BTC to STX: How to Swap Bitcoin for Stacks

Stacks has established itself as a popular Bitcoin layer that brings smart contract functionality and decentralized applications (dApps) to Bitcoin. To interact with Bitcoin DeFi applications built on Stacks, you need to get your hands on the Stacks (STX) token. 

Arguably, the easiest and quickest way to do that is to swap BTC for STX using the Xverse Cross-Chain Swap.  

Read on to learn more about STX and how you can swap BTC for STX. 

What Is STX? Introducing the Native Token of Stacks

Stacks (STX) is the native cryptocurrency of Stacks, a Bitcoin smart layer that extends Bitcoin’s functionality by bringing smart contracts, DeFi, and NFTs to the Bitcoin ecosystem. 

Stacks is anchored to the Bitcoin network through its unique consensus mechanism, Proof-of-Transfer (PoX), which is an extension of the Proof-of-Burn (PoB) mechanism. 

With PoX, instead of burning BTC, miners must lock up BTC in specific Bitcoin addresses that participate in the Stacks consensus. The ability to create blocks on the Stacks blockchain is determined through miners competing to be randomly chosen to produce the next block by sending BTC to predetermined randomized addresses owned by so-called “Stackers.” If chosen, the miner receives newly minted STX tokens as their block reward and collects all the fees for transactions included in the block.

PoX also allows network participants to earn native BTC by stacking STX. 

How to Swap BTC for STX, Step by Step

Now, let’s take a look at how you can get your hands on STX tokens by swapping BTC for STX. 

Step 1: Connect to the Xverse Web App

• Visit the https://wallet.xverse.app/swaps address using your web browser.

• Connect your Xverse wallet (or download and set one up if you haven’t yet). 

Step 2: Connect Your Wallet

• Link the wallet that contains the BTC you want to swap for STX. 
• A drop-down menu will appear with a list of wallets: select the one containing your BTC and click ‘Accept.’

Step 3: Select BTC to STX and Enter the Amount

• Choose the BTC by tapping on ‘Select asset’ and pick STX as the cryptocurrency you’re swapping to.
• Enter the amount of BTC you want to swap for STX and click ‘Get quotes.’

• The swapping app will calculate and display an estimate of how much STX you’ll get.

• Verify the details, make sure everything is correct, and click ‘Swap.’

Note that you’ll need some STX tokens to pay for transaction fees while executing the swap.

Step 4: Wait for the Transaction to Complete

• Swapping may take between 5 and 30 minutes, as it’s a cross-chain swap that involves two blockchains.
• You can track the progress of the transaction on the Xverse dashboard.
• Once the transaction is complete, check your STX balance and details, such as swap history and involved tokens, to verify that the correct amount has arrived.

And that’s it!

Connect Your Wallet to Xverse Swap to Convert BTC to STX

The Xverse Swap provides a seamless experience for swapping between BTC and STX and a wide range of other tokens on different blockchains. All you need to do is connect your wallet and click the ‘Swap’ button–easy peasy.

Click here to convert your BTC to STX (and vice versa) using Xverse Swap.

FAQ

How do you earn BTC with STX?

STX holders can lock their STX to the network in order to support the Stacks consensus. As a reward, they can earn up to 10% APY in BTC. This process is called stacking and is similar to staking. However, unlike in traditional staking mechanisms where you yield more of the same token, stacking with STX lets you receive payouts in bitcoin.

What is STX coin used for?

STX is the native cryptocurrency of the Stacks network and is used to pay transaction fees, execute smart contracts, and interact with the Stacks ecosystem. This also includes enabling DeFi, NFTs, dApps, and smart contracts for Bitcoin. On top of that, STX can be locked directly on the network to earn BTC rewards in the process called ‘stacking.’