Is it possible to convert ETH to Bitcoin without going through a centralised exchange?

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Yes, thorchain.  Just depends on how much you are converting, fees can be expensive vs exchanges.

I don’t think this is exactly what you’re looking for but swapping BTC to ETH is straightforward using Ledger. 

Takes minimal time, usually the constraint is the Bitcoin block time.

threshold (tBTC) works for me both ways https://threshold.network/

Thorchain is the best dex for native assets swap