{"id":30333,"date":"2024-05-08T09:52:05","date_gmt":"2024-05-08T09:52:05","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/moneros-largest-p2p-trading-platform-shuts-down\/"},"modified":"2024-05-08T09:52:05","modified_gmt":"2024-05-08T09:52:05","slug":"moneros-largest-p2p-trading-platform-shuts-down","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/moneros-largest-p2p-trading-platform-shuts-down\/","title":{"rendered":"Monero&#8217;s largest P2P trading platform shuts down"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/monero-xmr-coin-symbol-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/monero-xmr-coin-symbol-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/monero-xmr-coin-symbol-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/monero-xmr-coin-symbol-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">LocalMonero is a peer-to-peer\u00a0<\/span><span style=\"font-weight: 400\">(P2P) trading platform for privacy-focused coin Monero (XMR).<\/span><\/li>\n<li><span style=\"font-weight: 400\">The platform is winding down, with the website set to shutter on November 7.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">LocalMonero, the largest peer-to-peer (P2P) trading platform for <a href=\"https:\/\/coinjournal.net\/news\/tag\/monero\/\">Monero (XMR)<\/a>, is shutting down.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The P2P platform <a href=\"https:\/\/localmonero.co\/blog\/announcements\/winding-down\" target=\"_blank\" rel=\"noopener\">announced<\/a> late Tuesday that it\u2019s ending operations effective immediately, with new signups and ad postings disabled as of May 7.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ahead of the complete website shutdown, LocalMonero will halt all trading activities, with this scheduled for May 14. The platform\u2019s seven-year stint that saw it become the largest peer-to-peer trading platform for Monero officially comes to a close on November 7.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As it begins its six-month wind-down process, LocalMonero says the decision to shut shop comes amid a confluence of internal and external factors. However, the announcement on the platform\u2019s website does not provide specific reasons for the move.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, all users are advised to withdraw their funds before the deadline of November 7. Not doing so could render the funds \u201cabandoned or forfeited.\u201d<\/span><\/p>\n<h2><span style=\"font-weight: 400\">LocalMonero shuts, but future of Monero \u201cbright\u201d!<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Shutting down Monero\u2019s largest P2P platform could see an impact in terms of the buying and selling of XMR, the top privacy-centric cryptocurrency. Despite this, the team at LocalMonero believes the ecosystem\u2019s future is on course for further growth.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201c<em>LocalMonero has been around for most of Monero\u2019s life. Fortunately, the Monero ecosystem has matured a lot over these years<\/em>,\u201d the announcement reads.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Part of the optimism is down to the potential for projects such as decentralised exchanges (DEXs) Haveno and Serai. Atomic swaps and Full-Chain Membership Proofs (FCMP) are the other key developments likely to bolster the Monero protocol.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Despite this outlook, Monero and other privacy coins have in recent months faced increased regulatory scrutiny and exchange delistings.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A number of privacy-focused services, including <a href=\"https:\/\/coinjournal.net\/news\/wasabi-wallet-developer-bars-u-s-users-amidst-regulatory-concerns\/\">Wasabi Wallet<\/a> and Trezor CoinJoin have shuttered, while US authorities recently <a href=\"https:\/\/coinjournal.net\/news\/samourai-wallet-co-founder-released-on-1m-bond-after-pleading-not-guilty\/\">arrested the co-founders of privacy wallet Samourai Wallet<\/a>.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/moneros-largest-p2p-trading-platform-shuts-down\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) LocalMonero is a peer-to-peer\u00a0(P2P) trading platform for privacy-focused coin Monero (XMR). The platform is winding down, with the website set to shutter on November 7. LocalMonero, the largest peer-to-peer (P2P) trading platform for Monero (XMR), is shutting down. The P2P platform [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":30334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30333"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=30333"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/30333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/30334"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=30333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=30333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=30333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}