It is a BTC/FIAT peer-to-peer exchange over lightning. It simplifies + matchmaking and minimizes the trust needed to trade with a peer.
+ +RoboSats is an open source project (GitHub). +
+AdequateAlice01 wants to sell bitcoin, so she posts a sell order. + BafflingBob02 wants to buy bitcoin and he takes Alice's order. + Both have to post a small bond using lightning to prove they are real + robots. Then, Alice posts the trade collateral also using a lightning + hold invoice. RobotSats locks the invoice until Bob confirms he sent + the fiat to Alice. Once Alice confirms she received the fiat, she + tells RoboSats to release the satoshis to Bob. Enjoy your satoshis, + Bob!
+ +At no point, AdequateAlice01 and BafflingBob02 have to trust the + bitcoin to each other. In case they have a conflict, RoboSats staff + will help resolving the dispute.
+Basically all of them. You can write down your preferred payment + method(s). You will have to match with a peer who also accepts + that method. Lightning is fast, so we highly recommend using instant + fiat payment rails.
+Maximum single trade size is 500,000 Satoshis to minimize lightninh + routing failures. This limit will be raised as the Lightning Network + matures. There is no limits to the number of trades per day + or number of simultaneous Robots you can use.
+RoboSats will never ask you for your name, country or ID. For + best anonymity use Tor Browser and access the .onion hidden service.
+ +Your trading peer is the only one who can potentially guess + anything about you. Keep your chat short and concise. Avoid + providing non-essential information other than strictly necessary + for the fiat payment.
+This is an experimental application, things could go wrong. + Trade small amounts!
+ +The seller faces the same chargeback risk as with any + other peer-to-peer service. Paypal or credit cards are + not adviced.
+The buyer and the seller never have to trust each other. + Some trust on RoboSats staff is needed since linking + the seller's hold invoice and buyer payment is not atomic. + In addition, disputes are solved by the RoboSats staff. +
+ +While trust requirements are minimized, RoboSats could + run away with your satoshis. It could be argued that it is not + worth it, as it would instantly destroy RoboSats reputation. + However, you should hesitate and only trade small quantities at a + time. For large amounts use an onchain escrow service such as Bisq +
+ +You can build more trust on RoboSats by + inspecting the source code
+Your sats will most likely return to you. Any hold invoice that is not + settled would be automatically returned even if RoboSats goes down + forever. This is true for both, locked bonds and trading escrows. However, + in the window between the buyer confirms FIAT SENT and the moment the moment + the seller releases the satoshis, the fund could be lost. +
+In many countries using RoboSats is no different than using Ebay + or Craiglist. Your regulation may vary. It is your responsibility + to comply. +
+This lightning application is provided as is. It is in active + development: trade with the utmost caution. There is no private + support. Support is only offered via public channels + (Telegram). RoboSats will never contact you. + RoboSats will definitely never ask for your user token. +
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