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Friends today I’m here a new application for you. The application name is Bisq. This is a new bye and selling cryptocurrency application. So today I will tell you about this application’s features and how to complete signup in this app.

Bisq Application Review 2024

This app is a desktop software protocol that operates as a fully peer-to-peer (P2P) decentralized exchange trading network. Here are some key points about this app:

1. Decentralization: Unlike traditional brokerage accounts, Bisq is a decentralized exchange (DEX). This means there’s no central authority or middleman involved. Instead, it connects buyers and sellers directly, similar to how Craigslist connects people for various transactions¹.
2. Privacy and Anonymity: Bisq emphasizes privacy and anonymity. When you use Bisq, you keep control of your crypto assets, and it’s open to unbanked users. Plus, it’s owned and run by its traders and contributors, much like a credit union¹.
3. Security: Decentralization offers certain security advantages. However, it’s essential to note that Bisq may not be suitable for everyone. While it provides increased privacy, it also requires more effort to buy or sell crypto. Additionally, there’s no credit card payment option.
4. Application: The application is somewhat basic, but it serves its purpose for those who value decentralization. If you’re a crypto traditionalist who believes in the ideology of decentralized governance, Bisq might be a good fit for you.
5. Potential for Fraud: As with any exchange, there’s always a risk of fraud. Users should exercise caution and follow best practices to protect their assets.

In summary,  is an excellent entry point into the world of peer-to-peer crypto trading and decentralized exchanges. If you’re aligned with the principles of decentralization, it’s worth exploring further!

I hope you understand about this app’s features. Next, I will tell you how to complete the signup process in this app

How to complete the Signup process in Bisq App

Signing up for this app is straightforward, and you can start trading in less than 10 minutes. Here’s a step-by-step guide:

1. Download and Install This App:
   • You can download the application from the official website or directly from GitHub.
   • If you choose to download from the website, make sure to verify your installer file to ensure it hasn’t been tampered with.
2. Open The App:
   • Once installed, open this application on your desktop.
3. Add Your Accounts:
   • In Bisq, you can trade bitcoin for fiat currencies (like USD, EUR, etc.) or other cryptocurrencies.
   • Add your national currency account (e.g., your bank account) or crypto account (if you already have crypto holdings).
4. Create or Take an Offer:
   • To start trading, you can either create a new offer or take an existing one.
   • Creating an offer means setting the terms (price, payment method, etc.) for buying or selling Bitcoin.
   • Taking an existing offer means accepting someone else’s terms.
5. Finalize the Trade:
   • Follow the user interface within this app to finalize the trade.
   • Once both parties agree, the trade will be executed securely and privately.
6. Join the Community:
   • Bisq is an open-source project, and they welcome contributions from skilled developers, designers, and security experts.
   • If you’re interested in making Bisq better, explore ways to contribute and join their community.

Remember that Bisq doesn’t require any registration, and it operates as a decentralized exchange network. Happy trading!

How to complete KYC In the Bisq App 

This is a decentralized exchange (DEX) that prioritizes privacy and security. Unlike centralized exchanges, Bisq doesn’t require KYC (Know Your Customer) verification. However, there are some important points to consider:

1. No KYC Requirement:
   • Bisq doesn’t ask for personal information or identity verification during the account setup process.
   • This is a significant advantage for users who value privacy and want to trade without revealing their identity.
2. Trading Process:
   • When you use this app, you create offers to buy or sell Bitcoin. These offers are visible to other traders on the network.
   • Once someone accepts your offer, the trade process begins. Bisq uses a multi-sig escrow system to ensure security during the trade.
3. Security Deposit:
   • To participate in trading, you need to provide a small security deposit in Bitcoin (BTC). This deposit ensures that traders follow the rules and don’t default on their trades.
   • The security deposit is refunded after successful trades.
4. Dispute Resolution:
   • In case of disputes, this app has a mediation and arbitration process. Mediators help resolve issues between traders.
   • The decentralized autonomous organization (DAO) manages the Bisq project and oversees the dispute resolution process.
5. Community and Support:
   • Bisq has an active community and various outreach channels where you can seek help or ask questions.
   • You can find more information on the app Wiki and other resources.

Remember that Bisq is designed for privacy-conscious users who prefer a decentralized approach to trading. If you’re comfortable with these principles, you can start using this app without going through any KYC process.

How To Trade in Bisq App

 

1. Back-Up Your Keys and Seed:
   • Bisq gives you full control over your funds and data. Back up your seed words and data directory to avoid losing important information.
   • Explore this app interface to familiarize yourself with its features.
2. Create a Payment Account:
   • To trade Bitcoin on this app, you need a way to send or receive funds.
   • Bisq handles the Bitcoin side of the trade, while fiat payments (USD, EUR, etc.) are handled through payment services (banks, money orders, cash) or altcoin wallets.
   • Check the list of payment methods to choose the right one for you.
3. Make or Take a Trade:
   • Making an offer allows you to set the terms (payment method, deposit percentage, etc.) while taking an existing offer is more convenient.
   • Be aware of trading fees and explore the Bird’s Eye View of this app Trade video to understand both sides of a trade.

Bisq App Dashboard

 

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