Wednesday, November 29

Decentralized Bitcoin Exchange Doubles Volume in Real

The search for decentralized exchanges continues to grow both in services that only work with cryptocurrencies and in services that also work with fiat currencies, such as the Real.

Second report, the Bisq, a decentralized exchange that works with cryptocurrencies and the real, doubled its trading volume of Real (BRL) in 2021, compared to last year. The same happened in 2020 compared to 2019.

Today, services like Bisq are used by those who want to trade bitcoin and other cryptocurrencies anonymously, without having their data, such as photos, stored in centralized services.

This service has even caught the attention of Twitter founder Jack Dorsey, who is considering launching a decentralized Bitcoin broker soon.

Trading volume is doubling every year

The report released by the Reddit points to a great growth in P2P negotiations, that is, without intermediaries. While the trading volume in reais (BRL) is doubling every year, elsewhere this growth is even higher, with a 200% increase in trading in the euro (EUR), for example.

Trading volume in Bisq, in Dollars, Real and other currencies. Source: Reddit

In 2019, the volume of BRL trading at Bisq was only US$300,000, despite this, this amount doubled in 2020, rising to US$600,000 and in 2021, it again saw an increase of more than 100% with a volume of 1.3 million dollars.

In other currencies, this growth is even greater. As an example, trading in Pound Sterling (GBP) is growing 3 times each year, the same happens with the Euro (EUR) which registered a volume of 18 million dollars in 2021. As for the US Dollar (USD), as well as the real had a growth of approximately 2 times this year.

In addition to providing a greater level of privacy, although bank details are revealed elsewhere, these decentralized services are a good option for those who cannot, or want, to use a centralized exchange for some reason.

How to use Bisq

To use Bisq, you need to download the exchange software, which works like a torrent, and fill in your data, like a bank account. After that, you can create buy or sell bitcoin (BTC) orders for real (BRL).

The video above shows in detail the steps required to use Bisq. An interesting point is that the video was recorded on Christmas 2019 with Bitcoin trading for R$29,500, two years later and its price is R$264,500.

Finally, if this is your first experience, it’s worth studying the platform carefully to mitigate losses. Going beyond, volume growth at Bisq, which even allows purchase by mail, and the Bitcoin price are two strong signs that the Brazilian market is paying attention to the lessons left by Satoshi Nakamoto and seeking solutions in this regard.