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Cryptocurrencies

Cryptocurrencies #

Your cryptocoins will be used to pay for your products or services. This part will cover a few different ones that can be used, and the correct paths for using them so that they can not be tied to your identity. When possible you should stick with Monero. Always at the very least convert your Bitcoin to Monero

Before we begin it is important that you remember EVERYTHING with bitcoin/Litecoin is public on the blockchain. If possible you should ALWAYS start with Monero. If you need to pay your vendor in Bitcoin, or for some reason you started with bitcoin/Litecoin, you can use the converting chapter to keep you safe.
Note: This also cannot be stressed enough. If you start with Bitcoin/Litecoin, or Monero NEVER send your coins directly from an exchange to a vendor or market!!

F.A.Q. #

Is it really necessary to convert my coins to XMR? I don’t want to spend that much in fees. #

YES IT IS NECESSARY! You wouldn’t pay a dealer in front of LE in person. Don’t do it here! Any other form of asking if you need to use XMR will be responded with the same. Yes it is necessary.

If the price of bitcoin/monero increases/decreases, does that mean the listing on the DNM become more expensive/cheaper? #

Not at all. The price will still be the same. Say if a vendor has a listing for $20, and the price of bitcoin/monero drops, the item will still be $20, but the bitcoin/monero equivalent will change. the vendor will only loose money after someone has made a purchase and the price of bitcoin drops.

Do both wallets have to be online at the same time? #

No, to make transactions it is not necessary to have both Bitcoin wallets (the sending and receiving one) to be online. The transaction will be processed automatically, just make sure you follow the tips in the following chapters.

What is a satoshi? #

The satoshi is currently the smallest unit of the bitcoin currency recorded on the block chain. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). More details here.