Monero Market is an online marketplace that only uses Monero (XMR)
The website includes a full escrow system to protect buyers and sellers, a built in, optional to use Monero wallet, and the ability for anyone to buy and sell goods.
All items will be priced in USD. The XMR amount will fluctuate based on current exchange rates
The built in wallet can be deposited to or withdrawn from. It is advised for users to keep unused funds in their own custody.
Users can pay for an Order with their account balance or from an external wallet. If paying from an external wallet, a QR code will be generated and the user asked to send the full amount. Unpaid orders will be cleared out by the system.
It will take the system 1 confirmation to show an incoming transaction is detected on the transactions page. It will take 20-30 minutes for Monero Market to fully display the transaction due to needing 10 confimations before transactions are considered finalized.
After placing an order if everything has gone smoothly, the buyer can click "Close Order" and confirm this action on the Orders page which will automatically move the Monero to the seller's account wallet where it can be immediately withdrawn. Sellers will be emailed when this occurs.
If the order fails to arrive or it arrives but there is a problem, a buyer can click the "Create Dispute" button on the orders page to start the dispute process.
Orders have a 30 day time limit before auto-finalization. Digital orders have a 10 day limit. Buyers should close the order or create a dispute before the time limit expires.
After the time limit expires, vendors will be automatically paid
Monero Market charges vendors a 5 percent fee for all sales on the platform, excluding "Precious Metals" and "Paper Money" sales
Monero Market charges sales in the "Precious Metals" and "Paper Money" category a 1 percent fee
The escrow system can be used if buyers are unhappy with their purchase or feel they were mislead. After submitting a dispute form which consists of 5 files and a description to explain the issue, the seller will have 5 days to respond before the site administrator can review the case and make a judgement. The seller will be emailed if there is a dispute created for one of their orders. When responding to the dispute, sellers will be able to see the files and description uploaded by the buyer.
If a vendor fails to respond to a dispute claim, the buyer will automatically win and be refunded the full amount
We have thought a lot about the websites security and have made sure there are many security precautions in place to make sure XMR funds are safe on Monero Market. It is a big responsiblity to act as a mediator and we take this very seriously.
Email is used to contact users about the following:
Monero Market supports PGP keys. Your PGP key can be added and updated through your profile page. Other users can navigate to your profile page to find your PGP public key.
If a user prefers to use PGP they won't need to fill out their real address data when placing an order. The will need to get the PGP key of the seller, encrypt their address, then message the seller on Monero Market with their encrypted message after placing the order
For users who don't want to opt for this level of privacy, plain text addresses are also supported.
Monero Market takes user privacy seriously. We do not sell your data or try to collect data from users. We use captchas to reduce spam content and moderation to make sure listings are appropriate and legal. Email is used to update users about any messages, orders, or disputes they have. No sensitive data will be included in the emails messages (e.g. It will not include message sender, message content, xmr amounts, or addresses).
Users will need to log onto Monero Market for this information
Addresses can be stored in plain text (default) or encrypted with PGP (more advanced). Address will be viewable by the vendor only. Vendors will lose the ability to see plaintext addresses after the order is closed or disputed. After the order is complete, the platform automatically deletes it from the server