bitsquare is a decentralized open-source exchange, desktop application that allows you to buy and sell bitcoins in exchange for national currencies, or alternative crypto currencies, without the need to entrust funds to a third party or middleman, meaning that the transactions occur directly between the buyer and seller. This approach makes trading Bitcoin much safer as the exchange is not vulnerable to hacks or thefts and since the software is completely peer-to-peer it is also impervious to DOS attacks.

Using Bitsquare is not only safer than using a centralized exchange, it is also much more private. Centralized exchanges require users to verify their identity, while Bitsquare will only require you to reveal your identity to the person you’re selling Bitcoin to, which is anonymous and untraceable like you since the Bisquare network operates using Tor hidden services, and all the private data sent over the wire is end­-to-­end encrypted.

However, not everything in Bitsquare is superior, as advanced trading features are not available and since everything is decentralized, order books are hosted by the user. This means that both parties must be online for the exchange to begin. Furthermore, both the buyer and seller have to signal certain actions within the trade for it to be successful, meaning that not only the computer must be turned on, but the trader must also be online.

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