Bisq
Decentralization and Security: Unlike traditional exchanges, Bisq doesn't hold any Bitcoin or other crypto assets. Instead, all trading is done directly between users with Bitcoin held in 2-of-2 multisignature addresses controlled solely by the trading peers themselves. This setup enhances security, as Bisq has no control or access to the user's funds. National currencies are transferred directly between traders using traditional banking and payment services, without Bisq's involvement.
Privacy and Anonymity: Bisq offers a high degree of privacy and anonymity. All data is transferred over Bisq’s secure peer-to-peer network, which is built on top of the Tor network, meaning there are no central servers that could be hacked. There is no need for Know Your Customer (KYC) procedures, allowing for private transactions.
Open-Source and Community-Driven: Bisq is not a company but an open-source software project organized as a decentralized autonomous organization (DAO). This structure allows for community-driven development and decision-making, making it stateless and resistant to censorship.
Trading Process: The trading process on Bisq is different from centralized exchanges. There is no automatic order matching, and trades are manually settled by users. Trading takes place on a global peer-to-peer network, with users running Bisq on their own machines.
Supported Payment Methods: Bisq supports a variety of payment methods, including national bank transfers, SEPA, Zelle, Face-to-Face, and others. However, credit cards are not yet supported on the platform.
Bisq DAO: The Bisq DAO enables decentralized governance and funding, making Bisq self-sustaining. It uses the BSQ token (colored Bitcoin) for value transfer, allowing trading fees to be distributed to project contributors without the need for centrally-held bank accounts.
Name
Bisq
Description
Decentralized, peer-to-peer Bitcoin exchange allowing users to trade Bitcoin for fiat currencies and other cryptocurrencies. Known for its strong privacy features, no need for KYC, and resistance to censorship. Bisq operates as a decentralized autonomous organization (DAO), is open-source, and does not hold users' funds.
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