Intermediate

Swapping Monero Quiz

Test your understanding of no-KYC swaps: how they work, choosing a service, and rates and fees.

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What is a no-KYC instant swap?

A short-term loan of Monero repaid later in another cryptocurrency An automated exchange of fiat currency into Monero with no account needed An account-free trade of one cryptocurrency for another, straight to your own wallet A protocol that pools your hardware to mine Monero automatically

Why should you always provide a refund (return) address?

To unlock a slightly better exchange rate on the swap Because anti-money-laundering rules mandate one on every trade So your coin can be returned if the swap can't complete To help your transaction confirm faster on the network

What's the difference between a fixed and a floating rate?

Both lock the rate, but floating allows partial payments Fixed includes the network fee while floating excludes it A floating rate is only offered to verified accounts Fixed is locked for a window; floating settles on arrival

What's a smart first step with a swap service you haven't used?

Move your full balance at once to minimize total fees Do a small test swap first Give support read-only access to confirm your wallet works Leave the refund address blank to keep the swap private

Is a refund address technically required for a swap to go through?

No, it is usually optional because the trade only needs your receiving address, but you should fill it in anyway No, and adding one links your two wallets together on chain Yes, anti-money-laundering rules make it mandatory on every swap Yes, the service cannot generate a deposit address until you provide one

Why is repeating the exact same swap amount over and over in quick succession a pattern to avoid?

The regular, identical pattern can trip AML flags and trigger manual review or an ID request It gradually pushes up the service's spread on your future swaps It congests the network and delays your confirmations It forces the service to reuse the same deposit address each time

What is the 'surprise KYC' trap?

A swap site that asks for your seed phrase to verify ownership A service advertises no-KYC but holds your deposit and demands ID before releasing it A floating rate that silently locks at a worse number on arrival A hidden withdrawal fee revealed only once the swap settles

Within a swap's overall cost, what is usually the main component?

The Monero network fee paid to miners A regulatory levy added to every cross-asset trade The one-time charge for generating your deposit address The spread, or margin, the service builds into the rate

What does a swap aggregator do for you?

It runs a quick identity check to unlock better rates It pre-mines Monero so your swap can settle instantly It compares many no-KYC services at once and routes you to the best rate It holds your coins and trades them when the rate peaks

Q10

Why should you check a service's minimum before sending your coin?

Staying just under the minimum reduces the fee you pay The minimum sets which refund address the service will accept Below the minimum your deposit may be lost or need manual recovery The minimum sets the ring size used to keep your swap private

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