monero cryptocurrency

Monero is Working to Get a Version of LocalBitcoins

A group in Hong Kong that is self described as miners enthusiasts, have launched another version of the popular localbitcoins.com. Users of the new site can meet up and change monero for physical currency, or use the website to buy it online.

Monero is a cryptocurrency similar to Bitcoin, that was created in 2013 with the advanced use of blurring out transactional data by using a process titled “ring signatures.”

LocalMonero.co provides a similar privacy methodology to the crypto-currency itself. The creator stated that “we don’t keep any IP logs and we don’t require users to have emails. We keep trade chat logs for 180 days for purposes of dispute mediation. The logs are encrypted and all the attachments uploaded in the chat are watermarked and encrypted to prevent unauthorized use.”

Privacy is something that is difficult to come by but with the main goal of the site emphasizing connections between traders based on location, it does its best to keep privacy and security at a high standard. LocalMonero uses Google APIs for the purpose of location, but it also allows the users to manually override this and put in their own location with a given latitude and longitude.

Towards the end of August, monero was in many headlines due to the fact that it shot up 80% in one day, shooting up from $35 to $95 per coin. The price hike can be attributed to an announcement in South Korea that the exchange known as Bithumb would soon pair up with monero and offer its services to the cryptocurrency.

Officially introduced on August 27th, the pairing between Bithumb and monero made Bithumb reach an all-time high of $153.31 only one day later. Afterward, one coin of monero shot up to an also all-time high of $128.

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