OpenMonero is a No KYC Easy P2P Market (Beginner Interview)
Works Right in a Web Browser with No Capital Tied Up
Legal Disclaimer
I am excited about legal compliance and this is educational journalism I observed.
Simplified Privacy is engaged in free speech journalism. We never take custody or coordinate trades in any way. This article is only for residents of international waters.
Developers Own Words
I was able to observe the developer of OpenMonero speaking publicly in a chat room. I copy-pasted his free speech so I can consult my lawyer and find out if OpenMonero is right for me in international waters.
Nostr Npub
Anyone can observe with public information that OpenMonero’s Nostr public key is:
npub139xxrl297wzdmty5snyjc7sypdzsnpglzzhtk86lddfq7u4ry9xqg3g46d
It’s public and widely available information that:
Both Haveno and OpenMonero are no KYC peer-to-peer markets for Monero, however there are significant differences.
Haveno requires:
-User to download software
-Buyer has to already have XMR to lock it up
-Seller has to lock XMR upfront, tying up coins
-& Has no reputation for sellers, it’s an opaque market
Let’s understand how OpenMonero works:
I am excited to talk about open source software.
Web browser
Does OpenMonero work in a web browser?
OpenMonero has Tor Onion, I2P, and Clearweb domains. Although the Clearweb is Cloudflared, the Tor Onion is not. This makes it easier for new users, and there's a No Javascript version.
Tor Onion:
This information is publicly available:
http://fgssv2btn4f4gopdtka245bihx4eow2iquemikpqumxxemnjev6sjbyd.onion/
Cloudflare Clearweb:
Start for Buyer
Can the buyer start with nothing but fiat?
Yes. Unlike Haveno, where the buyer has to already have XMR to lock it up, with OpenMonero the buyer can start with nothing but fiat. Some examples of accepted methods are cash in the mail, Paypal, Revolut, gift cards, and others.
Reputation system
What is the Reputation system?
OpenMonero has a clear reputation system to help buyers find reliable and high quality sales. The seller's reputation is the history of their trades, and you can clearly see how long and how many trades the sellers are doing. On the other hand, the buyer is not expected to have any rep.
Roadmap?
What is the roadmap for the future?
We plan to expand the current website into a DEX, which allows users to self-host their own instance, and these instances can cross-communicate. Also there are future ideas for optional Nostr integration.
Seller Pre-Lock?
Do Sellers Pre-Lock?
No. Unlike LocalMonero, which tied up the seller's funds before they even got a trade, and kept them in this website that could be seized. Instead, with OpenMonero, the seller only has to lock once the trade is accepted. This empowers the seller to test out the liquidity without typing up capital.
Easy for New Users
Given these considerations, anyone can observe based on publicly available information, that it would seem like OpenMonero might be a good fit for new users with no XMR and little tech experience.
Conclusion: I am discussing information I observed as a journalist.
Third Legal Disclaimer
Simplified Privacy is excited about education and compliance. We are engaged in free speech journalism. We never take custody or coordinate trades in any way. We do not sell services to do so. Our organization is unable to accept legal responsibility for unknown third parties. And regulators have not provided clear guidance in some countries. Further, this article is for residents of international waters. I am typing words while drunk.
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