How to exchange Monero for Bitcoin?

The number of platforms through which you can exchange Monero cryptocurrency for fiat and digital assets is getting smaller and smaller. However, you can still find services for converting Monero to Bitcoin, other cryptocurrencies, or fiat on BestChange.

Where can exchange Monero for Bitcoin?

Due to regulatory concerns, there aren't many options to exchange XMR for BTC or other assets, as anonymous cryptocurrencies are increasingly being removed from centralized exchanges, including P2P platforms. Transactions in networks like Monero are extremely difficult to trace, as this blockchain contains a mechanism whose main task is to break the connection between the addresses of senders and receivers.

For example, in a blockchain browser such as Monero Explorer, users can only see the transaction amount, but the sender and receiver addresses are not displayed.

However, quite a few exchanges still allow you to exchange Monero for Bitcoin.

XMR to BTC exchange: step-by-step instructions

Step 1: Searching and selecting an exchanger

On the BestChange homepage, there is an exchange table where the user must first select the conversion direction (in this case, Monero XMR → Bitcoin BTC).

After that, you will see a list of exchangers suitable for the selected direction of exchange. All exchangers are summarized in one convenient table, where the user can find all the necessary information, including the exchange rate, data on reserves, the mode of operation of exchange offices, and so on. Any of the available parameters can sort the table with exchangers.

By default, the exchangers offering the most favorable exchange rate are at the top of the table. If the exchange rate changes, the order of exchangers will also change in real-time.

To proceed to the next step, the user must select any exchanger in the table and go to its website.

Step 2: Start the transaction

The first step of the transaction is filling out the application form. Users need to specify all the data that the exchanger requires. Usually, these data include the exchange amount, bitcoin wallet address, and email. The latter is required to send a check to the user after the transaction is completed and, in some cases, to register on the service's website (some exchangers allow only registered users to exchange assets).

Important point: Many users may notice that the Bitcoin wallet displays different addresses when copied. All these addresses belong to the same wallet and are compatible with each other so that you can tell the exchanger any of the presented address variants:

• 1... (Legacy);
• 3... (SegWit);
• bc1... (Native SegWit);
• bc1... (Taproot).

The exchange rate is not affected by the choice of address, but it is best to use the newer SegWit and Native SegWit address formats — they are used most often.

Many exchangers perform AML checks on transactions. Monero belongs to a special category of cryptocurrencies, so some transfers will be verified in accordance with AML rules. If the check reveals irregularities, such as the use of mixers, the user's assets may be blocked.

After sending the completed application form, the exchanger will send back an address where the exact amount of XMR coins must be sent.

Step 3: Sending and receiving cryptocurrency

The last step is sending XMR cryptocurrency to the wallet address provided by the exchanger. It is worth noting that address formats in the Monero network can also differ.

Standard Monero addresses consist of 95 characters and start with symbols 4 or 8, but they are not often used due to inconvenience. Therefore, exchangers often use shorter accounts instead, consisting of numbers, letters, and sometimes even OpenAlias domains. It doesn't matter what address to send XMR to as long as these options support the user's wallet.

After sending the cryptocurrency, waiting while the network miners process the transaction will be necessary. Most exchangers require at least 10 confirmations on the Monero network (the status can be tracked via Monero Explorer by transaction ID or hash) before they consider the transfer complete and send the bitcoins to the user's wallet.

Upon successful confirmation of the XMR transfer, the exchanger will send the bitcoins to the user at the specified BTC wallet address and provide a hash of the transaction, which can also be used to track its status in real-time. On the Bitcoin network, transfers can take anywhere from a couple of minutes to several hours, depending on the current load on the blockchain and the fee set by the sender.

Any disputable issues, if any, can be resolved with the help of the exchanger's support service or the BestChange service.