Review of Bisq

Bisq is a decentralised fiat currency and cryptocurrency exchange primarily geared towards Bitcoin transactions. Its combination of powerful analytical tools and a clear interface make it a strong option for investors.
4/5 Star rating
12 min read
Written by: Charlie Hancox
Decentralized platform so security of coins and funds is ensured since nothing is stored on exchange
Provision of security deposit to protect buyers and sellers in case of fraud
Visit site & Sign up

Founded in 2014 and headquartered in Barcelona, Bisq is a peer-to-peer transaction platform that connects buyers to sellers directly for facilitating transactions without holding any assets (cash or coins) on the exchange. This ensures a highly secure trading environment enhanced by arbitration facilities and refundable security deposits.

Pros & Cons

Pros:

Decentralized platform so security of coins and funds is ensured since nothing is stored on exchange
Provision of security deposit to protect buyers and sellers in case of fraud
No Identity Verification required
Reasonable fees

Cons:

Slow transaction speed not suitable for active traders
Bitcoin oriented so all transactions take place in Bitcoin even when using other cryptos
Low volume on the exchange

What can I do with Bisq?

Bisq allows trading in Bitcoin by transacting it in fiat currencies and some other cryptos. It connects buyers to sellers directly and transactions only take place through the exchange. Assets are held by the respective buyer and seller in their wallets which is different from traditional centralized exchanges which hold coins and assets in their pool accounts.

It does not offer any derivatives or leverage and is simply a transaction marketplace. It offers an iOS & Android app but only for notifications. Transactions are not possible on the app but only through its open-source desktop platform. Since this is a peer-to-peer transaction platform, no personal information is stored on the exchange and your identity is protected.

Bisq Cryptocurrencies and trading options

What Cryptocurrencies can you trade on Bisq?

Bisq currently offers 37 coins for trading including Bitcoin, Ethereum, and Litecoin. However, it should be noted that the base for all transactions is Bitcoin.

Major cryptos traded on Bisq.

  • Bitcoin
  • Ether
  • Ether Classic
  • Monero
  • Dash
  • Litecoin
  • Zcash
  • Beam
  • Grin
  • Radium
  • Galilel
  • Dogecoin
  • Cash2
  • Decred
  • Faircoin
  • Bitcoin Rhodium
  • BSQ
  • Doichain
  • Liquid Bitcoin
  • Namecoin

Bisq core currency pairs

  • XMR/BTC
  • BTC/EUR
  • BTC/USD
  • BTC/GBP
  • BTC/CAD
  • BTC/BRL
  • ETH/BTC
  • BTC/CHF
  • BTC/SEK
  • DASH/BTC
  • LTC/BTC
  • BTC/AUD
  • ZEC/BTC
  • BTC/THB
  • BEAM/BTC
  • GRIN/BTC
  • RADS/BTC
  • BTC/NZD
  • DOGE/BTC
  • GALI/BTC

All Bisq trading options

Bisq offers a vast variety of fiat and cryptocurrencies with new currencies being added often. The only caveat is that they have to be brought to base currency, which is Bitcoin. It does not offer any derivative products on its exchange.

ProductOffering
Cryptocurrencies37
Crypto pairs36
View all trading options >

Can I trade with leverage on Bisq?

No, Bisq offers no leveraged trading as it is a decentralized exchange dealing in direct transactions.

What are the spreads?

Bisq works in a peculiar way as compared to other centralized exchanges. There is no automatic order matching. Transactions happen when people place their bids and offers on the order book and others who want to transact at that price hit them. 

Bisq does not make money on spreads but through a maker/taker fee and mining fee. The exchange charges a fixed 0.001 BTC as a maker fee and 0.007 BTC as a taker fee. It also charges a fixed 0.0003 BTC as a mining fee on each transaction.

Fees, limits, and payment options on Bisq

What are the deposit and withdrawal fees, limits, and speeds?

Bisq offers a whopping 29 methods of payment, depending on the country you reside in. There are no minimums, but the max limit is set per trade and varies from method to method. Since the exchange does not hold cash, you have to transfer money or coins for every trade. 

Payment methodDepositWithdrawal
Advanced Cash
– Per Trade Limit
– Fees
– Trading Period
 
2.00 BTC
0.0003 BTC
1 day
 
2.00 BTC
0.0003 BTC
1 day
Alipay (China)
– Per Trade Limit
– Fees
– Trading Period
 
1.00 BTC
0.0003 BTC
1 day

 1.00 BTC
0.0003 BTC
1 day
Cash Deposit 
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
4 days

0.25 BTC
0.0003 BTC
4 days
Chase QuickPay (USA)
– Per Trade Limit
– Fees
– Trading Period

0.25 BTC
0.0003 BTC
1 day
 
0.25 BTC
0.0003 BTC
1 day
Face-to-Face (Global)
– Per Trade Limit
– Fees
– Trading Period
 
1.00 BTC
0.0003 BTC
4 day
 
1.00 BTC
0.0003 BTC
4 day
Faster Payments (UK)
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
1 day
 
0.25 BTC
0.0003 BTC
1 day
HalCash (Spain)
– Per Trade Limit
– Fees
– Trading Period
 
1.00 BTC
0.0003 BTC
1 day
 
1.00 BTC
0.0003 BTC
1 day
Interac e-Transfer (Canada)
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
1 day
 
0.25 BTC
0.0003 BTC
1 day
Japan Zengin Furikomi
– Per Trade Limit
– Fees
– Trading Period
  
1.00 BTC
0.0003 BTC
1 day
 
1.00 BTC
0.0003 BTC
1 day
MoneyBeam (Europe)
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
1 day
 
0.25 BTC
0.0003 BTC
1 day
MoneyGram (Global)
– Per Trade Limit
– Fees
– Trading Period
 
0.50 BTC
0.0003 BTC
4 days
 
0.50 BTC
0.0003 BTC
4 days
National Bank Transfer
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
4 days
 
0.25 BTC
0.0003 BTC
4 days
Perfect Money
– Per Trade Limit
– Fees
– Trading Period
  
1.00 BTC
0.0003 BTC
1 day
  
1.00 BTC
0.0003 BTC
1 day
Popmoney (USA)
– Per Trade Limit
– Fees
– Trading Period

0.25 BTC
0.0003 BTC
1 day
 
0.25 BTC
0.0003 BTC
1 day
PromptPay (Thailand)
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
1 day
 
1.00 BTC
0.0003 BTC
1 day
Revolut (Global)
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
1 day
 
0.25 BTC
0.0003 BTC
1 day
SEPA (Europe)
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
6 days
 
0.25 BTC
0.0003 BTC
6 days
SEPA instant (Europe)
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
1 day
 
0.25 BTC
0.0003 BTC
1 day
Swish (Sweden)
– Per Trade Limit
– Fees
– Trading Period
 
1.00 BTC
0.0003 BTC
1 day
 
1.00 BTC
0.0003 BTC
1 day
TransferWise (Global)
– Per Trade Limit
– Fees
– Trading Period
 
1.00 BTC
0.0003 BTC
1 day
 
1.00 BTC
0.0003 BTC
1 day
US Postal Money Order
– Per Trade Limit
– Fees
– Trading Period
  
0.25 BTC
0.0003 BTC
8 days
  
0.25 BTC
0.0003 BTC
8 days
Uphold (Global)
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
1 day
 
0.25 BTC
0.0003 BTC
1 day
WeChat Pay (China)
– Per Trade Limit
– Fees
– Trading Period
 
1.00 BTC
0.0003 BTC
1 day
 
1.00 BTC
0.0003 BTC
1 day
Western Union (Global)
– Per Trade Limit
– Fees- Trading Period
 
0.50 BTC
0.0003 BTC
4 days
 
0.50 BTC
0.0003 BTC
4 days
Zelle (USA)
– Per Trade Limit
– Fees
– Trading Period
 
0.25 BTC
0.0003 BTC
4 days
 
0.25 BTC
0.0003 BTC
4 days
Altcoins
– Per Trade Limit
– Fees
– Trading Period Altcoins
 
2 BTC
0.0003 BTC
1 day
 
2 BTC
0.0003 BTC
1 day
Altcoins Instant
– Per Trade Limit
– Fees
– Trading Period Altcoins
 
2 BTC
0.0003 BTC
1 hour
 
2 BTC
0.0003 BTC
1 hour
Explore all payment methods >

How much are Bisq’s fees and commissions?

Bisq charges maker/taker fees are on the lower end as far as exchanges go, with fixed maker/taker fees of 0.001 BTC and 0.007 BTC, respectively. 

The mining fees of 0.0003 BTC are also on the lower side since the global average stands at about 0.0005 BTC.

Fee typeFee amountCommission
Crypto trading0.001 BTC Maker & 0.007 BTC Taker FeeNone
Other fees0.0003 mining feeNone
See all commissions and fees >

Bisq trade sizes and limits

There is no minimum trade size limit on the exchange except for dust limits if any. There is however a max limit of 2 BTC per day.

ProductMinimum tradeMaximum trade
CryptocurrenciesNone2 BTC 
View all trade sizes and limits >

Bisq trading platform

What devices can I use Bisq on?

Bisq is a desktop application for Windows, macOS and Linux. It does not have a web-based exchange and its iOS and Android app is for notifications only.

  • PC
  • Mac
  • Tablet

Can I use Bisq in my country?

Bisq is practically available for access across the world, provided you have access to the payment methods the exchange supports. The exchange is available in Australia, Brazil, New Zealand, and Switzerland among others. Select your country from the list below to see if it is available to you.

Is Bisq available in my language?

Bisq currently supports 9 languages, including English, Spanish, French, and German. Select your language from the list below.

How easy is it to use Bisq?

Bisq is usable only as a desktop platform. It has a slightly complicated process for installation as compared to a simple click and install method and requires the addition of extra software and downloading of signatures to complete the installation onto your desktop. This however adds an extra layer of security as the signature and software help verify the integrity of the installer package to see if it has been tampered with. With recent cases of malware installation especially when dealing with crypto, this is a positive.

Once installed, one has to set up a payment method and everything is stored on a local machine and not on exchange. Once the payment method is chosen, one can begin transactions by making or taking offers.

The platform is intuitive to use but the interface and features are pretty basic as compared to other refined and polished trading platforms. It offers buy and sell boxes, a portfolio tab, and a funds tab. There are extremely limited & basic charting options & no application of indicators. Bisq is not geared towards active traders and those who day trade. This is simply a transactional platform for those who wish to buy and sell crypto.

Key features

Bisq is a relatively old & simple, but nevertheless robust decentralized crypto exchange which offers a few notable features as below.

Decentralized Exchange

This is a true peer to peer network exchange. No data or assets are stored with the exchange and all the servers are hosted on peer machines across the globe making it safe from potential hacking attacks.

Safety & Security

In addition to its decentralized nature, Bisq does not hold funds either in their own or in pooled accounts. All funds are stored on local machines or the respective wallets of transacting individuals. This goes a long way towards preventing theft or misappropriation of funds.

No identity verification

Unlike most other exchanges today, no ID verification is required to transact on Bisq. Thus one can begin trading within minutes of signing up.

Security and regulation

Is Bisq safe?

Yes, Bisq is a completely decentralized peer-to-peer platform. It also does not hold any assets itself, thus preventing theft or susceptibility to potential attacks.

Am I and my Cryptocurrency protected?

Bisq does not require insurance as it does not hold any assets or funds itself. The funds and crypto of each individual stays with himself/herself on their local machines or in their wallets that they have linked with Bisq.

Is Bisq regulated?

Unlike traditional brokers and exchanges Bisq prides itself in being independent of any country or regulation. Its aim is to prevent censorship. As such it is not a company or institution, but rather a software platform acting as a marketplace.

Do I have to verify my account with Bisq?

No, Bisq is a completely anonymous exchange. However the financial institution through which your payment is processed will likely need some form of identity verification.

Extra information

Educational resources 

No educational resources are present on the website except for those related to the functioning of the platform. Some video tutorials  are available to assist in setting up and transacting on the exchange and a simple FAQ section is also provided. 

Tools and charting

An extremely basic chart is available that shows trades that have taken place across various time frames. Similarly, no specialized chart formats or indicators are present.

Customer support

Bisq is an open-source platform and its creators and community members can be contacted through various social channels like Github, Keybase, Twitter, and YouTube. In addition, Bisq also has a community website: bisq.community which covers a variety of support topics.

Our verdict

Bisq is a simple yet robust decentralized open source, exchange platform. It claims to be truly decentralized and thus protected against theft and hacking as well as freedom from regulation and censorship. It is primarily geared towards trading Bitcoin with other crypto and fiat currencies taking a backseat.

The platform is intuitive, but basic and simple in its presentation. It’s lower trading speed and protocol is not suited for active traders. Its decentralized nature also affects its liquidity and Bisq suffers from liquidity problems making it unsuitable for institutions. However for individuals, Bisq as a platform provides unparalleled security since everything remains on the local machine and no asset is transferred or held by Bisq.

For simple and secure transactions with lower than average fees, Bisq is recommended. 

How to buy and sell cryptocurrency on Bisq

How to buy crypto on Bisq

  1. Login to your account
  2. Click on the Buy Tab
  3. You can browse through existing offers and take them if you like or you can create your own offer by clicking on create new offer to buy BTC with your currency of choice
  4. Input quantity and limit price
  5. Deposit the security amount required using Bitcoin into your wallet. If no Bitcoin is present in your wallet, then it must be purchased using local currency by taking available offers
  6. Once funded, click on review and confirm and an offer will be placed on the market. If someone takes your offer, the transaction is complete.

How to sell crypto on Bisq

  1. Login to your account
  2. Click on the Sell Tab
  3. You can browse through existing offers and take them if you like or you can create your own offer by clicking on create new offer to sell BTC with (Currency of choice)
  4. Input quantity and limit price
  5. Deposit the security amount required using Bitcoin into your wallet. If no Bitcoin is present in your wallet then it must be purchased using local currency by taking available offers.
  6. Once funded, click on review and confirm and an offer will be placed in the market. If someone takes your offer, the transaction is complete.

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