How to buy ETH with BTC

How to buy ETH with BTC

Hello all. Novice here. I have a few basic questions, and appreciate any help.

I’ve made a few BTC buys using USD (as a Taker), and would like to make a BTC sell offer to buy ETH. I set up an ETH account, but haven’t used it yet.

  1. Is the new ETH Altcoin address my public address?

  2. When I “CREATE NEW OFFER TO BUY ETH (SELL BTC), is the “Amount of BTC to sell” the equivalent value in ETH? I enter, say 0.01 in BTC, enter 0% eg, and the “amount of ETH to receive” field gets filled in.

  3. FUNDING THE OFFER: I need to deposit 0.016xxx BTC to fund the offer.

a. I can Transfer funds from my Bisq wallet. I see the Trade wallet address, but I don’t have an external wallet yet. Is that for a hardware wallet, eg?
b. It also says I don’t have a default BTC wallet yet. Where can I get one? Is that the same wallet as the built-in Bisq wallet I’ve been using?
c. Can I make this trade using just the Bisq wallet?
d. I don’t understand how to use the QR code in the right side of the “Fund your offer” window…? If that’s used to fund the trade, how do I use it since I only use a desktop.

  1. I don’t know what happens yet after I place the offer to sell BTC. When the offer is taken, is the ETH deposited into my Bisq account without needing to do anything else?

Thanks for your time.

  1. Yes, your ETH public address.
  2. Yes, a 0% deviation offer will use the exact Bisq price index for BTC/ETH.
    3.a No, external wallet is to use funds that are not on Bisq wallet yet.
    3.b You must use the built-in Bisq wallet if you already have funds. There’s no need to setup anything for that. I don’t know the “you don’t have a default BTC wallet yet” alert, I’d like to see a screenshot.
    3.c Yes if you have enough funds. You should just skip all the info popups and use the green button “transfer funds from Bisq wallet”.
    3.d The QR code would be used if you were using a mobile phone wallet to fund your Bisq wallet for that trade with an external (mobile phone) wallet. If you were using another wallet like electrum on your PC you could just copy the “Trade wallet address” and paste that into your electrum wallet at the “send” tab.
  3. You’ll need to keep your node running to keep the offer online. When it gets taken, the BTC buyer will send the ETH to the address that you have setup for this trade and click “payment sent”.
    Then you’ll have to look at your ETH wallet that the amount is correct and click the “payment received” button, releasing the trade amount to your peer and each security deposit to both of you.

Steps 3 and 4 videos of this page might help you. Getting Started ‹ Bisq - A decentralized bitcoin exchange network

Thanks for the info.