What is Monero (XMR)? submitted by
Monero is a secure, private, untraceable (crypto-)currency. It is open-source and freely available to all. Don't believe us? Click here.
Monero is a tool that people can actually use. It makes receiving payments hassle-free, since merchants and individuals no longer need to fear the source of funds they are accepting
. With transparent systems like Bitcoin, Ethereum, Verge, or Dash, these people need to hope (or spend substantial resources verifying) the sender did not use the funds illicitly. Furthermore, merchants do not want all their vendors known, and individually do not want everyone to know how much they are spending. If I spend more than I should at Newegg (store), that's my own business.
Monero is different because every transaction
is always private
. There is no way for pools and exchanges to opt out of sending private transactions. Thus, Monero's anonymity set far exceeds any other coin's anonymity set. Over 86,000 transactions in the past month of August, 2017
hid the sender and receiver, and about 99.95% of them also hid the amount (will increase to 100% of all
new transactions in September)! There is no suspicion in using a private transaction, since all transactions are private. A single transaction does not stick out.*
This privacy is afforded with the best technology
. I implore you to take a few minutes to learn about the four main technologies that Monero uses to provide privacy:
- Ring signatures hide where the money comes from. Spent inputs in a transaction are hidden among several others that also appear to be spent. Thus, no one knows which source of money is actually being spent. Think of inputs as individual dollars or euros. View a video about this topic here. Note: this is NOT the same as mixing.
- RingCT hides the amount. Instead of spending a known value of an input, you can cryptographically commit to a certain value without revealing what the value actually is. This is a very complicated topic, so please view this video for more information.
- Kovri is a work-in-progress tool to hide the transaction broadcast. Kovri will make it easy for users to hide their IP address when telling the network that they would like to make a transaction. Kovri will work with other cryptocurrencies and other projects through a common API, and Kovri can be used in a way to hide that you are using Monero at all. Kovri adds additional layers of network security for miners and pools, and it allows for the highest level of censorship resistance possible. A video for this project is available, and you can also check out the Kovri website. In the meantime, there are several guides to using Monero with Tor that work today, including an unofficial Tails build.
- Stealth addresses hide where the money goes to. Instead of sending money to a specific address directly, certain outputs are allocated for addresses, but outside observers do not know which addresses these belong to. Even if ring signatures were compromised for some reason, then people would still not know the sending address in a transaction thanks to stealth addresses. View a video about this topic here.
There are several other things that make Monero great! It has a smooth tail emission, dynamic blocks and fees, and an accessible Proof of Work (mining) algorithm.
*You can optionally choose a very large, unusual ringsize to make the transaction stick out. This is not recommended, and normal users who leave the ringsize at the default setting will not experience any issues. Also, it's possible for a user to manually add identifying information to the tx_extra field, which is something that a user must seriously go out of their way to do. Now you know Monero (XMR) has the best technology. What else makes Monero (XMR) different than other cryptocurrencies?
- Fungible: Every Monero remains equal and identical to any other Monero. It is the property of a crypto asset whose units/value are capable of mutual substitution no matter what historical transactions occurred in the past.
- Value-Growth: Monero has a proven chart record of growth and will continue to grow. Don't believe us? August 2015: $0.45, August 2016: $12, August 2017: $100. Growing really fast right? The difference is that it is growing because it's being used appropriately for it's technology and the demand keeps increasing. Swiss banks and offshores management organizations are starting to move from physical assets to Monero (XMR). Monero is dedicated to continue growing.
- Development-Growth: Monero has the best team. Over 270 contributors have brought Monero to where it is today. The vast majority of people donate their time to help Monero, but a few get paid through the Forum Funding System (FFS). This is how Monero can be a strong project despite not taking a portion of the block rewards or launching with a premine.
P.S. Want a quick-start, simple your-grandma-could-do-it guide? Here's a great one! Am I a bad person to consider using this?
No, Monero is freedom money. You can do whatever you want with it, whenever you want, where ever you want. We make it clear that you should own your wealth 100%. What you do with it, is none of our concern. Where does the word Monero come from?
The word Monero comes from the language Esperanto. Monero means coin oand currency. The plural way of saying Monero in Esperanto and in our cryptocurrency is Moneroj.
How do I store Monero? Monero Core Monero Core GUI
(If you don't know how to use it, click here for instructions and tutorial
) Monero Web-Wallet Offline Wallet Generator
Is there a lightweight wallet for Monero?
Not yet, but you can use the official GUI with a remote node.
Are there any other ways to store Monero (XMR)?
Yes, there are many mobile wallets out there that allow you to store Monero (XMR). We do not
recommend them, because they are not official releases of Monero. If you do decide to use other wallets, please make sure to do your research first before storing any Moneroj in the wallet. Anything used for Monero outside of official releases, will be used at your own risk. Some may be used for scamming purposes. If you still decide to take the risk; do not use them for large amounts. Also keep in mind that there is a high chance that Monero support will not be able to help you if you bump into any problems from applications outside of official releases. Why should you not use non-official wallets? Well would you buy a house and give your only key you have to the buildemanagement and wait for him/her to open the door to the house you supposedly own? No. Same goes with cryptocurrencies. You should always have possession of your private keys, and your Moneroj. Most non-official releases own your private keys, therefore you do not own the Moneroj.
How do I buy Monero (XMR) with fiat? Kraken Bitfinex Monero For Cash Local Monero Other Options
Which exchanges support Monero (XMR)? Poloniex Bithumb Kraken Bitfinex Bittrex Bitsquare ShapeShift Livecoin BTER
How do I setup a offline cold paper wallet? Step-by-step guide for cold storage and offline transaction signing with optimal security Guide For Securely Generating An Offline Cold Paper Wallet USB Monero Cold Wallet Guide
Is there a Chinese translation so I can understand Monero? 是否有中文翻译，以便我能理解Monero？ Monero (XMR) Chinese Translation
Can I buy Monero (XMR) with CNY? 我可以用人民币买Monero吗？ BTER
*Can I buy Monero (XMR) with KRW? Bithumb
Where can I find a good mining pool? Monero Pools
What miner should I use? CPU: XMR-Stak (Windows-Linux) CpuMiner by tpruvot (Windows, Linux) CpuMiner By Wolf xmr-stak (MacOS) cpuminer(MacOS) By correcthorse GPU: XMR-stak (AMD) Ccminer (nVidia) by KlausT, psychocrypt, and fireice-uk Claymore's CryptoNote GPU Miner (AMD)
If you are a Windows user, click here.
Can I use a proxy for mining?
You can use XMR Proxy
. If you want to monitor your rigs you can use Monero Mining Monitor
How can I setup a local wallet while running node with little bandwidth?
You can use GUI, as a remote node as it uses very little bandwidth. Go to settings tab and change: "localhost:18089"
. If you are still having problems, then just use our Monero Web-Wallet
Can I run Monero through Tor or I2P? Guide to use Monero with Tor correctly Monero Safety Through Tor Monero I2P
My vendor only accepts bitcoin but I only have Monero, and I know bitcoin is not private/anonymous. What should I do?
, but you should also educate them about bitcoins lack of privacy. Tell them to visit this post.
How long does it take to sync to the blockchain?
It can take from a few hours (using SSD drive) or even 24 hours, depending on hard drive and connection speed.
How do I generate a QR-code for a Monero address? How to generate a QR code for a Monero address Moneroqrcode.com for a personalized code Guide to check balance
List of scams:
(Always do a background check / research for anything outside of official releases.)
- Freewallet (Mobile Wallet App)
Did you know over 50 high profile artists accept Monero on their online stores?
Check out Project Coral Reef
Are there any other sub-reddits that specialize in certain parts of Monero or just related to Monero?
Yes, there are a few. However, please keep in mind that this sub-reddit (/Monero
) is the official Monero sub-reddit. /xmrtrader
- Trading, and investing related discussions & inquires. /MoneroMining
- Mining related discussions & inquires. /MoneroCommunity
for those who want to help grow the community. /moonero
for shitposts and memes. /MoneroMarket
for buying and selling wares for Monero. /MoneroSupport
for, you guessed it, Monero support. Want to get involved? Click here for a list of sources.
How can I participate in the Monero community?
We welcome everyone to join us and help out. Check the "Community Info" section on our subreddit for our website, forum, stack exchange, github, twitter, and facebook. Anyway, we hope you stick around beyond the hype. Monero has a lot going for it, and we hope you agree! We really need your help, since this project is entirely driven by the community!
Nun vi spertis liberecon.
Note: New Reddit look may not highlight links. See old look here. A copy is hosted on GitHub for better reading experience. Check it out, contains photo of the month! Also on Medium submitted by
dcrd: Significant optimization
in signature hash calculation, bloom filters support was removed
, 2x faster startup thanks to in-memory full block index
, multipeer work advancing
, stronger protection
against majority hashpower attacks. Additionally, code refactoring and cleanup, code and test infrastructure improvements.
In dcrd and dcrwallet developers have been experimenting
with new modular dependency and versioning schemes using vgo. @orthomind is seeking feedback for his work on reproducible builds
Decrediton: 1.2.1 bugfix release
, work on SPV has started
, chart additions are in progress. Further simplification of the staking process is in the pipeline (slack
Politeia: new command line tool
to interact with Politeia API, general development is ongoing. Help with testing will soon be welcome: this issue
sets out a test plan, join #politeia
to follow progress and participate in testing.
dcrdata: work ongoing on improved design
, adding more charts
and improving Insight API support.
Android: design work advancing
Decred's own DNS seeder (dcrseeder
) was released
. It is written in Go and it properly supports service bit filtering, which will allow SPV nodes to find full nodes that support compact filters.
Ticket splitting service by @matheusd entered
beta and demonstrated
an 11-way split on mainnet. Help with testing is much appreciated, please join #ticket_splitting
to participate in splits, but check this doc
to learn about the risks. Reddit discussion here
Trezor support is expected
to land in their next firmware update
Decred is now supported
by Riemann, a toolbox from James Prestwich to construct transactions for many UTXO-based chains from human-readable strings.
Atomic swap with Ethereum on testnet was demonstrated
at Blockspot Conference LATAM.
Two new faces were added
Dev activity stats for May: 238 active PRs, 195 master commits, 32,831 added and 22,280 deleted lines spread across 8 repositories. Contributions came from 4-10 developers per repository. (chart
Hashrate: rapid growth from ~4,000 TH/s at the beginning of the month to ~15,000 at the end with new all time high of 17,949. Interesting dynamic in hashrate distribution
across mining pools: coinmine.pl share went down from 55% to 25% while F2Pool up from 2% to 44%. [Note: as of June 6, the hashrate continues to rise and has already passed 22,000 TH/s]
Staking: 30-day average ticket price is 91.3 DCR (+0.8), stake participation is 46.9% (+0.8%) with 3.68 million DCR locked (+0.15). Min price was 85.56. On May 11 ticket price surged to 96.99, staying elevated for longer than usual after such a pump. Locked DCR peaked at 47.17%. jet_user on reddit suggested
that the DCR for these tickets likely came from a miner with significant hashrate.
Nodes: there are 226 public listening and 405 normal nodes per dcred.eu
. Version distribution: 45% on v1.2.0 (up from 24% last month), 39% on v1.1.2, 15% on v1.1.0 and 1% running outdaded versions.
Obelisk team posted
an update. Current hashrate estimate of DCR1 is 1200 GH/s at 500 W and may still change. The chips came back at 40% the speed of the simulated results, it is still unknown why. Batch 1 units may get delayed 1-2 weeks past June 30. See discussions on decred
and on siacoin
that 7940 DCR1 units were sold in Batches 1-5, while Lynmar13 shared
his projections of DCR1 profitability (reddit
A new Chinese miner for pre-order was noticed by our Telegram group. Woodpecker WB2 specs 1.5 TH/s at 1200 W, costs 15,000 CNY (~2,340 USD) and the initial 150 units are expected to ship on Aug 15. (pow8.com
Another new miner is iBelink DSM6T: 6 TH/s at 2100 W costing $6,300 (ibelink.co
). Shipping starts from June 5. Some concerns and links were posted in these two threads
A new mining pool is available
. It uses PPLNS model and takes 1% fee.
Another infrastructure addition is tokensmart.io
, a newly audited stake pool with 0.8% fee. There are a total of 14 stake pools
- Upbit added DCKRW and DCUSDT pairs. A user reported that DCR deposits and withdrawals are now available.
- CoinEx announced the launch of DCBTC and DCBCH pairs.
- Bleutrade added DCUSDT pair. Note their reply to our tweet. It was the first exchange to list Decred minutes after launch.
- Brazilian exchange OmniTrade added DCBRL fiat pair following a poll. Worth noting that it is one of the first to integrate Trezor sign-in.
- Bittrex added DCUSDT pair. Withdrawal fee was lowered to 0.01 DCR per user's report.
- Cryptopia enabled DCUSDT pair too.
- There are reports that DCR was added to Abucoins and Tor Exchange but we don't know much about them.
an update that allows one to trade cryptocurrencies, including
@i2Rav from i2trading
is now offering two sided OTC market liquidity on DCUSD in #trading
, payments solution for point of sale and e-commerce, integrated
Decred. (missed in April issue)
CoinPayments, a payment processor supporting Decred, developed
an integration with @Shopify
that allows connected merchants to accept cryptocurrencies in exchange for goods.
An update from VotoLegal:
michae2xl: Voto Legal: CEO Thiago Rondon of Appcívico, has already been contacted by 800 politicians and negotiations have started with four pre-candidates for the presidency (slack, source tweet)
Blockfolio rolled out Signal Beta with Decred in the list
. Users who own or watch a coin will automatically receive updates pushed by project teams. Nice to see this Journal made it to the screenshot!
Placeholder Ventures announced
that Decred is their first
public investment. Their Investment Thesis
is a clear and well researched overview of Decred. Among other great points it noted the less obvious benefit of not doing an ICO:
By choosing not to pre-sell coins to speculators, the financial rewards from Decred’s growth most favor those who work for the network.
Alex Evans, a cryptoeconomics researcher who recently joined Placeholder, posted
his 13-page Decred Network Analysis
March–April survey results (pdf
). It analyzes 166 responses and has lots of interesting data. Just an example:
"I own DECRED because I saw a YouTube video with DECRED Jesus and after seeing it I was sold."
May targeted advertising report released
. Reach @timhebel for full version.
More creative promos by @jackliv3r: Contributing
, Stake Now
, The Splitting
, Forbidden Exchange
, Atomic Swaps
Reminder: Stakey has his own Twitter account
where he tweets about his antics and pours scorn on the holders of expired tickets.
"Autonomy" coin sculpture is available
in Sao Paulo, Brazil. Jake Yocom-Piatt presented "Decentralized Central Banking". Note the mini stakey on one of the photos. (article
, photos: 1 2 album
) Wicked Crypto Meetup
in Warsaw, Poland. (video
, photos: 1 2
) Decred Polska Meetup
in Katowice, Poland. First known Decred Cake. (photos: 1 2
) Austin Hispanic Hackers Meetup
in Austin, USA. Consensus 2018
in New York, USA. See videos in the Media section. Select photos: booth
, moon boots
, giant stakey
. Many other photos and mentions were posted
on Twitter. One tweet summarized Decred pretty well:
One project that stands out at #Consensus2018 is @decredproject. Not annoying. Real tech. Humble team. #BUIDL is strong with them. (@PallerJohn) Token Summit
in New York, USA. @cburniske
from Placeholder talked "Governance and Cryptoeconomics" and spoke highly of Decred. (twitter coverage: 1 2
(from 32 min)) Campus Party
in Bahia, Brazil. João Ferreira aka @girino and Gabriel @Rhama were introducing Decred, talking about governance and teaching to perform atomic swaps. (photos
Decred was introduced
to the delegates from Shanghai's Caohejing Hi-Tech Park, organized by @ybfventures
Second Decred meetup in Hangzhou, China. (photos
) Madison Blockchain
in Madison, USA. "Lots of in-depth questions. The Q&A lasted longer than the presentation!". (photo
) Blockspot Conference Latam
in Sao Paulo, Brazil. (photos: 1
- Decred Australia Meetup in Melbourne, Australia on June 12. Organized by YBF Ventures, all backgrounds are welcome.
- Brazil: meetup in Brasilia on June 13, meetup in Belo Horizonte on June 16 and Campus Party Brasilia on June 27.
- O'Reilly Open Source Convention in Portland, USA on July 18-19. Unlike many "regular" events this one is developer focused. @raedah's team will attend.
- If you are interested in Decred event in San Francisco Bay Area please check this thread.
There is a community initiative by @vj to organize information related to events in a repository
. Jump in #event_planning
channel to contribute.
Decred scored B (top 3) in Weiss Ratings
and A- (top 8) in Darpal Rating
Chinese institute is developing
another rating system for blockchains. First round included
). Upon release
Decred ranked 26. For context, Bitcoin ranked 13.
- Team Spotlight: Decred, Pedal Steel Guitar, and Thoughts on Bitcoin From an Exodus Developer (medium.com, missed in April issue)
- Decred: A Cryptocurrency That Combines PoW, PoS (investopedia.com, translated to Spanish and Russian)
- Decred Price Booms on Consensus 2018 Publicity (cryptovest.com)
- Decred Leads By Example With Fair Governance (cryptodaily.co.uk)
- Graph showing your ticket's chance to vote on any given day (twitter)
- Decred: More Steps to Fame, as Price Shoots Above $110 (cryptovest.com)
- Sole Survivor: Decred Unaffected in Latest Market Downturn (cryptovest.com)
- Placeholder VC Puts Money on Decred to Rival Bitcoin (btcmanager.com)
- Decred Is The Most Undervalued Cryptocurrency With A 15% Dividend-Like Yield, Possibly The Next Bitcoin (seekingalpha.com)
- Decred Coin News: What makes Decred coin price to go over $100? (theoofy.com)
- Asian Cryptocurrency Trading Update: Only Decred Showing a Gain (newsbtc.com)
- Why Decred? Let the community tell you! by Noah Pierau (medium.com)
- A post by @DecredKing arguing being first in crypto is not enough (medium.com)
- Why Decred is the new Bitcoin (globalcoinreport.com)
- The Long-Term Bullish Case for Decred by Ben Davidow (medium.com)
- Hardware Companies Are Launching Dedicated ASIC Miners for Decred (btcmanager.com)
- Iterative Capital partner Chris Dannen and journalist Ben Schiller speak with Marco and Jonathan from Decred at Consensus 2018 (soundcloud)
- Decred Review: What is DCR, the Decred Community & Possible Challenges by BitBoy Crypto (youtube)
- Decred Founder: Bitcoin Paved Way, Phase 2 Will Shock You! (Marco Peereboom) by Pure Blockchain Wealth (youtube)
- Decred & Blocknet: Revolutionary governance for every community feat. JZ at Consensus 2018 (youtube)
- Decred coin - Will it be better than Bitcoin? by Bitassist (youtube)
Community stats: Twitter 39,118 (+742), Reddit 8,167 (+277), Slack 5,658 (+160). Difference is between May 5 and May 31.
Reddit highlights: transparent up/down voting
on Politeia, combining
LN and atomic swaps, minimum viable superorganism
, the controversial debate
on Decred contractor model (people wondered
about true motives behind the thread), tx size and fees discussion
, hard moderation case
of ASICs on price, another "Why Decred?" thread
with another excellent pitch by solar, fee analysis
showing how ticket price algorithm change was controversial with ~100x cut in miner profits, impact
of ticket splitting on ticket price, recommendations
on promoting Decred, security against double spends
and custom voting policies.
@R3VoLuT1OneR posted a preview of a proposal
from his company for Decred to offer scholarships for students. dcrtrader
gained a couple of new moderators, weekly automatic threads were reconfigured to monthly and empty threads were removed. Currently most trading talk happens on #trading and some leaks to decred
. A separate trading sub offers some advantages: unlimited trading talk, broad range of allowed topics, free speech and transparent moderation, in addition to standard reddit threaded discussion, permanent history and search.
Forum: potential social attacks
Slack: the #governance
channel created last month has seen many intelligent conversations on topics including: finite attention of decision makers, why stakeholders can
make good decisions (opposed to a common narrative than only developers are capable of making good decisions), proposal funding and contractor pre-qualification, Cardano and Dash treasuries, quadratic voting, equality of outcome vs equality of opportunity, and much more.
One particularly important issue being discussed is the growing number of posts arguing that on-chain governance and coin voting is bad. Just a few examples from Twitter: Decred is solving an imagined problem
by @jm_buirski), we convince
ourselves that we need governance and ticket price algo vote was not controversial, on-chain governance hurts
node operators and it is too early
for it, it robs
node operators of their role, crypto risks being captured
by the wealthy, it is a huge threat
to the whole public blockchain space, coin holders should not
own the blockchain.
Some responses were posted here
on Twitter, as well as this article
by Noah Pierau.
The month of May has seen Decred earn some much deserved attention in the markets. DCR started the month around 0.009 BTC and finished around 0.0125 with interim high of 0.0165 on Bittrex. In USD terms it started around $81 and finished around $92, temporarily rising to $118. During a period in which most altcoins suffered, Decred has performed well; rising from rank #45 to #30 on Coinmarketcap.
The addition of a much awaited KRW pair on Upbit saw the price briefly double on some exchanges. This pair opens up direct DCR to fiat trading in one of the largest cryptocurrency markets in the world.
An update from @i2Rav:
We have begun trading DCR in large volume daily. The interest around DCR has really started to grow in terms of OTC quote requests. More and more customers are asking about trading it.
Like in previous month, Decred scores high by "% down from ATH" indicator being #2 on onchainfx
as of June 6.
David Vorick (@taek) published
lots of insights into the world of ASIC manufacturing (reddit
). Bitmain replied
an ASIC for Equihash (archived
), an algorithm thought
to be somewhat ASIC-resistant 2 years ago. Three pure PoW coins
this month, one attempting to be ASIC resistant. This shows the importance of Decred's PoS layer that exerts control over miners and allows Decred to welcome ASIC miners for more PoW security without sacrificing sovereignty to them.
Upbit was raided
over suspected fraud and put under investigation. Following news reported
no illicit activity was found and suggested
and raid was premature and damaged trust in local exchanges.
Circle, the new owner of Poloniex, announced
a USD-backed stablecoin and Bitmain partnership. The plan is to make USDC available as a primary market on Poloniex. More details in the FAQ
lower trading fees.
to offer USD trading pairs.
@sumiflow made good progress on correcting Decred market cap on several sites:
speaking of market cap, I got it corrected on coingecko, cryptocompare, and worldcoinindex onchainfx, livecoinwatch, and cryptoindex.co said they would update it about a month ago but haven't yet I messaged coinlib.io today but haven't got a response yet coinmarketcap refused to correct it until they can verify certain funds have moved from dev wallets which is most likely forever unknowable (slack)
About This Issue
Some source links point to Slack messages. Although Slack hides history older than ~5 days, you can read individual messages if you paste the message link into chat with yourself. Digging the full conversation is hard but possible. The history of all channels bridged to Matrix is saved in Matrix. Therefore it is possible to dig history in Matrix if you know the timestamp of the first message. Slack links encode the timestamp: https://decred.slack.com/archives/C5H9Z63AA/p1525528370000062 => 1525528370 => 2018-05-05 13:52:50.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Your feedback is precious. You can post on GitHub
, comment on Reddit or message us in #writers_room
Credits (Slack names, alphabetical order): bee, Richard-Red, snr01 and solar.
Ive seen people have been asking for it and i decided id post up a guide for buying online seeing as ive some knowledge in this area with many successful transactions. This guide won’t be going too deep but will give you the perfect protection and security for getting started to buying online. What is needed
- Tor Browser
- Common Sense
A VPN is a virtual private network and in layman terms it masks your identity so snooping eyes cannot see what you are doing over a network. This is very useful when searching on the clearnet (websites without .onion directory). It also helps in hiding tor traffic from your internet provider. Even though everything on tor is encrypted your internet provider can still see when you are using the tor network, VPN blocks them from seeing this. A VPN is essential. For finding a good VPN go to this site
/this site Tor Browser Bundle
Im sure most of you know what this is already but for those who don’t its the browser needed to access hidden websites on the tor network, to download it go to tor Bitcoin
Bitcoin is the currency you will be using to purchase online. You can obtain bitcoin in many ways but for it to be truly untraceable purchasing using a bank account linked to your name isn’t a great idea. This is why many people like to use the site localbitcoins to meet up and purchase bitcoin using cash. If you are in dublin there are 2 bitcoin atms in the city centre which are very useful for getting bitcoins. To store your Bitcoins you will need a wallet and this is where you can store your bitcoins you purchased. For simplicity you can set up an online wallet at blockchain
but for a more secure wallet you should download one. Its not a necessity but i would recommend Electrum PGP
PGP stands for “Pretty Good Privacy,” and it’s most often used for sending encrypted messages between two people. This is a necessity when buying online as you will use it for sending information such as your shipping address. I won’t go into the full details on how to use PGP but there are some great tutorials on PGP on youtube. Buying process
Im going to run through the steps of the buying process in order.
(1)Make sure you VPN is running, open up tor browser and navigate to your market of preference. You can find a list of markets and their addresses over at /darknetmarkets
(2)Search for your desired product. When looking for the right product one thing you should keep in mind is Escrow. Escrow is essentially the paypal of the darknet. It is a middle man and holds the bitcoins you sent to the buyer safe until you’ve marked the product as received, they are then released to the seller. This is good as if the seller scams you and you do not receive anything you can open a dispute with the market and get your coins back. Unfortunatley because of all the market exit scams a lot of buyers are asking for full escrow so their money isn’t lost and this is where common sense comes in. If a buyer asks for full escrow and has negative feedback or a bad rep, stay clear. Im gonna recommend sticking with buyers who offer escrow and order from countries within the EU. Ordering from countries outside of the EU would carries the most risk of getting stopped by customs.
(3)Once you’ve found the product you want your ready to move onto the next step which is getting bitcoins. Go tolocalbitcoins
and buy some bitcoins near you. As I recommended above i would steer towards cash transactions for bitcoins rather than transactions using paypal or your bank account.
(4)Once you have your bitcoins its time to purchase the product. Send the bitcoins from your bitcoin wallet to the wallet on the market you are using. You can find your bitcoin wallet address for that market by clicking on your balance. When sending the bitcoins to the market they don’t not show up straight away, it usually takes between 10mins and 1 hour.
(5)When they have arrived to your wallet on the market navigate to the product you are buying and purchase.
(6)you will be met with the confirmation screen where you will input any comments and shipping details. This is where you will use PGP to encrypt the message, use the PGP tutorial i have linked above. NEVER send personal information(name/address) in plain text, normal chitchat between you and the buyer is fine in plain text though. I recommend using address doctor
to see if your address is formatted correctly for international purchases.
(7)Now sit back and wait for the product you have purchased to arrive. some recommendations i have for first timers:
If anyone has any questions feel free to ask I know some of the steps are a bit tricky and i would be happy to help
- Buy domestically
- Dont tell anyone you are buying online
- Make sure your VPN is on
- Make sure the seller offers escrow(if unsure ask the seller)
- ALWAYS Use pgp for address
- Dont panic if bitcoins dont appear in your wallet straight away
- DO NOT use a parcel motel
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