Monero atomic swap vs instant swap: how they work and which to use
Both get you XMR without an account. One is enforced by two blockchains and works mainly with Bitcoin; the other is run by a service and works from more coins. What each costs you in time, coins and risk.
Wagyu teamUpdated 6 min read- total volume through Wagyu
- $1.3B+
- orders completed
- 35,300+
- account needed to swap
- 0
- SOL to XMR swap time
- 1 min
A Monero atomic swap lets you trade Bitcoin for XMR with another person's software, with the two blockchains enforcing the trade: either both sides get paid or both get their coins back. It is the most trust-minimized option, but it works mainly with BTC, needs desktop software, and a stalled swap takes hours to refund. An instant swap, such as a BTC to XMR swap on Wagyu, takes more coins and runs in your browser, but a service executes the trade and sends your payout.
Key takeaways
- Atomic swap: no one can take your coins, but you must watch the refund window if a swap stalls.
- Atomic swaps to XMR exist in practice for BTC and a few other coins, not for ETH, SOL or stablecoins.
- Instant swap: more coins, both directions, no software, and you rely on the service to pay out.
- Neither needs an account. Both need your own Monero wallet first.
What is a Monero atomic swap?
An atomic swap is a trade between two blockchains where either both sides get paid or both sides get their coins back. Neither party can run off with the other's funds: the rules are enforced by the two blockchains, not by a company.
For Monero, the trade is usually Bitcoin against XMR. The buyer locks BTC in a special Bitcoin transaction. The seller, called the maker, then locks XMR. Once both locks are confirmed, the buyer gives the maker a signature to claim the BTC. Claiming it on chain reveals the key the buyer needs to take the XMR, so one side cannot be paid without the other.
- Maker
- The party that offers XMR for BTC, at its own minimum, maximum and markup.
- Taker
- The party that accepts an offer and locks BTC first.
- Timelock
- A delay written into the Bitcoin lock, after which a stalled swap can be cancelled and refunded.
How a BTC to XMR atomic swap works in practice
A widely used tool today is eigenwallet, formerly UnstoppableSwap, a desktop app built on the original COMIT protocol. A swap goes like this:
1. Install the app and fund it
The app has a built-in Bitcoin wallet that you fund first.
2. Pick an offer from a maker
Each maker sets a minimum, a maximum and a markup over the exchange rate.
3. Lock your BTC
Your BTC is locked on chain, then the maker locks XMR, which must reach ten Monero confirmations.
4. Receive XMR
The swap completes and the XMR lands in your Monero wallet.
If something goes wrong, the protocol has a safety net with two clocks.
Cancel window
- Opens after 30 Bitcoin blocks, about 5 hours
- Either side can then cancel
Refund window
- 144 Bitcoin blocks after the cancel, about 24 hours
- Open the app in that window to claim the refund
Which coins can you atomic swap with Monero?
| Pair | Atomic swap today | Instant swap on Wagyu |
|---|---|---|
| BTC to XMR | Yes, with eigenwallet or BasicSwap | Yes |
| XMR to BTC | eigenwallet only buys XMR; selling needs BasicSwap or running a maker | Yes |
| LTC, BCH, DASH, DOGE and a few others with XMR | BasicSwap | No |
| ETH to XMR | The reference implementation was archived in 2023 | Yes |
| SOL, USDC or USDT to XMR | No | Yes |
If you hold Ethereum, Solana or a stablecoin, there is no practical atomic swap to Monero: you would first have to buy BTC, then atomic swap it. Wagyu has direct routes: ETH to XMR, SOL to XMR, USDC to XMR and USDT to XMR. To sell Monero for Bitcoin, use XMR to BTC.
Monero atomic swap vs instant swap, side by side
| Feature | Atomic swap | Instant swap on Wagyu |
|---|---|---|
| What enforces the trade | The two blockchains | The service executes it and pays out |
| Coins | BTC, more through BasicSwap | BTC, ETH, SOL, USDC, USDT, ZEC |
| Directions | Mostly buying XMR | To and from XMR |
| Software | Desktop app | Browser, no account |
| Typical time, BTC to XMR | Bitcoin confirmations plus ten Monero confirmations | 30 minutes |
| Typical time, ETH to XMR | Not available | 2 minutes |
| If it stalls | Cancel after about 5 hours, refund within about 24 hours | The order shows its recovery steps |
| Cost | Maker markup plus Bitcoin network fees | Wagyu fee, 2% on BTC to XMR, plus network fees |
| Minimum | Set by each maker | $40 on BTC to XMR |
The time for an instant swap is the typical time on that route, shown live. What happens to an order that stalls or fails is described in the order lifecycle docs.
| Route | Default network | Minimum | Typical time | Fee | Route |
|---|---|---|---|---|---|
| BTC to XMR | Bitcoin | About $40 | About 30 min | 2% | BTC to XMR |
| XMR to BTC | Monero | About $25 | About 25 min | 0% | XMR to BTC |
| ETH to XMR | Ethereum | About $20 | About 2 min | 2% | ETH to XMR |
| SOL to XMR | Solana | About $20 | About 1 min | 2% | SOL to XMR |
| USDC to XMR | Arbitrum | About $20 | Under 1 min | 2% | USDC to XMR |
| USDT to XMR | Ethereum | About $20 | About 2 min | 2% | USDT to XMR |
Which one should you use?
Choose an atomic swap if
You hold BTC, you want no intermediary in the trade at all, and you can keep a desktop app installed until the swap or its refund is done.
Choose an instant swap if
You start from ETH, SOL or a stablecoin, you want to sell XMR as easily as you buy it, you are on a phone, or you want the swap done in minutes on fast chains.
Both need the same first step: a Monero wallet you control, such as Feather, Cake Wallet or one of the official Monero wallets. Neither asks for an account or an ID. The guide how to buy Monero without KYC compares the instant swap routes in detail.
What about Haveno and peer-to-peer markets?
Haveno is a peer-to-peer market, not an atomic swap. Buyers and sellers lock funds in Monero multisig, and an arbitrator settles disputes without access to the funds. It is one way to trade XMR against currencies such as USD, EUR or GBP, which neither atomic swaps nor Wagyu do. Trades depend on finding a counterparty and can take hours or days when bank payments are involved.
FAQ about Monero atomic swaps
What is a Monero atomic swap?
A trade of Bitcoin for Monero, or the reverse, where both sides lock their coins on their own blockchains and the trade either completes for both or refunds both. No company stands between the two sides.
Are Monero atomic swaps safe?
The protocol stops the other party from taking your coins, but you must keep the app and claim your refund in time. A stalled swap can be cancelled after about 5 hours, and you then have about 24 hours to refund before the maker can take the BTC.
How long does a BTC to XMR atomic swap take?
When it goes well, the time for your Bitcoin lock to confirm plus ten Monero confirmations, about twenty minutes, for the maker's XMR lock. When it fails, the refund path can take more than a day.
Can I atomic swap ETH or USDT for Monero?
Not in practice. The ETH to XMR atomic swap implementation was archived in 2023, and stablecoins have no atomic swap route to Monero. An instant swap such as ETH to XMR or USDT to XMR works instead.
Is Wagyu an atomic swap?
No. Wagyu is an instant swap: you send coins to a one-time deposit address and receive XMR at your own address once the trade is executed. It takes more coins and needs no software.
Is Haveno an atomic swap?
No. Haveno is a peer-to-peer market that uses Monero multisig and arbitrators. It is useful for trading XMR against currencies such as USD or EUR.
Written by the Wagyu team
Wagyu offers swaps between Monero, Zcash and supported networks, plus a native Monero bridge to Hyperliquid.