Difference between revisions of "Cash by mail"

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'''Cash by Mail''' (CBM) is one of the most private payment methods on Bisq.  
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'''Cash by mail''' (CBM) is one of the most private payment methods on Bisq.  
  
This article covers what to be aware of and what rules to follow when using this payment method for buying and selling bitcoin on Bisq. When trading using cash by mail it is essential that you understand the trade rules:
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This payment method has special requirements you should be aware of, so please read this article carefully before doing any cash by mail trades.
  
 
__TOC__
 
__TOC__
  
= Setting up a payment account in Bisq =
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= Setting up a CBM account in Bisq =
  
When setting up cash by mail payment account in Bisq you can enter the following information.
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When setting up cash-by-mail payment account in Bisq, you will be asked to enter the following information:
  
* Your full name
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* Name or nym the package should be addressed to
 
* Postal address  
 
* Postal address  
 
* Currency  
 
* Currency  
 
* Additional information  
 
* Additional information  
  
If selling BTC for cash the name & address fields should the name you would like to buyer to address the package to. If buying BTC for cash the name & address fields should the name you would like to seller/postal service to return the package to if there are any issues.
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If selling BTC, the name/nym and address fields should be the name you would like to buyer to address the package to. If buying BTC, the name/nym and address fields should be the name the seller or postal service to return the package to in case of any issues.
  
You can only select one currency per cash by mail account. If you would like to trade with more than one currency please create a separate account.
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You can only select one currency for a single cash-by-mail account. If you would like to trade with more than one currency, please create separate accounts for each currency.
  
The additional information field allows users to define any special terms, conditions, or details you would like to be displayed with your offers for this payment account (users will see this information before deciding if to accept your offer). If you are going to be both buying and selling BTC using cash by mail it would be recommended to set up two cash by mail accounts so specific instructions can be given for each.
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Define any special terms, conditions, or details you would like to be displayed with your offers in the 'Additional Information' field. '''Users can see this field ''before'' taking the offer by clicking the info icon of the offer.'''
  
= Making an offer to buy or sell BTC using cash by mail on Bisq =
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{{Admonition_Note|Consider setting up separate cash-by-mail accounts for buying and selling so you can specify special instructions for each.}}
  
* Offer maker must state any special terms or conditions in the 'Additional Information' field of the payment account.
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= Making a CBM offer =
  
= Taking an offer to buy or sell BTC using cash by mail on Bisq =
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Make sure to state any special terms or conditions in the 'Additional Information' field of the payment account before making an offer. The person taking the offer will be accepting these terms and conditions by taking the offer.
  
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Please note it is against Bisq rules to use the 'Additional Information' field to include advertising offers with a way to contact you prior to the trade (e.g. website, phone, email, or Matrix/Keybase/Telegram user name). Doing this can result in a penalty, should someone take your offer and request for you to be penalized.
  
* Offer taker agrees to the offer maker's terms and conditions by taking the offer.
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= Taking a CBM offer =
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'''Make sure to check the offer maker's terms and conditions before taking a CBM offer.''' If you cannot fulfill the terms, do not take the the offer. If you have specific terms you would prefer, consider making your own offer instead.
  
 
= Sending cash in the mail =
 
= Sending cash in the mail =
  
* BTC buyer should package cash in a tamper-evident cash bag.
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Please see the Bisq trade protocol for [[Trading_rules|general trading rules]].
* BTC buyer should film or take high-resolution photos of the cash packaging process with the address & tracking number already affixed to packaging.
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* BTC buyer should send the cash package to the BTC seller with Delivery Confirmation and appropriate Insurance.
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In addition, buyers should:
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* Package cash in a tamper-evident cash bag. You can get one at [https://shop.fulmo.org/product/tamper-proof-courier-bags/ the FULMO shop] (the Bisq project gains nothing for providing this link. Fulmo is a friendly member of the Bisq community).
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* Place tamper-evident cash bag inside a parcel. AVOID using an envelope where a postal worker would be able to feel a wad of cash as this can lead to stolen cash.
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* Address the package to the name and address in the seller's cash-by-mail payment account.
 +
* Put a return address in case the package cannot be delivered.
 +
* Use inner and outer packaging addressed the same in case the outer one gets ripped open or damaged by water.
 +
* Seal all packages well, with tape.
 +
* Follow any special requirements and conditions set by the seller.
 +
* Film or take high-resolution photos of the cash packaging process with the address and tracking number already affixed to packaging.
 +
* Send the cash package to the BTC seller with a courier service that requires receipt of delivery to be confirmed by the seller.
 +
* Consider using a courier service that has appropriate insurance in place for any issues with delivery (for example USPS Registered Mail that insures packages up to $50,000).
 +
* Communicate with courier service as required.
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 +
'''Please make sure you have all the necessary items arranged ''before'' taking an offer (tamper-evident cash bags, other packaging, courier and insurance picked out, etc).'''
  
 
= Receiving cash in the mail =
 
= Receiving cash in the mail =
  
* BTC seller should film the opening of the package, making sure that the tracking number provided by the sender is visible in the video.
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When receiving cash in the mail, you should:
 +
 
 +
* Film the opening of the package, making sure that the tracking number provided by the sender is visible in the video.
 +
* Follow any special requirements and conditions set by the buyer.
 +
* Communicate with buyer's courier service as required.
 +
 
 +
= Dispute resolution =
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Cash-by-mail trades are less verifiable than other fiat trades. This makes handling disputes much harder, so the onus to act honestly is squarely on both peers.
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It is highly recommended for peers to make use of Bisq's trader chat to communicate directly with one another. This is the most promising way to resolve any issues that may arise during the trade.
  
= Mediation and arbitration considerations when trading using cash by mail =
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Regarding dispute resolution, please note:
  
* CBM trades put the onus to act honestly squarely on both peers.
 
* CBM trades have less verifiable actions than other fiat trades. This makes handling dispute much harder.
 
* Try to resolve disputes directly with your peer using trader chat. This is your most promising route to solving any CBM dispute.
 
 
* Mediators can consider your case and make a suggestion, but they are NOT guaranteed to help.
 
* Mediators can consider your case and make a suggestion, but they are NOT guaranteed to help.
 
* If a mediator is engaged, and if either peer rejects the mediator's suggestion, both peers' funds will be sent to a [https://bisq.wiki/Arbitration#Time-Locked_Payout_Transaction Bisq 'donation' address], and the trade will effectively be completed.
 
* If a mediator is engaged, and if either peer rejects the mediator's suggestion, both peers' funds will be sent to a [https://bisq.wiki/Arbitration#Time-Locked_Payout_Transaction Bisq 'donation' address], and the trade will effectively be completed.
 
* If a trader rejects a mediation suggestion and opens arbitration, it could lead to lose both trading and deposit funds.
 
* If a trader rejects a mediation suggestion and opens arbitration, it could lead to lose both trading and deposit funds.
* Arbitrators will make a decision based on the evidence provided to them. Therefore, please follow and document the above processes to have evidence in case of dispute. For Cash by Mail trades the Arbitrators decision is final.
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* Arbitrators will make a decision based on the evidence provided to them. Therefore, please follow and document the above processes to have evidence in case of dispute. For cash-by-mail trades, arbitrator decisions are final, meaning reimbursement requests to the Bisq DAO for any funds lost in cash-by-mail trades will NOT be considered.
* Reimbursement requests any lost funds resulting from Cash By Mail trades to the Bisq DAO will NOT be considered.
 
* To be sure you fully understand the requirements of cash-by-mail trades.
 

Latest revision as of 20:54, 15 September 2022

Cash by mail (CBM) is one of the most private payment methods on Bisq.

This payment method has special requirements you should be aware of, so please read this article carefully before doing any cash by mail trades.

Setting up a CBM account in Bisq

When setting up cash-by-mail payment account in Bisq, you will be asked to enter the following information:

  • Name or nym the package should be addressed to
  • Postal address
  • Currency
  • Additional information

If selling BTC, the name/nym and address fields should be the name you would like to buyer to address the package to. If buying BTC, the name/nym and address fields should be the name the seller or postal service to return the package to in case of any issues.

You can only select one currency for a single cash-by-mail account. If you would like to trade with more than one currency, please create separate accounts for each currency.

Define any special terms, conditions, or details you would like to be displayed with your offers in the 'Additional Information' field. Users can see this field before taking the offer by clicking the info icon of the offer.

Note
Consider setting up separate cash-by-mail accounts for buying and selling so you can specify special instructions for each.

Making a CBM offer

Make sure to state any special terms or conditions in the 'Additional Information' field of the payment account before making an offer. The person taking the offer will be accepting these terms and conditions by taking the offer.

Please note it is against Bisq rules to use the 'Additional Information' field to include advertising offers with a way to contact you prior to the trade (e.g. website, phone, email, or Matrix/Keybase/Telegram user name). Doing this can result in a penalty, should someone take your offer and request for you to be penalized.

Taking a CBM offer

Make sure to check the offer maker's terms and conditions before taking a CBM offer. If you cannot fulfill the terms, do not take the the offer. If you have specific terms you would prefer, consider making your own offer instead.

Sending cash in the mail

Please see the Bisq trade protocol for general trading rules.

In addition, buyers should:

  • Package cash in a tamper-evident cash bag. You can get one at the FULMO shop (the Bisq project gains nothing for providing this link. Fulmo is a friendly member of the Bisq community).
  • Place tamper-evident cash bag inside a parcel. AVOID using an envelope where a postal worker would be able to feel a wad of cash as this can lead to stolen cash.
  • Address the package to the name and address in the seller's cash-by-mail payment account.
  • Put a return address in case the package cannot be delivered.
  • Use inner and outer packaging addressed the same in case the outer one gets ripped open or damaged by water.
  • Seal all packages well, with tape.
  • Follow any special requirements and conditions set by the seller.
  • Film or take high-resolution photos of the cash packaging process with the address and tracking number already affixed to packaging.
  • Send the cash package to the BTC seller with a courier service that requires receipt of delivery to be confirmed by the seller.
  • Consider using a courier service that has appropriate insurance in place for any issues with delivery (for example USPS Registered Mail that insures packages up to $50,000).
  • Communicate with courier service as required.

Please make sure you have all the necessary items arranged before taking an offer (tamper-evident cash bags, other packaging, courier and insurance picked out, etc).

Receiving cash in the mail

When receiving cash in the mail, you should:

  • Film the opening of the package, making sure that the tracking number provided by the sender is visible in the video.
  • Follow any special requirements and conditions set by the buyer.
  • Communicate with buyer's courier service as required.

Dispute resolution

Cash-by-mail trades are less verifiable than other fiat trades. This makes handling disputes much harder, so the onus to act honestly is squarely on both peers.

It is highly recommended for peers to make use of Bisq's trader chat to communicate directly with one another. This is the most promising way to resolve any issues that may arise during the trade.

Regarding dispute resolution, please note:

  • Mediators can consider your case and make a suggestion, but they are NOT guaranteed to help.
  • If a mediator is engaged, and if either peer rejects the mediator's suggestion, both peers' funds will be sent to a Bisq 'donation' address, and the trade will effectively be completed.
  • If a trader rejects a mediation suggestion and opens arbitration, it could lead to lose both trading and deposit funds.
  • Arbitrators will make a decision based on the evidence provided to them. Therefore, please follow and document the above processes to have evidence in case of dispute. For cash-by-mail trades, arbitrator decisions are final, meaning reimbursement requests to the Bisq DAO for any funds lost in cash-by-mail trades will NOT be considered.