[Exchanges](https://revain.org/exchanges/) › Bisq

# Bisq: licences, security, fees and reviews

Decentralized exchange

## In short

- **Legal entity**: None; open-source code governed by the Bisq DAO
- **Fees**: Spot maker (Bisq 1, paid in BTC): 0.15% (as of 31 October 2026; wiki page edited 2 October 2026)
- **Risks and caveats**: Peer-to-peer trades can end in mediation or arbitration; a protocol violation can cost part or all of a security deposit.
- **Checked**: 31 October 2026

## Key facts

- **Type**: Decentralized exchange
- **Operator**: none: open-source peer-to-peer software governed by the Bisq DAO
- **Official site**: [bisq.network](https://bisq.network/)

Key facts checked on 31 October 2026 against official sources and regulator registers.

## What is Bisq

Bisq is an open-source, peer-to-peer bitcoin exchange network that runs as desktop software on users' own computers, without registration or KYC. Trades are secured by 2-of-2 multisig escrow and security deposits (Bisq 1) or by seller reputation (Bisq Easy in Bisq 2). There is no operating company: the project is governed by the Bisq DAO.

## Good to know

- Bisq is not a website or a company: it is software run on users' own hardware, governed by a DAO. [↗](https://web.archive.org/web/20261013202742/https://bisq.wiki/Frequently_asked_questions)
- On 1 May 2026 an attacker exploited missing validation checks in the Bisq v1 trade protocol, targeting active altcoin trades; trading was halted by an emergency mechanism. [↗](https://bisq.network/blog/security-incident-post-mortem/)
- Victim losses were 11.59104 BTC; Bisq states affected users have been reimbursed, funded by 'Refund Angels'. [↗](https://bisq.network/blog/where-bisq-stands-after-security-incident/)
- Bisq 1 requires both traders to lock a BTC security deposit (15% to 50% of the trade amount), so a buyer needs some bitcoin to start. [↗](https://web.archive.org/web/20261011200007/https://bisq.wiki/Security_deposit)
- Bisq Easy (Bisq 2) has no trade fees and no security deposit, but relies on seller reputation and is meant only for small amounts. [↗](https://web.archive.org/web/20261014003500/https://bisq.wiki/Bisq_Easy)
- The Bisq wallet is a hot wallet; the project advises against keeping long-term savings in it. [↗](https://bisq.network/blog/security-incident-post-mortem/)
- Bisq 2 is a separate application that installs and runs alongside Bisq 1. [↗](https://bisq.network/bisq-easy/)

## Services

| Parameter | Details |
|---|---|
| Spot trading | Peer-to-peer BTC trades against national currencies and other cryptocurrencies via desktop software. |
| Custody / wallet | Non-custodial: trade funds are held in 2-of-2 multisig addresses controlled only by the two traders. |
| Own token | BSQ, the Bisq DAO token, can be used to pay trading fees at a discount. |
| Bisq Easy | Bisq 2 trade protocol for novice buyers, launched March 2024. |

## Security and audits

- Non-custodial 2-of-2 multisig escrow; mediators and arbitrators hold no key since Bisq v1.2.
- Every Bisq node runs as a Tor hidden service; data is stored locally.
- May 2026 protocol exploit: trading halted, version 1.10.0 shipped broad hardening; Bisq says wallet funds were not directly compromised.
- Three-tier dispute resolution: trader chat, mediation, arbitration.

## Security incidents

| Date | What happened | Source |
|---|---|---|
| 8 April 2020 | Exploit: An attacker exploited a flaw in the Bisq trade protocol (the payout address of the time-locked payout transaction was not verified against the DAO donation address), stealing approximately 3 BTC and 4000 XMR from 7 victims in the XMR/BTC market. Developers used the alert key to disable all trading; the flaw was fixed in Bisq v1.3.0. Bisq's statement is dated 8 April 2020 and says the exploit was discovered about 24 hours earlier. Funds returned: Bisq said a DAO proposal would aim to repay the 7 victims from future trading revenues. | [bisq.network](https://bisq.network/statement-security-vulnerability-april-2020) |
| 1 May 2026 | Exploit: An attacker using a modified client exploited insufficient validation checks in the Bisq v1 trade protocol, targeting active altcoin trades; only Bisq v1 altcoin trades were affected. Trading was halted through an emergency version enforcement mechanism and Bisq 1.10.0 shipped security fixes. Bisq states total victim losses of 11.59104 BTC and that funds stored in Bisq wallets were not directly compromised. Funds returned: Bisq states that victims have been reimbursed; Refund Angels had contributed 10.98538295 BTC to date, and one affected trader had not yet submitted a reimbursement request. | [bisq.network](https://bisq.network/blog/security-incident-post-mortem/) |

## Fees

| Parameter | Details |
|---|---|
| Spot maker (Bisq 1, paid in BTC) | 0.15% (as of 31 October 2026; wiki page edited 2 October 2026) |
| Spot taker (Bisq 1, paid in BTC) | 1.15% (as of 31 October 2026) |
| Fees paid in BSQ (Bisq 1) | Targeted at 0.1125% maker and 0.8625% taker; adjusted each DAO cycle (as of 31 October 2026) |
| Bisq Easy | No trade fees; the seller pays the network fee to send the bitcoin (as of 31 October 2026) |
| Deposits / withdrawals | No platform deposit or withdrawal; users pay Bitcoin network mining fees. |

## Who can use it

- Verification: No registration or identity verification.

## History

| Date | Event |
|---|---|
| April 2016 | The project runs as Bitsquare, 'the decentralized bitcoin exchange', at bitsquare.io. |
| August 2017 | The same site presents the software under the name Bisq. |
| March 2024 | Bisq Easy launches as the first Bisq 2 trade protocol. |
| 1 May 2026 | Security incident in the Bisq v1 trade protocol; trading halted. |
| 16 June 2026 | Bisq reports that victims of the incident have been reimbursed. |
| 24 October 2026 | Bisq v1.10.10 security update released (latest release on GitHub). |

## Risks and caveats

- Peer-to-peer trades can end in mediation or arbitration; a protocol violation can cost part or all of a security deposit.
- A protocol exploit on 1 May 2026 caused losses of 11.59104 BTC for a limited number of users (later reimbursed).
- Bisq Easy trades rely on seller reputation only; trading with low-reputation sellers carries significant risk.
- The built-in wallet is a hot wallet and is not meant for long-term savings.

## About the company

- **Legal entity**: None; open-source code governed by the Bisq DAO
- **Formerly**: Bitsquare
- **Own token**: BSQ (Bisq DAO token)

## Official links

- Website: [bisq.network](https://bisq.network/)
- Fees: [bisq.wiki/Trading_fees](https://bisq.wiki/Trading_fees)
- Security: [bisq.network/blog/security-incident-post-mortem](https://bisq.network/blog/security-incident-post-mortem/)
- Blog: [bisq.network/blog](https://bisq.network/blog/)
- Source code: [github.com/bisq-network/bisq](https://github.com/bisq-network/bisq)

## Questions and answers

**What is Bisq?**

Bisq is open-source desktop software for trading bitcoin peer to peer for national currencies or other cryptocurrencies, without registration or KYC. It has no operating company and is governed by the Bisq DAO.

**Is Bisq safe?**

Bisq never holds user funds: trades use 2-of-2 multisig escrow and security deposits. On 1 May 2026 a protocol exploit caused losses of 11.59104 BTC for some altcoin trades; Bisq says affected users were reimbursed and shipped security fixes.

**What are Bisq's fees?**

As of 31 October 2026, Bisq 1 charges 0.15% maker and 1.15% taker when fees are paid in BTC, or less when paid in BSQ. Bisq Easy has no trade fees.

**Is Bisq regulated?**

No licence or regulator is listed: Bisq describes itself as code, not a company, so there is no regulated operator.

**Does Bisq require KYC?**

No. Bisq requires no registration or identity verification.

## Sources

- [Bisq - Home](https://bisq.network/)
- [Bisq - Bisq Easy](https://bisq.network/bisq-easy/)
- [Bisq - Security incident post-mortem](https://bisq.network/blog/security-incident-post-mortem/)
- [Bisq - Where Bisq stands after the security incident](https://bisq.network/blog/where-bisq-stands-after-security-incident/)
- [Bisq Wiki - Trading fees (archived 12 October 2026)](https://web.archive.org/web/20261012112639/https://bisq.wiki/Trading_fees)
- [Bisq Wiki - Bisq Easy (archived 14 October 2026)](https://web.archive.org/web/20261014003500/https://bisq.wiki/Bisq_Easy)
- [Bisq Wiki - Security deposit (archived 11 October 2026)](https://web.archive.org/web/20261011200007/https://bisq.wiki/Security_deposit)
- [Bisq Wiki - FAQ (archived 13 October 2026)](https://web.archive.org/web/20261013202742/https://bisq.wiki/Frequently_asked_questions)
- [GitHub - bisq-network/bisq](https://github.com/bisq-network/bisq)
- [Bitsquare home page, archived 25 April 2016](https://web.archive.org/web/20160425091454/https://bitsquare.io/)

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Page updated: 2026-10-31

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Source: https://revain.org/exchanges/bisq/