For those of you who don’t know what I am talking about, here is the thing:
Monero is completely anonymous when you own it, but we all need to transact with it. In comes Bitcoin Cash. To supplement this lack of anonymity, many XMR users convert their Monero into Bitcoin Cash because it breaks the chain and makes them completely anonymous.
However, I understand, your reason for exchanging or converting XMR to BCH might be something else. But whatever it is, you need to do this exchange with extreme caution because crypto transactions are irreversible.
So to help you out precisely with that we have come up with this step by step guide on converting your XMR into BCH in the least possible time with safety.
We have chosen, Cryptmixer cryptocurrency swap service for this tutorial because it is one of the most user-friendly services to exchange one currency to another.
Let’s jump right into the step by step process:
How & Where To Exchange Monero (XMR) To Bitcoin Cash(BCH)?
Step #1. Go to Cryptmixer [No KYC & No Sign-up]
You should see this screen where you can select Bitcoin Cash Exchange. Do mention the correct amount of XMR you want to exchange. Doing this will automatically show you the amount of BCH you will be receiving after the conversion is complete.
Step #2. Here click on the ‘Start’ option shown in the above image to see the below-shown screen. You can even change the amount of XMR you wish to exchange here too. The exchange fee is set to 0.05% of the transaction.
Here they will ask you for your Bitcoin Cash address. If you don’t have the Bitcoin Cash address, we suggest you choose a wallet from some of the best Bitcoin Cash wallets and get an address for yourself. This is the BCH address on which you will get your Bitcoin Cash once the exchange has been completed.
Step #3. After adding the Bitcoin Cash address, click on “Confirm” as shown in the above image. Once you do that you will be shown details of your conversion such as BCH address, fees, time for conversion, etc. Verify the details intently on this page before moving forward for the actual exchange.
Step #4. Once you have checked all the details, click on ‘Start’ shown in the above screen.
You should now see a screen asking you to send the XMR first on a given address. Don’t worry; this is how it is supposed to work when you use Cryptmixer. You need to provide the relevant currency first after which you receive the other currency. Take out your Monero wallet and put the shown address to send your Monero on it.
Note: You have 24 hours to send funds otherwise the transaction will be canceled automatically, but I suggest you send it ASAP before the exchange rate of XMR changes.
Step #5. As soon as you send your Bitcoin Cash to the shown address, you will start seeing this screen ‘transaction is being confirmed.’ It means your transaction is processing and will be confirmed by the Monero blockchain soon. Usually, it takes 10 confirmations for depositing Monero which can take up to an hour in case of congestion on the blockchain.
The swapping process itself happens almost instantaneously, but the blockchain network takes the rest of the time. Typically, the exchange comprises of these three stages:
Exchanging XMR to BCH
Sending Bitcoin Cash to your wallet
Step #6. Wait with patience, and as soon as your conversion from XMR to BCH is completed, you will see this screen showing you all the details of the transaction.
You can check your transaction details on the respective blockchain also.
Congratulations, Tada….!!! You have done it
Is It like Exchanging Bitcoin Cash?
Some people mistake this for sending Monero to the network and think that its Monero’s blockchain that is doing the conversion for them.
But that’s far from reality.
In this conversion powered by Cryptmixer, it acts like a mediator who facilitates the conversion of XMR to BCH. Moreover, Cryptmixer is worth relying on such exchanges because it has made a name for itself doing the same for last 5 years in this industry
So what are you thinking?
Check Out Cryptmixer for free now
Note: We have used the example of XMR to BCH in this tutorial, but the process of converting any other currency to another one is the same, so feel free to try out Cryptmixer for that too !!
If you liked this guide, please share it with your friends & family member who wishes to exchange XMR to BCH or vice versa !!