Vending for monero trading (monero.town)

submitted 5 months ago by 3kh0@monero.town to c/monero@monero.town

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Hello fellow Monero users,

Before LocalMonero had shut down, I was an active vendor in selling Monero for fiat to help onramp many people. Now that it is gone, I was wondering if are there any good alternatives for selling Monero.

Thanks!

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[-] iiGxC@slrpnk.net 3 points 5 months ago

Out of curiosity, how do you get monero to sell? Mining? Buying from a kyc place like kraken and then selling?

[-] 3kh0@monero.town 3 points 5 months ago

Yes, I buy Monero from Kraken, move it to a wallet I own, and then to LocalMonero for selling. I understand this might not be the best approach but it works.

[-] iiGxC@slrpnk.net 2 points 5 months ago

Is there anything people should know if they want to do this? Is there a guide on how to do it safely, so you don't get scammed or run into legal troubles?

[-] BD89@lemmy.sdf.org 2 points 5 months ago

Just use a reputable wallet. I prefer Monerujo

[-] azalty@monero.town 2 points 5 months ago

You’ll probably get into legal troubles if you do it enough in most countries, but you can make a bit of money with that

[-] XMRfamily@monero.town 2 points 5 months ago

I am LM trader. There are lots of different important things you should know. And sometimes experience is the best teacher. But things get very complicated depending on which state you live in and there laws plus in general traders should get MSB license from fincen, but obviously each to there own