Are there fixed fees, transaction fees, or other fees?
Is the website safe and your information secure? Have there been previous breaches in security?
How many coins are available to trade?
|Ease of Use?
How good is the overall experience? Is it easy to buy/sell tokens, view funds, and see market movements?
Bisq is one of the most secure options in the market as of late. Most exchanges operate on centralized servers. Bisq on the other hand, is an open-source desktop application that allows you to buy and sell bitcoins in exchange for national currencies or alternative crypto currencies. By operating on the actual blockchain, hacks are basically impossible and your personal information is not accessible by the owners.
It may be tough to decipher Bisq’s fee structure, but it is definitly a competitive one. Min. fee (MF) = 0.0002 BTC, default fee (DF) = 0.002 BTC, amount factor (AF) = 1/BTC, market price factor (MF) = square root of percent value (e.g. 1% -> 1, 9% 0 -> 3, 0.01% -> 0.1). Trading fee = max(MF, DF * amount * AF * MF). E.g. 0.002 BTC for 1 BTC trade at 1% market price distance. To simplify it a tiny bit, if you buy Bitcoin at a market-relevant price, you will pay something under 0.002 BTC, depending on the size of your order.
Currently there are 127 cryptocurrencies trading at Bisq. Although that may seem like a ton, the trading volumes on each of these are pretty small when compared to the large traditional online crypto-exchanges.
EASE OF USE
Bisq is definitely not for the crypto-beginner. Since it is a dApp that you install onto your device it is a lot tougher to understand and operate than the traditional online exchanges. It is an extremely manual platform once it is running on your device. But this also means it is a lot safer to use than online exchanges. The loyal fan-base may not be huge, but definitely appreciates the service provide by the platform.
Bisq (formerly known as BitSquare) is one of the most unique crypto-trading options out there. They are not a company, but a “Decentralized Autonomous Organization” (DAO)”. The project was started in 2014. If you are a seasoned crypto-trader/investor then this is the perfect platform for you. It is completely manual, and does not connect to any online servers to store your tokens which makes it one of the safest options on the market. As much of a positive as that may seem it’s also one of its biggest drawbacks. Most people are gravitating towards the simple online exchanges, so that’s where all the trading volume is occurring.