Difference between revisions of "Trading BSQ"

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(→‎Buying small amounts: Add growth issue)
(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 ==
  
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=== 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.
  
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[[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.
  
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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.
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= Old trading protocol =
  
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=== Create an account ===
 
  
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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.
  
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=== Buy BSQ ===
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== Why buy or sell BSQ? ==
  
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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]].
  
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=== Buying small amounts ===
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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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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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== Get your BSQ address ==
  
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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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In order to create a payment account for trading BSQ, you'll first need a BSQ address.
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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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* 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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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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* 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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* Buyer and seller settle the trade via Direct Messages and indicate at #buy-bsq channel that it was successful.
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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 (!).

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