Should I choose BISQ over Shapeshift.io?


#1

Hi everyone,

I want to ask if someone can name advantages and disadvantages of BISQ over Shapeshift.io

thanx


#2

As far as I know, you can’t trade fiat with shapeshift.
Bisq specializes in trading fiat to crypto and vice versa.


#3

Beside the fiat argument, for altcoins Bisq offers the highest level of privacy of all available exchanges. Shapehift does not require registration but as you cannot connect via Tor they have good changes to track and identify you (as long you are not taking a lot of precautions).


#4

I used shapeshift via TOR browser for testing with small amount and it worked, but not feeling really safe by doing so:

  1. The communication this way isn’t within the TOR network from onion to onion address, you need to go through TOR exit nodes and there man in the middle could steal your coins

  2. Shapeshift is a central service so potential subject for DDOS attacks, hackers etc. while you’re trading.

So on the one hand it’s a nice service, but if you want fiat deals, privacy and enhanced security it’s not the final solution.