Some qestions about buying Monero with fiat... (monero.town)

submitted 1 year ago* (last edited 1 year ago) by LosTim@monero.town to c/monero@monero.town

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Hey All,

This community has been super helpful so far. And was hoping you guys might be able to answer some simple questions I had about acquiring Monero.

How are most people acquiring Monero with Fiat?
I've looked into using localmonero but was unsure about the pros and cons of various payment methods. PayPal, Venmo, etc. Is there a standard localmonero Meta for lack of a better term?
Wouldnt all ways to purchase monero on localmonero effectively be KYC. Since all of the various apps used to send fiat would have to have my info?

Answer some or all of them, or just go off about whatever you want since I'm trying to soak in as much tribal knowledge as possible.

Thanks in Advance

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[-] k4r4b3y@karapara.net 2 points 1 year ago

Try to use localmonero as much as possible. That way, you will be stimulating the local monero sellers in your area. Much better than relying on faceless corpos for your XMR hit.

If that is not possible/expensive/etc. you can always get some LTC on a centralized or decentralized exchange and use the in-wallet exchange services of stackwallet.com or cakewallet.com

LTC has cheaper transactions fees compared to BTC. That makes LTC a better onramp onto XMR.