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How To Buy Monero (XMR) on LocalMonero.co

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LocalMonero

Unlike what mass media may tell you bitcoin is not anonymous. All bitcoin transactions can be viewed of the digital currency’s public ledger called the blockchain. Hence, for digital currency users who rate transaction privacy and anonymity highly bitcoin is not the best option. Instead, users who want to be able to have complete personal financial sovereignty are starting to adopt monero (XMR), the leading privacy-centric cryptocurrency.

What is Monero?

Monero is an open source, secure and private cryptocurrency that offers untraceable financial transactions. Launched in April 2014, its default privacy feature has appealed to users who are concerned with mainstream digital currencies becoming less anonymous due to regulatory pressures. Monero is based on the CryptoNote protocol with one time keys being used to ensure transactions between individual parties are unlinkable and remain private.

Users details are shielded from outside observers by leveraging ring signatures and stealth addresses to hide the details of transacting parties. Ring signatures work by mixing a user’s account keys with public keys from monero’s network to design a “ring” of signers making it difficult for anyone to view your balance on the blockchain. Another privacy-enhancing feature would be the use of stealth addresses which are one-time addresses, generated randomly for each transaction on behalf of the buyer. This makes it near impossible to link the transaction to any of the parties published addresses.

Monero has no block size limit and thus is able to handle a large volume of transactions per seconds. It can be purchased through exchanges like Kraken, Poloniex, and Bitfinex. However, one exchange that is slowly gaining traction in the monero community is the new peer-to-peer exchange Localmonero.co.

Buy Monero anonymously using LocalMonero.co

LocalMonero is a Hong Kong-based cryptocurrency exchange that was launched in August 2017. Similar to LocalBitcoins, the platform allows users to purchase monero using fiat currencies. However, it differs from Localbitcoins and other traditional platforms by laying emphasis on the privacy of its users.

To begin with, the exchange does not require users to provide ID and address verification. The company also doesn’t retain any IP logs and trade chat logs are stored for 180 days only for the purpose of dispute mediation. The logs and any attachments uploaded in the chat are encrypted to prevent unauthorized use. The platform also allows users to buy and sell monero offline at a place of their choosing and is available worldwide.

How to Use the Exchange

Signing up to the platform is free and straightforward with requirements being a username and a password. Users have the option to register using their email address or not. Once a user has logged in he will view a list of people buying and selling XMR and their locations. Currently, there a number of active trades on the platform, indicating there was a need for the platform in the market.

LocalMoneroUsers can select any of the listed ads showing buy and trade orders and execute trades. It would be advisable to filter the search results using the “buy” and “sell” tab on top of the page by inputting the country, local currency and preferred mode of payment. This way users can concentrate on offers that meet their criteria. Alternatively, if nothing looks appealing you can scroll to the bottom section of any trade and create an ad. For the ad to be visible you need at least 1.000000000000 XMR in your LocalMonero wallet. Advertisers on the platform are charged a 1% fee on any completed trades. The exchange allows users to deposit funds in their accounts through bank transfers or via other conventional means.

Africans seeking to purchase XMR on LocalMonero will find the site flexible as users can contact the buyer or seller directly, request a meetup and most importantly, make use of the variety of payment options like Paypal, cash and even, “cash by mail”.

If you buy monero on the exchange the cryptocurrency will appear in your LocalMonero wallet and, thereafter, send it to your personal Monero wallets. The reverse will happen when you want to sell as you have to top up your LocalMonero account with monero from your other wallets. Sending or receiving Monero to your LocalMonero wallet should take about 10-60 minutes.

All online trades are protected by an escrow to ensure both transacting parties fulfill their obligations. Users who have issues with a trade, or payment for the matter, can dispute the trade and it will be resolved in a day or two by the LocalMonero team.

If you want to access LocalMonero while hiding your IP address, you can use Tor or I2P to do so to make your monero purchase anonymous and very hard to trace.

Presently, the price of monero (XMR) is currently at around $90 and the cryptocurrency has a market capitalisation of $1.3 billion. LocalMonero offers a direct and hassle-free way to trade fiat currencies for XMR that is secure and ensures users remain anonymous.

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Brave Rewards: How to Earn BAT Using the Brave Browser

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Brave Rewards

Chances are you are using an ad blocker on your browser because you find ads intrusive. But did you know there is a free browser that comes with built-in ad and tracking blockers? In this guide, you will learn about the Brave browser and how you can earn Brave Rewards.

What is Brave?

earn bat

Brave Software introduced the first version of Brave in 2016, a web browser that blocks ads and website tracking while allowing users to tip content creators with Brave Rewards.

Advertising websites target the data of users, therefore, infringing on their privacy. Brave is mitigating this issue by offering privacy protection. As a user of Brave, you have the power to choose whether you want to view ads or not. You can earn Brave Rewards by opting into ads that respect user privacy.

Content creators that publish on other browsers like Google Chrome depend on advertisements to make money. However, on Brave, you can tip content creators and support them for their contributions directly.

Here is how Brave stands out:

  • You can turn Brave Rewards and ads on or off
  • Brave ads do not retrieve your personal data
  • Brave picks ads that are suitable for you
  • When you view an ad on Brave, you get 70 percent of what the advertiser paid
  • Ads on Brave appear like system notifications and are, therefore, not intrusive
  • Since brave blocks harmful ads and trackers, you will experience faster browsing

At the end of November 2019, Brave hit more than ten million active monthly users after the release of Brave version 1.0. Like Google Chrome, Brave is based on Chromium, Google’s open-source software project.

How to Start Earning BAT

Basic Attention Token (BAT), the digital currency used on Brave, is based on the Ethereum blockchain. To start earning BAT, follow these steps:

  • Visit the Brave website and click “Download.”
  • Choose the download version that suits your operating system. Brave is compatible with Windows, macOS, and Linux. You can also access the Brave apps for Android or iOS on the same page.
  • Open the application and click “Run.”
  • After a second or two, the application will start downloading.
  • Once the download process is complete, the installation process will begin.
  • When your browser has installed, you can now launch it.
  • Go to the main menu and click “Brave Rewards” then the “Rewards Icon.” Next, click on “Rewards Settings” to enable Brave Rewards.
  • On this page, turn on Brave Rewards and ads.

You can now start surfing the internet and viewing ad notifications as they come. Note that you will receive BAT for viewing the ads not for clicking them. Brave sends an alert on or before the fifth of each month allowing you to claim the Brave Rewards you have earned from viewing ads.

Furthermore, you can choose to hold or tip content creators with your Brave Rewards. To view the BAT you have earned, go to the “Rewards Icon” on the main menu and then click the “Rewards Panel” which will appear on the right-hand side of the address bar.

Brave allows users to transfer their BAT to another wallet where they can convert it to other digital currencies or to fiat and have it transferred to their bank accounts. To do this, you have to link your Brave wallet to your Uphold account.

Besides using the Brave browser, you can also earn a small amount of BAT for participating in the Coinbase Earn Program. The program rewards you in BAT for learning about Brave and BAT.

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Scam Alert! Scammers in Kenya are Now Using Facebook’s Libra to Defraud Crypto Users

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Libra Kenya

Scammers in Kenya are now using Libra to make quick gains from unsuspecting victims through a company called Calibra Kenya.

According to its website, the “company” is promising to increase investors’ money three-fold within six months if they invest amounts from KES 20,000 to KES 950,000. The deadline for this “investment deal” (read scam) is November 31, 2019.

Facebook’s Libra is yet to Launch

Bitcoin Scam“Calibra Kenya” is cashing in on Facebook’s Libra, a cryptocurrency that is not yet rolled-out. Calibra Kenya told Gadgets Africa that they are waiting for the Libra launch in January 2020 for investment to begin. However, it is currently unclear when Libra will launch. Facebook had originally announced 2020 as the launch date but the company has said that it will only launch until it has sorted out regulators’ concerns.

Since Facebook announced the cryptocurrency in June, the embattled crypto project has lost a quarter of its members while Mark Zuckerberg is set to testify before the US House Committee on Financial Services today.

The Kenyan “company” has borrowed the name from Libra’s digital wallet, Calibra.

Scammers That Are Also Self-Proclaimed Philanthropists

“Sir John,” a Twitter account holder promoting Calibra Kenya, claims he is a philanthropist. This is similar to a scam story BitcoinAfrica.io recently covered where the alleged swindler was a self-proclaimed philanthropist on LinkedIn. The aforementioned Twitter account also belongs to the Libra Cryptocurrency Association Kenya.

While scamming and philanthropy have nothing in common, it appears that scammers could have found a way to entice their victims in the name of social good.

Moreover, the fact that Sir John claims he is a nature-lover and a passionate entrepreneur and investor in the fintech industry goes to show how far scammers will go to appear legit.

Spotting the Red Flags

It might be obvious to most that Calibra Kenya is a scam but to some, this might not be the case. Therefore, here is a list of what is wrong with this “investment opportunity”:

  • Libra has not yet launched. Anyone asking you to invest in a currency that does not exist is a fraud.
  • Any individual or company that is promising a 50 percent return every month on investments is a scammer. Such high returns are unrealistic. Additionally, in a volatile market, returns cannot remain constant and are bound to fluctuate from month to month.
  • Facebook’s Libra only has one association, the Libra Association, which currently has 21 members. These members are well-known international companies like Uber, Spotify, Vodafone, Mercy Corps, Xapo Holdings, PayU, and Coinbase. Libra Cryptocurrency Association Kenya and Calibra Kenya, therefore, have nothing to do with the real Libra Association.
  • Should you consider a website with grammatical errors suspicious? Yes, you should! Calibra Kenya’s website is guilty in this regard.
  • According to Calibra Kenya, investors will get their money back at the end of the contract. This is a cause for alarm as any legit investment platform should allow investors to withdraw their investment plus returns at any time.
  • On their website, Calibra Kenya throws around crypto and blockchain-related terminologies to confuse and mislead their readers. For instance, they claim that they create smart contracts, that they are the official Libra cryptocurrency exchange in Kenya, and that they are a tier two member of the Libra Association. This does not make any sense and is only meant to confuse readers.
  • The website contains a lot of payment information which is another red flag. It indicates they are only focused on making money.
  • Their website is too “salesy.” Words like “investment opportunity,” “invest now,” and “we make your dreams a reality” are obvious red flags.
  • Calibra Kenya does not provide a platform for investors to track their investments. That means that once you send them money, you have no way of finding out how your investment is performing. The only mode of contact is a phone number that they could easily disconnect.

Unfortunately, reports of crypto-related scams are increasing as major developments take place in the industry. Similar fraudulent websites also appeared during Telegram’s token sale, for example.

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Particl Launches Decentralised Marketplace With Zero Commission Fees

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Privacy-focused cryptocurrency project Particl has launched a decentralised marketplace with zero commission fees. The new e-commerce platform is leveraging blockchain technology to compete with the likes of Amazon and OpenBazaar.

Privacy and Zero Commission Fees

ParticlCryptocurrencies can be difficult to spend on a day-to-day basis and Particl wants to solve this through its private coin, PART. On the Particl marketplace, users can put the digital currency to use.

The new decentralised marketplace respects user privacy and does not require personal information from its users. The platform only requires a shipping address. Moreover, the decentralised nature of the Particl marketplace ensures that no commissions are added to sales as is the case on Amazon.

According to an article on Big Commerce, fees for sellers can be as much as 45 percent of a product’s cost on Amazon. Particl’s zero-free model, therefore, enables sellers to significantly increase their revenue and lower their prices to stay ahead of the competition while still making a profit.

“Using a combination of P2P and blockchain technologies, Particl Open Marketplace can provide a verifiable private shopping experience that ensures no user data can be created or collected by any party other than the one you are transacting with. The Particl protocol also brings the cost of buying and selling online to the bare minimum as no central entity can charge fees,” said Particl’s Project Marketing and Strategy Manager Paul Schmitzer.

How Particl’s Decentralised Marketplace Works

Particl is uniquely approaching fraud and trade insurance through the use of a double deposit escrow system without intermediaries and with zero fees. This system is based on MAD game theory where two parties deposit PART coins as collateral into a smart contract. Once the transaction between them is complete, the coins are released back to the parties and no fees are charged. This system allows users to be in control of their transactions and to eliminate fraud.

 

Since the marketplace is decentralised, the protocol generates all listing fees and redistributes them to the global network of users.

Particl is made up of three components: an untraceable multi-purpose privacy coin, a private decentralised marketplace where users can shop with cryptocurrencies, and a platform where developers can build decentralised applications.

Particl allows a wide range of cryptocurrencies and uses atomic swaps and third-party integrations to convert these coins to PART during transactions. The company will soon add more payment options to its marketplace.

In 2018, Bitcoin Africa talked to Particl’s spokesperson Desi-Rae about the project. Read the full interview here.

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