Tutorial: Using Bisq "An open-sourced peer to Peer crypto Exchange."
All the big exchanges are controlled and tracked. And there are a lot of verification that is required there.
In such cases having a peer to peer exchange without much verification is more of importance. After all, Crypto-Currencies are all about privacy.
There is one such Crypto Exchange that is completely peer to peer and is open-sourced.
Meet BISQ
Bisq is an opens-sourced peer to peer crypto exchange that lets you exchange wide varieties of cryptos including our favorite Steem.
Getting Started with Bisq:
You need to download the Windows or IOS application before getting on with the Exchange. Click Here to Download.
Once you download and install, Let it sync for some time. In case the tor network fails, it will give you a link to set it up. Once you're synced you are ready to start.
Setting password:
In order to set password, click on the top right corner "My account" and it shall let you add your password. This is essential so that no one else has control over your account.
Adding Bank account or other modes of fiat trading:
Again, go to "My account option on the top right" and then click on "National Currency account". (Follow the steps in the image)
On clicking the 4th step, the following drop down menu will appear:
You have many options to choose from
After selecting your option you can fill in the details.
Trading:
In order to trade, you need to select which currency you wish to trade with. Than you can either create a new order or fill the existing order.
If you chose to sell or buy steem, you'll be taken to the next page as following.
Select the bottom option of "Create new offer to sell steem ". And upon clicking that, you'll get a new prompt on the page. (As show below)
If you have already set your account, you can now click on "Create Offer".
If you have BTC in your account it will let you create an offer at what price you desire. If you don't have btc, you''ll need to deposit some.
Making a crypto deposit:
Follow the steps in the image below.
That is pretty much it for using this exchange. It's not that difficult once you get the hang of this.
Also it's safe and secure.
Features and Philosophy
Unlike traditional online exchanges, Bisq is designed to be:
Instantly accessible – no need for registration or approval from a central authority.
Decentralized – there is no single point of failure. The system is peer-to-peer and trading can not be stopped or censored.
Safe – Bisq never holds your funds. Decentralized arbitration system and security deposits protect traders.
Private – no one except trading partners exchange personally identifying data. All personal data is stored locally.
Secure – end-to-end encrypted communication routed over Tor.
Open – every aspect of the project is transparent. The code is open source.
Easy – we take usability seriously.
Bisq is for those who do not want to forfeit control or privacy to a central authority in order to trade with other individuals.
We regard financial transactions as a form of private speech that should be protected from surveillance by banks, governments, and other institutions.
Posted on Utopian.io - Rewarding Open Source Contributors
Thank you for the contribution. It has been approved.
Crypto exhanges are our important.
Thanks for your input. :}
You can contact us on Discord.
[utopian-moderator]
Lovely... Our mods are fast as flash...
Really good job man carry on
Super post thank you ! I don't use exchanges yet
Hey @manishmike10 I am @utopian-io. I have just upvoted you!
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