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Read my full statement on the LocalMonero shutdown here.

This is my FAQ page, which should answer most common questions about me and how peer-to-peer crypto trading works.

What does "hashpower" mean?

In this context it's a techie term referring to computing speed/time to solve cryptographic algorithms, mostly used to verify encryption and process cryptocurrency transactions. I picked the username because I'm a nerd, and it was available.

How do you trade crypto?

It depends on the type of trade and which specific currency, but generally there are two main ways - through central exchanges (I'd recommend Kraken or Coinbase if you'd like to go that route) or by directly finding another person who wants to buy/sell. I've used both of these methods, and they each have their pros and cons. An exchange might be best if you want to get into crypto and don't already know anyone to fulfill the other end of your trade. On the other hand, direct or "peer-to-peer" can be quicker and more secure if you don't already have an exchange account (the first time sign-up process can take a while), you're after a specific currency that the exchange you're with doesn't support, and you have a friend who's looking to buy at the same time you're looking to sell, for example.

Why would someone trade directly instead of an exchange?

At the end of the day it's a personal choice, but there are many reasons. Privacy and security is probably the main one, as big exchanges are popular hacking targets and could mishandle your information or store it longer than they need to. As well as security, some people prefer the quick and personal process of trading directly with a friend especially for smaller one-off transactions. Many exchanges also straight up don't support all currencies, have complicated trading UIs, or charge excessive fees to withdraw ($40 to withdraw BTC is insane, thanks CoinSpot)

Is peer-to-peer safe? What about KYC?

Banks love to ask this one. As an individual I'm not legally required to undergo the same KYC reporting that big exchanges do if I'm buying/selling directly to a friend, but I certainly already have more trust in the people I trade with than those companies using automated identity providers. If I'm not using a regular exchange for a trade, I'll only sell to people I already know and trust. In most cases these are people I already know personally, or people I met years ago through online peer-to-peer exchanges when crypto was way less popular and have already ID verified before the rise of AI KYC breakers. I haven't traded with new buyers for ages, and that's unlikely to change anytime soon.

Why won't you accept new buyers? What's the risk?

In short, too much fraud. When they can't go to exchanges, individual scammers and even large fraud rings will try to use peer-to-peer sellers as a way to run off with scam funds. This is an ongoing issue, but it's gotten a lot worse recently due to the rise of AI programs that scammers use to make realistic photos of fake IDs or even join live video calls as people who've had their identity stolen. Combine this ability to use stolen IDs with Australian companies being responsible for some of the worst data leaks in the world (we have basically no privacy laws or consequences for mishandling private data, think GDPR) and the risk is just too high. I'll leave taking those risks up to actual exchanges, thank you very much :')

So, how can I buy or sell crypto to you?

Assuming I am willing to take the other side of your trade offer, we can negotiate an exchange rate and (if preferred and available) use a trusted P2P exchange/escrow service. Keep in mind that I'm just a person and not an exchange myself, so I may not be available to take the other side of your trade. My safety and security is also much more important to me than accepting trade offers from people I don't know, so if we haven't traded before and I don't already know you I'd need someone I know and trust to introduce us and vouch for you first before even considering it.