tl;dr
LocalMonero, a peer-to-peer exchange for the privacy coin Monero (XMR), has announced the shutdown of its platform. The parent company, AgoraDesk, cited a combination of internal and external factors for the decision. Regulatory challenges, particularly regarding privacy coins, have contributed to t...
LocalMonero, a peer-to-peer exchange for the privacy coin Monero (XMR), has announced the shutdown of its platform. The parent company, AgoraDesk, cited a combination of internal and external factors for the decision. Regulatory challenges, particularly regarding privacy coins, have contributed to the closure, echoing a trend seen with other P2P crypto trading platforms.
With major exchanges delisting privacy-preserving tokens like Monero, users are left with limited options. Alternative means of purchasing Monero, such as using decentralized exchanges, have been discussed within the community. Despite the challenges, the closure underscores the ongoing importance of decentralized systems and the resilience of the Monero network.
LocalMonero has been "a cornerstone of the no-KYC Monero ecosystem," semi-pseudonymous privacy advocate Seth For Privacy said, adding that with its closure Monero users are left with few fiat-to-crypto rails for the token. It is an "incredibly sad day," he said.
On Reddit and the LocalMonero forum, users discussed alternative means of buying XMR, including purchasing another cryptocurrency like Bitcoin or Litecoin, sending it to the privacy-focused Cake Wallet, and then swapping for XMR. The Bisq peer-to-peer network also enables swaps between cryptocurrencies into Monero. Kraken also still offers Monero purchases, though it excludes users from certain countries and will extend that list to more countries in the future.
Less secure buying options include purchasing directly from someone on messaging apps like Telegram. LocalMonero recommended non-custodial, decentralized exchanges Haveno and Serai as open-source alternatives that have yet to fully launch.
While the old adage that "if there’s a will, there’s a way" will likely always remain true for those looking to make anonymous transactions in cryptocurrencies like Monero, it is undoubtedly the case that blockchain-based privacy tech is becoming harder to access. And it’s hard to see this trend reversing. But, every day the Monero network is maintained, and every day that XMR is used for purchases, is another day that proves the power and resiliency of decentralized systems.
More about LTC Properties Inc
LTC Properties Inc Market Analysis LTC Properties Inc Market Analysis Summary
LTC Properties Inc (LTC) is a real estate investment trust (REIT) that focuses on senior housing and healthcare properties.
Industry: Real Estate & Construction
Sector: Real Estate Investment Trusts
Market Cap: 1,502,075,000
Stock Price: $17.99
Dividend Yield: 2.28%
P/E Ratio: 1.92
EPS: 4.672
Beta: 0.415
Volume: 194,919,000
52-Week High: $34.83
52-Week Low: -$0.3
Price Change (1 year): 0.066