Difference between revisions of "Cash by mail"
| Line 31: | Line 31: | ||
= Sending cash in the mail = | = Sending cash in the mail = | ||
| − | + | When sending cash in the mail the buyer should do the following: | |
| − | * | + | |
| − | * | + | * Package cash in a tamper-evident cash bag. |
| + | * Place tamper-evident cash bag inside another package. | ||
| + | * Address the package to the name and address provided by the seller's cash by mail payment account. | ||
| + | * Follow any special requirements / conditions set by the offer maker. | ||
| + | * 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. | ||
= Receiving cash in the mail = | = Receiving cash in the mail = | ||
Revision as of 00:58, 25 January 2021
Cash by Mail (CBM) is one of the most private payment methods on Bisq.
This article covers what to be aware of and what rules to follow when using this payment method for buying and selling bitcoin on Bisq. When trading using cash by mail it is essential that you understand the trade rules:
Contents
Setting up a payment account in Bisq
When setting up cash by mail payment account in Bisq you can enter the following information.
- Your full name
- Postal address
- Currency
- Additional information
If selling BTC for cash the name & address fields should the name you would like to buyer to address the package to. If buying BTC for cash the name & address fields should the name you would like to seller/postal service to return the package to if there are any issues.
You can only select one currency per cash by mail account. If you would like to trade with more than one currency please create a separate account.
The additional information field allows users to define any special terms, conditions, or details you would like to be displayed with your offers for this payment account (users will see this information before deciding if to accept your offer). If you are going to be making offer for both buying and selling BTC using cash by mail it would be recommended to set up two cash by mail accounts so specific instructions can be given for each.
Making an offer to buy or sell BTC using cash by mail on Bisq
The person making the offer must state any special terms or conditions in the 'Additional Information' field of the payment account. The person taking the offer will be accepting these terms / conditions by taking the offer.
Taking an offer to buy or sell BTC using cash by mail on Bisq
When taking an offer make sure you agree the offer maker's terms and conditions. If you are not accepting of their terms and conditions do not take the their offer. If you have your own specific conditions you would like to be met consider making your own offer rather than taking someone else. You can make offers to both Buy and Sell BTC.
Sending cash in the mail
When sending cash in the mail the buyer should do the following:
- Package cash in a tamper-evident cash bag.
- Place tamper-evident cash bag inside another package.
- Address the package to the name and address provided by the seller's cash by mail payment account.
- Follow any special requirements / conditions set by the offer maker.
- 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.
Receiving cash in the mail
- BTC seller should film the opening of the package, making sure that the tracking number provided by the sender is visible in the video.
Mediation and arbitration considerations when trading using cash by mail
- CBM trades put the onus to act honestly squarely on both peers.
- CBM trades have less verifiable actions than other fiat trades. This makes handling dispute much harder.
- Try to resolve disputes directly with your peer using trader chat. This is your most promising route to solving any CBM dispute.
- 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 the Arbitrators decision is final.
- Reimbursement requests any lost funds resulting from Cash By Mail trades to the Bisq DAO will NOT be considered.
- To be sure you fully understand the requirements of cash-by-mail trades.
