Making Your First Swap

As simple as a few button clicks, learn how to make Secure, Efficient, Easy Cross-Chain Swaps with the Blockswap bot.

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Last updated 1 year ago

Making Your First Swap

As simple as a few button clicks, learn how to make Secure, Efficient, Easy Cross-Chain Swaps with the Blockswap bot.

Open the Bot on Telegram

First, navigate to after opening with Telegram, you'll see a chat window that looks like this

Clicking 'Start' will give you a variety of options, but we are going to go straight to swaps. To do this, I click the first option the menu brings up, 'Swap'.

Select Asset to Deposit

You are presented with assets to deposit or spend, this is the output token of your swap - if you want to swap ETH for Bitcoin for example you select ETH as the currency to spend.

Select Asset to Receive

Then you are prompted for the asset you wish to receive, so in this example i'll select Bitcoin.

Select the Amount to Spend

Now I've chosen ETH, I'm prompted to enter how much I'd like to trade. I can choose one of the presets, or enter a custom amount. I'd like to trade 0.1 ETH, so I simply enter it into the chat or send it as a message

Enter Your Receiving Wallet Address

Now it's time for me to enter the wallet address where I would like to receive my Bitcoin to. I enter my public address into the chat and then send it as a message.

Confirm Receiving Wallet and Swap Amount

I check over my details and see they are correct, so I click 'Confirm'.

Quote and Send to Deposit Address

Once confirmed, you will be given a the swap quote and a unique deposit address to send your native tokens. You can follow the link to Chainflip's official block explorer to verify the address for security.

In this case, I have been given an Ethereum address to send the exact amount of 0.1 ETH to.

Confirm in Your Wallet

As I'm sending ETH, I am using metamask, but Bitcoin wallets will differ. (On mainnet, all swaps will also take place on mainnets, not Goerli as it states below).

Here we've entered the deposit address as given in the bot, then the exact amount of ETH to send.

Waiting for the Swap to Complete

When the funds are received by the deposit address, you will see a notification on Blockswap.

Depending on network activity, time taken for swaps will differ, but that's it on your end. You can now sit back and leave it to the Chainflip network to complete your cross chain swap at the best possible price. You can follow the execution path at any time via the chainflip official website link.