SImple (?) Question: Any Coin direct via SEPA?

Payment methods
1

Dear Bisquers (Bisquits?),

Maybe I’m missing something, but:
WHY is it not possible (at least it seems to me) to DIRECTLY take offers for buying any non-BTC-coin (e.g. PIVX) via SEPA or another method?
Why is it necessary to first send Bitcoins before one can trade?
Makes no sense to me, maybe somebody has a convincing explanation?
Or am I completely wrong??

Best Regards & keep up the good work

6zh

2

You can trade directly with fiat only the currencies Bisq support as base market. These are currently BTC, LTC and DASH. The reason for this is technical; difficulty of implementation and existing java code libraries.

You cannot trade other currencies for fiat since coins involved in the trade have to be locked in an escrow/multisig address. This requires interacting with the coins blockchain directly, which is not so easy with most coins (or just a huge amount of work).

I guess it would be possible somehow to put up BTC as security for a fiat/altcoin trade. I am sure the devs have explored this possibility, but for the time being this is not supported. As far as I know its also not a planned feature.

1 Like
3

Thanks for your reply! This is understandable, but a pity nevertheless, since this feature would be essential for my favourite “one-in-all” dex.
best, 6zh
(ps.: and also the ability to hide fiat account numbers, deposits&transactions from anybody on the network, maybe via zk-snarks or similar zero knowledge proofs?)

4

Nobody sees your fiat account number other then the other trader, as that is necessary so he can send you the payment or confirm that you sent it in case he is the seller.
As for transactions, they are all on the blockchain and Bitcoin doesn’t support confidential transactions.

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Yes I know, but I was thinking about something like a decentralized anonymous “mixing service” for fiat accounts. not really feasible at the moment, is it?

6

Idea like that would have to be very well researched. All the pros and cons listed. Perhaps it would increase certain types of scams on Bisq. If you can think of something specific, you can add it as a proposal and it could be reviewed and discussed. :slight_smile: