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How Can I Convert Bitcoin to Stacks?
Shailee Adinolfi
&
Annie Pei
General Wallet Use
Converting BTC to STX normally occurs on an exchange or a similar platform that has enabled token swaps. For Bitcoin users who want to enter into the Stacks ecosystem, it is a crucial process as apps built on Stacks normally require users to have STX tokens in order to proceed.
What Is Stacks?
Stacks is a Bitcoin L2 that was created to enable smart contract functionality on Bitcoin. This would enable DeFi, NFTs, apps, and smart contracts to be built and settled back on to the Bitcoin L1.
In October, the Stacks ecosystem rolled out the Nakamoto Upgrade. This upgrade was meant to speed up transaction confirmation times and ensure 100 percent Bitcoin finality, to name a number of the goals around Nakamoto. Additionally, Nakamoto was meant to serve as the foundation for another upcoming Stacks development known as sBTC.
What Is the Ratio of STX to BTC?
As of this writing, 1 STX is equal to 0.0000247 BTC. This ratio, however, changes depending on market conditions.
How to Exchange Bitcoin for Stacks in 5 Easy Steps
While some wallets may allow you to exchange BTC to STX in-app, users can also do so on an exchange.
Assuming that you want to convert BTC to STX on an exchange, you’ll generally need to follow these five steps:
Find the “Swap” feature on the exchange or platform that you’re using
Double check that you have entered STX as the token to receive for your BTC and specify the amount of BTC you’d like to swap
Double check the wallet address you’d like to use to receive your STX
Enter or select the transaction fee you’d like to use
Confirm the BTC to STX transaction
Bitcoin and Stacks Market Data
The STX to BTC market rate changes constantly. There is a current circulation of about 1,500,520,390 STX coins in the market, and several tools exist to keep track of market value 24/7 for convenience.
BTC to STX Conversion Rate Explained
The conversion rate is the amount of STX received for a single BTC. As we mentioned, 1 STX is equal to about 0.0000247 as of this writing, but the BTC to STX conversion rate changes depending on the market.
What Affects the Bitcoin to Stacks Conversion Rate?
The rate depends on the BTC economy. As demand for STX increases, its value will continue to increase. Other factors include exchange habits of frequent investors, media attention, and other factors that can cause the STX market to move.
Similar factors also affect the BTC market. Additionally, if more people are using the Bitcoin blockchain for transactions, converting BTC to STX could incur higher transaction fees as network traffic increases.
BTC to STX Converter Tool
There are several resources online to convert BTC to STX. Many of these tools can be found on exchange-based sites, including: