What is Bisq?
Desktop peer-to-peer (P2P) application that allows you to buy and sell bitcoins in exchange for fiat (national currencies), or alternative crypto currencies
Features and Philosophy: Unlike traditional online exchanges, Bisq is designed to be: • Instantly accessible – no need for registration or approval from a central authority. • Decentralized – there is no single point of failure. The system is peer-to-peer and trading can not be stopped or censored. • Safe – Bisq never holds your funds. Decentralized arbitration system and security deposits protect traders. • Private – no one except trading partners exchange personally identifying data. All personal data is stored locally. • Secure – end-to-end encrypted communication routed over Tor. • Open – every aspect of the project is transparent. The code is open source. • Easy – we take usability seriously.
Bisq is for those who do not want to forfeit control or privacy to a central authority in order to trade with other individuals. We regard financial transactions as a form of private speech that should be protected from surveillance by banks, governments, and other institutions.
It is non-custodial in that it never touches or controls user funds, these are held in user controlled wallets and accounts. Security deposits are done through multisignature Bitcoin addresses.
Bisq employs three mechanisms of achieving security:
- All bitcoins traded with Bisq are secured in a 2-of-3 multisignature address.
- Both traders are required to pay security deposits. These are refunded to them after a trade completes.
- Bisq features an arbitrator system, to be used in case a trade dispute arises.
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Said about Bisq as an alternative
Bisq is FOSS software and decentralised. No corporate overlords!