Why LocalMonero so expensive? (lemmy.ml)

submitted 1 year ago by Gargari@lemmy.ml to c/monero@monero.town

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Why are prices on LocalMonero much higher than value in the market?

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[-] mister_monster@monero.town 5 points 1 year ago

They're not that much more expensive. Have you been to a bitcoin ATM? You'll tell them to go fuck themselves with those kinds of prices.

What you're seeing on localmonero is the true price for p2p. Exchange prices are lower because of the bullshit you have to tolerate to use them, bank accounts, KYC etc. There's a premium on p2p monero because it is better.

[-] LosTim@monero.town 1 points 1 year ago

I was thinking about getting BTC at an ATM then buying XMR. Do that ATMs go through exchanges? I've never used one and was wondering what the privacy implications were...

[-] mister_monster@monero.town 3 points 1 year ago

Basically they scan your ID, there are limits and stuff, KYC tiers, different per company.

[-] Saki@monero.town 3 points 1 year ago

Maybe depending on the countries/ATMs? Is this document no more up-to-date?

https://archive.org/details/how-to-buy-non-kyc-monero

This article uses the method described in How to use Text Verified to buy non-KYC bitcoin at a Bitcoin ATM (Wook 2022) and builds on it by describing how to use the non-KYC bitcoin purchased at the Bitcoin ATM to buy non-KYC monero through Bisq.