Bisq

Bisq is an open-source, peer-to-peer exchange protocol that enables users to trade Bitcoin for fiat currencies or other cryptocurrencies without the need for a central authority. Designed for privacy, autonomy, and censorship resistance, Bisq operates entirely without custodial control, KYC, or registration. It provides a trustless environment through 2-of-3 multisig escrow, human arbitration, and a DAO-driven governance framework.

Since its launch in 2016, Bisq has remained one of the few truly decentralized Bitcoin DEXs, offering non-custodial trading via a desktop client that communicates over the Tor network.

Core Features

Peer-to-Peer Trading

Trades are executed directly between users over a decentralized network. There are no centralized servers or intermediaries—each trade is initiated, negotiated, and finalized through the Bisq desktop application.

Multisignature Escrow System

Each trade utilizes a 2-of-3 Bitcoin multisig escrow to ensure security for both counterparties. Funds are released only when both parties (and optionally an arbitrator) agree that the terms have been fulfilled.

Tor-Based Privacy

All communications occur over the Tor network, ensuring IP anonymity and censorship resistance. The desktop client also encrypts trade messages and metadata by default.

DAO Governance

Bisq is governed by its community through the BSQ token, a colored Bitcoin token used for proposal voting, contributor compensation, and fee discounts. The DAO structure ensures transparency and public accountability without centralized control.

Fiat and Crypto Support

Users can trade Bitcoin directly for fiat currencies such as USD, EUR, GBP, and more using payment methods including bank transfers, Revolut, SEPA, Zelle, and others—entirely without intermediaries or custodians.