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XMRfamily avatar XMRfamily commented on August 16, 2024

Your project doesn't really make sense to me how atomic swaps help fiat -xmr

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Kreyren avatar Kreyren commented on August 16, 2024

Your project doesn't really make sense to me how atomic swaps help fiat -xmr -- @XMRfamily (#1010 (comment))

For example in my personal experience using monero in the central EU the main problem is that it's very difficult to get monero and use it.. Basically the options rn are to buy a BTC at the ATM for 5~15% fee and then exchange from BTC to XMR for another fee which can easily eat 30% of the XMR in FIAT value.

So having the swaps (including for FIAT) integrated in the GUI wallet by spec would manage the risk of overpaying for the fee and made this way easier for general adoption + more XMR ATMs would manage the BTC's scam fees as it doesn't seem to be practically possible to just go to the FIAT ATM with a monero wallet and withdraw money from it.

If we could implement the XMR<->FIAT in a way that takes few seconds that would also enable the e.g. phone's NFC used for in-person checkouts to enable getting rid of the FIAT bank for practical use.

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