Difference between revisions of "Trading BSQ"

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(→‎Buying small amounts: Add growth issue)
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Buying [[BSQ]] is like buying any other [[payment_methods#altcoin-payment-methods | altcoin]], but instead of using an external wallet, you'll have to use the BSQ [[BSQ#BSQ_Wallet | wallet]] from a Bisq client.
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The process of '''buying BSQ''' is very similar to that of buying any other [[payment_methods#altcoin-payment-methods | altcoin]], but instead of using an external wallet, you'll use the [[BSQ#BSQ_Wallet | BSQ wallet]] in your Bisq application.
  
 
=== Get your BSQ address ===
 
=== Get your BSQ address ===
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Go to <code>DAO</code> > <code>BSQ wallet</code> > <code>Receive</code> and click the copy icon in the right corner to copy the BSQ address to receive the BSQ payment.
  
 
[[File:Buy bsq get address.jpg|1000px|thumb|center]]
 
[[File:Buy bsq get address.jpg|1000px|thumb|center]]
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Go to <code>DAO / BSQ wallet / Receive</code> and click the icon on the inferior right corner marked with the red square to copy the BSQ address to receive the BSQ payment.
 
  
 
=== Create an account ===
 
=== Create an account ===
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=== Buying small amounts ===
 
=== Buying small amounts ===
  
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To buy amounts under 50BSQ without incurring into high [[Trading_costs|costs]] there is a [https://keybase.io/team/bisq#buy-bsq #buy-bsq channel]. This is effectively an over-the-counter (OTC) market without usual Bisq security protections such as [[security_deposit|security deposits]] and normal [[dispute resolution]]. This are the rules for this type of trades:
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To buy amounts under 50 BSQ without incurring high [[Trading_costs|trading costs]] there is a [https://keybase.io/team/bisq#buy-bsq #buy-bsq channel on Keybase]. This is effectively an over-the-counter (OTC) market without the typical Bisq security mechanisms such as [[security_deposit|security deposits]] and [[dispute resolution]].  
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Rules for these trades:
  
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* Max amount to trade is '''50BSQ'''. This amount is subject to change, depending on BSQ price and mining fees.
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* Max amount to trade is '''50 BSQ'''. This amount is subject to change, depending on BSQ price and mining fees.
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* Sellers are encouraged to post '''BSQ bonds''' at DAO. Sellers who have posted a bond to DAO should indicate so at Github growth [https://github.com/bisq-network/growth/issues/243 issue]. To know who has bonded BSQ, buyers should look at channel info.
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* 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]). Buyers can look at the Keybase channel information to see who is bonded.
 
* Bonded sellers should not trade over their bonded amount. Unbonded sellers can't make more than one trade at the same time.
 
* Bonded sellers should not trade over their bonded amount. Unbonded sellers can't make more than one trade at the same time.
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* Buyers and sellers set their own terms for the trade. Buyers should send first their payment. BTC, Lightning, Liquid and other cryptocurrency payment methods can be used, alongside fiat payment methods. Sellers indicate the price they can sell and payment methods available.
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* 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.
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* Buyer and seller settle the trade via Direct Messages and indicate at #buy-bsq channel that it was successful.
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* Buyer and seller settle the trade via Direct Messages and report back on the #buy-bsq channel when it's successful.
  
 
[[Category:Guides]]
 
[[Category:Guides]]

Revision as of 20:18, 6 April 2021

The process of buying BSQ is very similar to that of buying any other altcoin, but instead of using an external wallet, you'll use the BSQ wallet in your Bisq application.

Get your BSQ address

Go to DAO > BSQ wallet > Receive and click the copy icon in the right corner to copy the BSQ address to receive the BSQ payment.

Buy bsq get address.jpg

Create an account

Once the BSQ address is copied into the clipboard, you can proceed to create an account.

Buy BSQ

To buy BSQ you can make your offer or take an existing one.

Buying small amounts

To buy amounts under 50 BSQ without incurring high trading costs there is a #buy-bsq channel on Keybase. This is effectively an over-the-counter (OTC) market without the typical Bisq security mechanisms such as security deposits and dispute resolution.

Rules for these trades:

  • Max amount to trade is 50 BSQ. This amount is subject to change, depending on BSQ price and mining fees.
  • 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 this example). Buyers can look at the Keybase channel information to see who is bonded.
  • 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 it's successful.
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