Cake Wallet's built-in swap is the most common non-KYC path from Bitcoin to Monero for Canadian buyers. This reading covers how the swap works and what each party sees.

How to swap

  1. Open Cake Wallet. You need a Monero wallet inside Cake and either a Bitcoin balance in Cake or a plan to send Bitcoin into it.
  2. Tap the exchange/swap button.
  3. Pick a provider from the list (ChangeNow, SimpleSwap, Trocador, SideShift).
  4. Enter the amount of Monero you want.
  5. The provider gives you a Bitcoin address to send to.
  6. Send from wherever you hold Bitcoin. Wait for confirmations. Monero arrives in your Cake wallet.

What the provider sees

The incoming Bitcoin address (where the BTC came from). The outgoing Monero address (which is a Cake Wallet address you control). The provider does not see your identity. They do not ask.

What Cake sees

The transaction happened in your wallet. Cake does not phone home with any identifying information about you.

Fees

Provider fees vary. ChangeNow and SimpleSwap typically charge 0.5 to 1 percent above the market rate. Trocador aggregates multiple providers and often finds cheaper rates. The exchange rate is fixed at the moment of the swap.

Practical note

If your Bitcoin came from a KYC exchange, the provider still sees the address, and the chain trace from the exchange to the provider is visible. To break this link, first move the BTC through a fresh wallet you control, then use the swap.