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Exchange swaps

Biscuit asks Trocador for offers from many exchanges at once, and shows them best first, ranked by one thing: what you actually receive. Only exchanges rated A by Trocador are shown: the ones that don’t ask for your identity.

Step by step

  1. On Swap, choose what you send, what you get, and the amount. From wallet picks which of your wallets pays.
  2. Fixed or Floating: with a fixed rate you get exactly the amount shown; with a floating rate, you choose what you send and what you get follows the market, a little up or down.
  3. Receive at: a new address in your own Biscuit wallet, or another address you paste. Refund to: where the coins go back if the swap fails.
  4. Get offers, pick one, and Create swap. Biscuit shows the exact amount to send and the exchange’s deposit address.
  5. Send from this wallet… pays the deposit for you, after you confirm. You can also send it from another wallet.
  6. Follow it under History. It resumes if you close Biscuit.

Exchanges need the deposit confirmed before they send: minutes for Litecoin, longer for Bitcoin, about 20 minutes for Monero.

If something goes wrong

Double-click a swap in History for its details: the Trade ID, the Exchange ID, the deposit transaction and the exchange’s support link. Keep these: exchanges delete trades after a while, and they’re stored encrypted in your wallet file, not restored from seed. A swap that “needs attention” usually means the exchange wants to talk to you: contact its support with these identifiers.

Fees and privacy

  • Biscuit never adds a fee. It may receive a share of the exchange’s fee: you pay the same as on the exchange, and the ranking never depends on it.
  • Exchange swaps go through Biscuit’s server, which holds our partner key with Trocador. Our server, Trocador and the exchange see the swap and your IP address: see the privacy policy for what is kept.
  • They’re off in Tor mode, and on Tails and Whonix: our swap partner requires us to record the IP address each swap is created from, and a Tor address can’t be traced, so our server refuses swaps from Tor. Swaps already running can be followed again once Tor mode is off.