I see that my cryptocurrency to cryptocurrency trade period is 1 day. It can happen that my cryptocurrency payment (made to the wallet of other user) is not confirmed during that 1 day period. So what happens next?
The tooltip says that when the period is exceeded, both parties can open a dispute. But that does not give me any idea about how this is handled and what are the risks. I am unable to find the answer at https://docs.haveno.exchange/the-project/trade-protocol/?query=trade+period
Avoid BTC, transactions are unreliable on this network. Best to go with Bitcoin Cash (BCH) where next confirmation is guaranteed due to proper engineering.
Pay enough fees to make sure the payment is confirmed in time. Because of RBF you can’t make the argument that a Bitcoin payment has “started” as soon as it is in the mempool. You can be penalized up to 10% of the trade amount for being 24-48 hours late.
Thanks ♥️, RBF means likely Replace By Fee which is the way to send TX again with a different fee, causing initial TX replacement. Unfortunately it looks like my Electrum BTC wallet does not have this feature (maybe because i have used “coin control” to select outputs for the payment?).
I assume that when you are linking to a Bisq page while we are talking Haveno, the Haveno is using Bisq penalties? https://docs.haveno.exchange/ does not seem to list any table of penalties.
Well you see… Haveno is a fork of bisq which has been running for a lot longer and has more documentation. Many things are similar. Important things have been improved vastly imho