Developers Forum for XinFin XDC Network

Mikhail Chudinov
Mikhail Chudinov

Posted on

[Informative] How to buy XDC without KYC

Developers of the popular XDC DEX xspswap launched a new p2p platform AtomX Online in test mode.
There you can already buy and sell XDC for USDT on Polygon and BSC! live on XDC network
The platform uses atomic swaps for p2p trading without trusting the counterparty or an intermediary as guarantor.
The crypto native approach requires no registration or KYC.
Connect your wallet and make the exchange.

Open the Offers page, choose a suitable order.
Before starting the swap, contact the seller and ensure they are online and ready to trade. If you start but the seller is away, your funds stay safe but you'll waste time canceling and pay gas fees.
Trades with verified sellers are best since they have good uptime and are quick.
Uncheck "Verified" to see all seller offers.

To get the best rate, you can create an order and wait for a buyer. Contact admins to get Verified status if you are a professional.

Safety is ensured by Hash Time Lock Contracts.
The idea is the buyer and seller send crypto on different blockchains into special contracts, specifying each other's wallet and the same hashlock.
To withdraw, you must know the secret key matching the hashlock.

For example, swapping USDT.Polygon and native XDC:
The buyer deposits USDT into a Polygon HTLC, generating a secret key and hashlock to protect the transfer.
The seller deposits into a XDC HTLC using the same hashlock.

Alice start swap, as the buyer
The buyer redeems with their key, withdrawing the seller's XDC.
The key is recorded on XDC when redeemed.
The seller uses this key to withdraw the buyer's USDT on Polygon.

exchange finalization
It's fully automated and handled in the browser.
Users just confirm the transactions in their wallet.
You need gas funds on both chains to cover contract calls when completing the swap.
There are tutorial videos linked at the bottom right explaining how the platform works.

You can trade any token on BSC, Polygon, XDC, HAQQ, Base, not just XDC.
The platform can be used for OTC deals instead of a human guarantor.
It's still in development so there are no fees beyond gas costs.

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Discussion (1)

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Robert Aronovici

Which wallet works best with the DEX/dApp for swapping between XDC and other assets? Thank you for a great write up and tutorial!