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Swapping with cBTC
Use your cBTC to swap for other Cardano native tokens.
Users can leverage their BTC by minting cBTC and using a DEX to trade with Cardano native tokens such as ADA itself or other ecosystem tokens such as cNETA, MIN, CHRY, INDY, etc.
Using cBTC on Cardano to swap for other native tokens on a decentralized exchange (DEX) involves connecting your Cardano-compatible wallet to the DEX interface, selecting the amount of cBTC you wish to exchange, specifying the desired native token, and confirming the transaction.
The DEXs employ smart contracts and liquidity pools to execute the swap, ensuring a secure and efficient exchange process. Upon confirmation, the smart contract processes the trade, transferring the native tokens to your wallet. This allows you to seamlessly diversify your holdings and access various native tokens using your cBTC assets within the Cardano ecosystem.
Conversely, a user could swap their ADA for cBTC, and then redeem cBTC for real BTC with a Bitcoin wallet.