this post was submitted on 04 Aug 2023
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Monero

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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.

  1. How are most people acquiring Monero with Fiat?

  2. 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?

  3. 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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[–] LosTim@monero.town 5 points 1 year ago

Thanks you for taking the time to answer. That makes sense. KYC is devastating to BTC but not necessarily to Monero. Privacy is built in. How novel.