How to swap WETH, stablecoins and bitcoin tokens on FermiSwap

FermiSwap lets Ethereum users trade WETH, stablecoins and bitcoin tokens against its own inventory, so a swap can happen without routing through a shared pool. For anyone looking up fermi swap, the key is to check the token and network before confirming: WBTC and cbBTC represent bitcoin on Ethereum; they are not bitcoin on the Bitcoin network. FermiSwap is listed on DefiLlama as an Ethereum market maker whose inventory includes WETH, USDC, USDT, WBTC and cbBTC. That tells you which assets it tracks, but a pair’s live availability and quote still need checking in the app.

How do you make a fermi swap?

Start with an Ethereum wallet that holds the token you want to trade and some ETH for network fees. Connect it, choose the input and output tokens, and enter an amount. The app should show an estimated amount to receive before you submit. Compare that estimate with the amount you expect; it can change before the transaction is processed. The fermi swap reference belongs in that basic flow: select the pair, review the quote, then decide whether to proceed.

If the input is an ERC-20 token—a token using Ethereum’s common contract standard—the wallet may first ask you to approve the contract to spend it. Approval is a separate transaction and can cost gas. After approval, confirm the swap transaction and wait for it to settle on Ethereum. A swap does not move assets between blockchains; it trades tokens that exist on the same network.

Which bitcoin token should you choose?

WBTC and cbBTC are both tokenized forms of bitcoin on Ethereum, but each is issued and managed under its own arrangement. They can have different liquidity and prices, so treat them as distinct tokens rather than interchangeable BTC. If you want bitcoin exposure, check the exact token name and contract address in your wallet before approving or swapping. If you need native bitcoin, an Ethereum token swap will not deliver it to a Bitcoin address.

For a stablecoin trade, USDC and USDT aim to track the US dollar, but their prices can move away from that target. WETH is ether represented as an Ethereum token. It trades like other ERC-20 tokens and is distinct from ETH, which is also used to pay Ethereum gas.

What should you check before confirming?

Read the quote and the transaction details in your wallet. The displayed output is an estimate, not a guaranteed amount. Slippage means the price can move between the quote and execution; a tighter limit can cause a transaction to fail if the market moves too far. Check that the selected token and network match what you intended, and remember that a failed transaction can still use gas.

• Confirm you are on Ethereum and selected the intended token contracts.
• Check the estimated amount out and any minimum amount shown.
• Keep enough ETH in the wallet for gas, including a possible approval.
• Review the wallet’s transaction details before signing.

For most readers, the sensible approach is to compare the amount received and the token identity before looking at anything else. FermiSwap’s inventory model means it fills trades from tokens it holds, rather than relying on a shared liquidity pool, according to DefiLlama. The available quote therefore matters more than assumptions about how a familiar pair should trade.