Difference between revisions of "Trade Protocols"
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== Bisq Easy == | == Bisq Easy == | ||
| − | Bisq Easy will be the first trade protocol for Bisq 2. It will be accessible on the launch of Bisq 2. | + | Bisq Easy will be the first trade protocol for Bisq 2. It will be accessible on the launch of Bisq 2. It is an easy to use chat based trade protocol for buying and selling bitcoin for fiat. The security is based on reputation of the sellers. |
See here for more information about [[Bisq_Easy|Bisq Easy]]. | See here for more information about [[Bisq_Easy|Bisq Easy]]. | ||
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=== Bisq Lightning === | === Bisq Lightning === | ||
| − | + | Escrow based trade protocol on the Lightning network using multi-party computation cryptography. | |
=== Bisq Multisig === | === Bisq Multisig === | ||
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=== BSQ swaps === | === BSQ swaps === | ||
| − | + | This allows users to swap from BSQ to BTC and vice versa via atomic swaps, instantaneously and secure. | |
=== Liquid Swaps === | === Liquid Swaps === | ||
| − | + | Trade any Liquid based assets like USDT and BTC-L with an atomic swap on the Liquid network. | |
=== Monero Swaps === | === Monero Swaps === | ||
| − | + | Trade Bitcoin and Monero using an atomic cross chain swap. | |
=== Liquid Multisig === | === Liquid Multisig === | ||
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=== Submarine Swaps === | === Submarine Swaps === | ||
| + | |||
| + | This trade protocol allows users to swap between Bitcoin on Lightning network to on-chain Bitcoin. | ||
== Adding Trade Protocols to Bisq 2 == | == Adding Trade Protocols to Bisq 2 == | ||
Trade protocols are designed to be modular so more trade protocols can be added in the future. Anyone with ideas for new trade protocols should join the discussion on [[Matrix_bisq.chat|Bisq's Matrix chat]]. | Trade protocols are designed to be modular so more trade protocols can be added in the future. Anyone with ideas for new trade protocols should join the discussion on [[Matrix_bisq.chat|Bisq's Matrix chat]]. | ||
Revision as of 22:05, 19 November 2023
Bisq 2 will offer users the choice of multiple trade protocols.
A trade protocol serves as the fundamental framework for trading Bitcoin in a secure way. Each trade protocol presents its own set of advantages and trade-offs including:
- Trade fees
- Mining fees
- Security mechanisms
- Dispute mechanisms
- Security deposit requirements
- Privacy benefits / trade-offs
- Convenience
Bisq 2 offers users the flexibility to select the optimal protocol aligning with their requirements and preferences.
All trade protocols will be able to be accessed from the Bisq 2 application independently. Users will be able to switch between trade protocols for different trades should they wish.
As of now, Bisq Easy stands as the sole implemented protocol, tailored for novice Bitcoin users and suitable for smaller trade amounts.
Contents
Bisq Easy
Bisq Easy will be the first trade protocol for Bisq 2. It will be accessible on the launch of Bisq 2. It is an easy to use chat based trade protocol for buying and selling bitcoin for fiat. The security is based on reputation of the sellers.
See here for more information about Bisq Easy.
Future Trade Protocols
Bisq is planning on adding more trade protocols available on Bisq 2. Explore the upcoming trade protocols. Keep an eye out for updates if any of the upcoming protocols catch your interest.
Bisq Lightning
Escrow based trade protocol on the Lightning network using multi-party computation cryptography.
Bisq Multisig
Bisq 1 currently uses a 2-of-2 multisig as its main trade protocol. This involves the buyer and seller putting down a security deposit that is locked in a multisig until the trade completes. At some point this protocol will be moved over to Bisq 2.
BSQ swaps
This allows users to swap from BSQ to BTC and vice versa via atomic swaps, instantaneously and secure.
Liquid Swaps
Trade any Liquid based assets like USDT and BTC-L with an atomic swap on the Liquid network.
Monero Swaps
Trade Bitcoin and Monero using an atomic cross chain swap.
Liquid Multisig
This trade protocol will use the same trade protocol as the 2-of-2 multisig but it will replace Bitcoin (BTC) with Liquid Bitcoin (L-BTC). The advantage to this is fees will be lower, and users will get more privacy with their trades. The disadvantage is that users will not be trading native bitcoin so will have to be comfortable holding LBTC and consider the costs of converting BTC to LBTC and back again.
Submarine Swaps
This trade protocol allows users to swap between Bitcoin on Lightning network to on-chain Bitcoin.
Adding Trade Protocols to Bisq 2
Trade protocols are designed to be modular so more trade protocols can be added in the future. Anyone with ideas for new trade protocols should join the discussion on Bisq's Matrix chat.
