Bisq Decentralized Crypto Exchange Instead of Coinbase?

I’m usually a very positive person, but I’m really frustrated with Coinbase. I can’t go into details, but I have a very simple issue that takes literally 30 seconds for them to fix, but this issue is blocking me from accessing my account. They keep telling me “A specialist will contact you as soon as possible.” Weeks pass. . . .

Then today phone support says “We don’t have access to any account information. Only our specialists can see your account details. . . .” This is also preventing me from accessing my GDAX account because they’re both controlled by Coinbase. So as I lose thousands of dollars in lost crypto value. . . . I wait . . . and wait . . and wait. . . .

This is like dealing with a huge government bureaucracy! So today I’ve opened an account with Gemini and I intend to use them since they will probably be more responsive after their ID verification process is complete. But. . .

This whole ordeal is infuriating not only because I’m losing thousands from frozen crypto; it’s infuriating because the entire purpose of cryptocurrencies is to decentralize the financial system, but we are now getting the exact opposite: Hyper-centralization into two dominant companies (Coinbase and Gemini). I wouldn’t be surprised if at some point the government pressures Coinbase to make our lives so miserable that we just give up on trying to use cryptos. Of course I will never give up, but. . . .

It seems like the solution to this problem is to support as many decentralized exchanges as possible. I know Cardano is working toward that, which I love, but in the meantime, does anybody have any experience with Bisq? They used to be called Bitsquare, then they changed their name due to copyright violations. But their system and philosophy is exactly what we need right now: A decentralized marketplace for humans to buy/sell crypto without getting trapped by these centralized quasi-governmental bureaucratic monsters that gobble up our coins and fiat for weeks with no real accountability whatsoever.

And does anybody have any experience with LocalBitcoins? I’m still researching them, but their prices are high and I’ve heard some scary stories about people getting scammed.

And are there any other reliable ways to convert crusty old fiat to shiny new crypto that I haven’t described here?

Love, love, love Cardano. Please, liberate us from this centralized hell soon!

Hi @ADALove

I will definitely keep an eye on Bisq which I didn’t know about. I just did a very basic and superficial study about their reliability, Reddit comments, Review, so far nothing seems too shady, but I am still not 100% convinced.

are there any other reliable ways to convert crusty old fiat to shiny new crypto that I haven’t described here?

Lately, after the Bitstamp fiasco, I have been using Bitpanda, they are austrian, quite good, and verification can be long (as with any other platforms). The only downside is that they are not transparent about their fees structure, I couldn’t find it on their site.

Another option might be the Lykke Wallet, a phone app. From Switzerland, the big advantage is that they DON’T HAVE ANY FEES

You should read this thread and pay special attention to UXGB’s comment, which I pasted below :

after 1 week and 40 hours of research I am lost as never before. Which platform to use exchange fiat/crypto, crypto/fiat? Already tried who charged me 25% (!!!) of total value and still haven’t send me my ADA, because “their ADA wallet is under maintenance”. Since that poor experience was trying to find decent platform to buy/sell my crypto, what did I found: if platform has good reputation and normal fees (0,25% on transaction) it is not working UAE (where I live now), if platform is supported in UAE and has normal fees (0,25% on transaction), it doesn’t offer client fiat/crypto crypto/fiat transactions, and if platform is working in UAE and has normal fees, then in forums you will find a lot of people who will complain what platform just took their money and they didn’t got what they ordered (SCAM). Now tell me, how can we rise trust in cryptocurrencies worldwide then 80% of platforms are scam and fiefs?
P.S. If you personally know platform which you constantly use, and which is working worldwide, offering fiat/crypto - crypto/fiat exchange, fees are 0,25% for transaction (no hidden fees on artificially increased cryptocurrency price!) and have a good reputation and client service, please be so kind and share it with others.
Thank you

try localbitcoins . com - they have good offers near me

Have just checked them, sorry, to much scam reports, cannot risk that much. Any other suggestions?

From my google research, it was the only place i could find cash in hand offers (usd/btc) …

1 Like