Okay.
So now that we know what crypto exchanges are and how they can be used to convert one cryptocurrency
to another and why you might want to do this.
In this lecture, I'm going to give you an example of using a crypto exchange called Morph Token.
Most of these exchanges are very similar anyway, so this will give you a good idea on how to use any
crypto exchange.
Really?
Anyway.
In general, these websites use very intuitive and easy to use interfaces.
So for this one, right here on the left, you have to specify the deposit currency.
So as you know, we want to transfer from Bitcoin.
So if you're depositing another a different type of coin, you can pick it from here.
But I'm leaving it at Bitcoin because we want to actually deposit Bitcoin and we want to transfer that.
We want to receive Monero.
Again, if you want to convert your bitcoins to another coin, all you have to do is click in here and
select the other coin.
Next, you want to specify the amount of deposit, the amount of bitcoins that you want to convert to
Monero or to the destination currency.
Now for this website, the minimum amount that you can convert is five micro bitcoins.
So 0.005.
You should read the frequently asked questions of whatever service you're using to make sure that you
send more than the minimum amount.
Because sometimes if you send less than the minimum amount, it will be considered as a donation.
So this is similar to what happens with Bitcoin mixers.
Now if we go down into my wallet, I have my electron wallet right here, my Bitcoin wallet, you can
see that my balance is 5.6 micro bitcoins.
So this is 0.0056.
You divide this value by 1000 to convert it from micro bitcoins to bitcoins.
So I have more than the minimum amount.
So that's fine.
So I'm going to set this to the minimum amount.
Now remember, like I said, this is in bitcoins, not in micro bitcoins.
So 5.6 micro bitcoins will be equal to 0.0056 bitcoins.
Now, we actually don't want to send all of this.
I'm just going to send five micro bitcoins.
So it's 0.005 they receive is already set to Monero, so we're good to go.
You can also use the weight in here if you want to convert the deposit coin to a number of different
cryptocurrencies so you can click on the plus and here to add more entries.
And when you do that, for example, in this case, 50% of my bitcoins will be converted to Monero and
50% will be converted to Ethereum, which is another cryptocurrency.
And you can keep clicking on the plus and split your bitcoins into a number of different cryptocurrencies
if you want.
Now, in my case, I want to keep everything for Monero, so I'm going to click on the minus here and
we're going to click on Morph to start the process.
And the next page, it's asking us for the refund address.
This is the address of the wallet that will send the funds.
As the name suggests, the only reason you need this in case something goes wrong, the money will not
be lost.
It will be sent back to the wallet that it came from or to the address that you specify in here.
So I'm going to go down and this is the wallet that will send the money, and I'm going to set it as
the refund wallet.
So I'm going to click on Receive as usual, copy its address and paste it here.
That's done.
The next step is to give the address of our Monero wallet, which will receive our Bitcoin coins after
being converted to Monero or XMR.
So again, we're going to go down and this is my Monero wallet.
You'll notice that using these wallets is actually very, very similar.
If you want to receive money, you click on Receive.
Similar to what we do with Electron.
Now, in your case, you'll probably only have one address in here.
The primary address.
I have two other addresses here because I created them manually and it's actually a very good idea to
always create new addresses for every transaction you make.
Therefore, this is a new transaction.
I'm going to click on Create a new address.
You can set any label for this, so I'm going to call it Test three and I'm going to click on okay.
And now when I click on this, you'll see that the QR image changed.
This is the QR image for address three for this wallet.
And I can click on this icon right here to copy this address to my clipboard.
As you can see in here, it's saying the address is added to the clipboard.
And I'm going to go back to my website and I'm going to paste it here so that this will be the address
that will receive the coins after they're converted to Monero or XMR.
Once we're happy with setting the refund address and the receiving address, I'm going to click on start
to start the process.
And perfect.
Now the process has started.
We have our ID right here.
If you go down again, you can see it's telling you what's the minimum amount that you can transfer.
It's 0.005.
This is what we picked anyway.
So that's fine.
And then it's given us the address of the wallet of this website, so we should transfer our coins to
the address that we have in here.
This website will convert our bitcoins to Monero and then transfer it to the address that we gave as
the receiving address, which is the address of this wallet.
So right now I need to go to the wallet that I'm sending money from.
I'm going to go to the send tab, as we've seen before.
We're going to set the pay to address to the address that we got from here, the address of the wallet
of this website.
You can set a description for this, but I'm going to leave it blank.
That's fine.
The amount we're going to set that to five.
Remember, this is in micro bitcoin.
So it's equal to 0.005, which is what we picked in here when we initiated the process.
I'm going to keep the fees as they are and I'm going to click on send to send the bitcoins.
I'm going to put my password.
And perfect.
Now the payment is sent.
And if we look in our history tab, you can see that it sent.
It's still unconfirmed.
So you want to wait for this as usual.
And if we go to the website, you can see that it's waiting for confirmation, but it received my 0.005
bitcoins.
So all we need to do right now is literally wait for these guys to receive my bitcoins, convert them
to Monero, and then they will transfer it to my Monero wallet right here.
Now.
I've actually paused the video for a bit, and right now, as you can see, I received the funds in
my Monero wallet.
If you click on account, you should see the amount that you transferred in here in your wallet.
And as you can see right now, this is in Exmor in one arrow.
So we basically converted our coins from Bitcoin to Monero.
XMR And like I said, once we do this, we basically broken the link between all of the previous transactions
and the coins in this wallet.
So right now if I go ahead and use the coins in this wallet for anything, it will be untraceable and
unthinkable to the Bitcoin wallet that sent the money to this wallet right here.
So even if the Bitcoin wallet was linked to my identity or compromised, it's still safe to use this
wallet in here because it is not linked to the previous wallet and therefore it's not linked to my real
identity.