With so many cryptocurrencies available, it is natural to want to occasionally convert one for the other. Whether you want to learn how to convert Bitcoin Cash to Bitcoin or just want to confirm the differences between them before you do so, you will have a few important details to learn.
Difference Between Bitcoin and Bitcoin Cash
Before you start converting one cryptocurrency for another, take a minute or two to confirm that you understand the difference between BCH and BTC.
What Is Bitcoin?
It is the first cryptocurrency. Satoshi Nakamoto, a pseudonym, introduced the idea of Bitcoin in a whitepaper and created it in 2009. Bitcoin relies on peer-to-peer technology, so it can operate completely decentralized. It was launched to offer quick transactions, low processing fees, and worldwide payments.
Bitcoin Cash was created as a fork from Bitcoin in 2016. The fork was intentional to maintain the basics of Bitcoin but to change some of its key elements. Compared to Bitcoin, Bitcoin Cash has quicker transaction times, lower transfer fees, and the ability to handle more transactions per second. The main change that allows for these differences is that BCH has larger blocks than BTC.
Bitcoin or Bitcoin Cash: Which One Is Better?
Now that you understand what is Bitcoin Cash and what is Bitcoin, which one is better? There is not necessarily an answer to this, as they have their own advantages.
If you want to own a cryptocurrency with a larger community or a bigger market cap, opt for Bitcoin. It has the largest market capitalization of any cryptocurrency. Thanks to its long history, there is more widespread adoption for BTC than for BCH. This means that if you want to use your crypto to pay for goods and services, you will have a better chance of doing so with Bitcoin than Bitcoin Cash.
If you want to use your cryptocurrency for transactions and take advantage of lower transaction fees and quicker transactions, Bitcoin Cash will be the way to go.
You also do not have to choose between BTC vs. BCH. There is nothing wrong with owning a bit of each. This can be the case whether you want them for practical use or investment reasons.
How Do I Exchange Bitcoin and Bitcoin Cash?
To exchange Bitcoin and Bitcoin Cash, you want a wallet, exchange, or mobile broker. 7b offers a great choice as a cryptocurrency broker. This is an intuitive mobile app for your Android device.
If you don’t already have an account with this Bitcoin Cash app, you can create one within a matter of minutes. You will then fund it by clicking the “Deposit” button. Then, you will see the relevant information you need to make a deposit, including the destination wallet address. You can copy that address to send your BTC or BCH to your 7b wallet.
Once you have BCH or BTC in your 7b account, the process could not be easier. You will see the screen below when you go to make an order. Notice that “I want to buy” is on top and “For” is on the bottom.
So, if you have BTC and want to convert it to BCH, you would select BCH from the drop-down menu on the top and BTC from the menu on the bottom. If you have BCH and want to convert it to BTC, do the opposite.
For your convenience, you can choose how much crypto you want to convert by entering a number or selecting a percentage of your balance. 7b is transparent, so you will see the exchange rate between the two sets of boxes.
Next, submit your order, and you will have successfully converted your BTC for BCH or vice versa.
You can also follow the same process for the other 2,000+ cryptocurrency pairs on 7b.
Try 7b Cryptocurrency Broker App!
To easily convert Bitcoin to Bitcoin Cash, convert Bitcoin Cash to Bitcoin, or convert another cryptocurrency pair, download the 7b app. You can visit the website and get the download link there or get it directly from Google Play. Just follow the in-app instructions to set up and verify your account within minutes.