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LocalMonero REVIEW
LocalMonero Preview: (to pause video, simply tap/click on it)
Summary
Created for person-to-person Monero transfer
LocalMonero is a Monero advertisement and trading platform
Read 100% Free LocalMonero Review by Scamorno Team
Details
| System | LocalMonero |
|---|---|
| Website URL | www.LocalMonero.co |
| Trial | Start Trial |
| Overall Score | 9.3/10 |
FULL REVIEW OF LocalMonero
LocalMonero is a new trading service launched in August 2017. The service plans to work in a similar way to popular platforms like LocalBitcoins: you can use LocalMonero to find Monero buyers and sellers in your area.
The website was launched by a team of Monero enthusiasts from Hong Kong. You can access the website today at LocalMonero.co. Like LocalBitoins, you use LocalMonero to find local buyers and sellers who are dealing with Monero. Users can meet and exchange Monero for cash, or purchase it online from a local seller. You will then pay in fiat currency – like in cash or an online transfer to the seller.
Review Verdict: LocalMonero is a legitimate platform that works
How Is LocalMonero Different From Other Crypto Buying Platforms?
LocalMonero, like the XMR currency itself, emphasizes anonymity. The platform doesn’t keep any IP logs. It also does not even require users to have an email address. The company keeps trade chat logs for 180 days exclusively in the event of dispute mediation. The logs are encrypted, and all attachments uploaded in the chat are encrypted to prevent unauthorized use.
Obviously, it’s difficult to create an anonymous trading platform while still allowing users to transfer funds in a secure way. LocalMonero does require location data from clients. LocalMonero makes use of Google APIs to track location data. However, users can manually override this feature at any time by keying in their own longitude and latitude when searching for local trades. Ultimately, LocalMonero allows users to buy Monero offline, with cash, in a public and secured place – like a library or coffee shop. You can also choose to sell Monero to a local buyer, or buy it from somebody who already has Monero.
The advantage of purchasing Monero through LocalMonero is obvious: it makes transactions more anonymous than purchase Monero through a conventional online exchange.
Today, when you buy Monero online, you will first need to buy bitcoin. Monero’s transactions aren’t viewable on a public ledger. However, bitcoin’s transactions can be easily seen by anyone who puts in the effort to track it. In other words, to purchase Monero, you first need to purchase bitcoin, which leaves a clear digital trail. LocalMonero avoids this problem by making Monero XMR transactions more anonymous (aside from the person you’re transacting with). You can pay with fiat currency – like a pile of cash or an Interac e-transfer – and walk away with Monero.
LocalMonero is based out of Hong Kong. The site just launched in August 2017, so it is currently still fairly new. Right now, you can use the website to find buyers in Canada, the UK, the United States and the United Arab Emirates.
The site also allows users to top up their account through bank transfers and other conventional payment methods, if they choose to do so. Using the platform is straightforward. On the main page of LocalMonero, you can see a list of people selling and buying Monero, along with their location. The website also features online-only Monero sellers. These sellers advertise purchasing Monero with Interac e-transfer (the Canadian online bank transfer network), PayPal, or even “cash by mail.”
Registering, buying, and selling Monero XMR is completely free on LocalMonero. Users who create advertisements on LocalMonero are charged around 1% fee for every completed trade. Meanwhile, transactions to the wallets of other LocalMonero users are free (i.e., members can transfer cash between wallets on LocalMonero for free). Transactions to other Monero wallets are also subject to the Monero network transaction fee. The transaction fee is paid through your LocalMonero wallet when you send a transaction.
LocalMonero announced itself to the web in a Reddit post at the end of August. The developers don’t provide much information about themselves or their background – which can be expected when you’re dealing with Monero. They simply write about themselves as, “a team of Monero enthusiasts based in Hong Kong.” You can contact the team through email at contact@localmonero.co.
http://youtu.be/VaLx-wqILuc
Review Verdict: LocalMonero is a legitimate platform that works
Consumer Alert Regarding LocalMonero
The success of LocalMonero has given rise to many frauds who try to sell their own platforms in its name. This is a big issue as many customers have lost their money in joining from such fake sites. It is advised that customers should be really careful when they are subscribing and should do some research before they join any website. To spot these, watch out and avoid sites that claim to write about Cory Mitchell’s LocalMonero, yet the writeup is completely garbage as they are created by software and spammed all over the internet. It is always better to avoid buying from any other website other than the official one. Therefore, it is highly advised that consumers do careful research, or only buy join the site from the official website here – http://LocalMoneroOfficial.com/ (link opens in a new window). The official website that they have includes the legitimate platform.
Conclusion about LocalMonero
LocalMonero was also released at the end of August – so it was timed quite perfectly with the rise in value of Monero. LocalMonero offers similar functionality to LocalBitcoins: it helps members find reputable Monero buyers and sellers willing to trade fiat currencies for Monero. You can check out the site online today at the button link below.
