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Differences Between BTC and BCH Markets

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Written by   329
2 months ago

There Loca.Bitcoin.Com to buy and sell BCH and also localbitcoins.com to buy and sell BTC. There are fundamental differences, which I noticed in local.bitcoin chats on Telegram and I am concerned about the confusion, pros and cons of the two platforms

If you're new, I explain, and if you have time in business, but you still have no idea of some difference between the concepts then I explain the following as basics

The Markets

A market is a place, physical or digital where you BUY and also SELL things. There are physical markets for fruits, meat, clothing, etc. and also digital markets for cryptocurrencies or digital currencies, and one of the most famous is localbitcoINS.com where the product that is traded there is Bitcoin Core, in Venezuela especially in Venezuela for hyperinflation thousands of Venezuelans found a way to save the millions of bolivars they had there in that market, achieving in less than 5 years figures of more than 5 billion Dollars of movements

There is also a Bitcoin Cash market with the same style of btc trading but with some very important differences Local.Bitcoin.com it is the other market with a very secure smart contract but a substantial difference with the other local, is that it has no custody of the money, which constitutes an improvement in security, because the money always belongs to traders

Custody

markets are companies that offer the buying and selling service, or serve as intermediaries, with btc you have a company that offers a very safe safe service but I would say that too safe, very strict and rather too rigorous to the point that a blue-blooded human being has no chance of buying or selling here... this shows me that the amount of scams made in this place, gives a serious blow to its structure, but not as much as, the danger that also means serving as depositing the money of traders, and it is something that in my opinion has no logic, if I am an intermediary between traders I offer the structure and the place along with the security protocols and buying and selling procedure , I approach the users, but, because I take the money and keep it and then if the buy or sale goes well, I give the money to the other party?, I think that leaves a lot to say well this, they treat Bitcoin as a cryptocurrency equal to gold, which makes no sense

Notice the differences in the name of the platforms or web pages, in that of BTC ends in coINS... and in the BCH it only has one separation point cal.bitc ... that's important visually I've noticed that many fall into confusion

Many people see the figures of the millions of Dollars in Bitcoin within Venezuela, but they ignore a very important reality, When you take the money out of BTC's home you will get a big surprise, while if you do it with BCH, you may not even notice the commission

Commissions

Withdraw from Binance to localbitcoINS: $4.70

receive P2P funds: $1.23

Total: $5.30

Withdraw from Binance to local.Bitcoin: $0.22

receive the funds in the P2P: $0.01

Total: $0.23

I think here we have an important message, in addition to it remember local.bit does not guard your money, the day a legal problem occurs with the company, the money of the traders will remain theirs always

In Venezuela and much of the world there is a need to enter the financial system, to take advantage of the import and export of goods and services, in addition to the convenience of transactions outside the complex bureaucratic affairs of banks, blockchain changes all that reality and leaves at our disposal the opportunity to send remittances and money to any country in the world without any restrictions

But one must always be cautious and this is where the issue of KYC and the identity of traders comes in

Security

LocalbitcoINS has a very strong and robust security process, so much so that to register at this time as a new user, or as a new user you have to practically leave all your identification documents to verify your identity and not generate any suspicion

Note: before it wasn't, 5 years ago in less than 30 minutes you already had your account at home, and you could do trades

Unfortunately in the case of Venezuela, there were many scams and unwanted behaviors, which led to much greater control over the merchants

Volume of movements

will depend on the number of offers published security, confidence and continuity of the market, In this we should make a call to all investors and professional traders, BCH is much cheaper and faster and this p2p market is layers of moving thousands of dollars just by switching platforms, unfortunately for local.bitcoin the amount of offers affects buy and sell prices and as there is no competition many traders put the price they want , that's a terrible disadvantage

In the BTC location there are thousands of offers and a lot of competition which makes the offers have a profit margin and many buy and sell options, that gives more sense of diversity and confidence

If you want to register in local.bitcoin enter here, and start buying BCH with your local currency from your country, and start working as a professional trader.. soon in another post, I'll explain how to make money on the Bitcoin Cash market

https://local.bitcoin.com/r/abgrobert5

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Don't forget to see our Flipstarter in less than a week we've already spent 50%, 15 days to go before the end of the campaign

https://flipstarter.casabitcoin.cash/

Roberto Garcia

Twitter: @BCHbarquisimeto

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Written by   329
2 months ago
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Comments

Nice one article

$ 0.00
2 months ago

Good one

$ 0.00
2 months ago

I'm not aware that Venezuela's money (bolivars) can be deposited and traded in any crypto market. If that's not the case, please explain which market accepts deposit/withdraw from banks in bs. so unaware people living and Venezuela can save their money in crypto. Thx

$ 0.00
2 months ago

Your question refers to ... venezuelans can deposit bolivars??? or BUY CRYPTOCURRENCIES with Bolivars to save money ???

In this post I think it's sufficiently explained

$ 0.00
2 months ago

Unclear. To buy crypto online with fiat (any fiat) you should deposit from some bank/payment processor. My question is WHICH PLATFORM ACCEPT bolivars (from a Bank) to BUY CRYPTO?

$ 0.00
2 months ago

ok now if I understand.. state platforms accept bolivars for cryptocurrencies

$ 0.00
2 months ago

Yea, a very nice post, thanks for the enlightenment

$ 0.00
2 months ago

Thanks to you for your pretty words too

$ 0.00
2 months ago

Very well written dear. So informative article it is. 💝💝

$ 0.00
2 months ago

Thank you for your nice words

$ 0.00
2 months ago

Very good explanation on local market. Thank you @BCHouseVE

$ 0.00
2 months ago

I'm glad you liked it.

$ 0.02
2 months ago

Wow! I get to understand more about the market. Thanks very much for this

$ 0.00
2 months ago

Thank you.. I'm sure you understand more.. that's the idea

$ 0.00
2 months ago

Yeah, I do. Thanks for sharing.

$ 0.00
2 months ago

You have made a very nice post, we need to know about all these things, thank you, I hope you will give more necessary information.

$ 0.00
2 months ago

Thank you for your observation.. we'll keep working

$ 0.00
2 months ago

Nice

$ 0.00
2 months ago