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.
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.
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.