What are the fees for trading on Bisq?

Bisq operates on a decentralized model that allows users to trade cryptocurrencies directly with one another, while fees are relatively low compared to many centralized exchanges. The fees on Bisq typically consist of a few components. First, each user is responsible for funding their own trading fees, which are paid to the network miners to process transactions on the blockchain. These fees can vary based on network conditions and the blockchain used. Additionally, Bisq charges a small trading fee that is calculated as a percentage of the transaction amount. This fee is generally around one percent, but it may vary depending on the specific trade conditions and market dynamics. Furthermore, traders may incur fees associated with the chosen payment methods, which can differ significantly based on the type of fiat currency and payment service used. It is essential for users to review the current fee structure on the official Bisq website, as it may be updated periodically to adapt to network changes or enhance user experience. By referring to the latest information on the Bisq platform, users can make informed decisions regarding their trades.