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Author Topic: Any Dex for BTC to stablecoins exchange?  (Read 1253 times)

Offline hugeblack

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Re: Any Dex for BTC to stablecoins exchange?
« Reply #15 on: February 22, 2024, 09:29:49 AM »
dYdX.trade would be a great decentralized exchange. As far as I remember there's no KYC and you control your coins.

Some documentation: https://docs.dydx.trade

Thorswap.Finance allows you to swap native Bitcoin for several stablecoins but they only support a few blockchains. There is no Tron or Polygon, for example, but they do have ETH, AVAX, and BSC available.

I will do more research and may use these two platforms:

 - https://dydx.trade/
 - Thorswap.Finance

I haven't tried USDT on Liquid so it will be a good experience.
Are there any recommendations or additional information you can provide?

exch.cx has a good reputation in the forum, I will wait to see how they update their data policy before using it, but it will be my first choice in the future unless there is any change.
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Re: Any Dex for BTC to stablecoins exchange?
« Reply #15 on: February 22, 2024, 09:29:49 AM »

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Online Fivestar4everMVP

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Re: Any Dex for BTC to stablecoins exchange?
« Reply #16 on: March 16, 2024, 01:26:37 PM »
What I'm looking for is something simple, an exchange that's decentralized or at least doesn't require KYC verification, is reliable, and I can easily exchange Bitcoin into stablecoins? Is there a decentralized exchange that does this?
If what you mean or looking for is the ability to exchange the L1 bitcoin to a stable through a fully decentralized exchange, then I honestly do not think such exist, and it's because until the arrival of ordinals, it's impossible to build smart contracts on bitcoin L1 blockchain, and we all know that decentralized exchanges only function as smart contracts built and is running on the blockchain.

The only way to be able to convert bitcoin to stablecoin through decentralized exchange if you would first convert your bitcoin to wrapped bitcoin on any other blockchain like Binance smart chain, ethereum, Solana and so on, then you can use decentralized exchanges on any of this blockchain to easily switch or shift from wbtc to stable coin and vise versa.

Edit: contrary from what I said above, I think I remember that it is actually possible to convert native bitcoin to any supported stable coins on dapp.chainge.finance, I've actually used this Dex exchange a couple of time, but it's been a while so I forgot, you can give it a try.
« Last Edit: March 16, 2024, 01:30:24 PM by Fivestar4everMVP »
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