I'm still wondering how the Bisq exchange works and the mechanism they put in place to ensure people are not cheated in their P2P operation since the coins are not held by a third party. My worry is on the fiat transaction, that is if a user can redeive the funds and refuse to confirm and in such situation, how is the issue reolved. I have heard about the platform but I have not used it for once.
Bisq operates 2-2 multi-signature escrow wallet controls by only the buyer and seller, no third party and each party must deposit a security fee ( 50% of trade amount) before proceeding to trade. If one party fails, the other party takes the security fees as compensation.
If both trade goes through successfully, the security deposit are refunded to both parties.
It was too complicated - Newbies should avoid it completely.