Cash by mail
Cash by mail (CBM) is one of the most private payment methods on Bisq.
This payment method has special requirements you should be aware of, so please read this article carefully before doing any cash by mail trades.
Setting up a CBM account in Bisq
When setting up cash-by-mail payment account in Bisq, you will be asked to enter the following information:
- Name or nym the package should be addressed to
- Postal address
- Additional information
If selling BTC, the name/nym and address fields should be the name you would like to buyer to address the package to. If buying BTC, the name/nym and address fields should be the name the seller or postal service to return the package to in case of any issues.
You can only select one currency for a single cash-by-mail account. If you would like to trade with more than one currency, please create separate accounts for each currency.
Define any special terms, conditions, or details you would like to be displayed with your offers in the 'Additional Information' field. Users can see this field before taking the offer by clicking the info icon of the offer.
|Consider setting up separate cash-by-mail accounts for buying and selling so you can specify special instructions for each.|
Making a CBM offer
Make sure to state any special terms or conditions in the 'Additional Information' field of the payment account before making an offer. The person taking the offer will be accepting these terms and conditions by taking the offer.
Taking a CBM offer
Make sure to check the offer maker's terms and conditions before taking a CBM offer. If you cannot fulfill the terms, do not take the the offer. If you have specific terms you would prefer, consider making your own offer instead.
Sending cash in the mail
Please see the Bisq trade protocol for general trading rules.
In addition, buyers should:
- Package cash in a tamper-evident cash bag. You can get one at the FULMO shop (the Bisq project gains nothing for providing this link. Fulmo is a friendly member of the Bisq community).
- Place tamper-evident cash bag inside another package.
- Address the package to the name and address in the seller's cash-by-mail payment account.
- Follow any special requirements and conditions set by the seller.
- Film or take high-resolution photos of the cash packaging process with the address and tracking number already affixed to packaging.
- Send the cash package to the BTC seller with a courier service that requires receipt of delivery to be confirmed by the seller.
- Consider using a courier service that has appropriate insurance in place for any issues with delivery.
- Communicate with courier service as required.
Please make sure you have all the necessary items arranged before taking an offer (tamper-evident cash bags, other packaging, courier and insurance picked out, etc).
Receiving cash in the mail
When receiving cash in the mail, you should:
- Film the opening of the package, making sure that the tracking number provided by the sender is visible in the video.
- Follow any special requirements and conditions set by the buyer.
- Communicate with buyer's courier service as required.
Cash-by-mail trades are less verifiable than other fiat trades. This makes handling disputes much harder, so the onus to act honestly is squarely on both peers.
It is highly recommended for peers to make use of Bisq's trader chat to communicate directly with one another. This is the most promising way to resolve any issues that may arise during the trade.
Regarding dispute resolution, please note:
- Mediators can consider your case and make a suggestion, but they are NOT guaranteed to help.
- If a mediator is engaged, and if either peer rejects the mediator's suggestion, both peers' funds will be sent to a Bisq 'donation' address, and the trade will effectively be completed.
- If a trader rejects a mediation suggestion and opens arbitration, it could lead to lose both trading and deposit funds.
- Arbitrators will make a decision based on the evidence provided to them. Therefore, please follow and document the above processes to have evidence in case of dispute. For cash-by-mail trades, arbitrator decisions are final, meaning reimbursement requests to the Bisq DAO for any funds lost in cash-by-mail trades will NOT be considered.