Market or fixed price
To price your advertisement you can enter a margin you want above the {assetName} market price. To do that, enter a percentage in the margin field after choosing the “Market price” option. You might also want to specify a fixed price that will not change until you manually change it. For this you need to choose the “Fixed price” option and enter the price value.

Min. / Max. transaction limit
The minimum transaction limit sets the smallest amount someone can buy. If you set it to five, and you have your currency set to EUR it means that the smallest trade amount someone can open a trade with you for will be for 5 EUR. The maximum transaction limit sets what the biggest trade amount that you want to accept is.

Terms of Trade
This is the text the buyer sees before he opens up a trade with you. It's a good idea to write instructions for the buyer on how you want the trade to proceed and if you have any specific instructions. If you require, for example, the buyer to submit a receipt as proof of payment before you release the {assetName} or if you need the buyer to provide an ID, this is the place to mention it. You can take a look at other traders' advertisements for the payment method you want to use to get an idea of what good terms of trade contain.

Extra options

Limit amounts to
You can restrict the advertisement to only being able to open trades for specific amounts. If you enter 20,30,60 into the box a potential trade partner could only open a trade for 20, 30 or 60 EUR.

Payment details
Enter here specific information relating to how the buyer should pay, this can be your bank account number or e-mail address (for e.g. PayPal).

Required minimum feedback score
The feedback minimum allows you to set a minimum required feedback score to have in order to open a trade using your advertisement.

First time limit ({assetSymbol})
This is a specific maximum transaction limit for new users. If a buyer with no previous trading history with you wants to open a trade with you, this is the largest amount they can open a trade for.

Payment window
The amount time the buyer has to complete the payment before the seller is able to cancel the trade.

Track maximum amount liquidity
Enabling tracking liquidity lowers the maximum limit of the advertisement by the amount that is currently held up in open trades.

Quick tips on identifying scammers

Fraudulent buyers are often in a hurry. The more a customer asks you to hurry/rush the more suspicious you should be, real customers always have patience.

Fraudulent buyers often suggest doing all or part of the transaction outside escrow and then do not complete their part of the transaction.

Be careful about photoshopped payment evidence, don't release {assetName} until you have confirmed that you have received the money. You are not obliged to release a trade until you can verify that you have received the buyer's payment.

Don't open any links that your trading partner is sending to you. If you must, use different browser than the one you are using.

Don't visit websites other than LocalMonero with the browser that you're using to trade. Use a different browser for other websites.

Bookmark LocalMonero in your browser and always use the bookmark when visiting the website. This helps you to avoid accidentally visiting phishing websites, they exist and can be very convincing.

Issue 61: May 15 - May 22, 2020