There is a contradiction between Strike and Bisq, as the former is both KYC and custodian.
Bizum users can perform a maximum of 150 transactions per month on Bisq.
The decentralized exchange (DEX) Bisq announced this week the inclusion of the digital payment platforms Strike and Bizum, with which it will now be possible to buy bitcoin (BTC). All this within the framework of the expansion of this exchange house.
The company reported this via Twitter on October 28, where it noted that in its new update 1.7.5, now available for download, they have added “various payment methods,” 13 in total. In addition, they made it possible to maintain the chat between traders, even after finalizing the transaction.
Another new feature of DEX, which is an open source P2P application that allows you to buy and sell cryptocurrencies in exchange for national currencies, is the update of Tor to its latest version, move all nodes to Tor V3 directions.
While there are no further details, Bisq has shared screenshots of transactions made with both platforms. For Strike, the maximum transaction size is $ 1,000 for each payment.
In the particular case of Bizum, they warn that, to pay, a bank account in Spain is necessary, which can negotiate, only, between 0.50 euros and 1000 euros, with a 2,000 euros maximum daily to receive and send BTC using the platform.
“Bizum users can perform a maximum of 150 transactions per month. Each bank will have to establish its own limits for its customers, ”explains the platform.
The strike, more and more immersed in the ecosystem
The inclusion of Strike among Bisq’s payment methods is not strange, as it has penetrated the cryptocurrency ecosystem so much that it already has a strong presence in the world, and more so in the United States ( USA) and El Salvador, the first country in the world that embrace bitcoin as legal tender.
As reported by., The payment platform, which operates on the Bitcoin Lightning Network (LN), agreed earlier this year with the Bittrex exchange to offer support to users in more than 200 countries. At present, it already has a significant number of users, process millions of dollars per month.
In fact, the growth and recognition of the company has been such that it has enabled its users in El Salvador and the United States to convert wages deposited in dollars into bitcoins, without any commission.
This application allows each user to decide precisely what percentage of his salary he wishes to receive automatically convert to bitcoins.
Bisq shared screenshots of transactions made with both platforms / Source: Bisq.
A contradiction ?
While the inclusion of strike action as a payment method in the DEX Bisq denotes the expansion and growth of both companies, there is room for a contradiction.
Strike, due to its wide use, has become a company compliant with KYC (Know Your Customer) standards, a series of measures by which companies establish a process for identifying and verifying the identity of customers, through a series of controls that seek to prevent crimes related to terrorist financing, money laundering and corruption.
And, in addition, it is a custodian, that is, a digital wallet in which the administrators are the ones who keep the private keys of each user and control the stored cryptocurrencies. A key audience is from El Salvador, where although there is a government wallet (Chivo), there is a strong migration of users to Strike, due to various government product issues and failures.
But Bisq is decentralized, meaning that transactions are carried out with a certain anonymity and there is no need to provide personal information to proceed with the transaction or exchange cryptocurrencies.
It should be remembered that, by definition, a DEX is a peer-to-peer (P2P) marketplace for buyers and sellers of cryptocurrencies. They do not have custody, so each user has control of the private keys when performing transactions on these platforms.
Therefore, it remains to be seen how they resolve this small obstacle to the union between Strike and Bisq. So far no bugs have been reported, although admittedly the new update is hours after its release.
Bizum, the Spanish payment platform also linked to bitcoin
As for Bizum, which allows instant interbank transfers, this is not the first time that a cryptocurrency exchange has taken this into account.
As this newspaper reports, LocalBitcoins, one of the largest exchanges in the world, included Bizum among its payment methods in May.
In fact, we learned that internationally, it included platforms such as PAYSEND; AirTM; Defend; PaySera; Remitly; ecoPayz; Vodafone Cash; Monese; Airtel money.
To pay with Bizum, they warn that a bank account in Spain is required / Source: Bisq.