How to Swap BTC to ETH (and ETH to BTC) on THORChain
Convert Bitcoin to Ethereum — or Ether back to Bitcoin — natively on THORChain, without bridges, wrapped tokens, or KYC. This guide walks through the end-to-end flow and the fees you'll pay.
1 BTC = 36.11064 ETH
1 ETH = 0.027693 BTC
Why THORChain for BTC ↔ ETH
THORChain is a decentralized cross-chain liquidity network. Every non-RUNE asset is paired with RUNE in an AMM pool, and swaps route through RUNE as the intermediate asset: BTC → RUNE → ETH (or ETH → RUNE → BTC for the reverse). You never hold a wrapped token, never pass through a custodian, and never sign a KYC form. The BTC you send lands in a THORChain vault; the ETH you receive comes out of the on-chain pool directly to your Ethereum address.
- Native to native — real BTC in, real ETH out. No renBTC, no WBTC, no wrapped anything.
- Non-custodial — you sign from your own wallet; THORChain never holds keys.
- No account, no KYC — there is no sign-up step, because there is no operator to sign up with.
Step-by-step: BTC to ETH on THORChain
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Open a THORChain-compatible interface
Head to Rujira or STO (Thorchain Swap Organization). Both are non-custodial front-ends that route orders directly into THORChain pools.
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Connect your source wallet
Connect a wallet that holds the asset you're sending. For BTC → ETH that's a Bitcoin wallet (Xdefi, Ctrl, Leap); for ETH → BTC it's a Metamask-compatible ETH wallet.
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Pick the pair and amount
Select BTC as the sell asset and ETH as the buy asset (or the reverse). Enter the amount. The interface shows a quote including THORChain swap fee, outbound fee, and slippage.
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Enter the destination address
Paste the receiving address on the destination chain. THORChain is non-custodial — whatever address you put here is where the output lands. Triple-check it.
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Sign and wait
Sign the swap in your wallet. THORChain waits for inbound confirmations (typically 1–3 BTC confirmations), converts through RUNE, and sends the output to your destination address. Total time: usually 10–20 minutes for BTC → ETH.
The ETH → BTC direction follows the same steps with the sides reversed: connect an ETH wallet, select ETH as the sell asset and BTC as the buy asset, and provide a destination BTC address.
Fees and slippage to expect
A BTC ↔ ETH swap on THORChain carries three cost components. Unlike bridging, there is no wrap/unwrap fee and no custodian fee.
THORChain charges a protocol swap fee of roughly 0.3%, pool- and size-dependent. This is what pays liquidity providers.
An ETH network gas fee on the destination transaction (or a BTC miner fee on the reverse direction). Paid in the destination asset.
Proportional to your swap size relative to pool depth. Small swaps have negligible slippage; multi-BTC swaps can see several percent.
BTC ↔ ETH swap questions
Do I need an account or KYC to swap BTC to ETH on THORChain?
No. THORChain is a non-custodial AMM protocol — you sign the transaction from your own wallet and never hand custody or personal information to an intermediary.
How long does a BTC to ETH swap take?
Most BTC → ETH swaps settle in 10–20 minutes. The bottleneck is Bitcoin confirmations; THORChain waits for the required confirmation depth before releasing ETH on the destination side.
What fees will I pay?
Three layers: the THORChain swap fee (~0.3% pool-dependent), Ethereum outbound gas, and slippage proportional to swap size vs. pool depth. Aggregators (Rujira, STO) may add a small affiliate fee.
Can I also swap ETH to BTC with the same steps?
Yes — the flow is symmetrical. Point your wallet at the ETH → BTC pair instead, provide a destination BTC address, and THORChain routes ETH → RUNE → BTC through its liquidity pools.
Is the rate I see the rate I will get?
The displayed rate is the current pool-clearing rate. The final executed rate depends on swap size and slippage — larger swaps move the pool more. For a precise quote on your amount, use the calculator on the pair page.