14 KiB
How to buy Bitcoin on Bisq Easy
Buying Bitcoin with Bisq Easy is recommended for small fiat amounts, or as a starting point if you still have no Bitcoin that you can use for the security deposits of other trade protocols.
You can opt for two ways to find a trading partner to get some Bitcoin: taking an existing offer or creating one.
Taking an existing offer (Buy)
Taking an existing offer is the fastest and simplest way to find a partner and start trading. Follow along to learn how to navigate to your preferred market and pick an existing offer in it.
Begin by opening up Bisq 2. Once the application has started, you should select ''Bisq Easy'' on the left panel, and ''Getting started'' on the top tab.
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On this page, click on the ''Start trade wizard''. This is the easiest way to get started. A small note: once you become more experienced, you might prefer to use the ''Offerbook'' page to do your trades. But for the first trades, we advice using the trade wizard.
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With this, you will enter the trade wizard, which will guide you step by step through the process of taking an existing offer to buy some Bitcoin. In the first screen, select ''Buy Bitcoin'' and click on ''Next''.
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In the following screen, you need to indicate which national currency you want to use to pay your trading partner. Since we want to use Euros for this trade, we select that currency in the list. Once you have selected your currency, click on ''Next'' to move on.
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On the next screen, you will have to select which Payment Methods are you willing to use. You should select at least one, but you can also select multiple of them. The more Payment Methods you add, the more chances you will have of finding a willing trade peer. In this example, we initially select ''SEPA'' and ''Revolut''.
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Once you are done selecting Payment Methods, you can move on by clicking ''Next''.
On the next screen, you will have to set how much Bitcoin you want to buy or, putting it the other way around, how much fiat currency you want to sell. The minimum and maximum amounts for Bisq Easy are 0.0001 BTC (or 10,000 sats) and 0.01 BTC (or 1,000,000 sats). You can write the fiat amount, the BTC amount, or simply move the slider around.
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For this example, let's imagine we would like to buy 150€ worth of Bitcoin. We set the value and click on ''Next'' to move on.
In the following screen, you will be presented a list of offers that match your needs. You can select any of the offers presented, but we advice taking the first offer. By default, offers will be presented by decreasing reputation, so the most trusted trades will be on the top of the list. You can check other offers that might have more interesting prices, but be aware that the lower the reputation of the trader, the higher the risk you will face. If you want to keep things safe and simple, simply pick the first offer that you see. Once you have settled for an offer, click on ''Next'' to move on.
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The final screen will allow you to review all the details. Make sure you are happy with all the details of the trade, since once you move on, you will effectively commit to doing the trade. If there's anything you want to change, you can always navigate back and modify any of the trade details. Once you are ready, click on ''Confirm trade''.
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Once you have done this, the offer is taken and you can begin the trade process. You can read more about the trade process here (LIIIIIIIIIIIIIIIINK).
Remember that when you take an offer, you commit to follow through. Be aware that, once you take it, you can't simply back down without consequences.
Note that there is also a chance that no offers are found matching your needs. If this is the case, you will see a screen like the one below. You can wait some time and try again later, or you can instead create your own offer. You can read more about creating an offer here (LIIIIIIIIIIIIIIIIIIINK)
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Creating a new offer (Buy)
Creating an offer is a great way to establish your own terms and simply wait for someone to match what you are after. It is also the right option if you don't find any offers with the right premium or payment methods in the market you want to trade in. Follow along to learn how to navigate to your preferred market and create a new offer in it:
Begin by opening up Bisq 2. Once the application has started, you should select ''Bisq Easy'' on the left panel, and ''Offerbook'' on the top tab.
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Each different national currency has its own market. You can click on the displayed pair to open a selector where you can choose the currency you would like to trade in. In this example, we are interested in buying some Bitcoin by paying with Euros, so we will select the ''BTC/EUR'' pair, but you should select whatever currency you are using. Afterward, click on the ''Create offer'' button on the right-hand side.
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You will now enter the offer creation wizard. The first step will be to choose between buying or selling Bitcoin. Select ''Buy Bitcoin'' and click on ''Next''.
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On the following screen, you will be asked for confirmation on which currency you want to pay your Bitcoin with. The selected currency will be the one you selected in the previous ''Offerbook'' screen. You can change your mind here if needed. Since for this example we want to move forward with Euros, we don't need to change anything on this screen, and we can simply click ''Next''.
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On the next screen, you will have to select which Payment Methods are you willing to use. You should select at least one, but you can also select multiple of them. The more Payment Methods you add, the more chances you will have of finding a willing trade peer. In this example, we initially select ''SEPA'' and ''Revolut''.
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Besides the presented Payment Methods, you can also add customized Payment Methods to your offer. For instance, for this offer, I would be happy to make a cash deposit at a Rabobank physical branch. I can use the bottom input to add this method to my offer.
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Once you are done selecting Payment Methods, you can move on by clicking ''Next''.
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On the next screen, you will have to set how much Bitcoin you want to buy or, putting it the other way around, how much fiat currency you want to sell. The minimum and maximum amounts for Bisq Easy are 0.0001 BTC (or 10,000 sats) and 0.01 BTC (or 1,000,000 sats). You can write the fiat amount, the BTC amount, or simply move the slider around.
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You also have the option of defining a range instead of a fixed value for the trade amount. By doing that, you set a minimum and maximum amount, and you signal to the market that you are willing to trade any amount between those two numbers. For this example, we will create an offer with a range between 100€ and 200€. Once you have set your fixed value or a range, click ''Next'' to move on.
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With this, you will reach the final step of the offer creation wizard. The final screen shows a summary of all the details you have defined. Now is the time for you to review whether everything is fine. This is important because, once you click on ''Create offer'', the offer will be available for anyone to take and, once that happens, it will be binding. So, make sure you are happy with the details you see. Once you are sure, click on ''Create offer'' and your offer will be added to the market.
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Your order is finally ready. Now, you will have to wait until another peer takes it. If your offer remains unpicked for longer than you would like to, consider modifying it to add additional payment methods or adding a more flexible range of values that could attract different users.
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Once a peer takes your offer, you will receive a notification and be able to see the started trade in the ''Open Trades'' panel of Bisq Easy. Also, keep in mind that offers remain open until you close them. If you only want to transact once, you should close it after it gets taken, or more peers could keep taking it!
Creating a new offer (Sell)
Creating an offer is a great way to establish your own terms and simply wait for someone to match what you are after. It is also the right option if you don't find any offers with the right premium or payment methods in the market you want to trade in. Follow along to learn how to navigate to your preferred market and create a new offer in it:
Begin by opening up Bisq 2. Once the application has started, you should select ''Bisq Easy'' on the left panel, and ''Offerbook'' on the top tab.
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Each different national currency has its own market. You can click on the displayed pair to open a selector where you can choose the currency you would like to trade in. In this example, we are interested in selling some Bitcoin and receiving Euros, so we will select the ''BTC/EUR'' pair, but you should select whatever currency you are using. Afterward, click on the ''Create offer'' button on the right-hand side.
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You will now enter the offer creation wizard. The first step will be to choose between buying or selling Bitcoin. Select ''Sell Bitcoin''''(if you currently have no reputation, you will receive an informative warning. It's probably wise for you to learn about how reputation works in Bisq Easy. You can read more about it in this section of the wiki: (LIIIIIIIIIIINK))''. To move on with creating your offer, click on ''Next''.
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On the following screen, you will be asked for confirmation on which currency you want to use to receive your payment. The selected currency will be the one you selected in the previous ''Offerbook'' screen. You can change your mind here if needed. Since for this example we want to move forward with Euros, we don't need to change anything on this screen, and we can simply click ''Next''.
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The next screen will allow you to set at which price do you want to sell your Bitcoin. Here you have two options: setting a percentage price or a fixed price. By default, you can set your price as a % over the normal market price. So, for example, if you set a percentage price of 10%, and Bitcoin is currently trading at 10,000 €/BTC, your selling price would be 11,000 €/BTC. You can also set negative percentages: if you set the price at -10%, the price would be 9,000 €/BTC. A percentage price of 0% indicates you are happy to sell at the current market price. The price will get updated in real-time as the market price of Bitcoin moves, so you don't have to worry for sudden changes in the market leaving your offer in a bad position.
Your other option is to set a fixed price. This allows you to set an exact price that won't change under any circumstance. You can alternate between the two options with the small arrows icon on the right side.
For this guide, we will set a percentage price of 5% for the offer. Once you are happy with the price, click on ''Next'' to continue.
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On the next screen, you will have to select which Payment Methods are you willing to use. You should select at least one, but you can also select multiple of them. The more Payment Methods you add, the more chances you will have of finding a willing trade peer. In this example, we initially select ''SEPA'' and ''Revolut''.
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Besides the presented Payment Methods, you can also add customized Payment Methods to your offer. For instance, for this offer, I would be happy to receive a cash deposit at a Rabobank physical branch. I can use the bottom input to add this method to my offer.
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Once you are done selecting Payment Methods, you can move on by clicking ''Next''.
On the next screen, you will have to set how much Bitcoin you want to sell or, putting it the other way around, how much fiat currency you want to buy. The minimum and maximum amounts for Bisq Easy are 0.0001 BTC (or 10,000 sats) and 0.01 BTC (or 1,000,000 sats). You can write the fiat amount, the BTC amount, or simply move the slider around.
!
You also have the option of defining a range instead of a fixed value for the trade amount. By doing that, you set a minimum and maximum amount, and you signal to the market that you are willing to trade any amount between those two numbers. For this example, we will create an offer with a range between 100€ and 200€. Once you have set your fixed value or a range, click ''Next'' to move on.
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With this, you will reach the final step of the offer creation wizard. The final screen shows a summary of all the details you have defined. Now is the time for you to review whether everything is fine. This is important because, once you click on ''Create offer'', the offer will be available for anyone to take and, once that happens, it will be binding. So, make sure you are happy with the details you see. Once you are sure, click on ''Create offer'' and your offer will be added to the market.
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Your order is finally ready. Now, you will have to wait until another peer takes it. If your offer remains unpicked for longer than you would like to, consider modifying it to add additional payment methods or adding a more flexible range of values that could attract different users.
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Once a peer takes your offer, you will receive a notification and be able to see the started trade in the ''Open Trades'' panel of Bisq Easy. Also, keep in mind that offers remain open until you close them. If you only want to transact once, you should close it after it gets taken, or more peers could keep taking it!