No matter how decentralized the exchanges are, I consider trading P2P the best option we have.
There is a P2P option in some centralized exchanges, but they ask there for KYC to trade. I know that there are decentralized exchanges let people trade without asking for personal data. One of those exchanges is bisq.network.
So, after downloading the application and installing it, when opening it, it connects to Tor network for anonymity. Then it creates a node on Tor. And then it publishes hidden services. So, your connection will be totally anonymous. That make you to not be worry about somebody tracking you. And of course it depends on the currency you trade. Because while watching a video about bisq, I heard the guy saying, it's better to not send the currency from a centralized exchange where you already shared your personal data, but it's better to send that from the wallet you use to hold your crypto. In case the wallet is not asking for KYC of course.
In case you'll have a message like that. That means you'll have to set up the tor settings. That could happen if tor is blocked by your internet provider.
In this case, you'll have something like that. Choose ''Connect with provided bridges''. And click on ''close''.
Give it some time and the application will be ready to go !
The first thing you'll need to do, of course to secure your application and funds. For that save your wallet seed and set up a password. You can also create a backup in case you lost the seed and the password.
You can also check the market there. From what I understand every exchange has its own market. I mean it's not always the same that we see in coinmarketcap or other resources. And the interesting chart with bisq, is that we see the big picture with bitcoin. So, it's clear that the price went to the top twice, and now it's stable. So, from the chart I can say that we may see another top of bitcoin.
Also, you'll have to create an account. You can do with your local currency, but it's better of course to choose the altcoin you like.
Then you can start trading. In case you want to buy bitcoin, you can create a new offer.
The thing you have to know about the offer, is that you will have to assure that you're someone trustful and that you will not scam the other part. For that, you'll have to deposit at least 15% of the amount traded, that's called ''trader's security deposit''. The same amount will be deposited by the other trader who trade with you. So, in case you deposit 50%, he/she will deposit the same amount as well. That's in case any issue happen between you both. Also, they give the privilege to those who already traded there, so their offer will be done at the first place. But even those who never traded, can create an offer, but they will have to wait for some time. For example, me when I traded yesterday monero to buy bitcoin, I had to wait for someone to accept my trade only about a few hours.
*The same about selling bitcoin. You'll have to create an offer in the tap "sell bitcoin.''
And the cool thing, that it gives you the best price of the market, and you can decide with what price to sell or to buy, just by setting the below, or above the market %. So, in case you don't want only to buy or sell, but to trade, it's possible to do.
In your portfolio you see your created offers and the history of transactions. In fund, you see all crypto or money you own.
Bisq also has its own currency that's called BSQ. It cost now about 3k satoshies. You can trade with it as well if you want. And they have DAO also. So, you can participate in the governance by creating proposals. Here I'm not strong to advise anything, because the goal from this post is to show how it's possible to trade p2p without any intermediate or sharing your personal data. So, in fact the offer you create is like a smart contract assured by an open source application. You can check bisq github page here !.
I hope this will be useful to those who want to trade p2p.
My wallets adresses :
BTC : 3MsMMPLo1tfFoK2cweew3nksQDRDhQazLz
ETH : 0xAcfde51498E93905eea97326e297F923915AB7e8
BCH : qrku8p5d9pus2rjmye4mxxvxcwwxqrzpw52lysf3hx
smartBCH : 0xAcfde51498E93905eea97326e297F923915AB7e8
