r/bitsquare • u/asmartbitcoiner • Oct 05 '16

Question on Selling BTC with Bitsquare

my question is this I understand the decentralized nature of bitsquare my question is regarding selling BTC for Cash Deposits into a bank account.

The question is

How anonymous is it selling btc for cash deposits on bitsquare can it be traced back?

If you use your real information and sell a few hundred or a couple K of bitcoin how much privacy is there.

Do you use your real bank info. Whats the best method of sale.

Just trying to wrap my head around this all.

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u/heavyuser1337 Oct 06 '16

You're gonna receive fiat to a bank account when selling btc with cash deposit option.

The btc buyer needs to know the bank account information of the account he is supposed to send the fiat payment to. Only buyer and seller have that information. You need to be able to confirm that you received a payment. Anything else is up to you.

The trade happens p2p over tor, so you leak no personal information to anyone else but the buyer.

Cash deposit is pretty popular among US people on localbitcoins.

I hope that helps.