Bisq vs Swan

Bisq is a decentralized, open‑source desktop app created by Manfred Karrer for buying and selling bitcoin directly with other people. It routes all traffic over Tor, uses a built‑in non‑custodial wallet and has no sign‑ups or KYC. Trades span many national currencies and payment rails, and the project is funded and governed through a community DAO with the BSQ token rather than a company.

What separates Bisq is its security and incentive design for fiat‑to‑BTC P2P. Each trade locks both sides’ refundable security deposits in a 2‑of‑2 multisig escrow. Account‑age and signing rules gradually raise per‑trade limits to reduce chargeback risk, and a small amount of bitcoin is required up front to cover fees and deposits. Trading fees are transparent and lower if paid in BSQ. It’s desktop‑first by design; the mobile app is for notifications.

User feedback highlights Bisq’s strengths in privacy, censorship resistance and self‑custody, along with clear, step‑by‑step trade flows and a multi‑stage dispute process if things go wrong.

The trade‑offs are thinner liquidity depending on region, wider spreads than convenience brokers, the need to already have a little bitcoin, and settlement times tied to the chosen fiat method and counterparties’ availability. Some users note that disputes can take time, and that desktop performance varies by setup.

Bisq’s target audience is privacy‑minded bitcoiners and anyone who needs a resilient, non‑custodial fiat ramp. The roadmap is to keep the marketplace permissionless while improving UX and resilience: Bisq 2 introduces a simpler “Bisq Easy” path alongside the familiar multisig protocol, support for multiple privacy networks, and optional use of Liquid for faster, lower‑fee settlement.

Swan Bitcoin, launched by Cory Klippsten and based in California, is a platform focused on making it easy for beginners to buy and save Bitcoin.

What makes Swan distinct is its focus on self-custody support and education. It automatically withdraws BTC weekly to your own address and provides guides for self-custody, while also offering Swan Guard with fraud protection and identity verification tools. Swan prioritizes teaching users about Bitcoin's value for financial freedom. Swan also targets long-term savers by offering IRA products making Bitcoin tax-advantaged retirement savings easier.

Swan offers zero-fee purchases on the first $10,000, a low 0.99% fee for recurring buys, and free withdrawals to personal wallets, encouraging self-custody. Its app is praised for its clean design and simple setup. However, some users report slow customer support and issues with account restrictions.

Its vision is to onboard 10 million Bitcoin users by promoting Bitcoin as better money for a decentralized future.