Haveno vs RetoSwap vs Bisq: peer-to-peer Monero trading compared
Haveno is open-source software for peer-to-peer Monero trading, and RetoSwap is the largest public network running it, with fees of 0.1% for makers and 0.8% to 2% for takers. Bisq 1 also trades XMR, but only against Bitcoin, with BTC deposits and higher taker fees, and Bisq 2 does not support Monero yet. For buying XMR directly with fiat in 2026, RetoSwap is the most practical of the three.
Haveno, RetoSwap and Bisq at a glance
| Feature | Haveno (software) | RetoSwap (network) | Bisq 1 |
|---|---|---|---|
| What it is | Open-source P2P exchange software built on Monero and Tor | A public trading network running Haveno | The original P2P Bitcoin exchange, with XMR as an "altcoin" pair |
| Main settlement coin | Monero | Monero | Bitcoin |
| XMR trading pairs | Depends on the network | XMR against fiat and crypto (USDT, BTC, ETH, LTC, BCH) | XMR/BTC only |
| Escrow | Monero 2-of-3 multisig (buyer, seller, arbitrator) | Same as Haveno | Bitcoin 2-of-2 multisig with BTC deposits |
| Fees | Set by each network | Maker 0.1%; taker 0.8% (crypto) or 2% (fiat), per retoswap.com | Maker 0.15%, taker 1.15% in BTC, or about half that paid in BSQ (bisq.wiki) |
| What you need to start | Depends on the network | XMR for the deposit, or a seller's "no-deposit" offer | BTC for deposits and fees |
| Apps | Third-party installers only | Desktop (Windows, macOS, Linux) and Android | Desktop |
| KYC | None by the software | None by the network | None by the software |
Haveno: the software
Haveno is a fork of Bisq's design rebuilt around Monero. Its test network launched on 18 August 2022 and the project declared it ready for Monero's main network on 26 October 2024, using third-party installers and networks (haveno.exchange). The Haveno project itself runs no public trading network and says it does not endorse any network.
A trade works like this: the maker posts an offer, the taker accepts, and both lock a security deposit in a Monero 2-of-3 multisig wallet with an arbitrator. The buyer pays outside Haveno (bank transfer, cash, crypto). When the seller confirms receipt, the XMR is released. The arbitrator only steps in if someone opens a dispute. All traffic runs over Tor. Funds take about 20 minutes to unlock because of Monero's 10-block rule.
RetoSwap: the busiest Haveno network
RetoSwap describes itself as a peer-to-peer network, not a website or company: you download the app and run it yourself. In October 2026 its site lists more than 19,000 completed swaps and payment methods including SEPA, ACH, PayPal, Cash App and cash, plus crypto pairs with USDT (on Ethereum and Tron), BTC, ETH, LTC and BCH.
Fees started after more than a year of zero-fee trading: 0.1% for makers, 0.8% for crypto takers and 2% for fiat takers, according to retoswap.com. To get around the "you need XMR to buy XMR" problem, some sellers publish no-deposit offers that you take with a passphrase they give you.
Other Haveno networks exist. One, Dawnswap, advertises 0.1% maker and 0.5% taker fees; some community members have questioned its naming and trustworthiness. Because anyone can launch a network and publish installers, fake apps are a real risk. Type the network's address yourself or use a bookmark, and check signatures where they are offered.
Bisq: still a BTC exchange first
Bisq 1 has long been used to trade XMR. In October 2018, XMR/BTC made up about 98% of Bisq's daily volume (CriptoNoticias, 22 Oct 2018). But on Bisq 1, Monero is traded only against Bitcoin, and both sides lock BTC security deposits. If you want to buy XMR with euros or dollars on Bisq, you first need BTC. Its trading fees are 0.15% maker and 1.15% taker when paid in BTC, or roughly half that when paid in BSQ (bisq.wiki).
Bisq 2 launched on 16 March 2024 with a single protocol, Bisq Easy, for buying Bitcoin with fiat. Monero swaps are on its roadmap but not live, according to the Bisq wiki in October 2026.
Safety tips for any P2P Monero trade
- Start with a small trade to learn the process.
- Be careful with reversible payment methods such as PayPal; sellers risk chargebacks and buyers may meet scammers posing as sellers.
- Never move the conversation to Telegram or email, and never release XMR before money has really arrived in your account.
- Withdraw received XMR to your own wallet, such as Feather or Cake Wallet.
- Read Monero scams before your first trade.
No KYC by the software does not mean no rules. Some countries require licences for regular traders, and tax applies to gains in most places. See buying Monero without KYC, is Monero legal? and country pages.
Which should you choose?
- Choose RetoSwap if you want to buy or sell XMR directly against fiat or stablecoins, with Monero-based escrow. It is the most active Haveno network in 2026.
- Choose Bisq 1 if you already hold BTC, want a long track record, and only need XMR/BTC.
- Run Haveno yourself only if you plan to start or join a specific network and understand the arbitration setup.
Frequently asked questions
Is Haveno the same as RetoSwap?
No. Haveno is the open-source software. RetoSwap is an independent trading network that runs it. The Haveno project says it does not endorse any network.
What are RetoSwap's fees?
According to retoswap.com in October 2026, makers pay 0.1%, crypto takers 0.8% and fiat takers 2%. Monero network fees are extra but tiny.
Can I buy Monero with fiat on Bisq?
Not directly. Bisq 1 trades XMR only against BTC, so you need Bitcoin first. Bisq 2 only offers Bisq Easy for Bitcoin, with Monero swaps still on the roadmap.
Do I need Monero to buy Monero on RetoSwap?
Usually you need XMR for the security deposit. Some sellers publish no-deposit offers that you can take with a passphrase they share.
Is P2P Monero trading legal?
In many countries trading your own coins is legal, but some require licences for frequent traders, and tax rules apply. Check your country's rules first.