🔁Swaps
Swap bitcoin between on-chain and lightning ⚡
You can transfer bitcoin between your Alby Hub on-chain balance and your Alby Hub spending balance through a swap, using its existing channels and receiving capacity. ⚡🔄
Overview:
Swap In: Transfer funds from your on-chain balance to your spending balance.
Swap Out: Transfer funds from your spending balance to your on-chain balance.
Swap In
Transfer funds from your on-chain balance to your spending balance.
1. Navigate to "Wallet" and click on "Swap"
2. Enter a Swap Amount and click "Swap In"
3. Scan the QR using an external bitcoin wallet or use your Alby Hub funds
If you're sending from an external wallet make sure you send the exact amount specified, failing to do so will result in a swap failure followed by an immediate refund.
4. Wait for one on-chain confirmation
The swap is now initiated, and you'll see a "Waiting for confirmation" loading screen ⏳ Swap In needs 1 on‑chain confirmation (~10 minutes); once that's done, you'll receive an incoming payment notification! 🎉
5. Congrats. You successfully made a Swap In 🎉
Swap Out
Transfer funds from your spending balance to your on-chain balance.
1. Navigate to "Wallet" and click on "Swap"
2. Enter a Swap Amount and click "Swap Out"
You can also select an external on-chain wallet if you wish to swap out to a cold wallet. However, please double check the wallet address before proceeding to avoid loss of funds.
3. Wait for deposit and two on-chain confirmations
The swap is now initiated, and you'll see a "Paying lightning invoice" loading screen ⏳ In just a few seconds, the state should change to "Waiting for 2 on-chain confirmations".
This is because Swap Out is a two step process. First our swap provider locks up the funds, and as soon as the lightning invoice is paid, we broadcast another transaction to claim it. Once that's done, you should be receiving sats to your on-chain wallet! 🎉
4. Congrats. You successfully made a Swap Out 🎉
In both cases, there will be a short waiting period while the transaction confirms on-chain ⏳. This usually takes 15 to 30 minutes, depending on block confirmations, but sometimes it’s even faster! 🚀 Sit tight, and your sats will arrive soon! 😊
If a Swap Out fails or doesn't arrive in time, your lightning invoice payment will be canceled and your sats will be returned automatically, no manual refund needed.
If a Swap In fails or doesn't arrive in time, don't worry, your sats are safe. Go to Debug Tools > List Swaps, note the Failed Swap ID, and then Debug Tools > Refund Swap, enter the ID, and click Done.
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