BasicSwap

What is BasicSwap

BasicSwap is a decentralized exchange (DEX) built for users who refuse to compromise on privacy or custody. Launched in 2022 and developed in proximity to the Particl ecosystem, it facilitates peer-to-peer cryptocurrency swaps through native atomic swap protocols-HTLC (hash time-locked contracts) and PTLC (adaptor signatures)-without wrapped assets, intermediary chains, or any central counterparty. As of 2026-05-30, the project runs protocol version 0.16.0 with GUI version 3.5.0, with v0.16.2 released in May 2026 per the official blog.

The exchange operates as downloadable software rather than a website-based platform. Users run the client locally, sync the relevant blockchains, and interact through a decentralized order book propagated over Particl's SecureMessaging Network (SMSG). There are no accounts, no registration emails, and no server holding user funds.

How no-KYC is it?

BasicSwap achieves the strongest possible no-KYC classification: KYC is technically impossible by design. The protocol has no centralized operator capable of collecting identity documents, no account system to link trades to personas, and no custodial wallet that could freeze funds. Swaps execute directly between users' own wallets via on-chain smart contracts; the BasicSwap contributors do not process, execute, or initiate transactions.

This architecture places it at KYC Level 0 (trustless) on standard privacy scales. The only "identifying" information exchanged is the cryptographic data necessary for atomic swaps-public keys, hashes, and adaptor signatures-none of which link to real-world identity.

Privacy & security

Privacy on BasicSwap derives from its architectural choices rather than policy promises. The distributed order book and SMSG messaging layer mean no central server logs trade intentions or IP correlations. Users retain sole custody of private keys throughout the swap lifecycle.

The platform supports privacy-centric assets natively, including Monero (XMR), which uses ring signatures and stealth addresses, and Litecoin's MWEB extension for confidential transactions. Bitcoin swaps occur on-chain without address reuse requirements.

Security-wise, the atomic swap protocols are well-established open-source standards developed by the broader cryptocurrency community, not proprietary BasicSwap code. The May 2026 blog post highlighted architectural differences that prevent the fake-ACK exploit that affected RetoSwap, suggesting active security awareness. However, no independent security audit specifically covering BasicSwap code was found in the evidence; Particl platform reviews exist but do not directly audit this DEX implementation.

Payments, fees & limits

BasicSwap charges zero trading fees. The only costs are the native blockchain transaction fees of the coins being swapped. There are no deposit fees, withdrawal fees, or spread premiums collected by the protocol.

Supported cryptocurrencies as of the latest crawl include:

• Bitcoin (BTC)
• Monero (XMR)
• Litecoin (LTC) including MWEB
• Bitcoin Cash (BCH)
• Dash (DASH)
• Dogecoin (DOGE)
• Decred (DCR)
• Particl (PART)
• PIVX
• Firo (FIRO)
• Wownero (WOW)

There is no fiat on-ramp or off-ramp; all trades are crypto-to-crypto. No minimum or maximum deposit limits exist, though practical liquidity constraints apply based on what other users have posted to the order book.

User experience & support

BasicSwap requires meaningful technical commitment. Users must build from source or run installers (.EXE for Windows, Bash for Linux), sync multiple blockchain clients, and wait for full synchronization before trading. The Wallets page tracks sync progress. Documentation exists for placing offers, taking offers, and monitoring swap progress through BID IDs.

Community support channels include Matrix, X (Twitter), and Discord/Telegram per third-party reviews. The Reddit community is small and operates with restricted posting. No dedicated customer service department exists-appropriate for a decentralized project, but a friction point for non-technical users.

A notable 2026 development is the upcoming integration with Litecoin's Nexus mobile wallet, which would represent BasicSwap's first mobile accessibility.

Who it's for

BasicSwap suits privacy-maximalists, Monero enthusiasts, and technically proficient traders who prioritize custody and censorship resistance over convenience. It solves the BTC↔XMR swap problem without trusting custodial bridges or centralized exchanges. Users comfortable running Bitcoin Core, Monero wallets, and waiting for block confirmations will find the trade-off acceptable. Those seeking one-click trading, fiat access, or customer support should look elsewhere.

Compared to custodial no-KYC exchanges, BasicSwap eliminates counterparty risk entirely at the cost of liquidity and operational complexity. Compared to other DEXs, its native atomic swap approach avoids smart contract vulnerabilities on secondary chains but requires more local infrastructure.