Bitcoin Cash (BCH) is a cryptocurrency that has many of the undistinguishable features as Bitcoin (BTC) yet also gathers several features that set it apart. Bitcoin Cash is a deconcentrated electronic cash system. It does not depend on absolute authority like a financial or government institution. Bitcoin’s inaugurators and miners initiated it – they were agitated with the future of cryptocurrency and its ability to scale productively. Bitcoin cash (the network) is a method used for increasing and supporting global economic freedom.
Bitcoin cash has made great noise ever since the time it was launched on August 1st, 2017. It has also been split many times via the process known as Bitcoin forking. It has its specifications and blockchains that include significant divergence from Bitcoin (BTC). BCH has accomplished an increased block size of 8MB to enhance the verification process, with a versatile difficulty level to ensure the chain’s transaction verification speed.
In 2018, the Bitcoin Cash (BCH) block size was magnified by 4× to 32MB, but actual block sizes on Bitcoin cash have remained only a small limit of 32MB.
There are more transactions happening with the Bitcoin Cash (BCH) system per second than the Bitcoin (BTC) network can – limits wait times, and transaction processing fees can be less, making it a more effective alternative to other payment methods like Mastercard and Visa.
How does Bitcoin Cash (BCH) Work?
Bitcoin cash is the most popular and well-known exchange, and currently, it is on the top 5 cryptocurrency list in the world. The main motive of Bitcoin cash is to be used as a payment system, so you can send and receive your funds! Bitcoin cash has been using larger block sizes to run transaction process more quickly – these transactions instantly work that you can make a grab-and-go retail buy with BCH. All transactions are documented on a global public ledger called blockchain, allowing you to easily see the entire history of ownership and minimize the potential for fraud. A great website named AcceptBitcoinCash lists all the various merchants that permit you to use Bitcoin Cash and incorporate things like accommodation, casinos, music, fitness products, clothes, and much more!
Let’s see the complete process of BCH to BTC exchange!
Exchange Bitcoin (BTC) to Bitcoin Cash (BCH) or Vice Versa
If you want to exchange your BTC for BCH by getting the original currency that retains skyrocketing, here is our step-by-step guideline.
- On a homepage screen, select the amount of BTC you want to exchange. After it, you’ll see the estimated BTC rate on the right side, press the ”Exchange” icon, and check the information – change it, if needed, and move along to the next step. Now designate your BCH wallet where you want to send your funds and check thoroughly all the information you’ve entered.
- Consider that the amount in the field ”you get” is estimated, which means it remains intact during the exchange process, yet confirm the payment only if you agree with it. Send your coins to the address in one transaction – scan the QR-code or copy the address with your wallet app. Make sure that you’ve 24 hours to send your money; otherwise, your transaction will be canceled automatically.
- After that, head to your BTC wallet, paste the address into the corresponding field and wait until your transaction is completed. Here you go! Your transaction is finished, and now you can check your BCH wallet; also, consider that your wallet may require further confirmations to display your received funds. You can also convert BCH to BTC or ETH to BCH exchange by following the same process.