I successfully purchased some BTC via bisq. During the buy process I left the “Select trade fee currency” at the default which was 0.000060 BTC.
Now after the purchase is complete, I see in my portoflio tab under Summary of completed trade, “Total mining fees” was 0.002052 BTC or 10.26% of trade amount.
WTF? Where did this fee come from. I certainly didn’t agree to it. No one in their right mind would pay a 10% transaction fee.
What gives?
Before using the software (or even after), it’s a good idea to read a bit the docs and to take care of the context.
The doc: https://bisq.network/faq/#cost-to-trade
Total fees are the sum of different fees. There are internal fees that Bisq is responsible of. There are bitcoin mining fees where Bisq cannot do anything.
atm, bitcoin mining fees are rather high (180 satoshis/byte), so if your trade is small, then the ratio will be high.
You are right. I have the same problem. Bisq is using this tool for the fees https://bitcoinfees.earn.com/api/v1/fees/list
May be they can change. Otherwise i’ll change to another exchange. 