The demand for Monero amongst blockchain traders can be attributed to its anonymity feature. This could be explained by the need for privacy and security in transactions – Monero is confidential. So do you want to swap BTC to XMR? Here is a guide on swapping Bitcoin to Monero.
Converting Bitcoin to Monero is now available. This development follows Monero’s founders’ announcement, thanks to the creation of atomic software and the COMIT network. This makes it easier for traders to conveniently buy, sell, and exchange Bitcoin to Monero. After this development and announcement was made, Monero’s value has significantly increased.
Monero transactions are confidential, and you cannot track them. Even so, exchanging Bitcoin to Monero has been made possible with ring signature technologies, stealth addresses, and bulletproofs. In addition, the atomic swap development guarantees privacy, simple, and safe transactions.
How converting Bitcoin to Monero works
Bitcoin exchanges are not as private as Monero when carrying out transactions. Because of this difference, Monero founders devised a way to cushion the absence of anonymity by introducing special software through COMIT technology. This way, traders can swap the two cryptos without worrying about their identity leaking. It means that there is no way anyone can trace the transactions, including the number of tokens you swap.
Extra caution is essential with the anonymous transaction feature as you cannot reverse or undo any mistake you make during the conversion process. This is why you need to follow a credible guide before placing your request.
How to Swap Bitcoin to Monero Step-by-step
There are many exchange sites you can choose to process your transaction. It helps if you are certain about credibility, pricing, and how fast you can get new cryptos. Alligat0r.com is an exchange aggregator site that can help you process your transactions in no time. Here is a procedure you can follow to swap Bitcoin to Monero.
- Visit Alligat0r’s homepage if you love the site’s features.
- Check the screen page and locate swap Bitcoin to Monero and select it.
- Next, enter the exact amount of Bitcoin tokens you want to convert. The server will provide an estimated amount of Monero tokens you will receive.
- Click the ‘exchange’ tab if the details you provided are accurate (you can still edit the information if you are doubtful).
- Provide a Monero address to store the new tokens you are converting.
The next tab displays the conversion rate, how long it will take, and the details of your transaction request (amount and XMR wallet address). Finally, click confirm to facilitate swapping – it takes a few minutes to complete the process.
The Bitcoin to Monero swapping process is not similar when swapping Monero to Bitcoin. You will need an exchange site that deals with Monero to Bitcoin conversions – research before initiating the process.
It is now possible to swap Bitcoin to Monero after the inception of atomic technology. You will need COMIT software to process the conversion or find a conversion site to help you swap the cryptos.