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Topic: [GUIDE] How to buy and sell Bitcoin using Bisq (Read 212 times)

legendary
Activity: 2030
Merit: 1401
Disobey.
January 02, 2023, 08:21:45 AM
#7
However, the "issue" of such exchanges as Bisq is that they're generally a little more complicated compared to centralized services and consume quite a lot more time, especially if you're starting from scratch (without any prior balance).
Of course it's quite hard because most of newbies doesn't know privacy is really important and trying to find the easiest way to buy Bitcoin. They will confused when Bisq is need Bitcoin as the security deposit, how can they have Bitcoin if it's the first time they want to buy Bitcoin? some might think Bisq is a ponzi scheme since it's need Bitcoin lol.

I just hope if Bisq can change or improve this step, also they need a marketing team to promote their project to get more traffic.

Many great, truely decentralized projects (the Particl marketplace comes to mind or privacy wallet solutions for Bitcoin) are suffering from this problem:
- fantastic tech / code / project but
- low or even no marketing and public attention at all

Often this comes from the idea that the project doesn't follow the typical monetary incentives and therefore marketing is frowned upon.
However privacy solution, DEXes etc. need a certain amount of users (usually the more the better) to actually work as intended. So yes, I also hope Bisq will get more attention and adds a tiny marketing team for their project.
hero member
Activity: 924
Merit: 728
However, the "issue" of such exchanges as Bisq is that they're generally a little more complicated compared to centralized services and consume quite a lot more time, especially if you're starting from scratch (without any prior balance).
Of course it's quite hard because most of newbies doesn't know privacy is really important and trying to find the easiest way to buy Bitcoin. They will confused when Bisq is need Bitcoin as the security deposit, how can they have Bitcoin if it's the first time they want to buy Bitcoin? some might think Bisq is a ponzi scheme since it's need Bitcoin lol.

I just hope if Bisq can change or improve this step, also they need a marketing team to promote their project to get more traffic.
hero member
Activity: 1540
Merit: 744
Wanna give this a tiny bump and highly recommend bisq for people looking for a
- decentralized
- hold your own keys
- no KYC
- almost p2p

exchange-solution!

It may take slightly longer to fully understand bisq than a centralized exchange, but it's worth investing these extra 20 minutes.

A nice BONUS of bisq is: You can often sell 2 - 5% above exchange-price.
A tiny drawback: It may take a while (usually a few hours if you go above current rate).
Great guide; thank you for spending your time to write it! As someone who's trying to transition from centralized exchanges (Binance in my case) to a decentralized solution, it's extremely helpful. I'm considering stopping using CEXs but haven't yet been bothered. However, the "issue" of such exchanges as Bisq is that they're generally a little more complicated compared to centralized services and consume quite a lot more time, especially if you're starting from scratch (without any prior balance).
legendary
Activity: 2030
Merit: 1401
Disobey.
Wanna give this a tiny bump and highly recommend bisq for people looking for a
- decentralized
- hold your own keys
- no KYC
- almost p2p

exchange-solution!

It may take slightly longer to fully understand bisq than a centralized exchange, but it's worth investing these extra 20 minutes.

A nice BONUS of bisq is: You can often sell 2 - 5% above exchange-price.
A tiny drawback: It may take a while (usually a few hours if you go above current rate).
hero member
Activity: 490
Merit: 484
However, maybe indeed a topic like this was needed in B&H too after all...
This is the reason why I create this topic because it will help people who doesn't know how to use Bisq will know the steps about it. The main process is only 4 steps which I think it's not hard for people to move using Bisq as their daily exchanges.
legendary
Activity: 3500
Merit: 6205
Looking for campaign manager? Contact icopress!
While I admire that you've put some effort in creating this, you seem to have forgotten to check if this information is already present.
And from what I know, these two topic already seem to cover that, in a way or another:

https://bitcointalksearch.org/topic/ann-bisq-exchange-decentralized-5230289
https://bitcointalksearch.org/topic/guides-for-using-bisq-5416294

However, maybe indeed a topic like this was needed in B&H too after all...
hero member
Activity: 490
Merit: 484
There's already a lot cases where centralized exchange got hacked and scam their users, recent case is FTX where it's booming in everywhere. Now it's a time for everyone to move from centralized exchange to decentralized exchange to prevent from this happen, also protect your privacy, if you want to read why privacy is very important you can visit this thread [1]. Now let's getting started how to install Bisq to withdraw your coins to your own wallet.

1. Download and install Bisq [2]
2. Set up and configure your own fiat payment.
3. Fund your Bisq wallet, at least 15% or 0.006 BTC of every trade. Of course many users especially newcomers don't have any Bitcoin, don't worry you have few way to get it. You can buy through Bitcoin ATM, you can by using P2P in your local area, or you can P2P with users in this forum [3]
4. After then you can make an offer and follow the next steps to complete it, simple! [4]

Actually the steps are quite simple, but many users are complaining if using Bisq is really hard like creating a well designed website from scratch without a programmer. Using Bisq you'll get many advantages over centralized exchange:

1. You don't need to create an account.
2. You have high privacy since it's connecting through Tor network.
3. Your funds will not get freezed.
4. You don't need to wait for few day, week, month(s) for waiting your KYC successfully verified and the most important thing,
5. You'll prevent any kind problem happen in the future if the exchange updated their terms of services (e.g. Russian citizens was able to use CEX, but after Russian get sanctioned all of Russian citizens aren't allowed to use CEX and any other services).


[1] https://bitcointalksearch.org/topic/why-kyc-is-extremely-dangerous-and-useless-5221497
[2] https://bisq.network/downloads/
[3] https://bitcointalk.org/index.php?board=53.0
[4] https://docs.bisq.network/getting-started.html
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