In this short guide, we'll explore the new features and purchasing Bitcoin using Bisq2 and Lightning. After nearly three years of development, Bisq2 introduces support for the Lightning as an additional Bitcoin settlement method.
https://m.stacker.news/48452
⚡ Getting Started
To begin, download Bisq2 from the download page. It's recommended to verify the download with the PGP Key. After installation, create a public profile consisting of a nickname and bot icon. With Bisq2, you can also create multiple user profiles within one client.
💻 Dashboard
Navigate to the Dashboard section on the left side, where you'll find various options for trading protocols (on the roadmap), learning resources, and communication channels.
Bisq Easy
Within this release, you can enter
Bisq Easy. This feature provides a simple wizard-like interface and chat-based interactions. No account setup is required, and there are no trading fees or deposits. Buyers don't need Bitcoin to trade, and security relies on the seller's reputation.The Bisq Easy guide contains a short trading tutorial or video. To start, you can select the wizard option or jump directly into the offer book.
Buying BTC with Bisq2 & Lightning
In the
offerbook section, select options for payment methods, amount, and price range. Unlike Bisq1 or Robosats, which required collateral, Bisq Easy relies solely on seller reputation for security. While this approach allows buyers to purchase their first Bitcoin without any prior ownership, it relies heavily on trust in the seller's ability to deliver Bitcoin after receiving fiat payments.In the next steps you select the amount and specify the payment and settlement method you want to use. Of course we select the Lightning ⚡ option here.
Review and confirm the trade details. In the
Open Trades section, provide a Lightning invoice to the seller. Greet 👋 the seller and wait for them to come online with payment information.Once you've received the necessary payment details from the seller, proceed with completing the payment. Afterward, click on the
Confirm you made the payment button, then patiently await confirmation of receipt. ️ ⌛️Finally, when the seller confirms payment receipt, you must also
confirm receipt of the Bitcoin. This completes the purchase using Bisq2 & Lightning Network in Easy Mode. 🤙Congratulations!
🎯 Conclusion
Bisq2 launched a new version of its P2P exchange with a plethora of learning resources and fixes to the collateral requirement for purchasing Bitcoin. The latest release v2.1.0 introduced support for the Lightning Network as an additional Bitcoin settlement method, further enhancing the platform's capabilities.
The roadmap showcases many new payment protocols catering to various use cases. However, there are areas for improvement:
- Implementing filters or preferences for selecting desired payment or settlement types within the offer book section would be great and improve the UX, at least I haven't found any.
- Addressing the risk associated with no collateral in Easy Mode by solely relying on reputation
Overall, Bisq2 continues to evolve and improve its offerings for buying P2P Bitcoin via Lightning Network.
Note: There is also a great AMA from @solomon1923 on stacker.news available