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BTC-XMR Atomic Swap Goes Live on Monero Network with First Providers Joining In

Fri, 08/20/2021 - 17:31
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Arman Shirinyan
Monero has just become a little more private
BTC-XMR Atomic Swap Goes Live on Monero Network with First Providers Joining In
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A Bitcoin-Monero atomic swap went live on the Monero network back in May, but the first atomic swap providers are starting to appear only now. 

According to the latest tweet, an individual Monero user has become one of the first providers on the network. Now, all Monero users are able to perform swaps by using a command-line interface (CLI). 

As mentioned in the tweet, the exchange is being provided with a relatively large 20 percent fee that is commonly used in Bitcoin ATMs. The community is looking forward to reducing the fee, with some additional swap providers now appearing on the network. 

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Atomic swaps allow their users to swap or exchange their coins without the involvement of third parties in a fully decentralized manner. Since Monero is positioned as a “privacy coin,” atomic swaps were highly anticipated by the community due to the centralized nature of most exchanges.

As for now, users have to use command-line interfaces in order to perform swaps. Developers promise that graphic interfaces are going to be implemented soon.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.