FLIP to BTC: Swap Chainflip Tokens for Native Bitcoin, No KYC

FLIP is the token of Chainflip, a protocol for moving value between chains. For this swap, what matters is where your FLIP sits. The deposit has to be FLIP as an ERC-20 token on Ethereum mainnet, sent from an ordinary 0x address in MetaMask, Rabby or a Ledger.

Not every FLIP balance is in that form. FLIP used for staking or held inside the Chainflip network itself is not sitting at your Ethereum address as an ERC-20 token. If that is where yours is, first move it back to your Ethereum wallet, then come back to the swap. The deposit address here only sees ERC-20 FLIP on Ethereum.

A common reason for this direction is plain: holders of a smaller project token want to turn part of it into bitcoin, the most widely held crypto asset, and keep it in their own Bitcoin wallet. The swap does that in one step, without a bridge and without an account.

Every ERC-20 transfer on Ethereum pays gas in ETH. A wallet holding FLIP and no ETH cannot send the deposit. Look at the ETH line in your wallet before you start; if it is empty, add some first.

Check the network in the wallet as well; the label you want is Ethereum or Ethereum Mainnet. Layer-2 networks share the same 0x address, and a token sent on one of them does not arrive where this swap is watching.

Gas cost changes through the day with demand on the network. Our notes on cheaper gas explain how to pick a quieter moment. Once sent, the FLIP deposit confirms on Ethereum in about 2 to 5 minutes, and its hash opens on Etherscan for anyone to check. After that the swap moves to the Bitcoin side, and your ETH plays no further part.

The payout goes to a Bitcoin address that starts with bc1, 3 or 1. All three formats work. A bc1 address is the most common in current wallets such as Sparrow and Electrum, and hardware wallets show one on their own display.

The 0x address you send FLIP from cannot receive bitcoin. Pasting it into the payout field is the easiest slip on this page, because it is often the last thing on the clipboard. Copy the Bitcoin address from your Bitcoin wallet just before you paste it, and compare the first and last few characters.

The BTC you receive is native bitcoin on the Bitcoin blockchain. It is not WBTC or any other bitcoin token on Ethereum, so it will not show up in MetaMask. Bitcoin confirms the payout in one to three blocks, and mempool.space shows it at your address. Bitcoin pays its own fees, so you need nothing else to move it later.

The two columns share nothing, which is why a single wallet rarely covers both. Keep the Ethereum wallet open for the deposit and the Bitcoin wallet open for the payout address. The gas row matters most before you start: ETH must be present to send the FLIP. After the payout the picture flips, since bitcoin needs no second coin to move. You can spend or store the BTC straight away.

Enter a FLIP amount and the exchange box shows the BTC you get after fees. Pricing is drawn from aggregated liquidity from leading crypto markets and keeps moving until Ethereum confirms the FLIP. A big move in either coin before then changes the payout slightly.

After the deposit confirms, most swaps finish within minutes, and the Bitcoin network then confirms the payout in one to three blocks. The minimum and maximum for FLIP to BTC are in the box as well, so check them before you send.

You do not sign up for anything. GhostSwap is a no-KYC crypto exchange: no account, no email and no ID, only a Bitcoin address, an Ethereum sender address and the FLIP. If you later want FLIP again, the BTC to FLIP page takes bitcoin in and pays ERC-20 FLIP out.

Your Ethereum sender address is also the refund address. If a swap cannot be completed, the coins are refunded to the sender address you entered. So pick a 0x address whose keys you hold, on Ethereum mainnet.

Sending FLIP straight from a trading platform is risky for that reason. A platform withdrawal comes from a shared address, and a refund sent there may never be matched to your account. Move the FLIP to your own wallet first.

The status page under your swap ID links both sides: the FLIP deposit on Etherscan and the BTC payout on mempool.space. If Etherscan shows the deposit confirmed but the status has not changed for a long while, contact support@ghostswap.io with the swap ID and the Ethereum transaction hash. Do not send the FLIP again.