Although RoboSats is an exchange built on top of the Lightning Network, there is an option for the buyer to receive their Sats to an on-chain bitcoin address. This is referred to as an on-chain payout or, sometimes, an on-chain swap (not to be confused with P2P Swaps).
In the UI, this option is available after the taker has locked their bond. When the order status is on “Waiting for buyer invoice”, you should see two options: “Lightning” and “Onchain”
When you click on the on-chain address option you see the following:
An overview of the fees is displayed and you can enter an on-chain bitcoin address for the payout and also enter the mining fees. The swap fee is an additional fee that RoboSats charges for making the on-chain payment. This does not include the taker/maker fees. The swap fee is charged on the amount after deducting the taker/maker fees.
In addition to the swap fee, there’s also the mining fee for the on-chain transaction. You can choose the mining fee that suits your need of the hour. The mining fee input let’s you choose the fee rate in sats/vbyte.
If the on-chain address is valid, then the order moves to the next stage as usual. At the end, if the trade was successful, then you should see a screen something like this with the transaction ID of the payout:
On-chain Payout Fees
The on-chain payout fees (AKA swap fees) keep changing from time to time. It may range from 1% to 10%. To get the current on-chain fees, you can check the exchange summary by clicking on the “%” button from the home screen:
The exchange summary dialogue displays the current value of the on-chain payout fees:
You can help improve this page!
Learn RoboSats is a joint effort of the RoboSats community. If you have used RoboSats before, you are already an expert! Help improve this documentation.