LocalMonero is shutting down (localmonero.co)

submitted 6 months ago by rottenwheel@monero.town to c/monero@monero.town

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[-] CaptainEffort@sh.itjust.works 9 points 6 months ago

Whoa wait, what’s LocalMonero and how does it relate to Monero? Does this impact Monero itself?

[-] dukethorion@lemmy.world 9 points 6 months ago

It may impact your ability to acquire Monero.

They facilitated trades of XMR for fiat.

[-] CaptainEffort@sh.itjust.works 4 points 6 months ago

Fuuuck so, and sorry for my ignorance, if I use something like Kraken to get monero, this could end up affecting that?

[-] dukethorion@lemmy.world 10 points 6 months ago

Kraken is a CEX, "centralized exchange".... If they still support XMR, eventually they won't, like all other US exchanges.

[-] CaptainEffort@sh.itjust.works 4 points 6 months ago

Damn, that really sucks. So is this just a death sentence then?

Btw thanks for the help, I use monero but am totally ignorant to how most of this works.

[-] dukethorion@lemmy.world 7 points 6 months ago

No, depending on how fast the developers can get done with the decentralized exchanges / swaps so that they work perfectly and are somewhat easy to use. They'll most likely want these to be hidden services to prevent also being shut down (I am only assuming that's what happened to L.M.)