On each service covered here, you maintain control of your coin keys, and none requires ID up front for a standard trade. However, Peach Bitcoin has begun requesting ID from some sellers. The methods each service employs differ. Atomic swaps such as BasicSwap and eigenwallet trade between two chains without a middleman, and timelocks return your coins if the other side walks away. DEXs, including Uniswap and Jupiter, complete swaps that are signed within your personal wallet.
On most P2P markets, the coins are held in escrow while you complete the payment to the other party. At Bisq, the trade amount is secured in a 2-of-2 multisig wallet between the two traders. Hodl Hodl uses a 2-of-3 multisig setup where it retains one key but cannot move funds independently.
Two limitations are notable. Holding the keys does not make you invisible. Bank transfers will still appear in your account records, and the Uniswap Labs interface screens connected wallet addresses. Certain services maintain a role: RoboSats briefly holds funds while transferring to the buyer, and LocalCoinSwap resolves disputes using its escrow signature. In our view, check who can sign before you lock coins.