BI
Decentralised P2P Bitcoin exchange with on-chain multisig escrow — no signup, no custody, desktop and mobile apps routed through Tor by default, with DAO governance and AGPL-3.0 source code.
Bisq is a decentralised peer-to-peer Bitcoin exchange launched in 2014 by Manfred Karrer (originally as "Bitsquare"). It runs as a local application on the user's own machine, routing every connection through Tor hidden services by default, and settles trades using 2-of-2 on-chain Bitcoin multisig escrow with security deposits from both sides. There is no central server, no account, no email — Bisq's identity is generated locally and never leaves the device.
Maker and taker post offers to a P2P network. Upon matching, both sides lock a security deposit into a multisig address alongside the trade amount; the buyer sends fiat or altcoins out-of-band, the seller confirms, and the multisig releases. Disputes are resolved by a mediator first, then a fallback arbitrator, drawing from the deposits. Fees are paid in BTC (or in BSQ, the coloured-coin governance token, with a discount). Bisq 2, now stable, introduced "Bisq Easy" — a chat-based, reputation-gated protocol with no trading fee and no security deposit for small trades (≲ $600), and a dedicated Android mobile app shipped in early 2026.
None. No accounts, no email, no identity check. All traffic is Tor-only; every client runs its own onion service. Fiat payment methods (SEPA, Zelle, Revolut, Wise, cash by mail, face-to-face) generate the only off-chain identity signal — that exposure belongs to the payment method itself, not to Bisq.
The code is open-source under AGPL-3.0 at github.com/bisq-network/bisq (and /bisq2); governance runs through a DAO funded by trading fees. Liquidity is lower than centralised venues, and first-trade onboarding is slow because of the security-deposit funding step. In April 2020 an attacker exploited a Bisq 1.2 vulnerability — the default donation address could be overwritten, letting the attacker claim timed-out trades. Roughly 3 BTC and 4 000 XMR (~$250 000) were stolen from seven users before a hotfix shipped in v1.3.0. The DAO committed to reimbursing victims out of future trading revenue and no equivalent incident has occurred since.
At 8.7/10 with KYC rated trustless (L0), Bisq remains the benchmark for non-custodial Bitcoin trading. The 2020 exploit is a material fact, but ten years of operation, the AGPL codebase, Tor-by-default architecture and the Bisq 2 redesign keep it among the few places where BTC-to-fiat trading happens without surrendering identity.
NO
Non-custodial crypto swap aggregator with no signup, no email and zero KYC — single-use deposit addresses, 70+ coins across 20+ chains including Monero and Lightning, ~8-minute median settlement.
Cross-chain atomic-swap DEX from the Particl Project, run locally as a self-hosted node with Docker — trustless BTC↔XMR swaps via adaptor signatures, no accounts, no fees, MIT-licensed.
Non-custodial P2P Bitcoin marketplace with 2-of-3 multisig escrow, running since 2016 — 100+ fiat currencies, 300+ payment methods, 0.5-0.6% fees. Email required but no ID; US not served.
SW
Non-custodial aggregator comparing instant-swap rates from 18+ partner exchanges across 1,600+ assets — no signup, no KYC at the aggregator layer, funds never touch Swapzone wallets.
XM
Peer-to-peer Monero marketplace for goods and services — non-custodial with optional 2-of-3 multisig escrow, no email or ID required, born out of the Monero Talk podcast community.
DF
Swiss non-custodial fiat on/off-ramp by DFX AG (Zug, 2021) — SEPA/SWIFT to 80+ cryptos, no KYC up to 1000 CHF/day, crypto goes directly to your wallet. Open-source API, Swiss SRO license.
Policies change. Help us keep this listing accurate by sending a quick note.
