this post was submitted on 24 May 2024
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Monero
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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
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Android (Cake Wallet) / (Monero.com)
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Monero, XMR, crypto, cryptocurrency
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The issue with Majestic Bank has been that they'd advertise a certain conversion rate (e.g. XMR/USD), then jack that rate up significantly unbeknownst to you at the last second right before you hit send. Not sure if they still do that but they tried to do it to me (and others) once and I never used them again. I posted on r/monero about this a couple of years ago.
they've done worse every time I used them: they jacked up the price well after my deposit was detected by them. I ended up losing several percents compared to the price they promised.
it's a scammy service and they invest a lot into event sponsorships (for conferences, meetups) to gain visibility. they also leave useless comments on GitHub issues, which also looks like self-promotion. just like this useless Lemmy post. I'll never use them again.
They stopped doing it last I checked