A good cryptocoin exchange like CoinSwitch makes it easy for crypto enthusiasts to easily convert Bitcoin Cash to Bitcoin. Not only is it user friendly, secure and reliable but it is also a great resource for beginners and experts to learn more about the crypto space.
The world’s biggest crypto exchange aggregator crawls all the most popular exchanges to offer the best exchange rates all day every day. CoinSwitch supports over 400 coins and 45,000 trading pairs.
Before we get down to discussing how you can convert BCH to BTC, you will need a reliable Bitcoin wallet if you don’t already have one. If you’re unsure of what choice to make, you can always choose one from CoinSwitch’s list of recommended wallet.
Your wallet could be a hardware or a software wallet. Ledger Nano S and Trezor are the most popular hardware wallets but they are an investment and if you’re new to the crypto space you may not be ready to make that investment. Also, hardware wallets can make it difficult to conduct everyday transactions. You can instead choose a software wallet or a mobile or desktop application until you learn the ropes.
Here all the steps you have to follow to convert Bitcoin Cash to Bitcoin –
- Check the homepage for the exchange rate: Enter the amount of Bitcoin Cash you are looking to convert and the right trading pair. The rate displayed is the best exchange rate. Currently at the time of writing this article, 1 BCHSV = 0.013520 BTC. This exchange is only supported on Changelly as none of the other exchanges support BCHSV. Also, BCHABC is not supported on any exchange.
- Find the best offer: Click on ‘View All Offers’ to see what each exchange is offering for the trading pair. The best exchange rate is usually marked ‘Recommended’ but since only Changelly is offering this conversion, it is not the case with this transaction. Usually there are some fixed prices as well as you know that crypto is very volatile and the rates may change even during the time of transaction.
- Enter your Bitcoin wallet address: Select Changelly’s offer and enter your Bitcoin wallet address. Your wallet address starts with 1 followed by a string of numbers and letterrs. Once you do that, you will be asked to deposit Bitcoin Cash to a wallet held by CoinSwitch and the conversion will start. You can scan the QR code to access the wallet address but the memo must be entered manually
- Conversion: Transactions usually take 15 minutes. If the transaction size is huge or blockchain speed is low, it may take more time. You will receive a transaction hash after the conversion has been completed anonymously.
If you want to exchange Bitcoin Cash to other coins, you can look up the entire list of crypto tokens that CoinSwitch supports by clicking on ‘Supported Coins’. There are over 400 coins with more being added regularly.
CoinSwitch takes privacy and anonymity pretty seriously and if you value those things, you will find using CoinSwitch a very smooth experience. No account setup is required and your transactions are not traceable on the exchange.
CoinSwitch is also very reliable but it is not recommended that you store your holdings on this exchange or any exchange for that matter to ensure you keep your investment. Most exchanges are vulnerable to hackers and compensation is rare if at all.