1- Head over to the build instructions page here.

2- Build and launch BasicSwap by following the instructions.

3- Wait for the client and wallets to sync. You can check the progress in the Wallets page.

4- Once the blockchains are synced up, you’re ready to go! Note: Because we use Monero’s bootstrapping function, you can start swapping Monero as soon as you launch BasicSwap, without requiring its blockchain to be synced in full.

1- Head over to the Tor setup instructions page here.

2- Route all traffic through a Tor proxy by following the specific instructions depending on whether you’re running a fresh install or have already been using BasicSwap.

1- In BasicSwap, navigate to the Wallets page.

2- Click on the Manage button of the coin you wish to Deposit.

3- Copy the deposit address displayed on BasicSwap.

4- Send your funds to this address.

1- In BasicSwap, navigate to the Wallets page.

2- Click on the Manage button of the coin you wish to withdraw.

3- Enter the deposit address and amount you wish to withdraw and make sure that the information is correct.

4- Click Withdraw.

We’ve got the entire process of placing or taking an order on the books detailed on the Particl Academy. Click here to see how to place an order and here to take one.

1- In BasicSwap, navigate to the Swaps in Progress tab.
2- Click on the BID ID of the swap you want to follow.
3- Check out the Swap Progress section of the page. It will tell you at which stage of the atomic swap process the trade is currently at.

While BasicSwap is available on mainnet and generally works well, it is still considered a beta product for several reasons.

For one, certain features and functionalities may feel less polished, in need of improvement, or simply missing. This is normal and part of the lifecycle of this beta phase. Please bear with us as we incrementally improve the protocol.

Additionally, we have much more than what you currently see planned for it, but we’ve now reached a stage where we also want to start gathering feedback and stress-testing the application more aggressively.

To build a strong product, we need to ensure its foundations are resilient, efficient, and built with longevity in mind. Opening up this beta phase to the public at this stage is a sure way to reach that goal more quickly.

BasicSwap is made up of three core components: the atomic swap protocol, the SecureMessaging network (SMSG), and scriptless scripts. Each of these fills a critical role and, when combined, form the BasicSwap DEX.

Atomic swaps: They are what make swapping possible without third-parties. Atomic swaps follow an “atomic” and condition-based approach in which coins get temporarily locked in smart contracts until specific conditions are met. Should any step fail during the process, the swap expires and coins are refunded to their original holder after some time. Read more about atomic swaps here and more specifically about Monero atomic swaps here.

SecureMessaging: The SMSG network is a peer-to-peer network that communicates between the two participating blockchains of a swap and feeds the swap data into the atomic swap smart-contracts. It is how two blockchains can communicate with each other without a central party. Additionally, the SMSG network provides other DEX-related services, such as BasicSwap’s distributed order book. Read more about the SMSG network <here.

Scriptless scripts: Scriptless scripts are a typically overlooked feature of Bitcoin and blockchains in general. Originating from MimbleWimble, they are, in their basic sense, a way to execute secure, scalable, and, most importantly, private smart-contracts off-chain using Schnorr Signatures or ECDSA. On BasicSwap, they are used to exchange the private key ownership of successful atomic swaps without leaving any trace on either side of a trade. Read more about scriptless scripts and their benefits here

Yes - there is no central point of failure or centralized aspect with BasicSwap’s order book. It is powered by the SecureMessaging (SMSG) network and is entirely distributed. Read more about the SMSG network here.

The SMSG network is a peer-to-peer network of nodes scattered across the world. Whenever you run BasicSwap, you also become an SMSG node. That means that, as long as there are BasicSwap users, the SMSG network will have enough nodes to keep the DEX online.

But there’s more! SMSG is a powerful mixnet and, for this reason, powers other applications within the Particl ecosystem. Notably, it powers several functions of the Particl Marketplace dApp and is also directly integrated into Particl Core nodes.

As the Particl project fully intends on powering more and more of its privacy-first dApps with the SMSG network as time goes by, the level of decentralization of the SMSG network and its node count is expected to keep on growing. In other words, as the number of BasicSwap AND Particl users grows, so does the degree of decentralization of its dApp (i.e., BasicSwap).

None of the core or functional aspects of BasicSwap ever connect to third-party services; the DEX is entirely decentralized and devoid of central points of failure. However, some convenience features within the user interface, such as the display of historical price graphs for coins, may rely on data fed from external APIs. None of this data is used in any functional part of BasicSwap (such as the order book or for determining prices).

Not at this time. BasicSwap needs to be manually compiled, which can be done by following the easy-to-follow instructions available here.

Of course, we fully intend on providing premade builds moving forward, but that’s planned for later during the beta.

No. The Particl team’s involvement is not required at all for BasicSwap to function. The DEX is completely open-source and peer-to-peer. The team may deliver updates and improve it further, but it is not required.

A critical aspect of BasicSwap that makes it stable is that every trader becomes a P2P node that helps keep the DEX online. As long as there are BasicSwap users, it will remain online.

Additionally, the SMSG network — the P2P network that powers BasicSwap — also powers other applications within the Particl ecosystem. Notably, it powers several functions of the hereParticl Marketplace dApp and is also directly integrated into Particl Core nodes.

As the Particl project fully intends on powering more and more of its privacy-first dApps with the SMSG network as time goes by, the level of decentralization of the SMSG network and its node count is expected to keep on growing. In other words, as the number of BasicSwap AND Particl users grows, so does the degree of decentralization of its dApp (i.e., BasicSwap).

We get asked this a lot, but fortunately, there is no catch. BasicSwap uses h4sh3d’s Monero atomic swap protocolc; all other functions of the DEX are provided by the SMSG network and scriptless scripts. BasicSwap does not use wrapped Monero tokens, intermediate chains, or any other trickery.

And while there is no catch, there is one caveat: at this point in time, it is only possible to execute XMR swaps one way. Indeed, it is not possible to place XMR sell offers on the order book, only buy orders (in exchange for another coin).

That’s due to the current nature of the XMR atomic swap protocol. We’re happy to announce that we’re working on a solution to allow bi-directional XMR swaps. This is one of the next items in line during this beta.

The entirety of the code is open-source. Simply visit our Github here; every line of code can be thoroughly audited to ensure that BasicSwap does what we say it does.