Monero

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

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Monero, XMR, crypto, cryptocurrency

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

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

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[–] [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] 3 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.