Difference between revisions of "Bisq Easy"
Darawhelan (talk | contribs) |
Darawhelan (talk | contribs) |
||
| Line 38: | Line 38: | ||
Bisq Easy trades do not require any security deposits from either the buyer or seller. | Bisq Easy trades do not require any security deposits from either the buyer or seller. | ||
| − | === Privacy benefits / trade-offs == | + | === Privacy benefits / trade-offs === |
As no security deposits are required buyers and sellers using fiat will be revealing their bank account details to users that might end up backing out of the trade. If a user backs out of a trade there is less possibility to penalize them than if they had to trade using a security deposit. | As no security deposits are required buyers and sellers using fiat will be revealing their bank account details to users that might end up backing out of the trade. If a user backs out of a trade there is less possibility to penalize them than if they had to trade using a security deposit. | ||
Revision as of 00:46, 29 October 2023
Bisq Easy is a trade protocol for Bisq 2 that allows users to buy bitcoin with no security deposit, no trade fees and no security deposit.
Bisq Easy is the first new trade protocol for Bisq 2. More trade protocols are planned for the future.
Contents
- 1 Bisq Easy Trade Protocol Specifics
- 2 Reputation
- 3 Using Bisq Easy to buy bitcoin
- 4 Using Bisq Easy to sell bitcoin
- 5 How to buy bitcoin on Bisq Easy
- 6 Creating an offer to buy bitcoin
- 7 Taking an offer to buy bitcoin
- 8 How to sell bitcoin on Bisq Easy
- 9 Creating an offer to sell bitcoin
- 10 Taking an offer to sell bitcoin
Bisq Easy Trade Protocol Specifics
Trade fees
There are no trade fees for buyers or sellers for trading on Bisq Easy.
Mining fees
Buyers will not have to pay any mining fees when then trade on Bisq Easy.
Sellers will need to pay the mining fee for sending the bitcoin to the buyer's address following them receiving the fiat or altcoin payment.
Security mechanisms
The security mechanism of Bisq Easy is based on the reputation of the seller. Buyers will have increased security by choosing to trade with sellers that have a high reputation.
The security of the trade is proportional to the reputation of the seller.
Dispute mechanisms
Buyers and sellers trading on Bisq Easy can access mediation support should anything go wrong with their trade.
Mediators will be able to:
- Help facilitate the successful completion of the trade
- Confirm fiat / altcoin and bitcoin payments
- Help cancel trade if needed
- Ban the buyer or seller is needed
In extreme cases (for example fraud) mediators will create a proposal for the seller's BSQ bond to be confiscated. To be approved this would have to be voted on by the Bisq DAO.
Security deposit requirements
Bisq Easy trades do not require any security deposits from either the buyer or seller.
Privacy benefits / trade-offs
As no security deposits are required buyers and sellers using fiat will be revealing their bank account details to users that might end up backing out of the trade. If a user backs out of a trade there is less possibility to penalize them than if they had to trade using a security deposit.
