BisqReviews of bisq.network

During my first time buying, sending, and holding bitcoin, I chose Bisq because I didn't want to deal with KYC, and it was the right choice. Excellent service.

Have to wait more than 12 hours for an allcoin trade to complete because they do not set a decent amount of miner fee and the transaction is simply stuck for hours and hours and hours. This happens every time lately! Lots of users report the same problem, but the developers couldn't care less. If the service would be maintained properly and if there would be some sort of support for users, yes, it is a nice idea. But in this conditions is simply rubbish! If you do not mind waiting days for their stupidity/greediness than go ahead. Not to mention that if there is any kind of problem a dispute can take weeks to resolve! Making a profit from any Bisq trade? hahahahhahahaha Losing from Bisq trades? Not only possible, a sure thing!

These guys are doing a great job and it shows on their product. The higher fees compared to an exchange are worth the effort when you think this is purely P2P, that's the real spirit of crypto. Their app still needs some tweaking, but I've been using for some time and feel they're improving with every new release.

I've been buying bitcoin since the beginning of 2020 on Bisq. I'm an absolute rookie in bitcoin, and with a little help from a friend I've been starting to understand a bit more every day, but there are a lot of tutorials on their website or YouTube so start with. If you're a newbie like me, in the beginning start buying from a signed trusted user, and as you build a reputation on this network continue creating your own offers. The fees can be pretty low if you are reasonable and patient enough. For example, when buying 0.01BTC, in the beginning on my first transaction I paid 0.50% trade fee, 1.20% mining fee, plus 1% above market price for the seller (2,7% Total). The last purchase offer I've created the trade fee was 0.50%, 0.26% for the mining fee, and 0% above market price (0.76% Total). The higher you want to buy, the lower the fee percentage. If you want to buy 0.1BTC you can get as low as 0.10% trade fee and 0.10% mining fee. The app is getting better with every new version they launch.

The best and most private way to buy bitcoin. No identity check.

my first trade ended in a scam, the guy never replied after I sent him the coins, the price he offered was too good to be true and all I got back was his security deposit, which is worth 5% of the assets we were intending to exchange. Mediation was also slow, took an entire week to get at least the 5% and now I am sitting here with a loss of 95% and as I can see this is not an exception. WDF

I greatly admire and support the Bisq concepts of decentralization and (community) autonomy, but I don't feel comfortable using the service anymore. Which is an epic shame since it's just about the only truly decentralized exchange that doesn't require you to vomit up your private data putting you at future risk for all kinds of identity fraud. Like most others have mentioned, Bisq's low trade volume is a problem. Why would you use a service if there are so few trades open to you? That doesn't foster healthy competition. And while I understand Bisq's security rationale, the very low trade limits during the first few MONTHS on Bisq mean you may miss out on the best trade rates. We all know cryptos' rates are volatile. By the time you could actually start trading on Bisq, you might have missed the opportunities that drew you there in the first place. But the biggest gripe I have is with the human-nature factor. Other traders can be either irresponsible (won't complete trades due to not paying attention) or downright conniving (hold off on completing trades when they think there's a better opportunity somewhere else). The arbitration process is slow to resolve this, if it's resolved at all. You have to wait for back-N-forth messages and in the meantime, the other trader may be doing more business with others, maybe pulling the same stunts. Bisq arbitrators should be stricter in policing policy. If a trader is found more than once to be in the same kind of dispute/arbitration, they should face serious enough consequence to encourage them to abide by the rules. If you can screw others over with next to no repercussions, there's little to encourage you to change. I think these are some of the big issues keeping more people away from Bisq. I totally support the philosophy, but you DO have to have some trust in the other party. Otherwise, you lose opportunities due to funds being tied up when they really shouldn't be. I'd also vote for a MUCH larger deposit. A trader who's screwing others over may not care if all that's on the line is thousandths of BTC. Make the deposit a significant fraction of the trade, like 10% - 25%. No one wants to lose 0.25+ BTC... One last thing, I don't like divulging my bank account info in ANY way. Not to Zelle, not to the other person I'm trading with. We need a way to confirm and send funds that doesn't require sharing such private info. I'm not engaging in illegal activities, but I don't want my private info out there at all. I've read there are projects in the works to use the blockchain for just this kind of trustless confirmation. Great. Until the above issues are solved, I have to stick with other exchanges. Better the devil you know. Most important advice to Bisq: start enforcing the rules by stopping people from breaking them AS SOON AS they're caught.

Bisq has long way to go. I am not interested in earning around 50$ in a week through my 500$ deposits. Bisq failed to provide me decent volume of profit. Keep thinking innovative and provide us the best service.