Difference between revisions of "Trading BSQ"

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(update link to creating an altcoin account)
(BSQ alt trading was deprecated.)
 
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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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== How to obtain BSQ ==
  
=== Get your BSQ address ===
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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.
  
[[File:Buy bsq get address.jpg|1000px|thumb|center]]
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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.
  
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.
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= Old trading protocol =
  
=== Create an account ===
 
  
Once the BSQ address is copied into the clipboard, you can proceed to [[Creating_a_payment_account#Creating_an_altcoin_account | create an account]].
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'''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.
  
=== Buy BSQ ===
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== Why buy or sell BSQ? ==
  
To buy BSQ you can [[Make_an_offer | make]] your offer or [[Take_an_offer | take]] an existing one.
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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]].
  
<!-- ===Verify BSQ payments === -->
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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.
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== Get your BSQ address ==
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In order to create a payment account for trading BSQ, you'll first need a 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.
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[[File:Get-bsq-address.png|600px|thumb|left|Get BSQ address.]]
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<div style="clear: both;"></div>
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== Create a payment account ==
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Once you've found your BSQ address, create a BSQ payment account at <code>Account</code> > <code>Altcoin Accounts</code>.
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Click <code>Add New Account</code>, pick <code>BSQ</code> in the dropdown, and paste your BSQ address.
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== Buy or sell  BSQ ==
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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.
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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]]

Latest revision as of 10:57, 16 June 2024

How to obtain BSQ

The faster, cheaper, easier, and trustless way to obtain BSQ is through 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 has been deprecated in favor of swaps, as it offers no advantages over the former.

Old trading protocol

Trading BSQ is very similar to trading any other altcoin, but instead of using an external wallet to send and receive funds, you use the BSQ wallet built in to your Bisq application.

Why buy or sell BSQ?

For traders, using BSQ colored bitcoin to pay trading fees can be a lot cheaper than using plain BTC to pay trading fees. The target discount rate is 50%, fluctuates with market prices, and is re-calibrated on a monthly basis.

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.

Get your BSQ address

In order to create a payment account for trading BSQ, you'll first need a 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.

Get BSQ address.

Create a payment account

Once you've found your BSQ address, create a BSQ payment account at Account > Altcoin Accounts.

Click Add New Account, pick BSQ in the dropdown, and paste your BSQ address.

Buy or sell BSQ

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 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 (!).