Fiat Markets' Trading Cost in Detail

The goal of this thread is to help new traders understand the minutia of the trading in Bisq. Many of these settings are subject to change through a “Proposal for changing a parameter” in the Bisq DAO.

Trading fee

Using the BSQ token gives you some discount in the Trading fee.

Security deposit

The security deposit for the BTC Buyer is adjustable and can be set by the Offer Maker.

Why are these necessary

In short, these tools are in place to avoid spamming of the network, to ensure seriousness of the trade offers and to defend against attacks on the network’s users privacy.
More details can be found in the risk analysis document.

Mining fee

The mining fees differ from the above as they aren’t related to the trade amounts but to the size, urgency and number of bitcoin transactions. For the current protocol there are 4 necessary on-chain transactions:

  • the Maker is responsible for 1 on-chain transaction
    • Make offer
  • the Taker is responsible for 3 on-chain transactions
    • Take offer
    • Send funds to escrow
    • Send funds out of escrow

Bisq uses this service to estimate fees.