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What are Cross-Chain Swaps?

Gem Wallet provides a seamless way to swap assets across different blockchains, ensuring a decentralized and secure trading experience. A cross-chain swap enables the exchange of cryptocurrencies between different blockchain networks without the need for a trusted intermediary.

Leveraging the power of THORChain Swap, Gem Wallet enables trustless and efficient cross-chain transactions directly from your wallet. This decentralized process ensures security and transparency, powered by technologies like atomic swaps and cross-chain bridges.

For instance, if you hold Bitcoin but need Ethereum to use a dApp, a cross-chain swap allows you to make this trade directly, without converting assets through multiple exchanges.

Powered by THORChain​

Gem Wallet integrates the THORChain Swap protocol, a decentralized liquidity network that facilitates seamless cross-chain swaps. By leveraging THORChain Swap, Gem Wallet provides access to a wide range of cryptocurrencies without requiring a centralized exchange or wrapping tokens. This ensures a truly decentralized and secure swap experience.

With THORChain Swap, users can enjoy direct transactions across popular blockchains such as Bitcoin, Ethereum, Smart Chain, and more across their native blockchains, leveraging THORChain's robust liquidity pools.

How Cross-Chain Swaps Work in Gem Wallet​

Gem Wallet simplifies cross-chain swaps using its user-friendly interface, powered by THORChain Swap. Here's how it works:

  1. Select Your Assets: Choose the cryptocurrency you want to swap and the one you wish to receive.
  2. Verify Network Compatibility: Ensure the blockchains of the chosen cryptocurrencies are supported for cross-chain swaps.
  3. Initiate the Swap: Enter the amount, confirm the transaction, and let Gem Wallet handle the rest.
  4. Receive Funds: Once the swap is complete, the funds will be available in your wallet.

The integration with THORChain Swap ensures that your swaps are decentralized and trustless, giving you full control over your private keys throughout the process.

Why Use Cross-Chain Swaps in Gem Wallet?​

Cross-chain swaps offer significant advantages, especially for users who frequently trade across different blockchain ecosystems. With Gem Wallet, you get:

  • Interoperability: Access assets across multiple blockchains without limitations, powered by THORChain's liquidity network.
  • Security: No intermediaries mean less risk of hacking or fraud.
  • Ease of Use: Intuitive interface for swapping cryptocurrencies quickly and efficiently.
  • Cost Efficiency: Save on fees compared to traditional multi-exchange conversions.

Supported Swaps​

Gem Wallet supports cross-chain swaps across various popular blockchain networks through THORChain Swap. Here is the list of currently supported assets:

  • Bitcoin (BTC)
  • Ethreum (ETH)
  • Smart Chain (BNB)
  • Litecoin (LTC)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • Cosmos (ATOM)
  • ERC20 tokens namely USDC and USDT that are on Ethreum and Smart Chain.

Here are just a few cross-chain swaps that are possible through Gem Wallet:

Bitcoin (BTC) ↔ Ethereum (ETH)​

Input the amount of Bitcoin that you want to swap to Ethereum.

BTC to ETH Swap Input BTC to ETH Confirm Swap

Transaction has been submitted to the THORChain network. Wait for the confirmation.

BTC to ETH Pending Swap BTC to ETH Swap Confirmed

Slower chains like Bitcoin and Ethereum takes a longer time to complete a swap. Please be patient.

BTC to ETH Swap in Progress BTC to ETH Swap Completed

Ethereum (ETH) ↔ Smart Chain (BNB)​

Input the amount of Ethereum that you want to swap to Smart Chain.

ETH to BNB Swap Input ETH to BNB Confirm Swap

Transaction has been submitted to the THORChain network. Wait for the confirmation.

ETH to BNB Pending Swap ETH to BNB Swap Confirmed

Smart Chain will be sent automatically once the swap has been successfully completed. Please be patient.

ETH to BNB Swap in Progress ETH to BNB Swap Completed

Smart Chain (BNB) ↔ THORChain (RUNE)​

Input the amount of Smart Chain that you want to swap to THORChain.

BNB to RUNE Swap Input BNB to RUNE Confirm Swap

Transaction has been submitted to the THORChain network. Wait for the confirmation.

BNB to RUNE Pending Swap BNB to RUNE Swap Confirmed

THORChain will be sent automatically once the swap has been successfully completed. Please be patient.

BNB to RUNE Swap in Progress BNB to RUNE Swap Completed

important

You can check the status of your swap by going to Runescan and then search for your address.

Get Started with Cross-Chain Swaps Today​

With Gem Wallet and THORChain, cross-chain swaps are easier than ever. Whether you're diversifying your crypto portfolio or simply trading for convenience, Gem Wallet ensures you can access a wide range of assets securely and efficiently.

Start swapping now and experience the power of true blockchain interoperability.