You’re absolutely right, but the change to 0.25% are pushing it. The privacy and freedom features that Bisq offers are mostly of interest to individuals. For people that trade daily and in large volumes like me, these fees become a problem. There is nothing we can do anonymously, our books have to account for every single trade and cent. This makes Bisq a regular exchange without some of the little hassle they sometimes bring, that hassle is not worth 0.25% to me.
I noticed today the fees doubled again and went up to 0.5%.
I pay 0.01-0.05% maker fee and 0.10-0.20% taker fee on the other exchanges that i use.
The only thing i think this fee-greed brings to Bisq is suffocation of the market, push out legitimate traders and volume and only service shady individuals who’s priority it is to exchange in the dark at any cost.
You have to realize what the fees are for. This is the business model for exchanges, they have huge operational cost, and they can do with much lower fees. Of course they often run much higher volume as well, but you can’t tell me Bisq needs these fees to keep it going.
I’ve personally paid well over $30.000 in Bisq fees just this month, and that’s with the decreased volume resulting of the high fees.
0.25% was a bottleneck for a significant number of trades. 0.50% is an absolute deal breaker for basically any serious trader in this space.
I’m sure some of you will argue that in other markets fees are much higher still, however true that may be, that is not the market Bisq is in, it’s a different world, with different players to account for.
I don’t want to rant about this too much, i guess it’s been voted upon fairly. I’ve used Bisq very pleasantly for the past year, i hate to let go of it for now. I’ll surely keep my eyes on the fees and markets to see when it becomes relevant to my strategy again.
Happy trading everybody.