Bitcoin-Monero Swaps: A Guide to Private Crypto Transfers

Bitcoin and Monero are two distinct cryptocurrencies that solve different problems in the digital landscape.

While Bitcoin is a transparent ledger where every transaction is publicly recorded, Monero conceals sender, receiver, and amount by default through its use of ring signatures, stealth addresses, and confidential transactions.

When swapping between these assets, it's essential to understand the mechanics involved. There are two types of swaps: custodial and non-custodial. Custodial exchanges hold your funds during the trade, whereas non-custodial platforms like GhostSwap don't hold balances and execute trades through their liquidity.

A non-custodial swap takes around eight minutes and involves five inputs. To initiate a swap, select the pair (Bitcoin to Monero in this case), choose between floating or fixed rates, enter the receiving Monero address, specify a refund address for automatic return in case of issues, and send your Bitcoin to the deposit address.

Network fees are charged by both the Bitcoin and Monero networks, varying with congestion. It's crucial to read the total quote, including service fees and network charges, rather than focusing solely on the headline percentage. Fixed-rate swaps offer certainty but at a slightly worse rate compared to floating rates.