BTC vs altcoin do i need to add the altcoin wallet to bisq?

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1

Hi people,

Im new to this platform, i have a small amount in my BTC wallet. And i want to trade it vs a altcoin.
But i dont see where or how i add the altcoin wallets adresses.
Anyone out there that could guide me though this ? Its exciting but also a bit confusing to make my first trade.

Thanks for any help with this

2

You just need to go to the top right in the app where it says Accounts.
Then just select altcoin account and all should be simple from there :slight_smile:

3

thanks for awnsering a noobie question, but now im sure how that works :smiley:

4

Could someone elaborate on the Altcoin address, like how do we assign one to Bisq and I don’t think this will work with Monero

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5

You simply input your altcoin address so that the other trader knows to which address to send the altcoins when you are buying them and from which address altcoins should be received when you sell them.

It works for Monero, don’t worry, Monero is one of the most traded altcoins in Bisq, if not most traded. Some special ways are implemented, as far as I am aware, to prove Monero payment in case of a dispute.

6

So “your altcoin address” would be the deposit address of the altcoin wallet one would have some other place, like on a phone or computer?

7

If you are buying altcoins with Bisq, then yes, that is correct.
If you are selling them, I am not sure if it matters, but optimally you would place the address from which you would be sending those altcoins to the other trader.

8

@alexej996 Thank you for clarifying, yet that raises a new question, if I’m selling would the buyer be looking to the account address entered in the bisq as some aspect of validation? If so any valid deposit address of the seller’s wallet would be ok?
Sorry for the questions it just seems odd to me that the user puts in an address I’m usually familiar with using the address generated by the trading platform wallet system.

9

I am not sure to be honest, but I don’t see why the other trader would open a dispute just because he received altcoins from the other address. For fiat trades this must be the case for some fraud reasons to avoid seller’s bank account getting frozen.