Monero

1666 readers

33 users here now

This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

Wallets

Mac & Linux (Cake Wallet)

Instance tags for discoverability:

Monero, XMR, crypto, cryptocurrency

founded 1 year ago

MODERATORS

submitted 1 year ago by [email protected] to c/[email protected]

15 comments fedilink hide all child comments

Why are prices on LocalMonero much higher than value in the market?

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 10 points 1 year ago* (last edited 1 year ago) (3 children)

2 reasons

More risk to the seller
Centralized exchanges suppress prices on purpose to make people uninterested in monero because its price is quite stable.

I consider the localmonero price the real market price and the exchange price is the KYC discount.

[–] [email protected] 4 points 1 year ago

I like to think of it as the KYC discount.

[–] [email protected] 1 points 1 year ago

Okay, now have better picture

[–] [email protected] 1 points 1 year ago (1 children)

I think the price is quite stable BECAUSE the exchanges keep it on the same price.

[–] [email protected] 4 points 1 year ago

It's stable because it's the only crypto that people actually use as currency.