Trading BSQ
Revision as of 09:40, 4 April 2021 by MwithM (talk | contribs) (→Buying small amounts: Add growth issue)
Buying BSQ is like buying any other altcoin, but instead of using an external wallet, you'll have to use the BSQ wallet from a Bisq client.
Get your BSQ address
Go to DAO / BSQ wallet / Receive
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
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 50BSQ without incurring into high costs there is a #buy-bsq channel. This is effectively an over-the-counter (OTC) market without usual Bisq security protections such as security deposits and normal dispute resolution. This are the rules for this type of trades:
- Max amount to trade is 50BSQ. This amount is subject to change, depending on BSQ price and mining fees.
- Sellers are encouraged to post BSQ bonds at DAO. Sellers who have posted a bond to DAO should indicate so at Github growth issue. To know who has bonded BSQ, buyers should look at channel info.
- 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 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.
- Buyer and seller settle the trade via Direct Messages and indicate at #buy-bsq channel that it was successful.