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GhostFi vs THORChain

GhostFi and THORChain both turn a coin on one chain into a native coin on another, but they work in opposite ways. THORChain is a Layer-1 blockchain that runs a decentralized exchange: you swap from your own wallet into vaults run by its node network, and every pool is paired with RUNE. GhostFi is a conversion service: you send once to a one-time deposit address, an exchange converts it, and the payout goes to the wallet you named, with no wallet connection.

Last updated 28 October 2026

What is THORChain?

THORChain's documentation describes it as a Layer-1 blockchain that acts as a decentralized exchange, letting you swap coins across blockchains in one step without wrapped tokens. Every supported coin is paired with RUNE in a liquidity pool, and a swap goes coin to RUNE to coin under the hood. Each chain has a vault run collectively by its node network with threshold signatures. Its docs say THORChain doesn't hold your funds and you never give up custody to a centralized entity.

What is GhostFi?

GhostFi (ghostfi.io) is a crypto conversion service. You pick what you send and what you get, paste the address that should receive it, and send once to a one-time deposit address. An exchange converts the deposit at the live price and withdraws the payout to the wallet you named. There is no sign-up. While an order runs, your funds pass through the one-time deposit address and an exchange, so GhostFi is a service you trust with the order, not a protocol. It is a small service: 273 completed transfers and conversions from 5 April to 28 October 2026.

How do you use each one?

THORChain's guide: create a wallet on an interface that supports it (it names Vultisig, Keystore and Ledger as examples), open an interface such as swap.thorchain.org, connect the wallet, pick the assets, review the amount, route, fees and slippage, and approve the swap in your wallet. The swap memo carries a destination address, so the payout can go to another address.

GhostFi needs no wallet integration: any wallet, exchange account or app that can send the coin works, because you only send to an address. Nothing to connect, nothing to sign.

How do the fees compare?

THORChain lists four fee types: the inbound fee (the normal network fee of the chain you send from, paid by your wallet), a slip-based liquidity fee that grows with the size of the swap relative to pool depth and has a set minimum, an optional affiliate fee from 0 to 10,000 basis points set by the interface you use, and an outbound fee equal to the destination gas times a multiplier of about 1 to 3.

GhostFi charges a 0.6% service fee between two different coins and 0.4% for the same coin, plus the payout network fee. Sending a stablecoin from an EVM chain adds a small fixed network fee. All of it is shown on the quote before you send.

Which chains does each one cover?

THORChain's docs list Bitcoin, Ethereum, BNB Smart Chain, XRP Ledger, Solana, Tron, Zcash, Dogecoin, Bitcoin Cash, Litecoin, Avalanche, Base and Cosmos Hub. GhostFi, on 28 October 2026, accepted coins sent from Solana, Ethereum, BNB Chain, Base, Arbitrum, Robinhood Chain and Arc, and paid out on all of those plus Tron and Bitcoin. THORChain covers many more L1 coins, including sending BTC; GhostFi covers Arbitrum, Robinhood Chain and Arc, which are not on THORChain's list.

When should I pick THORChain, and when GhostFi?

Pick THORChain when you want to keep control of the swap from your own wallet, when you send BTC, DOGE, LTC, XRP or another L1 coin GhostFi does not take, or when you prefer a decentralized protocol to a service.
Pick GhostFi when your wallet or exchange account does not integrate THORChain, when you want to send from any wallet without connecting it, when your pair involves Arbitrum, Robinhood Chain or Arc, or when you want to use it inside Telegram.
For the same pair and amount, compare the final amount each quote shows.

GhostFi and THORChain at a glance

Type: GhostFi: conversion service on exchange liquidity. THORChain: Layer-1 blockchain running a cross-chain decentralized exchange.
How you swap: GhostFi: send once to a one-time deposit address from any wallet. THORChain: connect a supported wallet to an interface and approve the swap.
Custody: GhostFi: funds pass through the deposit address and an exchange during the order. THORChain: its docs say it doesn't hold your funds; vaults are run by its node network.
Fee: GhostFi: 0.6% (0.4% same coin) plus the payout network fee. THORChain: inbound, slip-based liquidity, optional affiliate and outbound fees.
Sign-up: GhostFi: none. THORChain: no account, a wallet that supports it is needed.

Questions

Is GhostFi built on THORChain?

No. GhostFi converts each order through exchange liquidity from a one-time deposit address. It does not use THORChain pools or RUNE.

Do I need RUNE to swap on THORChain?

No. THORChain's docs say a swap goes through RUNE under the hood, but it appears as one swap and you don't need to hold or manage RUNE yourself.

Can I swap from an exchange account?

On GhostFi, yes: you only send to a deposit address, so any wallet or exchange account that can withdraw the coin works. THORChain's guide starts from a wallet that you connect to a THORChain interface.

Which one is cheaper?

It depends on the pair and the size. THORChain's liquidity fee grows with the swap size relative to pool depth, plus network and interface fees. GhostFi charges 0.6% (0.4% same coin) plus the payout network fee. Compare the final amount each quote shows.

Sources

Facts about the other service come from its own pages, read on 28 October 2026. They can change: check the linked pages before you rely on them.

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