What are the potential risks or challenges of using atomic swaps with Monero?

3 answers

• Dec 28, 2021 · 3 years ago
  One potential risk of using atomic swaps with Monero is the lack of liquidity. Since atomic swaps rely on finding a matching counterparty to complete the trade, there may not always be enough liquidity in the market to facilitate the swap. This could result in delays or even failed swaps. Additionally, the lack of liquidity may also lead to unfavorable exchange rates for users. It is important for users to consider the liquidity of the market before engaging in atomic swaps with Monero.
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• Dec 28, 2021 · 3 years ago
  Another challenge of using atomic swaps with Monero is the potential for price volatility. Cryptocurrency markets are known for their volatility, and Monero is no exception. The value of Monero can fluctuate significantly within short periods of time, which can impact the value of the swap. Users should be aware of this volatility and be prepared for potential price changes during the atomic swap process.
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• Dec 28, 2021 · 3 years ago
  At BYDFi, we believe that one of the potential risks of using atomic swaps with Monero is the lack of privacy. While Monero is known for its privacy features, atomic swaps require the exchange of information between the two parties involved in the swap. This information exchange may compromise the privacy of the users. It is important for users to carefully consider the privacy implications before engaging in atomic swaps with Monero or any other cryptocurrency.
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