shortwavesurfer comments on Why LocalMonero so expensive?

submitted 3 years ago by Gargari@lemmy.ml to c/monero@monero.town

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

[–] shortwavesurfer@monero.town 9 points 3 years 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.

[–] jet@hackertalks.com 3 points 3 years ago

I like to think of it as the KYC discount.

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[–] Gargari@lemmy.ml [S] 1 point 3 years ago

Okay, now have better picture

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[–] newIdentity@sh.itjust.works 1 point 3 years ago (1 child)

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

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[–] refurbishedrefurbisher@lemmy.sdf.org 4 points 3 years ago

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

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