Question 1

What are the benefits of peer-to-peer crypto trading?

Accepted Answer

Peer-to-peer (P2P) crypto trading allows for direct transactions between individuals without the need for a centralized intermediary. This method of trading improves privacy and reduces transaction costs. P2P trades also offer greater control over the terms of trade and potentially better pricing due to the competitive nature of the marketplace. Additionally, P2P platforms often support a wide range of payment methods, making them accessible to a broader audience.

Question 2

How do I choose the best Monero trading platform?

Accepted Answer

When it comes to the best Monero trading platform, ideally you want something that doesn’t require KYC. Keep in mind that you will likely come across many “no-KYC” platforms that will later require you to go through KYC verification to access XMR transactions (or perhaps even their P2P services).

Question 3

Does LocalMonero require KYC?

Accepted Answer

No, LocalMonero did not require users to complete KYC procedures. This feature was key to its appeal as it allowed users to trade Monero anonymously, which was fitting for the privacy coin's privacy-centric priorities.

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