Setting up Monero (XMR) Selling acccount. Asking me to send BTC now?


New user - love the concept.

So I managed to get to the point where I need to fund my offer.


If I am reading this correctly, it appears to be asking for BTC - not XMR. My Monero wallet is at

So can someone please let me now what I have done wrong? Just to clarify: It seems somewhat counter intuitive to have to transfer BTC in order to sell XMR. I have some XMR to sell but wasn’t planning on selling any BTC. I would give it a shot (i.e. transfer the BTC and see what happens) but not willing to pay a 6% BTC transaction fee (and then another 6% to get it back!) for the privilege :o)

Thanks in advance!

They don’t create a Monero wallet for you on the app, you need to use your own wallet to complete the trade. With that being said, that means you can’t “sell” Monero as well. If you are “selling Bitcoin” for monero, that means you essentially just want to buy Monero.

So in order to “sell Monero” you want to “Buy Bitcoin” with Monero.

looks like your trying to buy xmr from that screen? You want to sell? its the buy btc tab. you get btc for you xmr. (not your national currency)

Ok, thanks guys. I guess I’ll just wait until it’s possible to trade to fiat. My aim was to avoid losing money (BTC) due to the astronomical BTC fees.

Having looked a bit more at this platform, I now realise that the intention is not that the seller be anonymous to the buyer. That defeats the purpose of Monero for me. Too bad…
Anyway - pretty good concept. Just not for me, so good bye and good luck!

You can stay anonymous to the buyer if you are trading altcoins. It is only a problem when you are trading fiat, as the other trader sees your banking details. Since you are trading Monero, you can sell them for the BTC pretty anonymously I hope.

As for the fees, you can wait a bit, until the block size crisis gets resolved.

You need BTC for any trade to pay for the security deposit to make sure that you have something to lose if you don’t follow the protocol.

PS: Bitsquare doesn’t provide perfect privacy to the traders, but it is still a lot better at it then the centralized exchanges as your details just get revealed to the other random trader, for whom it would be costly to make or/and take a lot of offers in order to collect the bank details of the users.

Some good points there - thanks. When trading fiat to BTC (and vice versa) on, it is very high risk for the buyer. What makes it work, though, is the reputation/feedback system. Bitsquare apparently has decided to not go down that path (although there’s a blog post that talks about using an identifier through the tor address as a kind of substitute for a user name and the benefits that can be had from that).

It might go that path in the future. We’ll see. There is a lot of work right now with the DAO, but reputation system might be added in the future.