Manual payout

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Revision as of 06:49, 6 April 2020 by Cbeams (talk | contribs) (Fix typo)
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In this process you copy and paste your private keys from the Bisq software into a web browser. As a precaution it is advised you remove all of your funds from this wallet before starting this procedure.


This method is only necessary in extreme occasions where one of the traders may not be available. Therefore it is important to make sure that the person who constructs the transaction does not defraud the other signers.

What you need

This document uses open source tools (other than Bisq) to create, sign and broadcast transactions of funds locked in multisig transactions. To spend out of a multisig, two things are needed:

  • A redeem script.
  • Enough private keys to meet the minimum multisig threshold. Use the string in priv WIF= instead of priv HEX=.

Bisq does not provide the Redeem Script for the multisig, but we can recreate it with all the public keys involved in the multisig.

Tools you need:

1. Get private keys

  1. To access your Bisq wallet's private key press Ctrl + j, alt +j or cmd + j.
  2. Check Include private keys and click COPY TO CLIPBOARD.
  3. Copy, paste and save that information in a bisqWallet.txt file.

2. Get multisig public keys

Each trader involved can get their public keys and the other trader's public keys in their trade JSON contract.

  1. Find your trade under PORTFOLIO.
  2. Click the i icon next to the trade ID, and at the bottom click VIEW CONTRACT IN JSON FORMAT. At the end, you see the Buyer and Seller public keys:

About the legacy protocol

If resolving a trade with the old (legacy) protocol that involved a 2-of-3 multisig, a third public key belonging to the arbitrator is necessary. The arbitrator can get this public key by following the steps above and search in their own bisqWallet.txt file for it. They can find it by looking for the public key for their Arbitrator address. It is the one in the line with context=ARBITRATOR.

An alternative way to get the arbitrator's public key is to look for it in the blockchain. This can be done if at least one of the traders paid the trading fees in BTC.

By tracking the BTC trading fee you can find the cluster of other trades that arbitrator was involved in. Then you need to find to Payout transactions - spending from a 2-of-3 multisig. In these transactions will be able to find three revealed public keys for each trade. The one that is present in both trades is the arbitrator's.

3. Get payout addresses

At the end of the JSON contract file you can also find the intended payout address for each trader:


4. Recreating Redeem script

For all the web interactions use the Tor browser.

  1. Go to the Coinbin web wallet:
  2. At the top click New and from the dropdown menu choose MultiSig Address
  3. Paste the three public keys in the following order:
    • Arbitrator
    • BuyerMultiSigPubKeyHex
    • SellerMultiSigPubKeyHex
  4. Click submit to see an address and a Redeem Script. Make sure the address matches the multisig address for the trade. If not, try to change the order of the public keys.
  5. Copy and save the Redeem Script.

5. Creating transaction

  1. Again, click New at the top, but this time choose Transaction from the dropdown menu.
  2. Paste the Redeem Script in the text field at the top and click Load. It should take a few seconds and then return the value locked in the multisig.
  3. For the first input fill in an address from makerPayoutAddressString and the respective trade amount.
  4. Add a new output by clicking the + sign next to the amount field. For this second output paste the address that belongs to takerPayoutAddressString and the respective trade amount.
  5. Click submit to obtain an encoded transaction string.
  6. Copy and save the transaction.

6. Verify transaction

Click Verify at the top and paste the encoded string obtained from the step 5.e. Verify it all is correct before moving to the next step.

7. Sign transaction

  1. Click Sign at the top of the page and paste your WIF private key obtained in step 1.b in the Private key text field and the encoded transaction in the text field below.
    To find the private key, search your bisqWallet.txt file for the value of the BuyerMultiSigPubKeyHex (or SellerMultiSigPubKeyHex if you are the seller), obtained in step 2.b. The private key beginning with priv WIF= is written after the search result. Ensure that the pasted private key is only the part after the priv WIF=.
  2. Click Submit to get a new encoded transaction string.
  3. Copy and save it and share it with the other parties of the multisig so they can sign and broadcast it.

8. Second signature and broadcast

  1. The second signer clicks Verify at the top of the Coinbin website and pastes the encoded string the previous signer shared with you. If you are ok with it, click Sign at the top of the page and paste your WIF private key from step 1 on the Private key text field and the encoded transaction shared with you in the text field below.
  2. Click Submit to get a new encoded transaction string.
  3. Copy and save it.

9. Verify transaction before broadcasting

  1. Confirm everything is correct and click Broadcast at the top of the page.
  2. After you have signed the transaction paste the encoded transaction string and click Submit.
  3. When complete, delete the bisqWallet.txt file created in step 1.c.