How to Place Order
BitcoinAtom • Swaps simplifies technical difficulties involved in swapping between two non-custodial wallets with different cryptocurrencies and reduces the whole process to just a few clicks. In the right panel select Trade on the top.
Choose which cryptocurrencies you want to swap, and in which amount, in the example below BTC is being swapped for ETH, specifically 0.00001 BTC for 0.00013271 ETH. BitcoinAtom • Swaps pulls in a suggested amount of currency for which you’re swapping, based on the prevailing market prices, but you may change this amount if you would like to wait for a better price, and press <Place Order>.
Note, that due to current limitations of atomic swaps functionality if you’re swapping an asset other than ETH for another asset you must have a small amount of ETH already in your wallet to pay gas fees — we are working on making this simpler but for now, maintain just a little amount of ETH in the wallet in which you intend to trade various cryptocurrencies for everything to function smoothly.
After successfully placing an order, you will see it appear in the Active Orders section of the Trade screen.
Once another user matches your order with an opposite order you will see various steps of the swap appear in the Swaps in progress section of the Trade screen.
There are many steps to a swap, which assure a successful trade of assets between wallets, and with both parties in the swap retaining their private keys. The swaps in progress section may get verbose — it’s not necessary to understand every status just understand that you must wait until the swap is finished as speed limitations are based on ETH and BTC blockchain networks. Typically ETH is quick and can take a few minutes, while BTC could possibly take up to 20–30 minutes depending on network congestion.
Once the swap is done, you can go to the History tab in the right panel and then Transactions on the top, and you will confirm that a debit of ETH which we swapped for BTC, now shows a credit. It’s that simple.
To verify that everything is done on-chain you can verify addresses and contract deployment per the screen below in your favorite blockchain explorer as follows:
https://blockchair.com/ethereum/address/0xe87e7232186a7b3444374b0d36c08802dc4c0288
