Trading BSQ - Revision history

Strayorigin: Add offer book screenshots; refocus content on BSQ Swaps. Sources and related content.

2025-04-23T16:17:24Z

Add offer book screenshots; refocus content on BSQ Swaps. Sources and related content.

Strayorigin: Restructure page to focus on BSQ Swaps as primary method; remove deprecated old protocol details; retain 'Why Use BSQ' & 'Receiving BSQ' sections; update links & formatting.

2025-04-21T03:34:54Z

Restructure page to focus on BSQ Swaps as primary method; remove deprecated old protocol details; retain 'Why Use BSQ' & 'Receiving BSQ' sections; update links & formatting.

MwithM: BSQ alt trading was deprecated.

2024-06-16T10:57:58Z

BSQ alt trading was deprecated.

Plebeian9000: add note about atomic bsq swaps

2022-02-02T03:04:42Z

add note about atomic bsq swaps

W000000t: /* How to obtain BSQ */

2022-02-01T23:25:11Z

How to obtain BSQ

W000000t at 23:24, 1 February 2022

2022-02-01T23:24:26Z

W000000t: updated to BSQ swaps

2022-02-01T23:23:20Z

updated to BSQ swaps

W000000t at 23:12, 1 February 2022

2022-02-01T23:12:52Z

W000000t at 23:11, 1 February 2022

2022-02-01T23:11:52Z

W000000t: /* How to obtain BSQ */

2022-02-01T23:10:48Z

How to obtain BSQ

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 There are two main reasons users acquire and use [[BSQ]]:
-* '''For Traders:''' Using BSQ to pay trading fees provides a significant discount (target is ~50%, fluctuates with market prices, and is [[Updating_BSQ_trading_fees|re-calibrated each DAO cycle (approximately monthly)]] to maintain this target) compared to paying fees in BTC. See [[Paying trading fees with BSQ]].
+* '''For Traders:''' Using BSQ to pay trading fees provides a significant discount (target is ~50%, re-calibrated each DAO cycle (approximately monthly) - see [[Updating BSQ trading fees]]) compared to paying fees in BTC. See [[Paying trading fees with BSQ]].
 * '''For Contributors:''' BSQ is required to [[Participating in a DAO voting cycle|make proposals and vote]] in the Bisq DAO. Contributors also receive compensation for their work in BSQ, which they might then sell on the Bisq market for BTC. See [[Introduction to the DAO]].
@@ Line 20: / Line 20: @@
      * '''Simpler:''' Does not require setting up a specific "BSQ payment account".
 * '''How to Swap:''' Simply go to the '''Create Offer''' or '''Buy / Sell BTC''' screens in Bisq and select BSQ as the counter-currency against BTC. You can then make or take offers just like any other market. Ensure you have sufficient BTC or BSQ in your [[BSQ#BSQ_Wallet|Bisq wallet]] to cover the trade amount and any fees.
 For full technical details on how the swap protocol works, see the main '''[[BSQ swaps]]''' page.

@@ Line 1: / Line 1: @@
-== How to obtain BSQ ==
+'''BSQ''' is the native token of the Bisq [[Introduction to the DAO|DAO]], used optionally for paying [[Trading fees|trading fees]] at a discount and required for certain [[Introduction to the DAO|governance]] functions like voting and making proposals. This page explains why you might want BSQ and how to obtain it.
-The faster, cheaper, easier, and trustless way to obtain BSQ is through [[BSQ_swaps|BSQ swaps]], available in the Bisq application as the default method when creating an offer to sell BTC for BSQ.
+__TOC__
-What follows is the previous trading protocol for obtaining BSQ, which has been deprecated in favor of swaps, as it offers no advantages over the former.
+== Why Obtain or Use BSQ? ==
-= Old trading protocol =
+There are two main reasons users acquire and use [[BSQ]]:
-'''Trading BSQ''' is very similar to trading any other [[payment_methods#altcoin-payment-methods | altcoin]], but instead of using an external wallet to send and receive funds, you use the [[BSQ#BSQ_Wallet | BSQ wallet]] built in to your Bisq application.
+== How to Obtain BSQ (Recommended Method: Swaps) ==
-== Why buy or sell BSQ? ==
+Since Bisq v1.8.0, the primary, recommended, and default method for trading between BTC and BSQ within the Bisq application is via '''[[BSQ swaps]]'''.
-For traders, using BSQ colored bitcoin to pay trading fees can be a lot cheaper than using plain BTC to pay trading fees. The [[Trading_fees|target discount rate is 50%]], fluctuates with market prices, and is [[Updating_BSQ_trading_fees|re-calibrated on a monthly basis]].
+* '''What are Swaps?''' [[BSQ swaps]] allow BSQ and BTC to be traded '''atomically''' in a single Bitcoin transaction. This makes the process:
-For contributors, BSQ is required to make proposals and cast votes. Contributors are also compensated with BSQ, which can be sold on Bisq for BTC.
+For full technical details on how the swap protocol works, see the main '''[[BSQ swaps]]''' page.
-== Get your BSQ address ==
+== Receiving BSQ ==
-In order to create a payment account for trading BSQ, you'll first need a BSQ address.
+[[File:Get-bsq-address.png|600px|thumb|left|Find your BSQ receiving address under DAO > BSQ Wallet > Receive.]]
 <div style="clear: both;"></div>
-== Create a payment account ==
+{{Admonition_Warn|'''Important:''' BSQ tokens are colored coins based on Bitcoin. While stored in your Bisq Bitcoin wallet file, they should generally only be sent to/from addresses within the Bisq application wallet to avoid issues. Do not send BSQ directly to a non-Bisq Bitcoin wallet or exchange address.}}
-To trade BSQ you can either make an offer or take an existing offer just as you would with any other payment method.
+== Deprecated Trading Method ==
-Since v1.8.0, Bisq offers [[BSQ_swaps|atomic swaps for BSQ/BTC trades]], which means you can buy and sell BSQ for BTC with only a single on-chain transaction. This means mining fees are greatly reduced, and trades are virtually instant (!).
+Previously, BSQ was traded using a manual process similar to other [[Payment methods#Altcoin payment methods|altcoins]], requiring users to create a specific BSQ altcoin payment account. This method was deprecated in favor of [[BSQ swaps]] (introduced in v1.8.0) because swaps are faster, cheaper, more secure (atomic), and easier to use. The old method offers no advantages and should no longer be used.
 [[Category:Guides]]

@@ Line 3: / Line 3: @@
 The faster, cheaper, easier, and trustless way to obtain BSQ is through [[BSQ_swaps|BSQ swaps]], available in the Bisq application as the default method when creating an offer to sell BTC for BSQ.
-What follows is the previous trading protocol for obtaining BSQ, which is still functional, though deprecated in favor of swaps, as it offers no advantages over the former.
+What follows is the previous trading protocol for obtaining BSQ, which has been deprecated in favor of swaps, as it offers no advantages over the former.
 = Old trading protocol =

← Older revision		Revision as of 03:04, 2 February 2022
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	To trade BSQ you can either make an offer or take an existing offer just as you would with any other payment method.		To trade BSQ you can either make an offer or take an existing offer just as you would with any other payment method.
		+
		+	Since v1.8.0, Bisq offers [[BSQ_swaps\|atomic swaps for BSQ/BTC trades]], which means you can buy and sell BSQ for BTC with only a single on-chain transaction. This means mining fees are greatly reduced, and trades are virtually instant (!).

	[[Category:Guides]]		[[Category:Guides]]

@@ Line 3: / Line 3: @@
 The faster, cheaper, easier, and trustless way to obtain BSQ is through [[BSQ_swaps|BSQ swaps]], available in the Bisq application as the default method when creating an offer to sell BTC for BSQ.
-What follows is the previous trading protocol for obtaining BSQ, which is still functional, though deprecated in favor of swaps, as it presents no advantages over the former.
+What follows is the previous trading protocol for obtaining BSQ, which is still functional, though deprecated in favor of swaps, as it offers no advantages over the former.
 = Old trading protocol =

← Older revision		Revision as of 23:24, 1 February 2022
Line 4:		Line 4:

	What follows is the previous trading protocol for obtaining BSQ, which is still functional, though deprecated in favor of swaps, as it presents no advantages over the former.		What follows is the previous trading protocol for obtaining BSQ, which is still functional, though deprecated in favor of swaps, as it presents no advantages over the former.
		+
		+	= Old trading protocol =

← Older revision		Revision as of 23:11, 1 February 2022
Line 31:		Line 31:

	To trade BSQ you can either make an offer or take an existing offer just as you would with any other payment method.		To trade BSQ you can either make an offer or take an existing offer just as you would with any other payment method.
−
−	~~== Buying small amounts ==~~
−
−	~~With mining fees going up, it can be hard to cost-effectively buy a small amount of BSQ (either for trading or DAO participation).~~
−
−	To buy such smaller accounts (currently defined as ≤50 BSQ), you may consider using the [https://bisq.chat `Get your first BTC` room on matrix]. This is effectively an over-the-counter (OTC) market without the typical Bisq security mechanisms such as [[security_deposit\|security deposits]] and [[dispute resolution]].
−
−	~~Rules for these trades:~~
−
−	* Maximum trade amount is currently '''50 BSQ''', but may change in the future depending on BSQ price and mining fees. Minimum is '''10BSQ''', to avoid the dust limit of 5.46BSQ and excessive trading costs.
−	* Sellers are encouraged to post '''BSQ bonds''' in the DAO. Sellers who have posted a bond in the DAO should indicate they have in a GitHub issue in the growth repository (see [https://github.com/bisq-network/growth/issues/243 this example]).
−	* Bonded sellers should not trade over their bonded amount. Unbonded sellers can't make more than one trade at the same time.
−	* Buyers and sellers set their own terms for the trade. Buyers should send their payment first. BTC, Lightning, Liquid or any other cryptocurrency (or even fiat) payment methods preferable to traders can be used. Sellers quote their price and preferred payment methods.
−	* Buyer and seller settle the trade via direct messages and report back on the #buy-bsq channel when the trade is successful.

	[[Category:Guides]]		[[Category:Guides]]

@@ Line 9: / Line 9: @@
 == How to obtain BSQ ==
-The faster, cheaper, easier, and trustless way to obtain BSQ is through [[BSQ_Swaps|BSQ swaps]], available in the Bisq application as the default method.
+The faster, cheaper, easier, and trustless way to obtain BSQ is through [[BSQ_swaps|BSQ swaps]], available in the Bisq application as the default method.
 What follows is the previous trading protocol for obtaining BSQ, which is still functional, though deprecated in favor of swaps, as it presents no advantages over the former.