Topic: Buying stablecoins with fiat in a decentralized way? (Read 495 times)
Komodo's Atomic DEX has this feature, though I am not sure it is 100% decentralized yet (IIRC, it's not 100% decentralized but they're going to get closer with every update). You can exchange BTC or some other cryptos into two (or three) stablecoins through it, but the volume is quite low for now so don't expect instant trading with good offers.
Person to person dealing is the only way otherwise you really need to post a buy order on a centralized exchange, you can minimize your risk by setting you preference on localbitcoins and be sure to conduct your business inside a secure premises.
I do not know about you guys and about your localities but where i live here we do have exchangers or local agents that can arrange you any coin or currency you want for fiat in both directions, i mean you can buy or sell your coins for fiat face to face and the fee is usually very small that is why i really like this service and i usually use them and i have good contacts and relationship with few of such local exchangers.
What is the difference between buying bitcoins in decentralized way and then buying stablecoins using bitcoins from directly buying stablecoins using fiats?
If you are concerned about fees involved then I am sorry no one could help you.
I believe that you must be having enough options to buy bitcoin or many other major crytpos using fiats as localbitcoins or paxful are available at every part of this world to help you to deal in decentralized manner. Once you get bitcoin or any other crypto use it to buy stablecoins from reputed exchanges. There are many reputed exchanges are still available to use them without need of clearing KYC.
There are two things here you need to be flexible with: no direct fiat payments for stablecoins and you need to make use of centralized exchanges. This crypto space is still lagging in required basic infrastructures to make sure that we deal on decentralized manner all the times. Until having enough infrastructures for ensuring privacy and decentralization, we need to be flexible like I suggest here. No other go
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If you are concerned about fees involved then I am sorry no one could help you.
I believe that you must be having enough options to buy bitcoin or many other major crytpos using fiats as localbitcoins or paxful are available at every part of this world to help you to deal in decentralized manner. Once you get bitcoin or any other crypto use it to buy stablecoins from reputed exchanges. There are many reputed exchanges are still available to use them without need of clearing KYC.
There are two things here you need to be flexible with: no direct fiat payments for stablecoins and you need to make use of centralized exchanges. This crypto space is still lagging in required basic infrastructures to make sure that we deal on decentralized manner all the times. Until having enough infrastructures for ensuring privacy and decentralization, we need to be flexible like I suggest here. No other go
. 
Is there a way to buy cryptocurrency (particularly stablecoins such as DAI) with fiat money without using centralized exchanges or centralized parties (such as arbitrators, mediators, watchers) that is secure?
Something like LocalBitcoins but without needing a 3rd party when there is a dispute. The reason I ask is that even with these non-custodial peer to peer marketplaces, there is still a central point of failure that would bring down the entire market if it goes off line. For example, if the mediators fail to respond on Bisq, Bisq stops working in cases of disputes.
Good question. I don't think something like this exist today Something like LocalBitcoins but without needing a 3rd party when there is a dispute. The reason I ask is that even with these non-custodial peer to peer marketplaces, there is still a central point of failure that would bring down the entire market if it goes off line. For example, if the mediators fail to respond on Bisq, Bisq stops working in cases of disputes.
You can find someone in person and buy directly from them, or try using trusted escrow in bitcointalk forum.
I also think LocalCryptos is better option than Localbitcoins.
Is there a way to buy cryptocurrency (particularly stablecoins such as DAI) with fiat money without using centralized exchanges or centralized parties (such as arbitrators, mediators, watchers) that is secure?
Something like LocalBitcoins but without needing a 3rd party when there is a dispute. The reason I ask is that even with these non-custodial peer to peer marketplaces, there is still a central point of failure that would bring down the entire market if it goes off line. For example, if the mediators fail to respond on Bisq, Bisq stops working in cases of disputes.
I do not know about you guys and about your localities but where i live here we do have exchangers or local agents that can arrange you any coin or currency you want for fiat in both directions, i mean you can buy or sell your coins for fiat face to face and the fee is usually very small that is why i really like this service and i usually use them and i have good contacts and relationship with few of such local exchangers. Something like LocalBitcoins but without needing a 3rd party when there is a dispute. The reason I ask is that even with these non-custodial peer to peer marketplaces, there is still a central point of failure that would bring down the entire market if it goes off line. For example, if the mediators fail to respond on Bisq, Bisq stops working in cases of disputes.
I think it's wise to use popular source to buy stablecoin instead of trying to hide behind the curtain, why not use binance dex or shapeshift instead? They are decentralized as you want
I have never heard of a place that can buy stable coins using fiat directly, all of which definitely require a third party. Maybe the only way you should buy it directly from people you know.
Can you guys share your thoughts on something like this? FiatDex Exchange
It is designed to be a decentralized fiat to stablecoin exchange.
Recently Binance added 5 more fiat currency in Binance.
yes i like the way binance does this and i also hope that more fiat will be added by binance and i also hope other big exchanges can do the same thing as binance If you are so in worries about binance been a Centralized exchange then we have binance dex, find the link and buy DAI with Fiat on the decentralized exchange, there are other options too like shapeshift or changelly
Really? They have that option using fiat? Can you explain more how as far as I know no dex can be connect to any of banks or mode of fiat payment cause if they then its not a dex anymore. This idea is nice, but once a dex incorporated a fiat payment to buy crypto, does this still considered decentralized? Confuse but hopefully a true crypto analyst could explained.
AFAIK, there is no way to buy stable coins in decentralized exchanges but there is an alternative way for that you have to buy bitcoin on decentralized platforms like Bisq using fiat then convert it bitcoin into stable coin, you may have to fee a little bit extra fee but if you care about your privacy then its worth to pay for it.
If you are so in worries about binance been a Centralized exchange then we have binance dex, find the link and buy DAI with Fiat on the decentralized exchange, there are other options too like shapeshift or changelly
Binance dex is a centralized exchange site too that used the name of dex to create a gimmick. so many people have been discussing this and they were having the same opinion if binance dex was a cex Is there a way to buy cryptocurrency (particularly stablecoins such as DAI) with fiat money without using centralized exchanges or centralized parties (such as arbitrators, mediators, watchers) that is secure?
Something like LocalBitcoins but without needing a 3rd party when there is a dispute. The reason I ask is that even with these non-custodial peer to peer marketplaces, there is still a central point of failure that would bring down the entire market if it goes off line. For example, if the mediators fail to respond on Bisq, Bisq stops working in cases of disputes.
You can buy any coin stable coin or cryptocurrency with your fiat currency. When you use fiat currency, you are already in the centralized process. I don't know any decentralized processes to buy any stablecoin. You should use centralized process, more fiat currency will add in Binance. Recently Binance added 5 more fiat currency in Binance. Something like LocalBitcoins but without needing a 3rd party when there is a dispute. The reason I ask is that even with these non-custodial peer to peer marketplaces, there is still a central point of failure that would bring down the entire market if it goes off line. For example, if the mediators fail to respond on Bisq, Bisq stops working in cases of disputes.
If you are so in worries about binance been a Centralized exchange then we have binance dex, find the link and buy DAI with Fiat on the decentralized exchange, there are other options too like shapeshift or changelly
Is there a way to buy cryptocurrency (particularly stablecoins such as DAI) with fiat money without using centralized exchanges or centralized parties (such as arbitrators, mediators, watchers) that is secure?
Something like LocalBitcoins but without needing a 3rd party when there is a dispute. The reason I ask is that even with these non-custodial peer to peer marketplaces, there is still a central point of failure that would bring down the entire market if it goes off line. For example, if the mediators fail to respond on Bisq, Bisq stops working in cases of disputes.
You can try Shapeshift, might work. If you know some people in y' area, you can trade/buy it via peer-to-peer transaction safest way after all. Something like LocalBitcoins but without needing a 3rd party when there is a dispute. The reason I ask is that even with these non-custodial peer to peer marketplaces, there is still a central point of failure that would bring down the entire market if it goes off line. For example, if the mediators fail to respond on Bisq, Bisq stops working in cases of disputes.
That would be hard to find. Almost all parties supporting fiat to crypto are centralized. Dex cant yet make a way for this and only designed for crypto only.
But if you want one, Binance have P2P on some fiat currency to crypto. Why dont you trust a number one exchange for this?
No third party means a direct p2p will be good or a trusted person who are doing buying and selling of cryptocoins and manage via banks or any other wallet apps supporting fiat such as paypal.
But if you want one, Binance have P2P on some fiat currency to crypto. Why dont you trust a number one exchange for this?
No third party means a direct p2p will be good or a trusted person who are doing buying and selling of cryptocoins and manage via banks or any other wallet apps supporting fiat such as paypal.
I have never heard of a place that can buy stable coins using fiat directly, all of which definitely require a third party. Maybe the only way you should buy it directly from people you know.
Is there a way to buy cryptocurrency (particularly stablecoins such as DAI) with fiat money without using centralized exchanges or centralized parties (such as arbitrators, mediators, watchers) that is secure?
Something like LocalBitcoins but without needing a 3rd party when there is a dispute. The reason I ask is that even with these non-custodial peer to peer marketplaces, there is still a central point of failure that would bring down the entire market if it goes off line. For example, if the mediators fail to respond on Bisq, Bisq stops working in cases of disputes.
Something like LocalBitcoins but without needing a 3rd party when there is a dispute. The reason I ask is that even with these non-custodial peer to peer marketplaces, there is still a central point of failure that would bring down the entire market if it goes off line. For example, if the mediators fail to respond on Bisq, Bisq stops working in cases of disputes.
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