EXCHANGE BITCOIN TO BITCOIN CASH
What do you need to know?
- The average time for exchanging BTC to Bitcoin Cash is 10-20 minutes
- You only need 1 confirmation of the Bitcoin blockchain for the exchange
- Bitcoin transaction confirmation rate depends on the level of blockchain network congestion
- We use segwit Bitcoin addresses for faster and cheaper transactions, if your wallet does not support this type of address, contact technical support to change the address
Bitcoin is the first decentralized cryptocurrency
Bitcoin is the oldest and most popular cryptocurrency. Its dominance index over other cryptocurrencies ranges from 30% to 80%.
What if I can’t send Bitcoin to your wallet?
Most likely the fact that your wallet does not support sending on SegWit Bitcoin address. We use SegWit, because thanks to this technology, transactions are included in blocks more faster and the miner’s fee is much lower than in other versions, so the transaction is faster and cheaper. You can read about versions and differences of Bitcoin addresses in our article.
If your wallet does not support sending to SegWit addresses, we recommend that you think about changing your Bitcoin wallet, as it uses outdated technology.
Also, if you want to make an exchange you can always contact our support, we will change the wallet address inside your order to the standard one in real time.
How to estimate the confirmation time of the transaction?
There are several ways to estimate the time of confirmation of the transaction, but you need to understand that it is impossible to calculate it accurately since many factors affect the passage of your transaction, you can read more in our article.
- The easiest way to find out when the first confirmation of the network is to go in the service of collecting statistics from BitcoinFees Earn.com there you can see when your transaction gets into a block, depending on the fee which you sent it.
- You can also use the Explorer Blockchair.com where you can see the priority of the transaction. The first number is what place in the queue is a transaction, the second how many transactions are pending (e.g. priority 1676/9495). Each block includes approximately 2500 transactions, we see that our transaction is in 1676 place in the queue, and therefore must pass in the next block.
It is important to note that to increase the number of confirmations, a new block must appear, blocks in bitcoin can go from 1 to 75 minutes. The average time of Bitcoin block appearance is 10 minutes.
You can read more in our article about the confirmation time in the Bitcoin network.
On August 1, 2017, the digital market saw a new cryptocurrency based on the BTC blockchain, which was named Bitcoin Cash. The split occurred on the block 478558 Bitcoin. It had a common part of the blockchain until the hard fork, and all subsequent blocks were already formed into a new chain. Bitcoin Cash is called the most successful fork of bitcoin.
When will Bitcoin Cash arrive in my wallet?
We send Bitcoin Cash immediately after the completion of the exchange, but the time until the first confirmation depends on the output of the blocks. Bitcoin Cash blocks, like Bitcoin, can go from 1 to 75 minutes. The average time a Bitcoin Cash block appears is 10 minutes. Therefore, Bitcoin Cash does not apply to fast currencies.