Programmatically send payments

Support
#1

Hi I’m new to bisq and I’m trying to figure out if it’s a good fit to what I need.

I wish to programmatically convert some monero from my monero wallet to USD and then send the USD to bank accounts. I would also like to programmatically convert some monero to BTC and send the BTC to different wallets.

Is this something that can be achieved with bisq?

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#2

APIs should allow this, which are not developed yet, but is definitely on the road map, so stand tuned for the newer versions when Bisq implements it.

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#3

API is developed, watch the forum for an announcement in the coming days (just waiting for the PR to get merged)

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#4

If it’s not a secret- would the API that you are about to announce provide the functionality I described in the question?

#5

I believe that was the point of an API. That you can make trading automatic. So your question should fit just as a normal trade in Bisq.

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#6

So trading XMR for USD would be possible. But what about sending the resulting USD to different bank accounts via the API.

In other exchanges in order to send USD I must prove that a bank account is mine and that I’m a resident of the assosiated country.

Would Bisq API allow me to trade 1 XMR to 80 USD and then send 4 payments of 20 USD to 4 different bank accounts that are unrelated to me?

#7

Bisq doesn’t deal with USD or any other national currencies. Only traders do that and arbitrators check the proof in case of a dispute. As for the software itself, it doesn’t know where the money is and especially how to use it.

Sending of fiat will have to be handled either by you manually or by some other software, like an API of your online bank or something like that. Bisq doesn’t deal with fiat, nor even altcoins in most cases, just Bitcoin. It is a software that connects traders and handles all the special transactions needed to do a safe trade with help of an arbitrator if necessary.

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#8

Bisq doesn’t deal with USD or any other national currencies?

From Bisq website: “Bisq is an open-source desktop application that allows you to buy and sell bitcoins in exchange for national currencies, or alternative crypto currencies.”

#9

Hi,

  • the trading api can indeed be used to automate trading of any currency pair - in theory
  • Bisq does not deal directly with fiat payments. There are 100’s of banks in the world, most of which don’t even have an api themselves. Bisq only orchestrates the interaction with those banks, but fiat payments have to be done manually.
  • If someone develops software which can read the transactions in your bank account (for instance, fidor bank has an api) you could use that software in combination with the trading api to automate fiat/crypto trades.
#10

Correct if I’m wrong:
API would create and maybe take orders automatically, but to proceed to complete them once accepted at least on fiat/crypto markets, you’d have to do it yourself.

#11

You can also the API to ‘push the button’ to indicate you’ve received the money.

  • For crypto to crypto, you can easily automate this by querying a block explorer to see if the crypto payment has arrived on your address
  • For crypto to fiat, as Bisq doesn’t know the state of your bank account, the decision to either ‘push the button’ or not has to be done by a human for now. On the other hand, someone with a bank account which provides an API (fidor germany) could probably even automate the crypto to fiat trades.
#12

Emphasis on the “allows” you part. It doesn’t do it for you, it just deals with all the other things so you can trade safely. All you have to do is confirm the payment or send the payment, the rest Bisq does for you.