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What is a Bisq Account setup?
Buy and sell bitcoin for fiat (or other cryptocurrencies) privately and securely using Bisq’s peer-to-peer network and open-source desktop software.
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Does BISQ cost?
Bisq operates with the following fees:
Create offer fee: 0.001 BTC (paid to the arbitrators, mining fee is included) Take offer fee: same as create offer fee (and also paid to the arbitrators).
Is BISQ a KYC?
Bisq is a decentralised bitcoin exchange that users access via desktop app that runs over the Tor network. It requires no KYC information and enables users to buy or sell directly with one another without a trusted third party.
Is BISQ a wallet?
As many other apps in the Bitcoin space, Bisq has a wallet embedded in it. It is not required in order to use Bisq, but it makes trading easier.
What is BISQ security deposit?
Bisq allows offer makers to choose a security deposit percentage: minimum is 15% of trade amount and maximum is 50% of trade amount (absolute minimum is 0.001 BTC). The offer taker must deposit the same amount as the offer maker.
Deposits and trade amounts are locked in the multisignature address to secure trades.
How is Bisq different from other decentralized exchanges?
Bisq is a peer-to-peer trading network, not a website or “app” or other centralized service. It’s software you run on your own hardware, which connects to other people running the Bisq software to facilitate trades. It’s open-source and community-driven.
And you can trade bitcoin for fiat currencies with it!
The difference between Bisq and other so-called decentralized exchanges is as stark as the difference between owning your own home and renting someone else’s—in the former case you have full control over the property, and in the latter you’re always subject to the landlord’s whims and demands (no matter how nice the landlord may seem to be).
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