RoboSats and Bisq are both non-custodial, no KYC Bitcoin exchanges that allow users to buy and sell Bitcoin without having to go through a Know Your Customer (KYC) process. This means that you can use these exchanges to maintain your privacy and avoid surrendering your personal information to a third party. Additionally, they are both peer to peer exchanges.
RoboSats
Founded in 2021, RoboSats is a relatively new peer-to-peer (P2P) exchange that exclusively supports Bitcoin trading. Its intuitive interface, Lightning Network-based escrow system, and deterministically generated robot avatars make it accessible to those with limited Bitcoin knowledge. However, its limited liquidity, fewer payment options, and shorter track record may deter some potential users.
Bisq
Bisq was launched in 2014. With its longer history, it offers a more comprehensive set of features and greater flexibility, appealing to experienced traders seeking advanced functionalities. Its larger user base and higher liquidity ensure a smoother trading experience. However, its complexity may be daunting for novice users, and it lacks Lightning Network support (unless you use its newly launched protocal called Bisq 2). Unlike RoboSats, Bisq supports a variety of other cryptocurrencies.
Ease of Use
RoboSats requires you to use it with the Tor browser. If you’ve never used the Tor browser, RoboSats can pose a challenge for novices. However, you can educate yourself about Tor browser, how to use it, and its benefits. Fortunately, its user-friendly design guides newcomers through the trading process. Note that you don’t need to register or create an account to use the platform.
Unlike traditional exchanges where you interact through a web platform or an app, Bisq operates a little differently. It is a desktop application that is built on top of Tor. To access its features and participate in the network, you need to download and run the Bisq application on a computer running Debian, Linux, macOS, Ubuntu, or Windows.
To ensure that users are committed to completing trades and not wasting time, RoboSats requires users to have Bitcoin in their wallets before they can buy Bitcoin. This initial deposit serves as a commitment to the trade and discourages users from making empty promises. However, this can be an obstacle to new users who don’t have Bitcoin.
Bisq, on the other hand, offers two trading protocols: Bisq 1, the original platform, and Bisq 2, which debuted in March 2024. Bisq 1 mandates that new users possess bitcoin to purchase bitcoin similar to RoboSats, posing a hurdle for no-coiners. In contrast to RoboSats, Bisq 2 removes this requirement, enabling you to buy up to 0.01 BTC per trade without a security deposit.
Since RoboSats is a Lightning Network-enabled exchange, you’ll need a Lightning wallet to interact with it and facilitate Bitcoin transactions. You can convert your Lightning Network Bitcoin to on-chain Bitcoin and vice versa, directly within the RoboSats platform. In contrast, Bisq does not require a Lightning wallet because it only supports on-chain transactions, allowing you to use a regular Bitcoin wallet for trading.
Security
Both RoboSats and Bisq prioritize user security. RoboSats utilizes a Lightning Network-based escrow system, minimizing trust and custody requirements. Additionally, its deterministically generated robot avatars and Tor integration further enhance user privacy by masking personal identity, location, and IP address. Its robot avatars allow you to conduct a single trade per profile. Therefore, you don’t need to use the same profile ever again.
Bisq, with its established reputation, adheres to stringent security protocols, including Tor integration and multi-signature wallet support. Its decentralized nature eliminates the risk of a single point of failure, providing an extra layer of security for user funds.
Bisq is a decentralized exchange, which means it is not controlled by any single entity. This makes it very difficult to shut down Bisq, even if the developers were arrested. RoboSats, on the other hand, is a centralized exchange, which makes it more vulnerable to shutdowns. Additionally, RoboSats is controlled by a single entity, which means that if the operators were arrested or otherwise incapacitated, the exchange could be shut down.
Privacy
RoboSats and Bisq focus on user privacy by eliminating the need for Know Your Customer (KYC) procedures. This allows users to maintain their privacy and avoid surrendering personal information to third parties. RoboSats further enhances privacy through its use of generated robot avatars, which mask real identities and protect users from potential tracking or surveillance.
Fees
When considering fees, RoboSats offers a slightly more favorable pricing structure. Its maker fees stand at 0.025%, while taker fees are set at 0.175%. This competitive fee structure makes RoboSats an attractive option for frequent traders. Bisq’s fees, while slightly higher, remain competitive within the industry. Maker fees are set at 0.15%, while taker fees are at 1.15%. Despite being higher, these fees are still considered reasonable, especially considering the exchange’s extensive feature set, higher liquidity, and established reputation.
Note that Bisq has launched a new platform called Bisq 2 (Bisq Easy), which allows you to buy Bitcoin without fees. Here’s our review of Bisq 2
Features
RoboSats caters to a broader range of users, offering a balance between simplicity and functionality. Its Lightning Network integration enables faster and more affordable transactions, while its escrow system ensures secure trades. You can host your own instance of RoboSats into your existing Bitcoin and Lightning node setup on Umbrel, a platform for managing Bitcoin and Lightning nodes.
Bisq, on the other hand, caters to experienced traders seeking advanced features and customization. Its extensive feature set includes support for advanced order types, and market-making tools, empowering you with greater control over your trading strategies. However, it only supports on-chain transactions.
Below is the breakdown of their features.
| Feature | RoboSats | Bisq |
|---|---|---|
| Focus | Simplicity | Features and flexibility |
| Liquidity | Limited | High |
| Payment options | Limited | Many |
| Privacy | Strong | Strong |
| Fees | 0.025% Maker and 0.175% Taker | 0.15% by maker and 1.15% by taker |
| Cryptocurrencies | Bitcoin only | Bitcoin and other cryptocurrencies |
| Tor | Yes | Yes |
| Lightning Network | Supported | Not supported (Bisq 2 [Beta] users can use the Lightning Network) |
| App | Browser, I2P browser, Android app | Desktop app, mobile app only for notifications |
| Open source | Yes | Yes |
| Escrow | Supported | Supported |
| User level | Intermediate and advanced | Intermediate and advanced |
Experience and Reputation
Bisq boasts a longer history, having established itself as a reputable player in the decentralized exchange landscape since 2014. Its proven track record and established user base instill confidence in traders seeking stability and reliability.
RoboSats was launched in 2021. It is rapidly gaining traction due to its user-friendly approach and focus on privacy and support for the Lightning Network and Tor. By exclusively supporting Bitcoin, RoboSats aligns perfectly with the philosophy of Bitcoin maximalists, who believe in the long-term potential of Bitcoin as the dominant cryptocurrency.
Bisq vs Robosats: Our Verdict
RoboSats is a relatively new entrant bitcoin-only exchange, focusing on privacy, simplicity, and ease of use. Its Lightning Network-based escrow system minimizes trust and custody requirements, while deterministically generated robot avatars further enhance user privacy. However, its limited liquidity, fewer payment options, and shorter track record may deter some potential users.
In contrast, Bisq, with its longer history (since 2014), offers a more comprehensive set of features and greater flexibility. However, this complexity may be daunting for new users. Bisq boasts a larger user base and higher liquidity, but it lacks Lightning Network support. Notably, its newly launched Bisq 2 platform supports the Lightning Network, has no trading fees, no miner fees for bitcoin buyers, and no security deposit requirements.
Ultimately, the choice between RoboSats and Bisq hinges on your needs, experience, and preferences. If you are seeking a user-friendly experience, RoboSats is a suitable option. For experienced Bitcoiners prioritizing advanced features, flexibility, and a broader user base, high liquidity, Bisq emerges as the stronger contender. However, its lack of a mobile application and reliance on on-chain transactions could present significant barriers to adoption for certain users.
