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Are there scammers on LocalMonero?

by /u/Blackberrynam · 1 votes · 2 weeks ago

Found a guy who looked cool, then looked at the feedback and he has 100% feedback, and most comments are normal, but some of them are "+++" or "A+++++++" which I have heard to be sus, reminds me of Paxful which is full of scammers. So, are there scammers on LocalMonero?

Comments (8)
/u/ElonMuskWhm · 3 votes · 2 weeks ago · Link

there are, always use escrow and you will be fine

/u/zuzuzuzu · 2 votes · 2 weeks ago · Link

Of course there are scammers on LocalMonero. I am one of them. How do you prevent me from scamming you?

Firstly, look for people with a high number of feedback and completed trades. But be cautious. People can and do get hacked.

Secondly, only deal in increments that you can afford to lose. Suppose that you want to buy $10k in Monero via Bank Transfer. Instead of sending $10k to the seller in one go, break it up into pieces that you can afford to lose. So first, you do a trade with $1000 and then another $1000 and so on until you receive the $10k.

Although I have many completed trades for smaller amounts, if some idiot sends me an insane amount in go, I am just gonna scam him and create a new account to start again.

So moral of the story? People with a lot of completed trades and high feedback, usually won't scam you for smaller amounts, but if you send an insane amount in one go, you will probably get scammed. So break your trades up into smaller peices

/u/whitecollar01 · 1 votes · 2 weeks ago · Link

What is an insane amount of money to you? We talking 10k or 5k or 3k? or?

/u/zuzuzuzu · 1 votes · 2 weeks ago · Link

You can gauge this by looking at the seller's trade limits. You will see some sellers, they might be selling monero for Bank transfer, but they can only trade up to a maximum of $1000. This means there is about $1000 in their site wallet. For a seller like this, I'd do increments of $100. But some sellers might have $50k limits, in which case you can do higher increments because they have more money

/u/Long_Stroke781mb · 1 votes · 2 weeks ago · Link

lmaoo thanks for your honesty. If you don't mind me asking how much do you make exchanging monies, like the individual transaction aside from high dollar scams.

/u/GOUPIL · 1 votes · 2 weeks ago · Link

if they don't have a 100% rate of succes, nobody want to send money to them. So i suppose they can be on localmonero but not for long time period.

Postman and suzan are not for example.

/u/cthulhuskittens · 1 votes · 2 weeks ago · Link

yes but most of the scammers don't last long. never use anything that can be charged back, like venmo or paypal. only work with users who have 99% or 100% rating. if you get tempted to "feel sorry for" a new user who doesn't have any trades yet, only trade what you don't mind losing - you will probably end up regretting it (the only time i have ever gotten scammed on there was with a new account who first did a successful trade then tried to scam me - fortunately their staff are able to spot a scammer, but it's better just not to get screwed in the first place)

/u/Long_Stroke781mb · 1 votes · 2 weeks ago · Link

The only time i had any issue is when i tried buying xmr with cash via venmo or zelle. Those sellers took extremely long to respond and something just didn't feel right. Whenever i do a trade via BTC OR ETH etc it's always a breeze. Literally within 30min i get my funds.