Now Dream Supports Monero here's an XMR TL;DR

Now Dream finally supports Monero, and having a quick browse today near enough every vendor (UK at least) has started accepting it, I thought it's worth doing a quick wrap up on what how and why to use XMR.

What is XMR?

XMR is a privacy focused cryptocurrency that uses advanced cryptography to hide where money is being sent, where it's sent from and how much was sent. It does this using several technologies such as ring signatures, ring CT's and stealth address's. You can read more about this on the website and the subreddit.

In short, XMR is:

How do I get set up with a wallet etc?

XMR works pretty much the same as every other cryptocurrency. You have a wallet address where people can send you XMR and vendors / markets have XMR address's where you can send them XMR.

To use XMR you need a wallet. The official Monero wallet can be downloaded here and it's supported on Windows, Mac, Linux and multiple other OS's including TAILS. I don't think you need to run your Monero wallet on TAILS but if you want to you can and here's the guide.

Once you've downloaded and set up your wallet you'll get a wallet address. Here's a great guide to setting up the XMR wallet. You'll use this to receive XMR in the next step.

How to do I buy XMR?

There are two main ways. You can either directly buy it on localmonero or moneroforcash or you can buy a 'precursor coin' that's fast, cheap and easily available (like LTC or ETH on Coinbase) and use a site like Evercoin or (AM Shapeshift) to exchange the precursor coin for XMR. These aren't complicted exchanges, you don't need to sign up or give them any info or anything you just send them LTC/ETH and they send you XMR - end of story. The downside of this is that it involves a few transactions and although the fees are low you might incur more in fees just than buying direct. The upside is that it's super easy and fast if you already have a Coinbase account or something.

Over the last few weeks a lot more sellers have popped up on localmonero and the competition has pushed the prices down much closer to market rate so I'd say this is a very viable option now, location dependent, for those of you that love LBC etc. I just checked the UK and US listings and there are some good deals. If you live in Uzbekistan you might be out of luck.

Either way, the goal here is to get some XMR into your wallet. You can get your XMR address from the 'receive' tab of the GUI.

Here's a detailed guide I wrote a while ago

How do I get my XMR to the market

Here's the beauty of it. You just send it. No second wallet, no third wallet, no multiple OS's, no shady tumblers. You just send it.

The Monero development team are so confident in their security there is actually a cash reward if you can break the technology. Currently this reward is 1275 XMR (£287,000 / $405,000) - no one has claimed it yet.

You do this from the 'Send' tab of the GUI.

Just go to the wallet section of whatever market you're using and send the XMR to the address listed. Some markets might require you to include a payment ID with the TX so they can identify your transaction, there's a box for this in the GUI.

To activate your XMR wallet on Dream just add '/xmrWalletService' to the end of the URL. You can now filter listings to just show XMR listings as well.

XMR Quick Tips

For further reading and any unanswered question's here's my XMR FAQ

And that's it folks. I think my Monero shilling days have come to an end - there's no where else to go from here, every single market accepts it and it's effectively a pre-requistie for new markets launching. PrinterPam will be delighted I'm sure.

Until next time,

TheKingofKingsMill


Comments


[5 Points] LSDog:


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[3 Points] SynisterSylar:

Can you go precursor coin > exchange to monero > monero wallet on dream? Or like with Bitcoin, will that get you flagged as well?


[3 Points] DankyDankest:

King buddy can you answer an unrelated question please. So I was on dnmuk an hour or so ago but it now seems like it's gone. Had it been shut down by any chance?


[2 Points] bigbigsmalldude:

I know it's awesome. My favorite currency.


[2 Points] SuperMarioSista:

So I sent about $75 worth of monero to dream and it showed up as pending. Then it completely dissapeared and I have no way to contact these guys. It's bad enough I lost money on ltc depreciating and bad enough i lost a bit transitioning it to monero but, this is just pissing me off. I already got a damn headache I don't need this crap.


[1 Points] Al1ce1nunderland:

so where's the tl;dr?


[1 Points] moshah008:

Thanks for the guide!


[1 Points] SuperMarioSista:

So how long until tails replaces electrum with monero?


[1 Points] the73rdStallion:

I'm getting an error saying that my payment ID is to short and needs to be a minimum of 64 characters. The ID dream is giving me is only 16 characters.

I'm thinking that if i don't include the ID, the worst thing that could happen would be the payment bouncing back.

Can anyone offer any insight?


[1 Points] GroundbreakingAuthor:

here is a question i am trying to send some XMR to dream but it only gives me a BTC wallet address. Where the XMR wallet address?


[-1 Points] basjin:

https://www.reddit.com/r/DNMUK/comments/7p8b2o/dream_accept_monero/dsfad6l/

Dream don't take XMR as they are controlled by the DEA and want to know where the money is going (jokes, kind of).

Try Libertas, Zion or DD's with most vendors. Or use xmr.to to deposit to Dream. This will incur a huge fee though because you'll be using the BTC network so you'll loose a bit of money.

why you still post here? crawl back into the hole you have come from.

https://www.reddit.com/r/DNMUK/comments/7p89sb/ms_update_and_anoncoinz_saga/dsfb59i/

https://www.reddit.com/r/DNMUK/comments/7nmrji/can_anyone_vouch_for_stealthpharma_on_wickr/ds2xip8/

https://www.reddit.com/r/DNMUK/comments/7m5evw/sent_money_to_dream_on_thursday_night_still_no/drrsw4t/


[0 Points] SuperMarioSista:

Great now can they implement a way for me not to need a wallet so i don't always have like $2 sitting in my account?