We'll be back soonThis site is undergoing maintenance for an extended period today. Thanks for your patience.
If you are wondering how to exchange Bitcoin Cash using the Binaryx cryptocurrency exchange, we will assume that you have an already registered account with a positive Bitcoin Cash balance (with more than 0 coins). The following data is provided based on this information. In case if you are Binaryx user and Bitcoin Cash holder exchanging your assets will take less than a minute.
Many services worldwide give users the opportunity to Buy Bitcoin Cash, but we promise, it will never be so fast and simple deal as while using Binaryx. Binaryx offers traditional Buy/Sell, Fast-Exchange, and Trading operations, as well as its personal services. It also helps to convert BCH to or another cryptocurrency or fiat assets in record fast time! And, for sure, we guaranty the safety of your funds during the purchase operation.
Cryptocurrency trading is an integral part of the work for the majority of users who want to make money on cryptocurrencies. More than 60% of all market operations are done in pairs with Bitcoin. There are different types of trading approaches. Mostly, types of trading differ in the amount of time devoted directly for the trading operations and the market analysis. But, no matter what kind of trader you are, do you prefer long-time or short-time investments, the basic idea is invariable: you need to buy at a low price and, Sell as expensive as possible, for the higher profit.
Bitcoin cash transactions are quite fast and trusted. Different payment methods provide different coins delivery speed. It is important to understand that all cryptocurrency asset transactions depend on network congestion. If comparing with the traditional Bitcoin – Bitcoin Cash transactions are significantly faster. The reason is that BCH has a larger block size – 8 MB, while the classical Bitcoin uses a 1 MB block. Sometimes, the network may be overloaded. The more transactions are made via the same period of time – the longer time it may take to get your operation done. It usually takes less than 10 minutes. But, even in the extreme overload market situation, it’s rare to experience a delay longer than one hour.
Storing cryptocurrency and fiat assets in Binaryx Wallet is totally free and safe. You do no longer need to have several wallets – hold your portfolio in a single place! For the convenience of users, the wallet is personalized. It displays the current position of your balance and the history of all completed transactions. Track all the movements of your assets.
There is a difference between Bitcoin and Bitcoin Cash, and they are different assets for sure!
Here are the main distinctions: Bitcoin was created with an idea of a “perfect peer-to-peer cryptocurrency” for everyday operations and transactions, but, later the coin becomes more an investment asset than just a “currency”. What was the purpose for making the Bitcoin Cash block bigger? The main task was to create the technology more scalable and process more operations per second, therefore, transactions became much faster. The idea of Bitcoin Cash is using crypto-transactions as a convenient means of payment, rather than a means of saving value. It is also worth noting the “profitability”, transaction fees for BCH are usually much lower than in original Bitcoins (BTC).
One of the reasons why Bitcoin Cash Fork had taken place was partially to answer whether separate crypto is needed to make the block size bigger. The main argument for the creation was the slow speed of Bitcoin transactions and the desire to fix it. It is believed that once cryptocurrencies will replace traditional payment systems such as Visa and Mastercard. And now, although Bitcoin and Bitcoin cache operations can process from 2 to 7 transactions per second, while Visa can process about 1700 transactions per second. In speed, for now, you need to compete for leadership.
Bitcoin Cash is not the same as Bitcoin in many other aspects too. For example, Bitcoin Cash operations do not support Segregated Witness – a solution for placing a bigger amount of transactions for one block.
In addition to obvious differences and different block sizes, there are still points in which these assets are similar. For example, both coins work like PoW to mine new coins.
Bitcoin Cash, like Bitcoin, uses the Emergency Difficulty Adjustment (EDA) algorithm which corrects complexity every 2016 blocks (in other words, approximately every two weeks). Miners could not help noticing this similarity, and of course, they took advantage of them while alternating their mining activities between Bitcoin and Bitcoin Cash. Although it was beneficial for the miners, this practice adversely affected the increase in the supply of BCH in the markets. Therefore, the BCH team has revised its EDA algorithm so that miners can easily generate cryptocurrency.
Despite the obvious differences between these coins, Bitcoin Cash and Bitcoin have some similarities in the technical part. The similarities are the same consensus mechanism and a maximum of 21 million coins supply.
Binaryx is a multifunctional exchange, offering virtual wallets for efficient cryptocurrency holding and management. While exchanging BCH you can get the following advantages:
We aim to make cryptocurrencies popular and accessible even for people who did not use digital currency. Binaryx has implemented all the necessary tools for the management of cryptocurrency assets in a convenient form, including: