Trade limits on bitsquare


#1

Hello i am new on bitsquare,

i like the concept very much and i want start to work with bitsquare.
what i like especially is that i can add accounts with altcoins and store them all together on my bitsquare account.

altcoins : what means "Max trade Duration: 1 day / Max trade Limit : 3 BTC ??
I dont see where to trade altcoins and i dont understand how to fund altcoins on my bitsquare-account

please help


#2

I think you got it wrong. You don’t have an account on bitsquare with money on it, for fiat this is obviously impossible on a decentralized system, and for altcoins it would require more programming to add support for every wallet out there. Instead adding new altcoins is simple, as only thing required to add is code to verify that address is valid (correct length and characters), so altcoins add them selfs via a pull request and a forum post.
You fund each trade individually only with bitcoin. Altcoins or fiat you send directly to other trader.
As for the limits, they are there for everybody to discourage fraud or increase performance in some way. I am not sure about trade duration, but I presume it is to stop people from locking their funds for too long or stop overflowing the system with never ending trades. The limit on the amount is there to discourage bad traders trying to cheat the system as it is just not worth it. Trade limit on the amount is also useful to minimize the damage if it turns out that there is some problem with the software or perhaps even other factors as well. Keep in mind that these trades might rise in the future.


#3

Hello Alex,

ok, got it… thanx for your Information. So, its only a account for BTC
I like the concept and i hope it will be more development in the future
appriciate your time
Kind regards
saba


#4

Hello Алексей 996-й,
I also new bisq/biscuit and also have a “Max. trade limit”, but my is 0.0625 BTC…?? How can I get at least 3 BTC? like saba?


#5

Hi :slight_smile:

I don’t think you can get a limit as high as 3 BTC for a trade, at least not for fiat trades, I think.
But trade limits double 30 days after account creation and then double again 30 days after that.

You can always do multiple trades of course, these trade limits are only for a single trade, you can do as many as you want.