0

I sometimes look at the market price for 1 Bitcoin and think it's low. Then I look at the (SEPA, EUR) offers to buy Bitcoin on Bisq. The best ones are a thousand USD over the market price. It feels really bad to take such offers, but I have no other choice, so I always end up doing so.

Is this just because so few people use Bisq? Do centralized marketplaces always let you buy at (basically) the exact market place?

1

It's a combination of the low trade volume, and also because the traders on Bisq know that some people will pay a premium in order to avoid having to complete KYC requirements to do their trades.

If you signed up for an centralized exchange, you'll be able to buy at the market rate (minus a fee), but the trade-off is having to complete KYC requirements.

2
  • Yeah... that "trade-off" is a critical showstopper, which is the reason I use Bisq to begin with. If the centralized exchanges allowed me to use them, I would be enjoying their low prices and automation. – M Rary Jan 26 at 18:26
  • @MRary Yeah, but then unfortunately the marked up rate on Bisq is the premium you pay in exchange for having no KYC. The centralized exchanges have no choice. If they don't implement KYC then they will lose their financial services license and their banks will close their accounts. If you are not in a rush to trade, you could also post your own offers and set your own rates. – ieatpizza Jan 26 at 18:42

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.