Hi!
Few days back one of my friend suggested me to try 'bitsquare' which is a decentralized crypto-currency exchange to buy/sell bitcoins. Initially I thought it will be a website like others but found that its an application you can either run on Linux or Windows. I installed the Win64 version and the first thing I noticed was that it created a TOR network to connect. I was impressed and excited to use this application now.
Other key points which I noticed while doing my first transaction to buy bitcoins:
- No ID verification required
- Less crowd using it so less offers for buy/sell
- First transaction to buy bitcoins can be max 0.75 BTC <This is when I used Bank Account to buy, I am not sure about other modes of payments>
- I had to add the bank account information and make a small security deposit (0.0112 BTC) before I accepted any offer which included fees for mining, trading & deposit.
- There are several methods of payment like OKPay, SEPA, Bank Transfer, Perfect Money, Swish, Alipay, Alt Coins.
- Decentralized arbitration system
- And don't forget its Open Source! :)
There are no servers to hack and all private data sent is encrypted. The exchange does not require registration or ID verification which makes identity theft impossible
I hope the usage of bitsquare will increase in future and it might become the best way to buy/sell/exchange/trade crypto-currencies. If you haven't used it yet, try it once and you might feel the difference.
Cheers! :)
References:
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