send in it to the same wallet that
increases the distance between the wallet and the source of the funds therefore making it very very
difficult to trace so in order to be able to do all of this you'll have to use a crypto exchange.
Now there are a number of crypto exchanges.
If you just go on Google and type crypto exchange you'll get a lot of services.
If you go to get more narrow community you will see a number of services here as well and I will include
this in the resources of this lecture.
And like I said the policies of the services change often so always stay updated on what's new.
Always stay updated to see which ones will require to register and verify I.D. or not.
But at the time of recording this lecture a really good service is more token right here.
It doesn't require us to sign up and it doesn't require I.D. verification using these services is pretty
much the same.
Therefore in the next lecture I'm going to show you how to use this one just as an example.
But you'll be able to apply the same steps when used in other similar services.