What is Reddit's opinion of LocalMonero?

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I occasionally trade Monero on https://localmonero.co/ and can only recommend their platform. However, if you are accepting bank account transfers, you should probably somehow make some "KYC" / buyer verification even if the platform is made for p2p trading and doesn't require any KYC. At least in Germany from my experience.

Today I had a police house search which you can see in the picture above. It's somehow hilarious (and was so for the police officers but that's their job) a judge ordered it for these reasons:

- Someone faked a paper remittance slip with me as receipient.

- The sum was 370 Euro, roughly 420 USD.

- I never received the money and probably cancelled the trade, since the bank rejected the slip with a fake signature according to the police officer.

- The police officers were ordered to seize all pens they find with blue print, so I lost like 30 pens ;-)

- They were also ordered to seize some hand written samples made by me (which I kind of understand)

How I know it was LocalMonero related? The subject on the remittance slip was clearly a LM trade ID, however I cannot verify it any more since LM only stores 6 months of transaction data (for a good reason) and the trade was back in February 2018.

Also pinging u/Alex_LocalMonero, maybe you can set up some warning also for Germany like you had for UK (I think) before.

No-KYC only; avoid the creep. Use LocalMonero.

• https://bitcoiner.guide/nokyconly
• https://scribe.rip/the-rarely-discussed-dangers-of-kyc-in-crypto-and-daily-life-and-what-you-can-do-about-it-20f2b5894439
• https://localmonero.co

We've been operating for over 3 years, we're even listed in the sidebar of this subreddit.

When you open a trade, the seller's coins will be escrowed by us, so he has no way of disappearing with your money since our staff will just release the coins to you in case of a dispute and after you provide proof that you've made the payment.

Some basic tips:

1. Stick to reputable traders if you're risk-averse,
2. During the trade, remember to press the "I have paid" button as soon as you pay (otherwise the seller can cancel the trade if the trade was opened more than 60 minutes ago), and
3. Before opening a trade with someone make sure you have fully read and understood the terms of trade as they are shown on the ad page (the page where you input how much you want to buy).

You can find more detailed guides about using LocalMonero here.

Let me know if you need any help and join our Telegram group @LocalMonero if you have questions to other buyers or sellers.

Kraken is definitely the closest you can get to market rate. If you aren't able to use Kraken for one reason or another (such as an unwillingness to give Kraken your personal documents), try LocalMonero.

>That’s good info to hear thanks

You're welcome!

​

>What happens if I want to sell tho?

A few options you have.

• Look for buyers on localmonero.
• Swap it for a coin that is accepted on Australian exchanges then sell it there.
• Look for merchants accepting Monero and spend.

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In addition to the other options, you can try putting up a sell ad on LocalMonero. That way you can also avoid going through ID/address verification and use whatever payment method is most suitable for you. Depending on the payment method you plan to use, you might also be able to get above-market rates. Just be careful when accepting PayPal.

What data does LocalMonero collect that bothers you? We don't even require an email to register an account. We even have a Tor portal and NoJS mode.

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You can try posting your own buy offer on LocalMonero for a price and payment method you find desirable. If you're in the GB region I'm sure you'll get a response quickly.

On LocalMonero there are plenty of traders that offer anonymous payment methods, like cash by mail or ATM cash deposits. Depends on your region. Bisq would work too.

Buying a different currency and shapeshifting it into Monero is not the best choice for privacy/anonymity, because there are multiple steps and every step is a potential privacy leak. It's best to minimize the steps and go directly fiat -> XMR.

Not all centralized exchanges are bad. There are also centralized P2P exchanges like LocalMonero or MoneroForCash. I can't speak for MoneroForCash, but as LocalMonero's co-founder I can assure you that you would never encounter such a problem on our site.

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Se te queres manter sem pagar impostos, tens de te manter afastado de sistemas regulados por estados, como o bancário. Dito isto, risca dos teus planos toda e qq transferencia da coinbase, kraken, cex.io ou outro para conta bancaria.

A solução é converter crypto para a coisa mais privada acima de crypto: dinheiro vivo. Para tal tens plataformas como https://localmonero.co onde consegues trocar monero (poloniex, kraken trocam btc por monero) por dinheiro, sem nomes, sem traders, sem provas de identidade, sem rasto.

Hi, I'm the admin for https://moneroForCash.com (MFC). It's similar to localMonero (u/Alex_LocalMonero, please chime in if anything's different for your site).

The buyer or seller will first post an advert to buy or sell Monero for cash, gift cards, money orders, or whatever they want, and then someone else can send them a message on the site. On MFC, if the person who posted the advert provided an email address in their profile (not required), they'll get a copy of the message sent to their email address. Otherwise, they'll need to log in and check their messages.

Then, the buyer and seller agree on the terms (when and where to meet, finalize details of the price, etc.).

After that, it's up to them. Here's how I do it and it's worked well for me: we meet in person in a public place with free wifi. If I'm selling, I ask to count the cash, keeping it visible to both of us at all times. Once the cash is there, I'll put a book or something on top of it so it doesn't blow away but is still visible. Then, I'll get his receiving address either from a scan, a message that he sent to me containing his address, etc, and send him the Monero. I like to wait until it's visible as incoming in their wallet so that we both know that the transaction is processing. You can wait for the transaction to be confirmed but nobody has ever done that with me. At that point, I just thank him for the trade and we're done.

https://localMonero.co functions more like localBitcoins in that you send your Monero to them for the trade, and they release it to the buyer when the both parties let localMonero know the trade is good to go.

> I'm American but residing in the Philippines, I don't think LocalMonero would help me right? You gotta meet up in person?

Actually no, LocalMonero isn't only for face-to-face deals. The vast majority of trades are conducted completely online using quick payment methods such as bank transfers or paypal or gift cards or cardless cash or ATM cash deposits. You can check out the current online payment method USD offers here.

> Wow surprised how moderate you guys are, if I ask if I should invest in the other coins I'll be hammered with a HELL YES!!

You'll notice the Monero community is very different from others. This coin, for some reason, attracts a very different kind of people.

LocalMonero

• World's first Monero-based P2P trading platform
• World's first cryptocurrency platform to implement Tor single onion as well as I2P
• World's first affiliate program that pays out only in Monero

Providing a KYC/AML-free gateway to go from fiat directly to Monero. Decoupling the price of Monero from Bitcoin, one trade at a time.

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Have you tried LocalMonero? It's not just for face-to-face cash deals, we support any payment method you can imagine, including purely online ones like Zelle.

Your trades are protected by escrow, there's no way the seller can run off without giving you the coins, since our staff will simply release the coins to you in case of a dispute and upon the provision of evidence of your payment.

Let me know if you need any help!

We've just launched a new platform a day ago: https://LocalMonero.co

It's modelled after LocalBitcoins.com: a centralized P2P trading platform where you don't need to fill out any KYC/AML information since you're dealing with another site user directly, with LocalMonero providing escrow for buyer/seller protection and dispute mediation.

Currently there aren't many ads up in the USA (since we've only been online for just over a day), but I'm sure the situation will get better very soon because the community response has been great.

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Please, do not confuse with localmonero.co, these are different and unrelated entities. Watch out just in case in the future it becomes a scam.

PD: note that localmonero.com isn't even redirecting properly from HTTP to HTTPS, lol...

I have made most my Monero purchases from Localmonero.co mostly because it's easy. In my country we have something called "Cash at ATM" which means I can send a code to anyone and they can put that code into the ATM to withdraw cash from my account, you choose how much cash the code will release to them.

Localmonero freezes the XMR on the sellers account once you tell them you have sent the code, they can't release it until you say you have received the funds and if they never send you can dispute which will lock their XMR up, for someone at Localmonero to come and investigate, so it's all pretty safe. There is also a rating system which lets you see how many transactions a seller has had which makes picking a seller pretty easy.

So essentially you're buying Monero with cash, but without having to leave the house, or meet randoms who you have to trust won't just bolt off as soon as you hand them the cash.

If you'd prefer a more anonymous (no ID verification), quicker and easier option and are willing to pay a slight premium over the market price: LocalMonero or MoneroForCash.

Going fiat -> BTC -> XMR is less private and going fiat -> XMR helps the Monero ecosystem become more independent from bitcoin, every cent helps.

Depending on your region it may also turn out to be the cheaper way if you take into account all the withdrawal fees and commissions.

Finally someone asks that question. I was wondering when I got into monero too.

I guess you want history. And not tech related stuff.

So, I have some great links for you to explorez and this may seem like much but even if you don't understand what's said, just read and your mind gets clearer from week to week, not page to page or day to day.

https://www.reddit.com/r/Monero/comments/lz2e5v/going_deep_in_the_cryptonote_rabbit_hole_who_was/?utm_medium=android_app&utm_source=share

(If you want to understand it read the pages wich are linked there too, ofc the conversation at bitcointalk about the bytecoin fake too, comments of the reddit post too)

A nice theory is that nicholas is satoshi

https://www.monerooutreach.org/stories/satoshi-van-saberhagen.html

Tho some argue that it isn't true, also because of all these fake dates in the signatures of the whitepapers and the possible relationship between the writers of the cryptonote protocol and the bytecoin, from wich monero forked from.

Also a nice read is the localmonero.co learning area eich has an article about the history of xmr

https://localmonero.co/knowledge/monero-history

Nicholas van saberhagen is a mystery, like satoshi.

Perhaps even satoshi e.g. because of similar writing, and are bytecoin people also cryptonote people? Why did they make a scam out of bytecoin while the whitepaper is actually great and revolutionary. And so on.

I hope I could help. Correct me guys if I forgot something or said wrong, and please feel free to ask questions. I like discussions :)

That's correct, we're a peer-to-peer platform. Trades are protected by the fact that the seller (of the coins) has to post an arbitration bond in XMR equal to the amount of the trade, and that bond is held until the seller confirms receiving the payment. They have no way of cancelling the trade and getting the bond back after the buyer marks the trade as paid, so the seller can't just run away with the coins after the buyer sends out the payment.

You should give it a shot. If none of the existing offers suit you perhaps try posting your own buy offer with your desired payment method and premium and see if anyone responds. You'd be surprised at how quickly you'll get a response assuming the premium is attractive enough 😄

Tail Emission means, up till now the amount of coin being given to miners has been slowly decreasing. Tail emission is when it stops decreasing and holds at a constant value issued. It’s meant to allow greater stability in the coin’s price than say BTC halving scheme.

More details

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When someone sends you XMR, they aren't actually sending it to your address, they make a new sub address based off of the address you send them. And then, they can't tell whether you have spent your XMR, who you have sent it to, or the amount you have sent. This is because of Ring Confidential Transactions, and stealth addresses. localmonero.co has many great easy to understand guides on how monero works.

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>an attacker will not be able to simply listen for the direction of a transaction anymore, because before it was propagated to everyone, it underwent the stem phase, and the originating node of the fluff phase is not the node the transaction originated from, and it is unknown how many hops along the stem the transaction underwent.

https://localmonero.co/knowledge/monero-dandelion

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> Can I easily buy it with cash or some supposedly anonymous way?

Yes, use localmonero.co, moneroforcash, or similar.

> Is there an easy-to-use wallet app that I can use on my iPhone?

Not yet. MyMonero and Xwallet are in development though.

> Is it faster and cheaper to use than BTC?

It's less likely to have network congestion due to the dynamic block size, and fees are less likely to vary wildly as a result. However, Monero isn't meant to the the fastest or cheapest way to send money. Security and privacy come first. Nevertheless, the median fee over the last 24 hours is $3.61 for Monero and $25.18 for Bitcoin.

> If the answer to any of those is NO, then like... fuck Monero. For now anyway.

You are entitled to your own opinion. Or how about you contribute so that you can help make it better? Everything's on GitHub.

Are you looking to mine or to buy?

If you're looking to buy then I would recommend buying with fiat, not going through BTC. It has two advantages:

1. You help XMR decouple from BTC.
2. You don't leave a permanent paper trail in the BTC blockchain.

Places to get XMR with fiat are:

1. If you want to get as close to market rate as possible: use Kraken. Note: you're going to have to go through ID verification, may take weeks.
2. If you're willing to pay a premium above market rate for speed/convenience/privacy: LocalMonero or MoneroForCash.

With regards to purchasing, if you don't mind verifying your identity then Kraken is your best bet to get the closest possible to market price. If you don't want to compromise your privacy and do things a little quicker, try LocalMonero or MoneroForCash.

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Hey man, you can sell your Monero to me via cash by mail.

Have a look on localmonero.co , I offer escrow for those who feel safe using escrow. No ID is required and is the safest and private way to sell.

Link to my profile: https://localmonero.co/user/soaker

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Ah, you got me. I mean, just look at this transaction!

https://localmonero.co/blocks/search/cd64d5a52e73c7d1a01b178b356fe842ab7c9d860df3317641989e5506117cbe

(unknown wallet) sent (confidential) XMR to (unknown wallet)

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> I’ve looked into buying Monero with fiat directly on localmonero.co, but it looks a little less “professional” than its btc counterpart, and there’s no way to get verified etc. So I’m just wondering how trustworthy the site/sellers generally are, or if most UK users do similar to me and buy XMR with another coin?

While it's true that LocalMonero doesn't have platform-enforced verification, we operate an escrow system just like LocalBitcoins does and your trades are protected by escrow. We've been operating for almost 4 years now and we're even listed in the sidebar of this subreddit.

Make sure to read the terms of any seller you decide to go with and feel free to contact me if you need any help!

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BuyCoinFast, though usually fast, can be quite slow and isn't very newbie-friendly. If you have other options you should consider them

We have a list of guides on how to start here: https://localmonero.co/guides

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I am not sure smart contract is the usual term people use for the Bitcoin scripts involved, given how limited functionality they offer.

Check the article that earlier /u/Gera- already linked in another post, I think it explains it pretty well.

Do you already own the ETH or are you planning to purchase them on Coinbase to then shift them into Monero? Because if you don't already own them, it might be a better idea to buy XMR directly with fiat on LocalMonero or MoneroForCash.

If you want the closest possible price to the market and don't mind a long verification process: Kraken

If you'd prefer a more anonymous (no ID verification), quicker and easier option and are willing to pay a slight premium over the market price: LocalMonero or MoneroForCash.

Going fiat -> BTC -> XMR is less private and going fiat -> XMR helps the Monero ecosystem become more independent from bitcoin, every cent helps.

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