[bisq-network/bisq] New user account model (#5339)

[sqrrm]

The current model for new high risk accounts (fiat accounts with charge back risk) is to impose a limit of approx. USD100 for buying BTC until the accounts has been signed. This is meant to prevent scammers from cashing out stolen bank accounts in an effective manner. A limit higher than USD100 has shown to be used by scammers.

The current system with signed accounts is a tree of signed accounts where signed sellers can sign unsigned buyers if they complete a trade. Trading with a signed account allows users to know that the account has traded on Bisq previously which gives a level of confidence that it's not a scammer.

The cost to start trading larger amounts on Bisq is to make one low value trade to prove that the account is not a newly stolen account. Bad actors can still use their own accounts but would likely not be able to continue for long if they don't follow the rules of their bank.

This is the model we have been on for the last couple of years and it has worked rather well. It's now bumping into some limits with mining fees being high and BTC price rising. Perhaps there are some other ideas out there on how we could improve the onboarding experience.

-- 
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/discussions/5339
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.bisq.network/pipermail/bisq-github/attachments/20210321/7bace4a4/attachment.htm>