Sell BTC/Buy Altcoin. How to send BTC from the Bisq wallet to buyer?


#1

I’m about to make my first transaction and the only thing that I couldn’t figure out is how can I send the BTC from my bisq wallet to the buyer’s bitcoin address?
The only example from the “Getting Started…” section is to buy BTC using fiat. I imagine this must be a total newbie question, but I really have no idea where to find this and I would prefer not to set up a new bitcoin hot wallet just to make these payments.


#2

I assume you have already created an altcoin account that contains your altcoin address in the Bisq client? When you select the sell BTC/buy altcoin offer, Bisq will walk you through the trading steps, including the multisig address to send your BTC. Your trade partner will be notified, they will send the altcoin to the address you provided. Your BTC will be released to the buyer when you confirm the altcoin has arrived.

The Bisq client will provide the multisig address to send your funds and will release the BTC to your trading partner when you confirm you have received the altcoin.

I hope this answers your question?


#3

Indeed I already created the altcoin account. So this basically means I have to do nothing? When I confirm that his funds have arrived, the bisq platform will automatically send the bitcoins to him?
If so, does this apply to whether I make an offer to sell BTC or take an offer to buy Altcoin, regardless?


#4

Correct. Bisq will release the BTC to your trading partner when you confirm the altcoin has arrived.

It helps me to remember that Bisq only provides BTC escrow… so, that side of the trade will always be required to fund the multisig whether you are making or taking the trade.


#5

OK. Thank you very much for the help!


#6

Excuse my dopey newbie question: i have sent some BTC to my Bisq wallet (confirmed) and now I want to buy some BEAM. I presumed I can use the BTC in my wallet but when I go to try to make an offer to buy the BEAM, bisq says I haven’t set up a trading account yet. Does a ‘trading account’ mean a wallet address to receive the BEAM that I would be buying? Is this wallet external to bisq? Thanks in advance for help anybody!!!