Summary
The cross-chain swap feature enables you to trade permissionlessly between thousands of cryptocurrencies across multiple blockchains. Access cross-chain swaps in the Bitcoin.com Wallet app from Home > Verse Explorer > Verse DEX > Swap.
This article will guide you through the process of performing cross-chain swaps using Bitcoin.com's decentralized exchange Verse DEX via the Bitcoin.com Wallet app or on the web at Verse DEX. You will also find answers to frequently asked questions.
Table of Contents
How to Perform a Cross-Chain Swap
Inside the Bitcoin.com Wallet app
Get the app: If you haven’t already, download the multichain Bitcoin and crypto wallet trusted by millions. 👉Get the Bitcoin.com Wallet app👈
Navigate: From the app’s home screen, scroll down and tap on Verse Explorer, then select Swap. If you already have the app installed, 👉tap here👈 to go straight to Verse Explorer Swap.
Connect: Tap the Connect Wallet button then choose which of your Bitcoin.com wallets you’d like to connect to the DEX with. Note that at a minimum you should choose the wallet that holds the asset(s) you want to swap. For example, if you are holding USDC in an Ethereum wallet and would like to swap that to fxVERSE in a Polygon wallet, you should connect your Ethereum and Polygon wallets.
Select Your Swap: Choose the chain and token you wish to swap from (e.g., Ethereum chain, and VERSE token).
Choose Your Destination: Select the chain and token you want to swap to (e.g., Polygon chain, and fxVERSE token).
Review: Carefully review the swap details, ensuring everything matches your trading intentions.
Swap: Tap the "Swap" button to initiate the transaction. You’ll be asked to review and confirm.
And that’s it! You’ve successfully swapped across chains using Verse DEX in Bitcoin.com Wallet app!
Outside the Bitcoin.com Wallet app
Navigate: Visit Verse DEX Swap through your preferred web browser.
Connect: Securely connect your preferred Web3 wallet to the platform. For example, you can connect your Bitcoin.com Wallet app by selecting Connect Wallet in the top-right corner of the Verse DEX website, choosing WalletConnect as the connection method, then, in the Bitcoin.com Wallet app, tapping the QR code icon and scanning the QR code displayed on Verse DEX using the camera on your phone. You can also connect to Verse DEX using browser wallets such as Metamask.
Select Your Swap: Choose the chain and token you wish to swap from (e.g., Ethereum chain, and VERSE token).
Choose Your Destination: Select the chain and token you want to swap to (e.g., Polygon chain, and fxVERSE token).
Review: Carefully review the swap details, ensuring everything matches your trading intentions.
Swap: Hit the "Swap" button to initiate the transaction. You’ll be asked to review and confirm.
And that’s it! You’ve successfully swapped across chains using Verse DEX outside the Bitcoin.com Wallet app!
Which chains are supported for cross-chain swaps on Verse DEX?
The Verse DEX currently supports cross-chain swaps on Ethereum, Polygon, Avalanche, and Binance Smart Chain. This means you can swaps between any combination of cryptocurrencies on any of those chains. For example, you can swap between USDC on Avalanche and fxVERSE on Polygon.
Do I need a web3 wallet to perform cross-chain swaps?
Yes, you need a web3 wallet to connect and initiate cross-chain swaps on Verse DEX. Consider using the Bitcoin.com Wallet app, available for android and iOS devices. Ensure your wallet is funded and connected before starting the process.
Can I use a different wallet to receive the swapped tokens?
No, you will receive the swapped tokens in the connected wallet address.
Are there any fees associated with cross-chain swaps?
Yes, there three transaction fees associated with cross-chain swaps.
First is the exchange fee, which varies based on the selected chains, token amounts being swapped, and exchange routes taken.
The second type of fee is the service fee, which is 2% of the swap volume.
The third fee is the network fee, which also depends on the network used.
Can I cancel a cross-chain swap once initiated?
No, once a cross-chain swap is initiated, it cannot be canceled. Ensure all details are accurate before confirming the swap.
How long does a cross-chain swap take to complete?
The time it takes to complete a cross-chain swap depends on network traffic and the specific blockchain. Swaps within the same chain are typically confirmed within seconds. Swaps across blockchains may take up to 30 minutes due to the need to securely bridge the assets across chains.
Are there any restrictions on the tokens that can be swapped across chains?
We support a huge variety of tokens, but may not cover all. If there are any tokens that you want to see added, feel free to reach us out to us at support@bitcoin.com
Are there any limitations on the amount I can swap in a single transaction?
The maximum amount you can swap in a single transaction varies based on the liquidity and specific token pairs. If the amount is too large, there may not be a trade route available to execute the swap, and a notice will be shown to you.
How can I track the status of my cross-chain swap?
The Verse DEX will display the status of swaps in progress. At each stage you have option to tap/click to view details.
What happens if the transaction fails during a cross-chain swap?
If a cross-chain swap fails before bridging:
The gas for the transaction will be spent, but your funds will remain in your wallet.
If a cross-chain swap fails after bridging, the transaction will either be:
Partially successful, and your tokens will be bridged to the destination chain but not yet swapped to the final asset. These bridged tokens will be available in your wallet.
Failed, and your tokens will be bridged back and refunded to your wallet.
Please double-check your wallet balance and transaction history. If you encounter any issues, contact our support team for assistance at support@bitcoin.com.
Is there a minimum balance requirement in my web3 wallet to perform a cross-chain swap?
While there's no specific minimum balance requirement on Verse DEX, ensure your wallet has enough funds to cover the transaction amount and associated fees.
Are cross-chain swaps on Verse DEX subject to slippage?
Yes, cross-chain swaps are subject to slippage, especially during periods of high volatility. We apply a slippage limit of 3%, which means trade routes that would incur higher slippages will be excluded automatically. Please review the rates and fees before confirming the swap.
How often are new tokens added to the Verse DEX platform for cross-chain swaps?
New tokens are added automatically once they are funded with liquidity on any major DEXs, including the Verse DEX. If there are any tokens that you want to see added, feel free to reach us out to us at support@bitcoin.com.
Can I view my cross-chain swap history on Verse DEX?
Swap history is not available for multi-chain swaps. Please refer to the transaction history in your wallet.
Can I provide liquidity for cross-chain swaps on Verse DEX?
You can provide liquidity on Ethereum pools on the Verse DEX here: https://verse.bitcoin.com/pools/eth/
Are there any plans to expand the number of supported chains on Verse DEX for cross-chain swaps?
While the current focus is on Ethereum, Polygon, Avalanche, and Binance Smart Chain, Verse DEX may explore additional blockchain integrations in the future based on user demand and technological advancements. Keep an eye on official communications for updates.