(Local) Monero:
A New Local in Town
The very popular "LocalBitcoins" has provided a meeting place for individuals looking to transact Bitcoin over the internet, better known for the "in person" search option, allowing traders to meet-up locally to purchase or sell Bitcoin in exchange for cash. The simplistic approach for users to purchase Bitcoin using LocalBitcoins instead of registering with a currency exchange and sending over numerous documents to verify your legal identification followed by a short period where you may not has access to the coin(s) you purchased. If you have not seen or heard of any other "Local-XYZ-coin website", one that is earning it's traction and popularity in the community goes by the name "LocalMonero"... Take your best guess on what the website provides, and no, they aren't providing more document requests or KYC/AML
LocalMonero offers 2 ways to access it's site and features:
Using your favorite web browser by navigating to the URL (Brave Browser is highly recommended, read more about Brave here!
Users focused on protecting their privacy LocalMonero can be accessed through it's onion address using the Tor Browser
http://localmonerogt7be.onion/
(LocalMonero even offers a non-javascript version to access all it's services without having to compromise the security of your computer)
Similar to LocalBitcoins, LocalMonero has tons of listings for virtual transactions in exchange for PayPal payments, a wide variety of gift cards, and several other online payment processors.
Are my funds safe? What if I get scammed?
-Each transaction on LocalMonero is handled by their own escrow, or transaction service, to ensure buyer protection.
It's nice to have an escrow service, how much am I losing in fees?
-Still hard to believe this personally, LocalMonero takes a 0% fee, that's correct 0%. There is a catch however. If you are a seller there is a 1% transaction fee that will only occur after a successful transaction has taken place... The catch isn't that bad, right?
Earn passive XMR daily through LocalMonero's affiliate program!
Another bonus service that LocalMonero offers it's users is a lucrative affiliate program. All users have the option to share the word of LocalMonero to friends and other like-minded, crypto-enthusiasts, using their own personal referral link... Show your support for T.C.I. if you appreciate the content by simply using ours!
LocalMonero offers affiliates 20% of the sites fees taken from BOTH users in every transaction.
In total, you are earning 40% of the 1% fee LocalMonero charges on each transaction.
Quick Example: A friend that signed up using your affiliate link purchases 100 XMR. The 1% fee is taken by LocalMonero, in this case, 1 XMR. Now your 40% affiliate cut puts 0.4 XMR into your wallet, long day, right? All affiliate earnings are processed and your account credited the same or following day, no waiting days or weeks to be paid out!
Read more about LocalMonero's affiliate program here
Find any bugs? Hunt down site problems and get paid for your work!
If you're tech-savvy, you've installed your share of printers for your relatives, you're a crypto-crusader, or just looking to make some extra dough, LocalMonero has ongoing bounties for multiple bugs or site-wide issues discovered by its users. Although I prefer to go by "Security Researcher" being that I feel ever so slightly more important... Security bounties are processed and rewarded for those who find them no matter what your title may be.
See what meets the criteria for claiming a bug bounty here, lists and security thresholds for each qualifying bug found, and how to report one if you're so lucky to do so.
Thanks everyone taking the time to read and brush up on some new topics in the crypto world. We all wish the best of luck with any futures transactions!
Stay safe! Always meet your partner for a crypto transaction in a public space like a coffee shop or internet cafe in the daylight!
Where do you see the future of Local-altcoin services going? Will LocalMonero catch on like LocalBitcoins did, or do you find it to be a unnecessary addition?
Leave your feedback for discussion in the comments below!
