trying bisq for the first time - Bitcoins

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Friday, 8 June 2018

trying bisq for the first time

trying bisq for the first time
/u/user_name_checks_out

so i am attempting my first BTC purchase via bisq.

the first thing that i notice is that you already need to have some BTC in order to buy BTC. at least for the payment method that i have chosen (SEPA). you have to put a small amount of bitcoin into escrow. so for somebody wanting to acquire bitcoin for the first time, this transaction wouldn't work.

i saw a couple of sellers. one seller whose account was zero days old, offering a good price. and another whose account was 90 days old, charging a much higher margin. i went with the first guy, i guess there is a risk that he will reverse the SEPA transfer. also i think he chose the mediators (or whatever they are called) and not me, i don't know what prevents him from setting up two fake mediator accounts and choosing those. i am spending an amount that i can afford to lose.

i am also wondering if my bank will have a problem with the transaction, for example if the seller is already blacklisted. i am not using my main bank account for this, i'm using a throwaway account that i have at another bank.

so let's see how it goes...

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