Bisq

What is Bisq

Bisq is an open-source desktop application for peer-to-peer Bitcoin trading. Unlike centralized exchanges, it operates as a distributed network of users running the software on their own machines. As of 2026-05-30, Bisq offers two main product lines: the mature Bisq v1 (latest release v1.10.0) and the newer Bisq 2 platform, which includes the simplified Bisq Easy trade protocol and mobile support. The project has no company behind it, no sign-up portal, and no central servers holding user data.

How no-KYC is it?

Bisq is fully no-KYC. No email, phone number, government ID, or any personal identifier is required to download, install, or trade. Users create offers or take existing ones pseudonymously. The software generates a local profile; reputation builds through trade history and account age witnesses rather than real-world identity. This design makes Bisq one of the few genuinely KYC-free fiat on-ramps to Bitcoin, though users should note that individual payment methods (bank transfers, etc.) may leave traces in the traditional financial system outside Bisq's control.

Privacy & security

Privacy is architecturally enforced. Every Bisq node runs as a Tor hidden service by default, concealing IP addresses. All data stores locally on-disk; nothing uploads to central servers. Trades use 2-of-2 multisig escrow where both parties must sign to release funds, with a mediator/arbitration layer for disputes.

A significant security incident occurred on May 1, 2026. An attacker using a modified client exploited missing validation checks in the Bisq v1 trade protocol, targeting active altcoin trades. Ten users suffered losses totaling 11.59104 BTC, with three traders bearing the majority. Fiat trades were unaffected due to the account age witness signing system. Bisq 2 and the Bisq Easy protocol were not vulnerable. Trading halted via emergency version enforcement, and v1.10.0 shipped with mitigations. A broader security review found no additional exploit paths for direct fund theft. Users should weigh this incident when choosing between v1 and Bisq 2.

Payments, fees & limits

Bisq supports Bitcoin trades against national currencies and alternative cryptocurrencies. The platform accommodates numerous payment methods-over 50 according to third-party estimates-including bank transfers, money orders, and cash deposits. Trading fees vary by protocol and market; makers typically pay lower fees than takers. BSQ, Bisq's colored-coin DAO token, can reduce fees for users participating in the project's decentralized governance. There are no deposit or withdrawal fees to a central entity, though on-chain Bitcoin transaction fees apply naturally. Trade limits depend on payment method risk profiles and account age, with newer accounts facing stricter caps that relax as reputation accumulates.

User experience & support

Bisq v1 runs on Windows, macOS (Intel and Apple Silicon), and Linux (Debian/Ubuntu .deb, Red Hat/Fedora .rpm, Arch AUR). Source code is available as zip or tar.gz with PGP-signed releases. Bisq 2 expands accessibility with mobile options: Bisq Easy Mobile, a full Android node using Bisq 2's Java libraries, and Bisq Connect, a lightweight remote-control client for both Android and iOS that links to a self-hosted or trusted desktop backend node.

The interface prioritizes function over polish. New users face a learning curve with multisig concepts, trade timeouts, and dispute resolution. Support channels include Matrix (bisq.chat), Telegram, GitHub issues, Reddit communities, and the Bisq forum. Third-party reviewers note Reddit and Telegram activity with communities in the 2,000-7,000 member range. Trustpilot shows 28 reviews as of recent checks. Users should remain vigilant against scammers impersonating support on social platforms.

Who it's for

Bisq suits privacy-conscious Bitcoiners seeking non-custodial, censorship-resistant trading without surrendering personal data. It appeals to technically comfortable users willing to manage their own keys, backups, and trade logistics. The May 2026 incident underscores that v1 altcoin traders currently face elevated protocol risk; those prioritizing stability may prefer Bisq Easy within Bisq 2. Bisq is less ideal for users wanting instant liquidity, advanced charting, or hands-off convenience comparable to centralized exchanges.