Bisq: Bitcoin P2P with No KYC

Bisq: Bitcoin P2P with No KYC

By Novasky | DevPress | 6 Aug 2024


Every exchange out there has been hit with the regulation and the KYC. And it has become harder to bypass the taxes. And some of the really difficult choices comes  in when you want to get the funds through the peer to peer. That has met many people with the scam and the issues that are about to happen as well. Bisq is one app out there that would allow the P2P where as there is no KYC to be done. 

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First thing here is that you do download the setup for the BISQ as per your operating system. And set it up. And after that add the respective FIAT currency so that others can see which you are going to exchange. Here the P2P happens like biannce or the HTX where no middle men but only you two doing the exchange. And no KYC in the process. However only funds released once the confirmation comes in for the funds from the party. 

I am kind of sceptical of the p2p as there are many loopholes and the issues that are coming out lately. Hopefully things improve on scam end. 

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They also have the people who support the technical side on the Nostr. So you can always connect by DM. You can find them on Nostr here. Now that they are kind of legit and trustable you can give the software a try. 

P2P is harder to trust because people on the other end being strangers. I feel that it can get difficult with the way P2P market is flooded with scams but we can hope this software can help build the trust on the transactions and build on the people trust and get the Lightning network to do most transfers and small amount specific trust in this software app. 

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Novasky
Novasky

Crypto Blogger and Open Source Developer.


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