A practical, step-by-step guide to making your first peer-to-peer Monero trade on Haveno. Written by a trader with 683 completed trades and 100% positive feedback across LocalMonero, AgoraDesk, RetoSwap, DawnSwap, and XMRBazaar.
Haveno is a decentralized peer-to-peer exchange built specifically for Monero (XMR). It’s the spiritual successor to LocalMonero and the Monero-native fork of Bisq. Here’s what makes it different from centralized exchanges:
If you used LocalMonero before it shut down in May 2024, Haveno will feel familiar. The main difference is that it’s a desktop application (not a website) and it’s truly decentralized — there’s no company running it that could shut it down.
Haveno is the software. To actually trade, you connect to a network — a group of users running compatible Haveno instances. Think of it like email clients (Thunderbird, Outlook) vs email providers (Gmail, ProtonMail). The software is the same; the network is where the people are.
In 2026, there are two production-ready networks:
| Feature | RetoSwap | DawnSwap |
|---|---|---|
| Monthly volume | ~$2M (largest) | Growing (newer) |
| Security deposit | 15% | 5% |
| Maker fee | 0.5% | ~1% |
| Taker fee | 0.1% | ~1% |
| Total fees | 0.6% | ~2% |
| Arbitrator | RoundTheRoses (trusted, established) | Dawn Collective (24/7, anonymous) |
| Dispute resolution time | 24–48 hours | Minutes to hours |
| No-deposit buying | Up to 1.5 XMR for first trade | Available (lower limit) |
| Best for | High-volume traders, large trades | Beginners, smaller trades, fast disputes |
There are other networks in various stages of development (HardenedSteel is stalled, others are test-only). Stick to RetoSwap or DawnSwap for real trades in 2026.
brew tap moneroecosystem/haveno && brew install --cask havenoAfter installation, Haveno will start syncing the Monero blockchain and connecting to the Tor network. This takes 2–5 minutes on first launch. The app is fully functional once connected — you can browse offers immediately while the blockchain syncs in the background.
Here’s the chicken-and-egg problem everyone hits: you need some Monero to trade on Haveno (for security deposits), but you’re using Haveno because you want to buy Monero.
Four practical solutions, in order of recommendation:
RetoSwap allows first-time buyers to take offers without a security deposit for trades up to 1.5 XMR. This is the easiest path — just browse the Buy tab, find an offer, and take it. The seller’s XMR is still protected by escrow; only your deposit is waived.
If you already hold BTC, ETH, LTC, or other crypto, swap it for XMR via Trocador (aggregator of 40+ swap services) or Exolix. Send the XMR to your Haveno deposit address. Takes 10–30 minutes.
Contact a P2P trader via Telegram, Signal, or Session and buy a small amount directly. Some traders (like myself) will sell small amounts without escrow to help new users bootstrap their Haveno wallet.
Run P2Pool mini for a few hours. Even a laptop CPU will earn enough for a deposit in a day or two. This is the most private option — no third party involved at all.
Before trading, create a payment account in Haveno. Go to Account → Payment Accounts → Add New.
For each payment method, you’ll enter different details:
| Payment Method | What You Enter | Privacy Level | Speed |
|---|---|---|---|
| Cash by Mail | Account name, postal address (or PO Box) | High (no bank involved) | 2–7 days |
| Face-to-Face | Account name, city/area | Highest (cash in hand) | Same day |
| SEPA | IBAN, BIC, account holder name | Low (bank records) | 1–2 business days |
| Revolut | Username or phone number | Medium | Instant |
| Wise | Email address | Medium | Minutes to hours |
New account aging: Some payment methods have a “signing” period where new accounts are limited to smaller trade sizes. This prevents payment fraud. After your first successful trade, limits increase. This is normal and expected.
Let’s walk through a complete trade. I’ll use the most common scenario: buying XMR with EUR via Cash by Mail.
Click the Buy tab. Filter by your currency (EUR) and payment method (Pay by Mail or F2F). You’ll see a list of offers with price, amount range, and the seller’s trade history. Look for offers with a reasonable premium (5–15% over market is normal for CBM).
Click on an offer that fits. Review the terms: price, amount, payment window, seller’s terms. If everything looks good, click Take Offer. Your security deposit will be deducted from your Haveno balance and locked in multisig. This typically takes 1–2 minutes while the multisig wallet is created.
Both deposits must be confirmed on the Monero blockchain (10 confirmations, ~20 minutes). During this time, neither party can back out. The trade is committed.
For Cash by Mail: package the cash securely (see our Cash by Mail safety guide), send via registered/tracked mail, and photograph everything. Enter the tracking number in the trade chat. Click Payment Sent once mailed.
For Face-to-Face: arrange a meeting via the trade chat. Meet in a public place. Hand over the cash. Click Payment Sent.
Once the seller receives your payment, they click Payment Received. This triggers the multisig payout: your XMR is released to your wallet, and both security deposits are returned. The trade is complete.
Your purchased Monero is now in your Haveno wallet. You can withdraw it to an external wallet, or leave it for your next trade. Security deposits are also returned. The whole process — from taking the offer to receiving XMR — typically takes 2–7 days for Cash by Mail or minutes for Face-to-Face.
Haveno’s escrow is one of the strongest trust mechanisms in P2P trading. Here’s exactly how it works:
When a trade begins, a multisig wallet is created with three keys: one for the buyer, one for the seller, and one for the arbitrator. Any two of three keys can release the funds. This means:
This is fundamentally different from LocalMonero’s model, where LocalMonero the company held the escrow. If LocalMonero decided to exit-scam (or was forced to shut down), they could take everyone’s escrow. With Haveno, even if the software developers disappear, your funds are safe in multisig — only two of the three keyholders can release them.
Both buyer and seller lock a security deposit. This is your “skin in the game” — it ensures both parties have something to lose if they try to cheat.
| Network | Deposit | For a 1 XMR trade | Returned when? |
|---|---|---|---|
| RetoSwap | 15% | 0.15 XMR locked per party | After trade completes or dispute resolves |
| DawnSwap | 5% | 0.05 XMR locked per party | After trade completes or dispute resolves |
Deposits are always returned to the honest party after the trade. They’re not a fee — they’re a guarantee. Think of it like the security deposit on a rental apartment: you get it back if you don’t cause damage.
In 683 trades, I’ve handled disputes from both sides. Here’s the practical reality:
Don’t wait. Open the dispute as soon as you know something is wrong. There’s no penalty for opening a dispute — the arbitrator just reviews the evidence and decides.
These are things I’ve learned from years of P2P trading that aren’t in any official documentation:
Haveno is peer-to-peer. Your offers are only visible while your app is running. When you close Haveno, your offers disappear from the orderbook. When you open it, they reappear. If you’re serious about trading, keep it running during active hours. Your funds are safe regardless — they’re in your wallet whether the app is open or not.
I run RetoSwap and DawnSwap at the same time. Different people browse different networks. More visibility = more trades. The only cost is wallet capital spread across two instances. Use smaller offers on each to manage exposure.
Always set your price as a percentage above market (e.g., +10%), not a fixed EUR amount. This way your offer automatically adjusts as XMR’s market price moves. You never need to manually update your offers.
Post multiple small offers (0.05–0.25 XMR each) rather than one large one. Benefits: if someone takes one offer, your others stay active (if you have enough balance). Smaller locked capital per trade. Lower griefing exposure.
Always use the built-in trade chat for trade-related communication. This creates an evidence trail if a dispute arises. For pre-trade negotiation (before taking an offer), external messaging like Telegram or Signal is fine.
Each trade has a payment window (usually 5–7 days for Cash by Mail). If the buyer doesn’t mark payment as sent within the window, the seller can open a dispute and get the trade cancelled. Keep an eye on the timer and don’t let it expire silently.
When a trade locks your security deposit, the remaining balance may be too low to cover your other offers. Those offers automatically deactivate (they reactivate once the trade resolves). Keep your balance at 2–3x your total offer reserves to avoid this.
Haveno doesn’t send push notifications (it runs over Tor, not through app stores). Check your trades regularly. A buyer who went silent may have sent payment and is waiting for your confirmation. Don’t leave them hanging.
Never send cash without tracking. If the envelope gets lost and there’s no tracking number, you have zero evidence in a dispute. Always use registered/tracked mail, even for small amounts. The extra €2–5 is cheap insurance.
If you post a sell offer and someone takes it, you’re committed. Your XMR is locked in multisig. If you can’t deliver (because you don’t actually have the XMR), the buyer will open a dispute and you’ll lose your deposit. Only post offers you can actually complete.
Cash by Mail trades take days. SEPA takes 1–2 business days. This is normal. The blockchain doesn’t care about business hours, but banks and postal services do. If it’s a weekend and your SEPA transfer hasn’t arrived, wait until Monday before worrying.
On RetoSwap (15% deposit), a €500 trade locks €75 per party. On DawnSwap (5%), only €25. If capital efficiency matters to you, DawnSwap is better for smaller trades. But higher deposits also mean your trade partner has more to lose — which discourages fraud.
Haveno is a decentralized P2P exchange for Monero. It connects buyers and sellers directly over Tor. Trades use 2-of-3 multisig escrow: buyer, seller, and arbitrator each hold one key. Two keys are needed to release funds, so nobody can cheat alone. It’s a fork of Bisq, redesigned around Monero instead of Bitcoin.
Yes. The 2-of-3 multisig means no single party controls the funds. Your XMR is in a multisig wallet on your machine, not on a server. If there’s a dispute, a human arbitrator reviews evidence. All traffic runs over Tor. You control your keys at all times.
To create offers, yes (for the security deposit). But some networks let buyers take offers without a deposit for small amounts. You can also get initial XMR via instant swaps (Trocador), from a P2P trader, or by mining with P2Pool.
DawnSwap for beginners (lower deposits, faster disputes). RetoSwap for large volume (higher liquidity, proven track record). See the comparison table above for the full breakdown. Using both is ideal.
Open a dispute immediately. Provide evidence (tracking, screenshots, chat history). The arbitrator returns your XMR and may award you the buyer’s deposit. Resolution takes 24–48h on RetoSwap, minutes to hours on DawnSwap.
No. Tor is built in and required. All connections route through Tor automatically — you don’t need to install anything extra. This is a core privacy feature, not optional.
Depends on payment method. Face-to-Face: minutes. SEPA: 1–2 business days. Cash by Mail: 2–7 days. The Monero side (deposits, payouts) takes about 20 minutes. Fiat payment speed is always the bottleneck.
In most jurisdictions, yes. Haveno is open-source software for P2P trading. No KYC is collected. Tax obligations may apply to capital gains depending on your country. The EU AMLR (July 2027) may affect custodial platforms, but Haveno is non-custodial and decentralized.
SEPA, Cash by Mail, Face-to-Face, Revolut, Wise, Zelle, national bank transfers, crypto swaps, and more. Cash by Mail and Face-to-Face are the most private (no bank involved). Available methods depend on the network.
Account creation is free. Trading fees: RetoSwap 0.6% total, DawnSwap ~2% total, plus negligible Monero network fees. Security deposits (5–15%) are returned after the trade — they’re not a fee.
I trade on both RetoSwap and DawnSwap, with Cash by Mail (EU-wide) and Face-to-Face (SW Germany: Frankfurt, Stuttgart, Mannheim, Heidelberg, Karlsruhe, Freiburg, Strasbourg). 683 completed trades, 100% positive feedback.
Telegram @arnoldnakamura · Signal · Full profile & reputation proof
Previously chingchongfalung on LocalMonero/AgoraDesk · Archived profile
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