Review bisq.network – BitSquare, Login, Register, Reddit, Android, Support
Bisq is an open-source desktop application that allows you to buy and sell bitcoins in exchange for national currencies, or alternative crypto currencies.
On why Bisq is different, it is a decentralized bitcoin-to-fiat exchange. Most exchanges claiming to be decentralized are either not supporting fiat exchange or operate with a server architecture and do not fit the definition of a decentralized bitcoin to fiat exchange. And of course there are a lot of ICO projects with whitepapers but they have not proven yet that they can deliver any working software.
To be properly decentralized, one must avoid single points of failure:
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- Bisq does not hold any bitcoins. All are held in multisignature addresses rather than a Bisq-controlled wallet.
- Bisq does not hold any national currency. National currency is transferred directly from one trader to the other.
- Bisq uses a Peer-to-Peer network over Tor. This means there are no servers to be hacked or DDoS’d.
- Bisq does not know the traders. No data is stored on who trades with whom.
- Bisq does not require registration. This means privacy is maintained, there are no “approval” wait times, and identity theft becomes impossible.
- Bisq is not a company. It is an open source project organized as a Decentralized Autonomous Organization (DAO). Click below to access this Bitsquare website
Supported payment methods as at the time of this publication are:
- SEPA
- Zelle (formerly known as ClearXchange)
- Faster Payments
- National bank transfer
- Swish
- Chase QuickPay
- Interac e-Transfer
- Western Union
- US Postal Money Order
- Cash Deposit
- OKPay
- Perfect Money
- AliPay
- Transfer with same bank
- Transfers with specific banks
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List of currently supported altcoins as at the time of this publication are:
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- “BCH”, “Bitcoin Cash”
- “BCHC”, “Bitcoin Clashic”
- “BTG”, “Bitcoin Gold”
- “BURST”, “Burstcoin”
- “GBYTE”, “Byte”
- “CAGE”, “Cagecoin”
- “XCP”, “Counterparty”
- “XCN”, “Cryptonite”
- “DCT”, “DECENT”
- “DNET”, “DarkNet”
- “DASH”, “Dash”
- “DCR”, “Decred”
- “ONION”, “DeepOnion”
- “DOGE”, “Dogecoin”
- “DMC”, “DynamicCoin”
- “ELLA”, “Ellaism”
- “ESP”, “Espers”
- “ETH”, “Ether”
- “ETC”, “Ether Classic”
- “GRC”, “Gridcoin”
- “IOP”, “Internet Of People”
- “INXT”, “Internext”
- “LBC”, “LBRY Credits”
- “LSK”, “Lisk”
- “LTC”, “Litecoin”
- “MDC”, “Madcoin”
- “MAID”, “MaidSafeCoin”
- “XMR”, “Monero”
- “MT”, “Mycelium Token”
- “NMC”, “Namecoin”
- “NAV”, “Nav Coin”
- “NBT”, “NuBits”
- “NXT”, “Nxt”
- “888”, “OctoCoin”
- “PIVX”, “PIVX”
- “PART”, “Particl”
- “PASC”, “Pascal Coin”
- “PEPECASH”, “Pepe Cash”
- “POST”, “PostCoin”
- “PNC”, “Pranacoin”
- “RDD”, “ReddCoin”
- “STEEM”, “STEEM”
- “SFSC”, “Safe FileSystem Coin”
- “SC”, “Siacoin”
- “SF”, “Siafund”
- “SIB”, “Sibcoin”
- “XSPEC”, “Spectrecoin”
- “TRC”, “Terracoin”
- “UNO”, “Unobtanium”
- “CRED”, “Verify”
- “WAC”, “WACoins”
- “WILD”, “WILD Token”
- “ZEC”, “Zcash”
- “XZC”, “Zcoin”
- “ZEN”, “ZenCash”
On how much it costs to trade on Bisq, According to Bisq.network:
The trading fees for the offer maker and for the taker are calculated differently.
The trading fees for the offer maker is based on trade amount and distance to market price.
Min. fee (MinFee) = 0.0002 BTC, default fee (DefFee) = 0.002 BTC/per Bitcoin, market price factor (MF) = square root of percent value (e.g. 1% -> 1, 9% -> 3, 0.01% -> 0.1).
Makers trading fee = max(MinFee, DefFee * amount * MF). E.g. 0.002 BTC for 1 BTC trade at 1% market price distance equivalent to 0.2% of the trade amount.
The trading fees for the offer taker depends only on the the trade amount.
Min. fee (MinFee) = 0.0002 BTC, default fee (DefFee) = 0.002 BTC/per Bitcoin.
Takers trading fee = max(MinFee, DefFee * amount). E.g. 0.002 BTC for 1 BTC trade. That is 0.2% of the trade amount.
The maker has to pay the miner fee for the trade fee transaction. The taker has to pay 3 times the miner fee (trade fee transaction, deposit transaction and payout transaction). That is because we use a fee estimation service and the maker cannot know which fee will be required at take-offer-time. The mining fee is taken from the recommendation from a fee estimation service and can vary between 20 Satoshi/byte up to 400 Satoshi/byte. The users can see the actual mining fee when creating or taking an offer.
Remember to contact us via [email protected] to report any thing and also enquire about anything.