Paying trading fees with BSQ - Revision history

Plebeian9000 at 20:07, 23 April 2021

2021-04-23T20:07:18Z

Plebeian9000: switch from docs style to wiki style

2021-04-23T19:55:44Z

switch from docs style to wiki style

Plebeian9000: Plebeian9000 moved page DAO user guide for traders to Paying trading fees with BSQ

2021-04-23T17:14:29Z

Plebeian9000 moved page DAO user guide for traders to Paying trading fees with BSQ

Bayer at 17:30, 18 September 2020

2020-09-18T17:30:21Z

Bayer: /* Beyond trading fees */

2020-09-18T16:00:35Z

Beyond trading fees

Bayer at 15:57, 18 September 2020

2020-09-18T15:57:01Z

Bayer at 15:56, 18 September 2020

2020-09-18T15:56:33Z

Bayer at 15:53, 18 September 2020

2020-09-18T15:53:04Z

Bayer at 15:47, 18 September 2020

2020-09-18T15:47:40Z

Bayer at 15:44, 18 September 2020

2020-09-18T15:44:40Z

@@ Line 31: / Line 31: @@
 <div style="clear: both;"></div>
-== Make or take a BSQ offer ==
+=== Make or take a BSQ offer ===
 Once you have a BSQ payment account set up, you can buy and sell BSQ.

@@ Line 1: / Line 1: @@
-'''<big>This short guide will show you how to use BSQ to pay lower trading fees. Using BSQ also compensates Bisq contributors, making the Bisq network a sustainable free and open source software project.</big>'''
+'''Paying trade fees with BSQ''' enables traders to get a 50% discount on trading fees while compensating Bisq contributors.
-Bisq’s token is a bit different from most other exchange tokens: its primary reason to exist is to enable the decentralized operation and management of the Bisq network. That means no central wallets or accounts to accumulate funds, and no legal entity or leadership team to control strategy. See more details [[Introduction_to_the_DAO|in this doc]] or [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e in these videos].
+This article explains how to get BSQ and use it to pay for trading fees.
-For you, as a trader, discounted trading fees are a practical result of this approach: the mechanisms above require that trading fees be paid in BSQ, so the software encourages traders to pay fees with BSQ by making them cheaper than plain BTC fees.
+__TOC__
-Let’s see how to take advantage of this.
+== Background ==
 == Acquire BSQ ==
-Although BSQ is [https://docs.bisq.network/dao-technical-overview.html#bsq-token technically bitcoin], it’s [https://en.bitcoin.it/wiki/Colored_Coins colored bitcoin] that must be kept in a Bisq wallet, separate from plain bitcoin.
+Although BSQ is [[BSQ technically bitcoin]], it’s [https://en.bitcoin.it/wiki/Colored_Coins colored bitcoin] that must be kept in a Bisq wallet, separate from plain bitcoin.
-=== Retreive your BSQ address ===
+To help you do this, and to avoid mistakes, Bisq automatically generates a separate BSQ wallet with addresses prefixed with a <code>B</code>—so you can be sure when you’re sending or receiving from a BSQ address.
-You can find your BSQ wallet address in <code>DAO > BSQ wallet > Receive.</code>
+=== Retrieve your BSQ address ===
-[[File:Bsq-wallet-address.png|700px|thumb|left]]
+You can find your BSQ wallet address in <code>DAO</code> > <code>BSQ wallet</code> > <code>Receive</code>.
 <div style="clear: both;"></div>
 === Create BSQ payment account ===
-To trade BSQ on Bisq, you need to set up an altcoin account using your BSQ address.
+To trade BSQ on Bisq, you need to set up an altcoin account using your BSQ address. If you're curious about Instant trades, check out [[Altcoins_Instant this article]].
 <div style="clear: both;"></div>
-=== Make or take a BSQ offer ===
+== Make or take a BSQ offer ==
-Now that you have a BSQ payment account configured, you can trade BSQ.
+Once you have a BSQ payment account set up, you can buy and sell BSQ.
-Simply pick an offer you like (or make an offer of your own) and complete the trade.
+Pick an offer you like (or make an offer of your own) and complete the trade.
 <div style="clear: both;"></div>
-=== Use BSQ to pay trading fees ===
+== Use BSQ to pay trading fees ==
 Once you’ve got some BSQ, you can use it to pay trading fees.
@@ Line 51: / Line 46: @@
 When you get to the <code>Take offer</code> screen where you confirm the trade amount, you’ll see a toggle for trading fees where you can select between BTC and BSQ trading fees.
-[[File:trading-fee-toggle.png|700px|thumb|left]]
+[[File:trading-fee-toggle.png|700px|thumb|left|Pick BSQ to pay trading fees on the make-offer or take-offer screen.]]
 <div style="clear: both;"></div>
 Pick the option you like better and complete the trade!
-{{Admonition Note|[[Trading_fees|Using BSQ to pay for your trading fees]] is cheaper then regular Bitcoin and it also helps pay contributors for their work! Bisq encourages traders to use BSQ by offering a discount of approximately 50%!}}
+{{Admonition Note|[[Trading_fees|Using BSQ to pay trading fees]] is about 50% cheaper then using plan bitcoin, and it also helps pay contributors for their work!}}
 == Beyond trading fees ==
-BSQ is also a core element of Bisq’s governance mechanism, allowing stakeholders like you to have a hand in crafting the strategy of the project through a voting process.
+BSQ is also a core element of Bisq’s governance mechanism, allowing stakeholders (contributors, traders, and anyone else who uses or helps the project) to have a hand in crafting the strategy of the project through a voting process.
-And if you really like Bisq, [[Contributor_checklist|consider contributing]]! Even if you’re not a developer, there’s much you can do.
+Learn more in the [[Introduction_to_the_DAO|DAO introduction]] or [[Decentralized_autonomous_organization|DAO main page]].

@@ Line 58: / Line 58: @@
 {{Admonition Note|[[Trading_fees|Using BSQ to pay for your trading fees]] is cheaper then regular Bitcoin and it also helps pay contributors for their work! Bisq encourages traders to use BSQ by offering a discount of approximately 50%!}}
 == Beyond trading fees ==
@@ Line 67: / Line 66: @@
 We’ve also written a [[DAO_user_guide_for_contributors|companion guide]] that walks you through a DAO voting process.

← Older revision		Revision as of 16:00, 18 September 2020
Line 66:		Line 66:
	You can learn more about it in [[Introduction_to_the_DAO\|this intro doc]] and [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e these videos].		You can learn more about it in [[Introduction_to_the_DAO\|this intro doc]] and [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e these videos].

−	We’ve also written a [[DAO_user_guide_for_contributors\|companion ~~guid~~]] that walks you through a DAO voting process.	+	We’ve also written a [[DAO_user_guide_for_contributors\|companion guide]] that walks you through a DAO voting process.

← Older revision		Revision as of 15:57, 18 September 2020
Line 1:		Line 1:
−	'''<big>This short guide will show you how to use BSQ to pay lower trading fees. Using BSQ also compensates Bisq contributors, making the Bisq network a sustainable free software project.</big>'''	+	'''<big>This short guide will show you how to use BSQ to pay lower trading fees. Using BSQ also compensates Bisq contributors, making the Bisq network a sustainable free and open source software project.</big>'''

	Bisq’s token is a bit different from most other exchange tokens: its primary reason to exist is to enable the decentralized operation and management of the Bisq network. That means no central wallets or accounts to accumulate funds, and no legal entity or leadership team to control strategy. See more details [[Introduction_to_the_DAO\|in this doc]] or [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e in these videos].		Bisq’s token is a bit different from most other exchange tokens: its primary reason to exist is to enable the decentralized operation and management of the Bisq network. That means no central wallets or accounts to accumulate funds, and no legal entity or leadership team to control strategy. See more details [[Introduction_to_the_DAO\|in this doc]] or [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e in these videos].

← Older revision	Revision as of 17:14, 23 April 2021
(No difference)

← Older revision		Revision as of 15:56, 18 September 2020
Line 61:		Line 61:

	== Beyond trading fees ==		== Beyond trading fees ==
		+
		+	BSQ is also a core element of Bisq’s governance mechanism, allowing stakeholders like you to have a hand in crafting the strategy of the project through a voting process.
		+
		+	You can learn more about it in [[Introduction_to_the_DAO\|this intro doc]] and [https://www.youtube.com/playlist?list=PLFH5SztL5cYPAXWFz-IMB4dBZ0MEZEG_e these videos].
		+
		+	We’ve also written a [[DAO_user_guide_for_contributors\|companion guid]] that walks you through a DAO voting process.

← Older revision		Revision as of 15:53, 18 September 2020
Line 35:		Line 35:
	<div style="clear: both;"></div>		<div style="clear: both;"></div>

		+	=== Make or take a BSQ offer ===
		+
		+	Now that you have a BSQ payment account configured, you can trade BSQ.
		+
		+	Simply pick an offer you like (or make an offer of your own) and complete the trade.
		+
		+	[[File:bsq-buy-offers.png\|700px\|thumb\|left]]
		+
		+	<div style="clear: both;"></div>
		+
		+	=== Use BSQ to pay trading fees ===
		+
		+	Once you’ve got some BSQ, you can use it to pay trading fees.
		+
		+	When you get to the <code>Take offer</code> screen where you confirm the trade amount, you’ll see a toggle for trading fees where you can select between BTC and BSQ trading fees.
		+
		+	[[File:trading-fee-toggle.png\|700px\|thumb\|left]]
		+
		+	<div style="clear: both;"></div>
		+
		+	Pick the option you like better and complete the trade!
		+
		+	{{Admonition Note\|[[Trading_fees\|Using BSQ to pay for your trading fees]] is cheaper then regular Bitcoin and it also helps pay contributors for their work! Bisq encourages traders to use BSQ by offering a discount of approximately 50%!}}

−	~~== Use BSQ to pay trading fees ==~~

	== Beyond trading fees ==		== Beyond trading fees ==

@@ Line 18: / Line 18: @@
 [[File:Bsq-wallet-address.png|700px|thumb|left]]
 === Create BSQ payment account ===
@@ Line 25: / Line 27: @@
 {{Admonition_Note|'''<big>What is instant trading?</big>'''</br>
 For altcoins, Bisq offers instant trading, which shortens the trade period to a maximum of 1 hour. Everything else about instant trades is the same as non-instant trades.</br></br>
-Instant offers are marked as <code>Altcoins Instant</code> in the order book, and you can only accept those offers with an instant altcoins account. Non-instant payment accounts can only be used for non-instant offers.
+Instant offers are marked as <code>Altcoins Instant</code> in the order book, and you can only accept those offers with an instant altcoins account. Non-instant payment accounts can only be used for non-instant offers.}}

← Older revision		Revision as of 15:44, 18 September 2020
Line 6:		Line 6:

	Let’s see how to take advantage of this.		Let’s see how to take advantage of this.
		+
		+	== Acquire BSQ ==
		+
		+	Although BSQ is [https://docs.bisq.network/dao-technical-overview.html#bsq-token technically bitcoin], it’s [https://en.bitcoin.it/wiki/Colored_Coins colored bitcoin] that must be kept in a Bisq wallet, separate from plain bitcoin.
		+
		+	To help you do this, and to avoid mistakes, Bisq automatically generates a separate BSQ wallet for you with its own address prefixed with a ''''B''''—so you can be sure when you’re sending or receiving from a BSQ address.
		+
		+	=== Retreive your BSQ address ===
		+
		+	You can find your BSQ wallet address in <code>DAO > BSQ wallet > Receive.</code>
		+
		+	[[File:Bsq-wallet-address.png\|700px\|thumb\|left]]
		+
		+	=== Create BSQ payment account ===
		+
		+	To trade BSQ on Bisq, you need to set up an altcoin account using your BSQ address.
		+
		+	{{Admonition_Note\|'''<big>What is instant trading?</big>'''</br>
		+	For altcoins, Bisq offers instant trading, which shortens the trade period to a maximum of 1 hour. Everything else about instant trades is the same as non-instant trades.</br></br>
		+	Instant offers are marked as <code>Altcoins Instant</code> in the order book, and you can only accept those offers with an instant altcoins account. Non-instant payment accounts can only be used for non-instant offers.
		+
		+
		+
		+	== Use BSQ to pay trading fees ==
		+
		+	== Beyond trading fees ==