Best Platforms to Swap Bitcoin for Monero: Top 5 Picks

• Blockchain Council
• September 11, 2024

Bitcoin and Monero are two of the most popular cryptos in the ecosystem. Bitcoin, for instance, was the first blockchain to be created. Meanwhile, Monero is the top privacy-oriented coin. While other projects include privacy as an optional feature, Monero ensures that all transactions are completely private. 

Then, what’s the best way to convert BTC to XMR? There are plenty of exchanges available. So, before making a decision, you should evaluate some key aspects of each platform.

What to Consider When Choosing an Exchange

The first aspect to consider is the security and trustworthiness of the platform, as well as regulatory compliance. You should evaluate the historical performance of the platform and check some reviews made by other users and customers. 

Other things to take into account to ensure the best experience during your trade are the fees charged and the transaction speed. Some exchanges can be trustworthy, but they charge high fees or have low liquidity and trading volume. 

It’s also important to look for clean and intuitive interfaces. Since you’re dealing with valuable assets, a confusing or cumbersome platform can lead you to make mistakes during the trade.

Top 5 Exchanges for Converting BTC to XMR

Now we’ll review some of the best platforms to swap your BTC for XMR. We’ll cover some custodial exchanges, where you have to make a deposit to the platform’s wallet first, as well as noncustodial ones, where you only need to send the BTC and then receive the XMR in your own wallet.

1. Godex

Godex is a non-custodial exchange with up to 900 currencies supported. It has been operating reliably for eight years, and it’s available both on https://godex.io/ and as an Android app. 

You can get a fixed or a floating rate. In the first case, the price is set despite changes in the price. With the floating rate, the amount of XMR you get may vary if the price of the assets changes. A very important feature of Godex is that you don’t need to create an account or provide any personal ID. The process is completely anonymous.

2. SimpleSwap

SimpleSwap works similarly to Godex. It’s also non-custodial and also offers fixed and floating rates. In addition, this platform also allows users to buy cryptos using Visa cards and supports around 1,000 coins. 

You can use SimpleSwap through the website, or you can download the Android or iOS app. Creating an account is not necessary for this platform either, but doing it offers additional features, like cashback rewards and exchange history.

3. Atomic Wallet

Atomic Wallet is a coin storage software that allows users to perform atomic swaps. This technology, launched in 2018, facilitates cross-chain transactions without using a middleman. It supports over a thousand assets, and users can buy cryptocurrencies using credit cards. 

The Atomic Wallet app is available on most personal computer and mobile phone operating systems. It doesn’t require users to enter any personal ID, so it’s completely secure and anonymous.

4. LetsExchange

LetsExchange offers over 4,000 coins to exchange on its platform. Like other exchanges listed here, you can use it to buy cryptocurrencies. It also features a bridge section, where you can swap different versions of a token across varying blockchains. For example, you can deposit USDT in the Tron network, and receive USDT in the Ethereum network.

5. Binance

Binance is a centralized, custodial exchange. Unlike other platforms listed here, you need to deposit your funds in the Binance wallet in order to trade. However, it offers a wider array of features. 

Besides swapping your BTC for XMR, you can also stake assets, trade using the P2P platform, or buy crypto using credit cards. Binance also allows you to do spot and futures trading. However, you need to provide ID verification to comply with the KYC policies of the company.

Ensuring a Secure and Private BTC to XMR Exchange

These exchanges are some of the best options to trade BTC to XMR. Each one has its unique features and functions. Also, there are different degrees of privacy and anonymity, so the decision on which one is better depends on what you need, and how much personal information you’re willing to share.