August has been a great month for Monero. XMR crossed the $100 mark and is nearly touching $150. The price is rising on a daily basis. With so much activity around Monero, I thought it was best to provide another write-up in August to address some of the key developments.
Yes, finally it is here. LocalMonero, based in Hong Kong, is a first peer trading platform that permits any one to trade local fiat currencies for Monero (XMR). This is very similar to the LocalBitcoins setup.
As a user, you can either post an advertisement to sell Monero or find a seller to buy Monero. You can post an advertisement mentioning how you want to get paid (e.g. bank transfer, cash, online payment processor like PayPal, gift cards, etc). On the other hand you can search for sellers using a preferred payment method. LocalMonero will keep the Monero in an escrow till the deal is finalized by both parties. LocalMonero can also step in to mediate any dispute that may arise.
Given that the site has launched recently, the trades may be minimal. However, expect it to grow as the community finds more support and Monero is accepted.
Monero on Bithumb
Will it? Won’t it? There was a lot of speculation on the listing on Monero on South Korea’s largest cryptocurrency exchange – Bithumb. The good news, Monero is finally listed on Bithumb as of 27 August 2017, so expect it to be traded heavily.
There was some speculation earlier in the week, wherein there was an announcement from Bithumb mentioned that the Monero listing would be delayed due to ‘blockchain instabilities’. That thing is however now past all of us.
In order to encourage XMR trading, Bithumb has planned an event from 2 September to 3 September in which 50 Monero traders with the largest transactions will be rewarded. Now that will be one heavy weekend. Looking forward to that. You can read more details on the Monero top trader event.
Android Wallet – Monerujo
A testing release of the Monero Android wallet – Monerujo “Silver Bharal”, Point Release 2 was announced on 22 August. This is is a stable release which allows for easy sending and receiving XMR. However, sending is restricted to the Testnet for now. With this release, the official release of the wallet may be very close.
In case you are wondering, Monerujo means “Monero Wallet” in Esperanto.
You can read the previous version of the Monero news article here.
Please also share this article on your social media feeds, so that we can all spread the news.