[bisq-network/bisq] Disallow Transferwise from SEPA markets (#4698)

viperperidot notifications at github.com
Wed Oct 28 02:48:12 UTC 2020


I totally agree with @pazza83, for people who live in countries where their local markets are very non-liquid Transferwise allows them to access the best markets offered on Bisq, making it a viable platform for them to trade with. A lot of users who are on the fence about adopting P2P trading platforms will not want to wait days to get an order filled or pay very high premiums on their local markets, so services like Transferwise should drive Bisq adoption. Ideally all local markets will be liquid and we will get their one day but that's not the case right now. 

I have had successful trades where only 1 party is using Transferwise, I think the key to making things smoother is using their new feature called 'Multi-currency account'. This is where you actually set up a real bank account in the country of your choice and get assigned personalized banking details, it is different than their original model where you just sent money. Because it is a new feature I think not many people know about it yet, here is a link for more details: https://transferwise.com/multi-currency-account/

I believe this method requires stricter KYC to register, which probably makes transfers go smoother after the fact. That and the fact that you are actually adding money into your own bank account and sending from there to your Bisq peer rather than the money coming from a Transferwise account.

I can volunteer to create a Wiki post about setting up this type of account if people think that would be useful.

-- 
You are receiving this because you are subscribed to this thread.
Reply to this email directly or view it on GitHub:
https://github.com/bisq-network/bisq/issues/4698#issuecomment-717660510
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.bisq.network/pipermail/bisq-github/attachments/20201027/df78b481/attachment-0001.html>


More information about the bisq-github mailing list