At this time, Bitcoin (BTC) cannot be swapped directly within the Phantom Wallet’s in-app swap feature. If you’re looking to swap Bitcoin or trade other tokens for Bitcoin, using a centralized exchange is the most efficient and secure option.
Why Can’t Bitcoin Be Swapped in Phantom?
Phantom Wallet is designed to support tokens on networks such as Solana, Ethereum, Base, and Polygon, which do not natively include Bitcoin. Since Bitcoin operates on its own blockchain and requires specific infrastructure for swaps, it is not currently supported within Phantom’s swap feature.
How to Swap Bitcoin
To swap Bitcoin, follow these steps using a centralized exchange:
1. Choose a Centralized Exchange
Select a trusted exchange that supports Bitcoin and has the trading pair you’re looking for. Popular exchanges include:
- Binance
- Coinbase
- Kraken
- Gemini
2. Set Up an Account
- If you don’t already have an account, sign up for the exchange of your choice.
- Complete any necessary identity verification (KYC) as required by the platform.
3. Deposit Tokens
- Transfer your Bitcoin to your exchange address on the exchange.
- Follow the platform’s deposit instructions to ensure funds are correctly credited to your account. If you are unsure its best to contact them since transactions are irreversible.
4. Execute the Swap
- Navigate to the trading or swap section of the exchange and select the token you want to swap for Bitcoin (BTC).
- Review the trade details, including fees and exchange rates, and confirm the transaction.
Why Use a Centralized Exchange for Bitcoin?
Centralized exchanges are ideal for swapping Bitcoin due to their:
- High Liquidity: Ensures your trades are executed quickly at market rates.
- Wide Token Availability: Supports a variety of trading pairs with Bitcoin.
- User-Friendly Interface: Simplifies the process for beginners and advanced users alike.
- Security Features: Offers robust security measures like two-factor authentication (2FA) and custodial storage.
Can You Use Wrapped Bitcoin (WBTC) Instead?
If you’re trading on networks supported by Phantom, such as Ethereum or Solana, you might consider using WBTC or cbBTC. These are examples of a tokenized version of Bitcoin that operates on other blockchains, allowing you to trade BTC equivalents within the Phantom ecosystem.