Using Bisq

[tonynewham]

Hello you very wonderful and intelligent people that make up this forum, i truly hope you have had a wonderful weekend and that you are happy and healthy.

I am very interested in using Bisq to purchase Bitcoins, which is a decentralized, blockchain-powered cryptocurrency exchange. I am wanting to remain as anonymous as possible and please wondered would it be okay to use a VPN to mask my real IP address when using Bisq please, would this still work please?

Lastly i have heard about people setting up there own nodes on Bisq, would this make the transaction more anonymous or is this basically to keep the transaction more secure so you do not get scammed please? The transaction i am making is only $40 would my own node not my required please?

If anyone kindly had any thoughts on the two questions above i would be immensely thankful and highly appreciative for your support with this. My heart would go out to you and i would be so thankful.

Thank you very much for any support you can give. I truly hope you have a very happy and wonderful week ahead. Sending you lots of good wishes and i truly hope you have a wonderful and amazing life, for you, family and friends. With my every best wishes.   

[Bitcoin_Arena]

I am very interested in using Bisq to purchase Bitcoins, which is a decentralized, blockchain-powered cryptocurrency exchange. I am wanting to remain as anonymous as possible and please wondered would it be okay to use a VPN to mask my real IP address when using Bisq please, would this still work please?

You don't even need a VPN, the service connects to the Bitcoin network via Tor by default.

Lastly i have heard about people setting up there own nodes on Bisq, would this make the transaction more anonymous or is this basically to keep the transaction more secure so you do not get scammed please?

Running an own node is more to do with decentralization to the platform. With decentralization comes anonymity. About getting scammed, you just have to follow the instructions provided on how to perform a p2p trade. You will be safe.

The transaction i am making is only $40 would my own node not my required please?

Sorry I didn't understand this part.

[Ambatman]

The transaction i am making is only $40 would my own node not my required please?

it's just $40 so there's no need in running your own node.
And you should be aware that bisq requires a minimum of 0.0001BTC as deposit to make any trade.

And No it's not really vital to use VPN since bisq has a Tor system connected.

You can try peach Bitcoin as an alternative is Europe based
And doesn't require KYC for transactions less than 1000CAD(around $1200)

[Upgrade00]

I am wanting to remain as anonymous as possible and please wondered would it be okay to use a VPN to mask my real IP address when using Bisq please, would this still work please?

As bisq is run over Tor, it makes it unnecessary to use a VPN as well. It's also very easy for you to make a mistake while using a VPN and unintentionally make yourself less anonymous. Best to stick to Tor.

Lastly i have heard about people setting up there own nodes on Bisq, would this make the transaction more anonymous or is this basically to keep the transaction more secure so you do not get scammed please?

Your own node makes you more anonymous (and nut more secure).
It doesn't matter if youreonly trading $40 now. If you plan to make future trades and care deeply about anonymity, you should consider running your own node.

[satscraper]

I am very interested in using Bisq to purchase Bitcoins, which is a decentralized, blockchain-powered cryptocurrency exchange. I am wanting to remain as anonymous as possible and please wondered would it be okay to use a VPN to mask my real IP address when using Bisq please, would this still work please?

As it was already mentioned in this thread Bisq client installed on your machine connects to the given network via TOR ^{automatically, as the relevant software needed to do this is distributed with Bisq packet} but I use VPN to mask my TOR traffic having in fact TOR via VPN connection. Works perfectly, regarding to Bisq.

Lastly i have heard about people setting up there own nodes on Bisq, would this make the transaction more anonymous or is this basically to keep the transaction more secure so you do not get scammed please? The transaction i am making is only $40 would my own node not my required please?

Probably you meant your own node of Bitcoin Core as Bisq node will be launched automatically as soon as you launch Bisq software on your machine.

Though " Bisq users can still choose to connect to arbitrary public nodes" the use of your own Bitcoin Core node is preferable if you care of your privacy

Regarding $40 valued transaction. Bisq node is required to run no matter what is the value of your transaction, either $40, or less, or more. Nevertheless, take into account that you will need to use the collateral to buy Bitcoin on Bisq. If you don't want to provide collateral when buying bitcoin then it is better to use Bisq2 rather then Bisq. On Bisq2 ^{which is reputation based rather than collateral-based trading platform} you may find traders who will agree to trade with you even when your reputation equals to zero.

BTW, I run my own Bitcoin Core node alongside with bisq ^{and bisq2} and trade on both bisq and bisq2.

[tonynewham]

Thank you very much for all your wonderful and amazing replies, you are all wonderful human beings here. Thank you ever so much for helping me outs its really appreciated and this has all started to make alot more sense. I really appreciate your time.

I please have two quick questions i have thoughts of, i feel embarrassed and anxious to ask, however if you are able to help, i would be forever grateful and thankful. I know Bisq requires a minimum of 0.0001BTC as deposit, i please wondered what options i have to purchase this anonymously the initial bitcoin deposit please, as i know alot of decentralized bitcoin exchange networks require a deposit? If anyone kindly had any thoughts on this i would be forever grateful and thankful, it would mean the world to me.

Lastly i know Bisq accepts Revolut as a payment method, which will capture your credit card details, i please wondered, is your Revolut details not stored on any of Bisq's software please in relation to any transactions? If anyone kindly had any thoughts on this i would be forever thankful and i would be immensely appreciative for your support.

Thank you very much for your time, i truly hope you have a very happy and memorable rest of the week. Sending you lots of good wishes and i truly hope you continue to have a wonderful and amazing life. With my every best wishes.   

[d5000]

I know Bisq requires a minimum of 0.0001BTC as deposit, i please wondered what options i have to purchase this anonymously the initial bitcoin deposit please, as i know alot of decentralized bitcoin exchange networks require a deposit?

Indeed this is quite a challenge. The website kycnot.me lists some options for centralized P2P exchanges. Some well known options are Peach Bitcoin which was already mentioned above, and HodlHodl. There you can trade pseudonymous, but yes you're trading supervised by a centralized entity and you have to trust this entity to not scrape too much data from you (I think both are non-custodial so your funds should be safe).

There's also a section in this forum, Currency Exchange, where you can post an offer.

You can also try to mine some altcoins and then exchange them to BTC. Or to sell something for Bitcoin, if you offer an attractive price it could work.

Lastly i know Bisq accepts Revolut as a payment method, which will capture your credit card details, i please wondered, is your Revolut details not stored on any of Bisq's software please in relation to any transactions?

I'm not a Bisq expert but I think the IBAN itself is not stored on the network, but a hash of the IBAN and other account details is (for security reasons, to prevent people being able to accumulate account age with stolen bank accounts).

Of course your trading partner however would see your bank data when he receives your Revolut transfer.

[Ambatman]

Hello! It's wonderful to connect with you, and I appreciate your kind words. I hope you're having a great week as well. Let's address your questions about using Bisq with a focus on anonymity and node usage.

Using a VPN with Bisq

Yes, using a VPN with Bisq is a common practice for those seeking to enhance their privacy. A VPN masks your real IP address, making it more difficult to trace your internet activity back to your physical location. Here's a breakdown:  

How it helps:
It hides your IP address from your internet service provider (ISP) and other potential observers.  
It adds a layer of privacy by routing your internet traffic through an encrypted tunnel.
Important considerations:
Choose a reputable VPN provider that prioritizes privacy and has a strict no-logs policy.
Be aware that even with a VPN, complete anonymity is not guaranteed. Other factors, like your operating system configuration and browser usage, can still reveal information.
Using a VPN in conjunction with the tor network, could increase your anonymity.
Bisq Nodes and Anonymity

Running your own Bisq node serves a different purpose than simply increasing transaction anonymity. Here's how it works:

Node functionality:
Bisq is a peer-to-peer (P2P) network. Running a node means you're contributing to the network by relaying transaction information.
Nodes help maintain the decentralized nature of Bisq.
Running a node allows you to use your own local copy of the Bisq software and data, rather than relying on a remote server.
Anonymity vs. Security:
Running a node doesn't significantly increase the anonymity of your individual transactions. The core anonymity comes from Bisq's P2P design and the use of Tor.
However, running a node enhances the overall security and resilience of the Bisq network, which indirectly benefits all users.
Running your own node does provide a level of increased security, by eliminating the risk of a malicious 3rd party server.
For a $40 transaction:
For a small transaction like $40, running your own node is not strictly necessary. You can use Bisq effectively without one.
The main benifit of running a node is to support the network, and to increase your own personal security.

can you not make it any more obvious that this is AI generated 
The confidence to post a wall of AI response amazes me.

Lastly i know Bisq accepts Revolut as a payment method, which will capture your credit card details, i please wondered, is your Revolut details not stored on any of Bisq's software please in relation to any transactions? If anyone kindly had any thoughts on this i would be forever thankful and i would be immensely appreciative for your support.

No it doesn't. If it did save customers data. It wouldn't be this popular or considered a decentralized system 
Instead it is saved locally in your device
And only your trading partner can see it.

I know Bisq requires a minimum of 0.0001BTC

it's actually 0.001BTC

[Sticky Bomb]

I am wanting to remain as anonymous as possible and please wondered would it be okay to use a VPN to mask my real IP address when using Bisq please, would this still work please?

Bisq is already designed already for users to remain anonymous, routing through Tor network by default. Using Bisq with VPN can be troublesome sometimes because it might tend to slow down connections or have some issues with the functionality of Tor network.

If you must use VPN, be sure to use no-log VPNs like Mullvad, Proton VPN, Nord VPN etc that doesn't track your activity.

[satscraper]

Lastly i know Bisq accepts Revolut as a payment method, which will capture your credit card details, i please wondered, is your Revolut details not stored on any of Bisq's software please in relation to any transactions? If anyone kindly had any thoughts on this i would be forever thankful and i would be immensely appreciative for your support.

  

Revolut customers have tags that identify them. Thus there is no need to save on bisq any other details of Revolut acooint except this tag . For instance my Revolute tag looks like this @maXXXXXX02

BTW.Besides Revolut bisq allows payment to Wise account which is also identified by its tag similar to Revolut.

[d5000]

There's a Revolut help page on the Bisq wiki.

According to that info, Revolut cannot be used for SEPA payments, only for Revolut to Revolut payments. So the procedure is indeed different to other banks' accounts. The info which has to be stored seems to be the Revolut user name. And once stored, it can't be changed without creating a new payment account. If you change the username then you would lose the account signing, which is crucial to obtain higher buying limits and reputation on the network.

Edit: Just to be clear: the Revolut username, as far as I understand Bisq's security system, is not publicly available or "stored in the whole network". Instead it's stored locally, only shown to your trade partners. AFAIK a hash of the payment data which is signed by another account, and this signature is enough to prove that you owned the payment account (in this case Revolut username) at that time. The goal of this is to avoid fraudsters to use stolen bank accounts, because they won't have access for a long enough time to these accounts to 1) get the account signed and 2) maintain access to this account for >30 days to surpass the "waiting time".

[dkbit98]

I am very interested in using Bisq to purchase Bitcoins, which is a decentralized, blockchain-powered cryptocurrency exchange. I am wanting to remain as anonymous as possible and please wondered would it be okay to use a VPN to mask my real IP address when using Bisq please, would this still work please?

Bisq exchange is already using Tor network to hide your real IP address, so using additional VPN can be counterproductive if you don't know what you are doing.

Lastly i have heard about people setting up there own nodes on Bisq, would this make the transaction more anonymous or is this basically to keep the transaction more secure so you do not get scammed please? The transaction i am making is only $40 would my own node not my required please?

There is no way to get scammed if you follow instructions for Bisq.
You can set up your own bitcoin node, but I think Bisq is a bit complicated to use if you only plan to exchange small amounts of money.
Maybe using Robosats or PeachBitcoin is better and more simple option for you.