Legacy Address Vs Cash Address on Bitcoin Cash
The Difference Between Bitcoin Cash Legacy Address and CashAddr
Been across any of these terms while transacting Bitcoin Cash? The CashAddr and Legacy Address are both address formats for bitcoin Cash but what makes them different? In the course of reading through, you'll get to learn the differences between these address formats.
**Introduction**
Addresses in the Blockchain technology are otherwise termed as the public keys, this key allows anyone to send or share a crypto currency with the primary party which is the owner of the Key. They are equally as important as the private keys but private keys are not to be given out or made public for security sake.
Initially, Bitcoin and Bitcoin Cash were one big digital currency. Then, Bitcoin was smoothly operating as a digital currency for peer to peer transactions until the fees for transacting because a cause for review. That brought about a proposal by a group of Developers to expand the block size to ease multiple transactions with lesser fees but that was rejected and it caused a hard fork which brought to existence Bitcoin Cash.
At the initial stage, Bitcoin Cash and Bitcoin shared almost a similar address format, which is now called the **Legacy Address** until a proposal was made and the **CashAddr format** was introduced.
**Bitcoin cash legacy address vs Cashaddr Format**
**Legacy Address**
A legacy address for bitcoin Cash is an old address format (usually looks like a Bitcoin address) which is no longer supported in most wallets. Does that mean that the Legacy address is totally useless? No. One can still make use of the the legacy address in wallets still supporting them but for wallets not supporting the Legacy address, you will have to change your legacy address to a CashAddr format.
**CashAddr format**
This was implemented after the hard fork on Bitcoin which gave birth to Bitcoin Cash to enable bitcoin Cash users able to distinguish between a bitcoin and a cash address. This also limited to the risks of losing funds to a wrong address.
CashAddr Formats usually appear with a sort of prefix like "Bitcoincash:" before the address. Example, bitcoincash:qpahdjavdbdjjsudhdhdbddhskaksk.
Differences Between The BCH Legacy Address and CashAddr
Medieval would be the best word to describe the Legacy Address, an old time format while the CashAddr is what is currently in use for bitcoin Cash Transactions.
**Please Note** that the essence of converting a Legacy Address to a CashAddr format is to enable those whose wallet do not support transactions using a legacy address. If your wallet still Supports transacting with a legacy Address, then all you need is get your Binance BCH wallet address (usually a legacy address) and make your Transaction.
The Legacy Address could be easily distinguished from the CashAddr through the absent of the prefix 'bitcoincash:' as it is usually Included in the CashAddr format.
Also, it is noticed that the CashAddr format usually begins its address with 'p' or 'q'.
This two addresses can equally be used to transact Bitcoin Cash BCH but, must be converted to a supported format before being used. For Instance, to deposit Bitcoin Cash in Binance, it is required that the legacy address given by Binance is converted to a CashAddr format, then used for transaction.
Also, note that you will automatically lose access to your asset is you send to a Legacy Address from a Cash Address. The Legacy Address must be converted to a CashAddr using a legacy address converter.
Investing in Crypto currencies are based on speculations so, it is adviseble that before investing on Crypto Currencies, one must DYOR.
How To Buy And Sell Bitcoin Cash Using Localcryptos.com
As Crypto Currencies continue to earn their ways into real time usage, people get more interested on how to earn them and also buy them. In as much as this trends increases, scammers are carefully seizing the opportunity to scam majority of persons that happens to fall into their traps. So bad isn't it?
If you're such a person who is interested in buying a crypto currency such as Bitcoin Cash, Localcryptos formerly **local.bitcoin.com** is one of the legit platforms to buy and also sell bitcoin Cash alongside other crypto currencies like Bitcoin, Dash, Ethereum, Litecoin. This article will expose you to practical ways on how to make use of **localcryptos** to buy and sell Bitcoin Cash without the fear of getting scammed. https://localcryptos.com/
What's Localcryptos.com?
A Marketplace, yes, localcrypto.com is a non-custodial market place where anyone from any location can buy or sell Bitcoin, Bitcoin cash, Litecoin, Ethereum and Dash for local currencies like the US Dollars, Nigerian Naira, Canadian Dollars etc. Unlike the normal market place that requires KYCs, localcrypto.com performs trade online in a peer-to-peer manner.
**Read Also**: 5 Ways To Earn Bitcoin Cash For Free https://read.cash/@BitcoinCash247/5-ways-to-earn-bitcoin-cash-for-free-ef82faa0
**Advantages of Using Localcryptos.com**
Non-custodial
Localcryptos is a non custodial platform and doesn't take custody of your coins during trade. That means you can withdraw your coins at any point in time.
Fast and Secured
Bitcoin Cash itself transacts fast. Trading bitcoin Cash on localcryptos.com is fast as well because transactions take place on bitcoin Cash Blockchain. Also, all trades can be carried out with total confidence as it is protected by an encrypted *blind escrow*.
Private
You don't need a third party person to effect your trade. It can be done at your convenience. You own ultimate access to your keys at all times.
Decentralized
Localcryptos.com is decentralized, Trader A can sell from England to Trader B that stays in Dubai within seconds.
Supports Multiple Payment Method
Unlike other market places with limited methods for payment, localcryptos.com offers all the available payment methods so that anyone can perform a trade without difficulties.
**Understanding the Term Blind Escrow**
Noticed that we had to include the blind escrow using an italic font? That is because you may not have been familiar with the word and what it means.
An escrow in a normal sense is usually a third party that stands between two traders, holds money or an asset on behalf of the other two parties in a transaction but a Blind Escrow in terms of local.bitcoin.com isn't a person but a secured code written in such a way that it holds a coin awaiting payment by the buyer.
How Localcryptos.com Works
First, you'll need to get registered to localcryptos.com, don't get scared, it's registration process is simple and doesn't require any KYC.
After that, view the buy and sell listings. That's where you'll find Persons who are offering to sell their Bitcoin Cash and likewise those who are looking for sellers to buy from. You can get Custom results to suit your location, payment method.
Found a suitable trader? Start the trading process. Open a trade with an existing buyer or seller if you’ve found a listing that suits your budget. If you wish to sell yours, create your own and publish it to the platform for other traders to see.
Get to complete the trade. If you’re buying, send payment directly to the seller; if you’re selling, send Bitcoin Cash to the blind escrow on the localcryptos.com platform. Once payment is received by the seller, the BCH gets released to the buyer and trade's completed.
In addition, local.bitcoin.com offers a referral program where anyone can actually earn by referring one to trade on the platform. Whenever someone signs up using your unique link, you get to earn 20% of fees incurred by their trades throughout the lifetime of their account. Note also that affiliate payments are made at the end of the month.
You can decide to signup to Localcryptos.com using my referral `https://localcryptos.com/r/Bestiecrypto`
**Recommended Browser**: CryptoTab https://cryptotabbrowser.com/9902707
How To Send And Receive Lotus (XPI) Via Lotus Vase
Hey Lotusians, I believe every intending or aspiring appreciator will want to know how to send and receive Lotus (xpi), The token of appreciation.
In as much as there are other possible ways to do this, using the lotus vase is one of the easiest methods to do so, that's because Lotus Vase is the official mobile wallet for Lotus.
What is the Lotus Vase
***Lotus Vase is the official mobile wallet for Lotus (XPI)***.
Being that lotus is generally known to be a flower, and flowers are kept safe in a vase, **Lotus vase** keeps your Lotus (XPI) safe and ready to be utilized.
What else can the Lotus vase do? Well!, asides from keeping your XPI safe, Lotus Vase allows you to to send and receive lotus to or from a loved one, a family member etc.
Also, it gives you the rights to your private keys.
How To Setup a Lotus Vase
The Lotus Vase is available for both **Android** and **iOS** users and can be downloaded through the Play store and App store respectively.
**Step 1**
Type **"Lotus Vase"** and search on your custom stores (Android, iOS). In the illustration, I'll be using the play store for Android.
**Step 2**
From your search results tap on lotus vase as shown above then, install.
**Step 3**
You can choose create a new wallet or import an existing lotus wallet if you've had any. **Ensure** that you carefully copy out your seed phrase.
Setting up is just as simple as that, you can imagine. Now, Sending and receiving is just as simple as setting up too and with this guide I bet you won't go wandering around.
How To Send And Receive Lotus (XPI) Via Lotus Vase
Credits to the Lotus Vase developers, they've made using the vase so easy from its interface.
In order to **send Lotus**, simply key in the quantity of Lotus you wish to send, tap on send, paste the receiver's address or scan receiver's QR code to activate the tick icon below.
Confirm the receiver's address again and again then tap on the tick icon to process transaction.
In order to **Receive Lotus**, simply tap on the request button to reveal your lotus address and QR code just as shown in the picture below.
Copy and send address to the sender.
**Conclusion**
At the end of reading this, I believe I've been able to create value through writing. Incase of further explanation, questions kindly send a direct message to https://t.me/myguideout.
The Future Of Peer-to-Peer Electronic Cash is Bitcoin Cash
Bitcoin Cash - The Future of Peer-To-Peer Electronic Cash
**Introduction**
The rise of crypto currencies (Bitcoin) sparked a new wave into the research of alternative currencies and digital payment systems. Several projects have been given birth to in the process with aims to solve the limitations of existing digital currencies.
One of such Innovations led to the creation of Bitcoin Cash, considerable in diversity, unstoppable and a coherent alternative to Bitcoin as a digital currency.
Just like the evolution of mankind, which is believed to have evolved from an ape, money has evolved too from barter to gold to metal coins to fiat to electronic money then to digital money (crypto currencies)
There are ongoing controversies on which digital currency is on the pathway to the future as the best alternative for digital currencies. The purpose of this article is to create an insight on why Bitcoin Cash is the future of Digital money and a better alternative to Central Banks.
The Basis of creation of Bitcoin Cash
Before The creation of Bitcoin Cash, An anonymous programmer dubbed *Satoshi Nakamoto* paved way for the existence of crypto currencies then he published a **Whitepaper**. The Whitepaper portrayed a vision of a digital money that could replace the paper money and used as a digital currency for Peer to Peer transactions. https://www.google.com/url?sa=t&source=web&rct=j&url=https://bitcoin.org/bitcoin.pdf&ved=2ahUKEwjMl_Ly8K_uAhU1oXEKHZ_3As0QFjAAegQIARAB&usg=AOvVaw05-4mYD7EyyKjwcHh8i0Vw
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution
The vision went on well but gradually got dimmed when transactions hiked and merchants, peers had to extreme fees to get their transactions mined to the blockchain. Proposals to curtail the development was denied leading to a hard fork which gave birth to **Bitcoin Cash**.
Bitcoin Cash stood out with a solution to becoming a better version of digital money, creating posibilities to eliminate jammed transactions by increasing it's block size and also having it's fees low despite an hike in transactions.
The Future of Digital money
The future may be unforeseen but certainly is becoming more digital and the potentials portrayed is enough for Bitcoin Cash to be the most transacted digital money. As Bitcoin portrays it's nowadays as Digital Gold deviating from it's initial cause, Bitcoin Cash portrays itself as Digital Money, which can be easily integrated into use cases in our day to day activities.
It is impossible to be called a peer-to-peer version of electronic cash without real life use cases that can promote and solve the financial limitations of the world. The expansion of economic activities requires more convenient forms of money to respond to increasing demand, be used efficiently in trade, and have a stable value.
The Future of Digital money relies on factors that are evenly present on Bitcoin Cash.
Fast for Peer-to-Peer transactions therefore enhancing trades to be performed digitally, Low cost transaction fees encouraging increased daily use cases, a decentralized team of developers making its core not decentralized, Open source code for anyone to build on it, Limited supply making a scarce asset.
Bitcoin Cash - An Alternative to Central Banks
The use of cash especially in the developing and underdeveloped world is sympathetic. Citizens find it difficult to access their own cash stored in the Banks, with lots of discouraging regulations.
Bitcoin Cash is way faster than the central banks, it's digital state of existence makes it impossible to be counterfeit.
It also offers it's users unlimited access to their cash with no enforcement of taxes and charges less for transactions.
With all these features Bitcoin Cash stands a better alternative for the Central Banks. An approach is being made to replace fiat transactions through financial institutions - The idea of Merchant Adoption.
**Bitcoin Cash Merchant Adoption - An approach to replacing Central Banks**
In an attempt to secure the future of digital money, the Bitcoin Cash Community asides from building more solutions through DeFi, Payment Options, Securing cash and providing privacy, they also have a fore-aim - **Merchant Adoption**.
The ability to trade from different locations of the world using Bitcoin Cash will not only build the market capitalization of Bitcoin Cash but also gradually diminish the effectiveness of the Central banks as they are already prone to extinction.
A focused team for Merchant Adoption such as @SatoshisAngels@marcfalzon has been deployed to tackle the effectiveness of the Goals of Merchant Adoption. Special thanks to @MarcDeMesel for his immense support to developers and content creators.
**Conclusion**
The future of Digital cash is Bitcoin Cash.
3 Ways To Create An SLP on Bitcoin Cash
Are you interested in creating a Token to represent your brand, business and for every other incredible purposes? Here's an opportunity for you to Learn how to create a Token. Let's Dive in..
What Is the Simple Ledger Protocol?
The Simple Ledger Protocol abbreviated as SLP is a simple token system for bitcoin cash, this allows anyone, business to create a token on the Bitcoin Cash BCH BlockChain.
Interestingly, Tokens can be created for so many innovative purposes like virtual gaming credits, Community appreciative tips, business dividends and lots more. Also, Tokens can be traded on exchanges without a middle man.
**Why You Should Create Tokens Using The Simple Ledger Protocol**
Some would want to have good reasons why they should create Tokens on SLP. Let's take a look at this;
**Onchain Transactions:** SLP transactions are fully on the Blockchain making it easy for audit ability by any party
**Decentralized:** Tokens can be exchanged peer to peer with no trusted third party.
**Open Sourced**
**Easy To Use**
**How To Create SLP Tokens On Bitcoin Cash**
**Create SLP Tokens Using MintSLP**
MintSLP is a Bot service that uses the blockchain to help you create your own cryptocurrency token and share it with others. Using MintSLP, there are no requirements for technical knowledge as the bot is already pre designed to make Token creation easy.
Follow these steps to create a Token with MintSLP;
Download a Telegram app or log into your Telegram app if you have one already.
Send a direct message to @MintSLPBot with the command create (token name) (token symbol) (decimal places) (quantity). Example: create splendid SPLENDID 8 100000
This will create 100,000 tokens named Splendid which can be divided to the 8th decimal place.
With that, you've successfully created a Splendid SLP token on the Bitcoin Cash BlockChain which can be stored in any SLP supported wallet.
Explore More about using MintSLP https://mintslp.com/getting-started
**Create SLP Tokens Using Mint.Bitcoin.Com**
To Create a Token using this method, a little fraction of BCH will be required, let's say $0.05. Now here's how to create a token using mint.bitcoin.com.
Visit mint.bitcoin.com https://mint.bitcoin.com
Tap on Create, under New wallet.
Tap on Send to deposit a fraction of BCH, like $0.05
After a successful deposit, switch to create.
Include your Custom token symbol, token name, decimals and quantity.
Add your Token icon
Tap on More options to add a White paper, website for access to your token.
Tap on Create to create your Token.
Learn more about using Bitcoin.com mint https://news.bitcoin.com/how-to-create-custom-slp-tokens-with-the-bitcoin-com-mint/
**Create SLP Tokens Using Electron Cash SLP Edition Wallet.**
Download and Install the Electron Cash SLP Edition Wallet
Setup your Electron Cash wallet, this will require you connecting to a server.
Name your wallet and Select what kind of wallet you want to create.
You'll be required to add a little amount of BCH to your wallet, let's say $0.05. Once this is done, you can now create a Token.
Fill in your Token name, a Ticket symbol, document url, decimals and token quantity.
Click on Create New Token to complete your process.
Learn more about using the Election cash SLP Edition Wallet https://simpleledger.cash/project/electron-cash-slp-edition/
In Conclusion,
Anyone, Anywhere can create a Token on the Bitcoin Cash Chain because it's easy to create and distributing them amongst friends is fun. But, the most difficult part of owning a Token is adding value to it.
**You Can Read Also:**
How to Secure Your Bitcoin.com Wallet https://read.cash/@BitcoinCash247/how-to-secure-your-bitcoincom-wallet-9c6b2ca2
Why You Should Invest In Bitcoin Cash https://read.cash/@BitcoinCash247/why-you-should-invest-in-bitcoin-cash-22e1f0e1
All You Need To Know About Honk tokens https://read.cash/@BitcoinCash247/all-you-need-to-know-about-honk-token-174dfbb5
Effects of Covid-19 On Bitcoin Cash Adoption https://read.cash/@BitcoinCash247/effects-of-covid-19-on-bitcoin-cash-adoption-097a3605
`Disclaimer`
*Note that this article is subjected to corrections and can be further developed if changes occurs within the systems listed. A more accurate information to these process can be found on the systems official sites which have been listed after the steps.*
How To Buy and Sell Lotus (XPI)
Are you in search of a reliable exchange to trade your **Lotus (XPI)** coins?
Although, there are no direct ways to possibly buy ***Lotus (XPI)*** using your native fiat but then using an exchange called Exbitron, one can easily trade XPI with or for ***Tether (USDT)*** and ***Bitcoin Cash (BCH).***
Perhaps you are here mistakenly but yet curious to know what Lotus is, I'll include a bring introduction of lotus in the next paragraph.
What Is Lotus (XPI)?
The name Lotus can originally be referred to a flower with significance linked to purity, enlightenment, self-regeneration and rebirth.
Due to the significance of it's originality, the name Lotus was sorted out to suit the purpose of the project which envisioned a priceless way to show appreciation.
Lotus (XPI) is a priceless digital token of appreciation that you can always keep at hand. - givelotus.org https://givelotus.org
How To Buy and Sell Lotus (XPI)
As at the time of writing, Exbitron is the only verified source to trade you XPI coins as it is enlisted officially on givelotus' website. So, in order to trade one needs to create an account on Exbitron. https://exbitron.com
Signing Up on Exbitron
Signing up on exbitron requires a few setup which will demand your email address. It takes less than 5 minutes to setup an account on exbitron. The steps below will guide you through the process.
For the purpose of this article, I'll be using my Exbitron referral link as your sign up link. Click on https://www.exbitron.com/signup?refid=ID7F5ED0796E
Fill in your email, Password and confirm your email address. On the referral code box fill this in **ID7F5ED0796E**.
Read The terms and agree if you're conversant with it then proceed by clicking register.
For security purposes, an authenticator will be required (Google Authenticator preferred).
How To Buy Lotus (XPI)
As mentioned earlier, Trading XPI on exbitron is paired to Tether (USDT) on trc20 network and Bitcoin cash (BCH) on the bch network.
So, in order to buy Lotus, you need to make a deposit of either USDT or BCH to Exbitron.
Go to wallet on Exbitron
Click on USDT or BCH to make deposits respectively.
After deposit is successful, Go to home and select xpi paired to your preferred asset (XPI/USDT or XPI/BCH) Then click on trade.
Create your buy order.
Congratulations you've successfully purchased some Lotus (XPI) coin.
How To Sell Lotus (XPI)
You can trade your Lotus (XPI) for usdt or Bitcoin cash. In case you need to trade them to your local fiat then you could go extra miles to exchanges that supports trading USDT and Bitcoin cash to fiat such as Binance.
Find Lotus on your wallet in Exbitron then click on deposit.
Once deposit is successful, Go to home and select xpi paired to your preferred asset (XPI/USDT or XPI/BCH) Then click on trade.
Create a sell order to sell from xpi to usdt or Bitcoin cash
Congratulations, You've been able to sell your Lotus (XPI) to Usdt or Bitcoin Cash.
Read this if you need reasons to invest in Bitcoin Cash
**Introduction**
In recent times there have been a lot of arguments within the crypto space on which digital assets to invest in, **Bitcoin** or **Bitcoin Cash** and we've heard and seen several views from different persons but still we need more convincing reasons why we should invest in **Bitcoin Cash**.
Some would easily say they will choose investing in Bitcoin rather than Bitcoin Cash because they see others do instead of looking deep into the Advantages and more reasons why they should. Some say they will choose to invest in Bitcoin because the Price gets over $20,000. Well! One needs to see more reasons why they should invest in Bitcoin Cash and in our own view, below we'll list several reasons why you should invest in Bitcoin Cash.
**What Is Bitcoin Cash**
Bitcoin Cash is A Decentralized Digital Currency built to solve delays and difficulties in Remitting and also to serve as a save Haven for Peer to Peer Transactions.
Bitcoin Cash was Forked from Bitcoin in 2017 having realized that Bitcoin was deficient in fulfilling Satoshi's vision of Peer to Peer Transactions.
**Why You Should Invest In Bitcoin Cash**
**Adoption Of Bitcoin Cash For Remittances**
When it comes to Remittances, Bitcoin or any other crypto currency can't stand a test with Bitcoin Cash, not for larger transactions and definitely not for micro transactions too.
For instance; If you have $5 worth of Bitcoin Cash, Bitcoin, Ethereum and you're sending it to a friend, Only the transaction on Bitcoin Cash could scale through where as it will take $5 to send $5 using Bitcoin and even more using Ethereum.
So, imagine investing in a Digital Currency that assures you of a store of value even when Remitting across borders.
**Has An EVM Compatible Sidechain - SmartBCH**
The introduction of an EVM compatible sidechain to Bitcoin cash is a huge step towards mass adoption. With an EVM compatible sidechain, Bitcoin cash is able to do likely everything that is possible on Ethereum virtual machine. Games, NFTs, DEX and more are now being built on the BCH sidechain, SmartBCH.
**Not Owned By A Government**
Bitcoin Cash is Decentralized, not controlled by a person or government so you don't need to pay taxes for investing. For countries with an unstable economic system, Bitcoin Cash can be a solution because it doesn't require signed documents to be processed, no limitations by Laws and no rejected transactions.
**Liquidity**
Let's talk about liquidity as a reason why you should invest in Bitcoin Cash. Liquidity, the ability to Exchange assets for Fiat without affecting the price of the asset.
As an investor, when profits are accumulated, you might decide to take out your profit or reinvest them. How would you feel if you get half the value of your profit when you want to use it? It makes no difference with paying percentages to Banks for Keeping your money where as Satoshi's white paper never said so.
You can only get same the value of your profit while converting to Fiat or while Reinvesting on Bitcoin Cash as it is built to ensure liquidity to your assets.
**Active Community**
Bitcoin Cash has an active Community of Developers working tirelessly to build more Innovation in order to solve the world's needs. This will not only yield to an increase in the market cap but also an increase in value.
Knowing well that Bitcoin Cash happened to be a part of Bitcoin before the Fork on 2017, majority of the Developers who left for Bitcoin Cash are well talented, building several projects for the sustainability of the Digital asset which would in the Nearest future bring Bitcoin Cash ahead of Bitcoin.
**Flexibility In The Market**
With Bitcoin Cash, you can import, export and pay in any amount for your goods within seconds. With a block size of 32mb which can accommodate multiple times transactions at a time than that of Bitcoin. This means that you can send and receive Bitcoin Cash within seconds of transacting without rejected transactions, delays or limitations.
**Micro Fees**
The Bitcoin core fees are much higher compared to fees on Bitcoin cash, according to the developers, this is due to the fact that there are limitations to Bitcoin's block capacity.
When there are congestions on the amount of transactions made on the Bitcoin's BlockChain at a time, it results in an increase in transaction fees.
In the case of Bitcoin Cash, it is very different, Bitcoin Cash transaction fees are much less as the block space is not limited to a low capacity. This allows you perform any amount of transaction with a little or no fee.
In Conclusion,
There are no much differences between Bitcoin and Bitcoin Cash except for the fact that Bitcoin Cash aims to follow the original ideas of Bitcoin in being peer-to-peer electronic cash. This Simply means that Bitcoin Cash is a better version of Bitcoin and is highly recommended for Investors like you.
SmartBCH Weekly News - 19-03-2022
https://youtu.be/MKiuqLnixC0
Headlines
Mistswap re-weights 5 new farms; GoC, xMist, ORB, Spice & Joy
Bch.Domains complete LNS Airdrop For xMist Holders
Paytaca Announces Support For BCH - SmartBCH Swaps
SideShift.ai integrates Bitcoin Cash's EVM-Compatible Side chain - SmartBCH
News In Detail
Mistswap re-weights 5 new farms; GoC, xMist, ORB, Spice & Joy
Mistswap, A DEX provider on SmartBCH took to it's official twitter handle to announce that five new farms have been reweighed.
It further mentioned those newly reweighed farms to be GoC, xMist, ORB, Spice & Joy.
Start Farming https://app.mistswap.fi/farm?filter=all
Bch.Domains complete LNS Airdrop For xMist Holders
It is a lucky week for xMist Holders following the successful airdrop of LNS (A naming service for Bitcoin Cash built on SmartBCH).
Interestingly, LNS can be staked and traded as an NFT either ways to yield more value.
Get more details https://twitter.com/bchdomains/status/1504903456716378114?t=8RVg_3o5SHv3KLO0Gw7nvw&s=19
Paytaca Announces Support For BCH - SmartBCH Swaps
Paytaca wallet takes storing Bitcoin Cash to the next level by enabling support for it's users to perform swaps to Bitcoin cash's side chain, SmartBCH.
Get More Details https://twitter.com/_paytaca_/status/1505024973257469953?t=d2xOulFb3L2sSWp5wFaPwA&s=19
SideShift.ai integrates Bitcoin Cash's EVM-Compatible Side chain - SmartBCH
The no-sign-up crypto exchange SideShift.ai now allows it's users to shift BCH to it's side-chain, SmartBCH.
This function for now applies to Bitcoin cash and FlexUSD only.
Get More Details https://twitter.com/sideshiftai/status/1504076375434555393?t=puaMiDZfhl6c0xMRCqHGQA&s=19
`This news was compiled by Precious and brought to you by The AnonymousNFT, supported by BCH Nigeria.`
Looking forward to supporting this project to enable more efficiency? Scan QR Code To Donate Bitcoin Cash, SmartBCH respectively;
`bitcoincash:qpkr8edewwukruxvjhq04w94aljd35d7mczrhu0qkd`
`0xCb5067E06D7FE39634b8fA1c539451b83282B403`
Alternatively, You can buy any of our NFTs on Oasis.cash
Click here to view the Anonymous NFT collection https://oasis.cash/collection/0x9EE8EA9E772f82b94Ee455CEf50D40f77e9E12C1
SmartBCH Weekly News - 12-03-2022
https://www.youtube.com/watch?v=rCu3JDi4wgE
Headlines
Bchpad announces SAAS (Staking As A Service) to the SmartBCH Network
Coinriot, Organizers of Coinparty lunches flipstarter campaign for Hacksmart
BCHdomain announces LNS, a naming service on SmartBCH
Tropical Finance launches Tropical Wonders - An NFT marketplace on SmartBCH
News In Detail
Bchpad.cash announces SAAS (Staking As A Service) to the SmartBCH Network
A SmartBCH project, BCHPad which serves as a launchpad on smartbch took to it's official twitter handle (@bchpad) on the 6th of March, 2022 to announce publicly it's introduction of SAAS (Staking as a service).
According to the video, token owners can now request to add a farm by messaging rhyker.
Learn more about SAAS https://t.me/bchpad
Coinriot, Organizers of Coinparty lunches flipstarter campaign for Hacksmart
On the 8th of March, 2022 Coinriot, known for organizing the coinparty hackathon in 2021 announced a flipstater campaign for Hacksmart.
According to the details the campaign, Coinriot requests a total of 425 BCH to fund Hacksmart - a 48 hour long hackathon that will introduce hundreds of blockchain developers to the power of SmartBCH.
Get more details at hacksmart.org https://hacksmart.org
BCHdomain announces LNS, a naming service on SmartBCH
LNS, a service just like ENS is for Ethereum was announced on Bitcoin cash on a read.cash account dubbed Kasumi.
According to Kasumi's article, LNS allows anyone to own and manage a .bch domain name, to have a simple way for users to send to a name rather than an address, and to enable applications which utilize some sort of naming system.
Read more of kasumi's detail about bch.domains https://read.cash/@kasumi/lns-bitcoin-cash-naming-service-db741f6a
Tropical Finance launches Tropical Wonders - An NFT marketplace on SmartBCH
SmartBCH is blessed with a new marketplace for non fungible tokens.
After an anticipation tweet by tropical finance on the 6th of March, a follow up AMA was hosted by the dev on the 11th after which, wonders.cash was made public. https://wonders.cash
`This news was compiled by Precious and brought to you by The AnonymousNFT, supported by BCH Nigeria.`
Looking forward to supporting this project? Scan QR Code To Donate Bitcoin Cash
`bitcoincash:qpkr8edewwukruxvjhq04w94aljd35d7mczrhu0qkd`
Alternatively, You can buy any of our NFTs on Oasis.cash
Click here to view the Anonymous NFT collection https://oasis.cash/collection/0x9EE8EA9E772f82b94Ee455CEf50D40f77e9E12C1
Stamp Chat Review: Everything you need to know.
Introduction - What is Stamp Chat?
**Stamp Chat** is an open-source messaging app that focuses on offering users privacy coupled with end-to-end encrypted messaging and also, attaches value to users attention. Decentralized as it is, **Stamp Chat** maintains user anonymity (does not require user's personal information during the process of creating an account) using a protocol called ***CashWeb***.
In my view, **Stamp chat** is also a wallet that allows you to send and receive encrypted messages. These messages are then decrypted in the wallet using a private key associated with a **Lotus** public address.
**Lotus - Add value to your Conversation**
According to the **Stamp Chat** White paper, In order to maintain secured communication, and anti-censorship, Lotus (XPI) was selected due to its roadmap being highly compatible with the requirements of the CashWeb project. https://www.stampchat.io/whitepaper.pdf
The **Lotus** roadmap stresses the importance of instant transactions accomplished on a global scale while building on the tokenized proof-of-work conceptualized by Satoshi Nakamoto.
Stamp Chat App Basics
Stamp Chat is free and is available on the web (accessible on mobile browsers and desktop browsers). There are also desktop versions for Mac, Linux and Windows, which can be downloaded on the official website https://www.stampchat.io/downloads
**How To Sign Up On Stamp Chat**
Signing up on Stamp Chat does not require any form of personal information from users due to the fact that it is structured towards protecting user privacy. So, in order to sign up from the web version or the desktop version, follow the simple steps below;
Tap/Click on the Login/Signup button on the left side of the interface, read the terms and click on agree if agreed to proceed
Tap/Click on "New Character", Stamp Chat automatically generates a secret name in form of a phrase. To find this check "Character's secret name"
Enter a Public Name then click on "proceed"
Stamp Chat automatically generates a Lotus wallet, Tap on "Get free Lotus" (1-5 Lotus is being rewarded to your lotus address from the lotus faucet ). https://faucet.lotuslounge.org/
Click on "Enter the Masquerade". I guess that's a slang on Stamp which means Login.
Note: In order to successfully login, Stamp Chat deducts a fee of 0.50 Lotus from your balance
Stamp Chat App Features
Stamp Chat currently is said to be in it's Beta stage and is subjected to rapid updates - thus it's features stated here might get outdated.
Stamp Chat as at the time of writing, features two layouts which houses the *dashboard* and the *feeds layout*.
On the **Dashboard's** which is located on the left, you'll find the following;
**Forum** - Functions like every other forum but with a unique ability of prioritizing feeds based on the amount of lotus attached to the feed.
**New Contact** - Allows you to add a new contact by via a lotus address.
**Contacts** - Displays your already added contacts
**Send Lotus** - Allows users to send Lotus on Stamp Chat
**Receive Lotus** - Allows users to receive lotus on Stamp Chat
**Profile** - Allows users to setup Bio, display name and profile picture
**Settings** - Allows users to toggle themes between Light mode and Dark mode, also, set-up contact refresh interval.
**Remote Wipe Wallet** - Allows users to clear all messages from the remove server and consolidate any funds associated with them back into your HD wallet
**Changelog** - Allows user to view changes attached to each updated version of Stamp Chat.
The **feeds layout** on the right allows user to view the feed of every activity done. For instant, While on chat with a contact, the conversation is being displayed on the feed section.
How To Start A Conversation On Stamp Chat
Starting a conversation on Stamp Chat is in no way different from other messaging platforms, the only outstanding feature is that in order to add a contact, a lotus address is required.
After adding a desired contact, tap on the contact you wish to start a conversation with and send a message.
Note: Each message sent by a sender deducts 0.50 Lotus from senders balance then rewarded to the receiver. In that way, value is attached for paying attention to the sender.
How To Send And Receive Lotus Using Stamp Chat
Stamp Chat can also serve as a lotus wallet for sending and receiving Lotus but then it is not recommended to store a huge sum of lotus in there. Follow the steps below to send and receive Lotus;
Tap on the dashboard on the left layout to reveal the send and receive option
To send, tap on send lotus.
Input receiver's lotus address and amount then, click on send
To receive, click on receive lotus.
Copy your Lotus address or scan the QR code to recieve
**Stamp Chat App Security and Privacy**
Using the CashWeb protocol, Stamp Chat ensures that users conversation is not readable by third party services by encrypting them using standards such as Advanced Encryption Standard (AES) and elliptic curve cryptography (ECC)
In addition to the strong default security, users must be able to upgrade their security using existing overlay networks (e.g. Tor).
Privacy On Bitcoin Cash With Cashfusion
**Bitcoin Cash** in its five years of existence after the fork which occurred in **August,2017** has beyond doubts performed tremendously although undervalued yet, stretching further to solving quest of *Privacy*.
The demand for 'privacy coins' in the blockchain technology - cryptocurrencies with the ability to shield transaction details from the reach of the public - is gradually gaining grounds as the industry expands. We could quickly mention privacy coins like Zcash, Litecoin, Monero which has experienced price surge allegedly attributed to its privacy property.
In November, 2019, a group of developers or developer introduced a privacy option for Bitcoin Cash called **CashFusion**. According to them, CashFusion is an implementation of CoinJoin - an effective idea of combining inputs and outputs from what would otherwise be separate transactions, into one jumbo transaction.- on the Bitcoin Cash protocol.
What Is CashFusion?
Decentralized as it may be, CashFusion is a privacy protocol that shields your spending details, making it difficult for chain-analysis companies to track your coins. In addition it also allows users to create multi-party transactions.
Using a CashFusion enabled wallet, it allows your wallet to communicate with other CashFusion integrated wallets by so doing, it participates in a form of transaction shuffle, sending outputs and receiving inputs alongside other various CashFusion participants. The transaction makes it impossible for chain-analysis to distinguish which input or output belongs to who.
The authencity of cashfusion has been tested following its audition by a cybersecurity company called Kudelski Security. According to the company, the risk of losing funds or having of stolen funds is zero as they did not find any evidence of malicious intent, flawed logic, or potential backdoor in the codebase.
Benefits Of CashFusion On Bitcoin Cash
After a successful launch of the project, the statistics of transaction being fused on Cashfusion has recorded 8,005,463 in BCH as at the time of writing. https://stats.sploit.cash/#/fusion
Privacy as it may sound is demanded by most, so talking about its effect on bitcoin cash, the blockchain through the innovation of CashFusion may experience a wider request for usage therefore, practically increasing its users.
Also, being able to shield transaction details from the public, huge business transactions trying to sideline the preying eyes of regulators and law-enforcement agencies might choose to adopt the process, therefore increasing adoption.
Getting Started With CashFusion
As simple as you can easily recite a poem, such is applicable to using CashFusion. All you need do is follow the steps below to perform your first fused transaction on Bitcoin Cash.
First and foremost, A wallet called Electron Cash will be required so, all you need is download and install the wallet. (supported on Windows, Linux, Osx)
Once installed, Do well to run the program. On the home interface, a cashfusion icon is located at lower right corner. Click on it to enable it. (To preserve privacy for all transactions, it is encouraged to leave your wallet open until all your coins have been fusioned.)
Once your coins are fully fusioned, Boom! you are ready to spend with privacy, whenever you like.
**Conclusion**
Bitcoin Cash has been often referred to as the real Bitcoin recently because it has embraced the original vision of Satoshi Nakamoto as a digital currency for peer-to-peer transaction and is rapidly adopted by both users and merchants over its fast transaction ability. Nevertheless, I can boldly state that Privacy on Bitcoin Cash will lead to massive growth within the immediate years to come.
It is usually expected of any investor to make personal research before investing into any asset. This article is not a financial Advise as you are liable to any result you get from your actions.
Kindly Subscribe and Tip for more Educative articles of this kind
How To Create A Bitcoin Cash Paper Wallet
Introduction
What if you've come across a Bitcoin Cash paper wallet or a friend sent you one as a give or perhaps it was given to you at a meeting as an appreciation for attending the meeting? How do you sweep the funds on the wallet to your own wallet?. This article is written to show you different ways on create and sweep a bitcoin cash paper wallet using different wallets. Let's Go!!
**What Is A Paper Wallet?**
Paper wallets just as the name implies are wallets printed on papers containing public and private keys which aids to easy retrieval of funds. These wallets in medieval days of Crypto Currencies were believed to be the safest way of storing digital assets because they were printed out and had nothing to do with the internet.
A Bitcoin Cash Paper Wallet stores bitcoin cash with a generated set of public and private keys in a printed and offline form. The public key in the paper wallet allows people including you transfer money into the wallet while the private key gives access to the fund spending.
**Advantages of A Paper Wallet**
Paper wallets were long considered as the safest way to store digital assets like Bitcoin Cash if properly set up and private keys kept private. That way it would be impossible for a Third-party to get access to your funds therefore keeping them safe from cyber-attacks, malware, etc.
Private Keys can be encrypted, this means that a third party might get an access to your private key but still needs to decrypt the keys with a password.
**Disadvantages of A Paper Wallet**
Since this wallets are being kept in paper forms, if not handled with proper care, you might end up loosing your private keys which will automatically lock you out of access to your funds. Major disadvantages of the paper wallets lies on user errors, for instance if printed with a substantial ink, the keys generated on them gets to fade away with time.
**How To Create A Bitcoin Cash Paper Wallet**
There are several ways of creating your own paper wallet maybe for the purpose for self storing your Bitcoin Cash or for gifting purposes, in this article we will discuss two ways of creating a Bitcoin cash paper wallet.
**How To Create Bitcoin Cash Paper Wallet Using Bitcoin.Com**
One of the most popular way of creating a Bitcoin Cash paper wallet in recent days is via Bitcoin.com Bitcoin.com makes it really easy for anyone, anywhere to create a Bitcoin Cash paper wallet within few minutes. The steps below will guide on on how to create a Bitcoin Cash paper wallet using bitcoin.com
**Step 1** : Using your browser, visit https://paperwallet.bitcoin.com
**Step 2** : Move your mouse in random directions until the measurement gets to 100%. It you are using a Mobile Phone or you don't have a mouse connected to your computer, locate the textbox and type in random characters until the measurement gets to 100%.
**Step 3** : Choose a design from the options of design given by bitcoin.com
**Step 4** : Customize your Bitcoin Cash paper wallet, there you can choose a custom amount to be stored in the Wallet and the number of addresses you wish to generate on the paper.
**Step 5** : Tap on Advanced settings to encrypt your Paper Wallet with a Passphrase, this Passphrase acts like a password to access funds on the wallet.
**Step 6** : Print your Paper Wallet.
**Note that** it is adviseble to turn off your data connection when you are about to print. The reason is that some printers might save some data while printing and malwares can be sent to such printers by hackers to fetch your data.
**How To Add Funds To Bitcoin CashPaper Wallet**
After creating a paper wallet, at it's initial state, the wallet is empty and you will need to add money to your paper wallet.
To add money to your paper wallet, simply scan the public address on the paper wallet or send the funds to the address on that section of the paper.
**How To Sweep Bitcoin Cash paper wallet**
To Sweep your Bitcoin Cash paper wallet, you will need to follow the steps below;
Download and install Bitcoin.com wallet if you don't have one, if you do, open your wallet.
Click on the Settings button on the right lower corner of your wallet.
Tap on 'Sweep Paper Wallet' to sweep your funds into your mobile wallet address.
Bitcoincash Merchant Adoption Guide
How To Approach and Onboard A Merchant To Bitcoin Cash
Are you wandering how possible it is to approach a merchant and processes it takes to onboard a merchant to Bitcoin Cash? It might not be an easy task as it seems to be especially when it has to do with convincing someone to adopt something he/has no or less idea about.
Let's be realistic, how easy is it for you to approach one you've never known before to discuss what he or she has never heard before?
Bitcoin Cash might be a very cool and nice Innovation to liberate the Universe from money limitations (especially in a centralized world) where money is governed by the financial institutions. But, can you boldly tell someone that Bitcoin is Cash and not a store of value as applied from the Satoshi's Whitepaper for Bitcoin without getting slammed or rejected by the audience?
There are lot of challenges you might face out there if you must approach and onboard a merchant to bitcoin Cash . You would get more of it, if you are Onboarding in countries where you have diverse local languages. For Instance, In Nigeria there are 3 major languages, Yoruba, Hausa and IGBO and one we call the Nigerian English, (Pigin) and you must be able to break this barriers
Onboarding is challenging so one must be ready for the task before embarking on the process. In the article, I'll be writing extensively on how to approach a Merchant and the onboarding processes you need to follow. Before I proceed, here are some things you need to know first.
What You Need To Know Before Embarking On The Onboarding Process
**You need to be conversant in Explaining What Bitcoin Cash is.**
Onboarding a Merchant to Bitcoin Cash means convincing a business to accept Bitcoin Cash as means of payment. So you need to know what Bitcoin Cash is and must be conversant in explaining it to others (Merchants).
**You must be able to Guide one on how to download a Bitcoin Cash wallet and how to make use of it to send and receive payments**
On your own, practice how to download and install a Wallet and the processes in making use of it. One of the important process you must know is how to backup a wallet.
**You Need To Know the easiest way to access liquidation in the Region of Onboarding**.
Merchants would always want to convert Bitcoin Cash to fiat in order to stock up their shops and also to pay their staffs. So, you need to be conversant with an available platform that offers liquidity within the region of the Merchant.
How To Approach A Merchant
Approaching a merchant may be easier depending on your manner of approach, time of approach and interaction skills. To get the best out of it, you need to put all of that to consideration.
**Manner of Approach**
Respect and Appearance are significant when talking about manner of Approach. You must learn to be respectful while approaching a merchant and also, learn to dress in a very moderate and responsible way.
Once you spot a Merchant you would love to Onboard, walk up to him/her and ensure you first greet and excuse some of his/her time in a polite manner. By so doing, you can earn the merchants attention for some while.
**Time of Approach**
Try to find out when a merchant usually attends to a lesser customer or have no customer at all, that's the best time to approach because you may likely get his/her full attention then.
**Interaction Skills.**
Once you Successfully gain the attention of a merchant, get straight to the point. First find out if he/she is the sole owner of the business, demand to meet the owner if he/she is not.
`I want to let you know that Bitcoin Cash is seeking for Merchants like you who can trade in exchange for Bitcoin Cash.`
`Bitcoin Cash is a digital form of money, decentralized, more secured and can be transacted faster than the usual physical cash with no or less charges.`
`All you need to do is Download a bitcoin Cash wallet (bitcoin.com wallet is most preferred).`
Give an audience to the merchant because he/she might also want to air out some opinions or questions.
These are some possible questions you should be expecting;
How long as Bitcoin Cash been in existence and hope it's not a Scam?
How does it work?
If I begin accepting payments in Bitcoin Cash, how do I get it to physical cash?
If a merchant asks any of these questions, it is a sign that he/she is kind of interested and needs to be clearified in this questions.
Your ability to respond to this questions convincingly might earn you the Merchant.
If the Response gotten from this Merchant is, "No, I'm not interested." Simply opt out, appreciating for his/her time and head to the next Merchant.
If the Response gotten is Yes, then you can proceed to the onboarding processes.
Processes For Onboarding A Merchant To Bitcoin Cash
**Download and Install a Bitcoin Wallet**
You will not have to do this your self but guide the Merchant on how to do it so he/she can be able to that without you being present. For now the most recommended Bitcoin Cash wallet for Merchant Adoption is the Bitcoin.com wallet. https://wallet.bitcoin.com/
Direct the Merchant to Playstore for Android or Apple store for iOS, then search for bitcoin.com wallet. Once downloaded and installed, ensure that you direct the merchant on how to backup the wallet immediately before you proceed to any other thing. https://read.cash/@BitcoinCash247/how-to-secure-your-bitcoincom-wallet-9c6b2ca2
**Show The Merchant How To Send And Recieve Payments on the Wallet**
Merchants interact with different Customers every day, so he/she must be conversant in using the wallet to recieve and send money. https://read.cash/@BitcoinCash247/how-to-send-bitcoin-cash-via-sms-mail-third-party-apps-f0b42e55
**Show The Merchant How To Convert Earned Bitcoin Cash to Local Currency**
Direct the Merchant to the best liquidity option available in your location, the most recommended liquidity option is local.bitcoin.com. you can use this article as a reference. https://read.cash/@BitcoinCash247/how-to-use-localbitcoincom-to-buy-and-sell-bitcoin-cash-e27cfe00
**Additionally, Create A Sticker Including the Merchants QR Code displaying, "Bitcoin Cash Accepted Here".**
Once all of this is done, you have Successfully onboarded the Merchant to Accepting Bitcoin Cash.
**EXTRAS**
There's is need for you to create a community where you can have the merchants discuss their challenges and also to aid you give them guidance and more coaching.
6 Decentralized Exchanges To Buy/Swap Sep-20 Tokens
New to SmartBCH? Relatively you may not be a newbie to the crypto-sphere because you must have traded Bitcoin Cash, Bitcoin or Ethereum in other exchanges. Exchanges like Binance, Coinbase, Coinflex are some of the successful centralized exchanges in existence but these exchanges requires some level of KYC verification from it's users and that makes it centralized.
SmartBCH is a baby project on the Bitcoin cash blockchain but so far brags of more decentralized exchanges that every other chains.
**What is a Decentralized Exchange?**
Decentralized exchanges (nicknamed as DEX) are one of the key building blocks of the decentralized finance (DeFi) ecosystem. A DEX is a platform where users can trade cryptocurrency directly with each other, trustless without KYC verifications . A traditional centralized exchange like Coinflex, for example, acts as a custodian on your behalf, with any trading taking place on coinflex’s database, rather than directly on the blockchain itself.
In this article, we’ll be checking some of the best decentralized token swap platforms out there on smartBCH. Some of the platforms we’ll be featuring aggregate multiple DEXes to give users the best rates that are available on the market.
6 Decentralized Exchanges To Buy/Swap Sep-20 Tokens
Benswap.cash | Audit: Certik.
Benswap.cash happens to be the first decentralized exchange in the smartBCH ecosystem. There are several features integrated on benswap's exchange to enable users have the best experience some of its features includes: https://benswap.cash
Yield Farming
Staking
AMM
Analytics
ChartPro
Lottery
Fundraising Module: IBO (Initial Ben Offerings)
API
Token Locker Module: BenLock
SEP-20 Token Factory
SEP-20 Factory Template: Basic
SEP-20 Factory Template: Liquidity Generator
Ranches
SmartBCH LP Finder
Benswap owns a utility and governance token called EBEN, Users need EBEN to use the features on BenSwap (SmartBCH).
MistSwap.cash | Audit: 0xGuard & Certik
Mistswap is a decentralized exchange forked from sushiswap to smartBCH which offers a suite of tools to help enhance easy utility of sep-20 tokens. https://mistswap.cash
Mistswap offers features such as;
Yield Farming
Staking
Mist Lake
Cowswap.cash | Audit: Techrate | Formerly Muesli.cash
Another decentralized exchange on smartBCH is the cowswap which was previously known as muesli.cash. https://cowswap.cash
Tangoswap.cash | Audit: 0xGuard
Launched on Nov 23, 2021 by Ian Blas (BCH Argentina) and Fernando Peliccioni (Knuth Node), Tangoswap is The first non-anonymous DEX on smartBCH. https://tangoswap.cash
**It** offers a DEX Aggregator which allows users to swap tokens at the best of it's fees focusing on gaining highest marketshare and providing best rewards to liquidity providers.
**Tangoswap** features the following;
DEX Aggregator
Exchange
Yield Farming
Staking
1bch.com | Audit: InterFi
Just Like every other decentralized exchange on smartBCH, IBCH allows users to participate in token swaps, staking, farming and every other feature on its platform without need for a KYC. https://1BCH.com
1BCH has been doxed privately by BCHPad - A SmartBCH launch pad, and was launched on the 30th of November, 2021.
Tropical.finance | Audit: Techrate
**Tropical Finance** is a state of the art yield farming application and Dex on SmartBCH Chain with unique features which offers its investors brand new ways to maximize APRs. https://tropical.finance
Tropical Finance aims to provide high APRs with the least risks and strives to become one of the most stable and reliable platforms in SmartBCH Network by offering multiple features and ways that support yield increasing and solve liquidity problems.
**Disclaimer**
Before investing, it is required that proper self research on projects is made in other to avoid crisis. Always DYOR.
How To Own An NFT On SmartBCH
You want to own an NFT on SmartBCH But Don't Know How? Read This..
NFT's Here and NFT's There, If you haven't heard of or seen an nft then I guess you must be from the medieval , Just kidding though.
NFTs and The Metaverse have been a trending topic in the new age crypto sphere, with thousands of top notch artists and companies rushing in with super collections. Of What Use are these non fungible tokens? Before we could get an answer to this, *What is an NFT*? and *What Is SmartBCH*?
**What Is An NFT?**
In a simple term, an NFT is an abbreviation which means Non-Fungible Tokens.
I'll use this scenario to make this clearer;
***Mr. A*** owns a piece of ***Bitcoin*** and *trades* it for another, ***Ow! he just traded Bitcoin For Bitcoin*** and that makes it **fungible** but if he had a **non-fungible** token, For instance a *gift card*, or a *discount card*, a *ticket*, he could trade it for a toy, a discounted meal or an access to a homecoming party respectively. Now, after trading them, Mr A discovers he got something different.
Wikipedia would rather define it this way, A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. Types of NFT data units may be associated with digital files such as photos, videos, and audio. https://en.wikipedia.org/wiki/Non-fungible_token
**Use Cases Of NFTs**
NFT use cases are still in their infancy, but it is clear that not only gamers will benefit from this, but also regular people who are going about their daily lives. Not only will this provide ease of use for many services, but it will also increase transparency on many transactions, especially when it comes to ownership of physical properties such as artworks, real estate, a concept or idea, and the like.
**What Is SmartBCH?**
In my previous article, I made an easy definition to what SmartBCH is but, here's brief; **SmartBCH** is a sidechain nicknamed Sep-20 for Bitcoin Cash and has an aim to explore new ideas and unlock novel possibilities. https://read.cash/@BitcoinCash247/5-smartbch-gems-to-watch-out-for-in-2022-011c5940#what-is-smartbch
How To Own An NFT On SmartBCH
It's easier and cheaper to own an nft on the smartbch chain than any other blockchain in the crypto sphere but, as a newbie in order to make transactions on the chain, you need a EVM compatible wallet such as **Metamask**.
`Download and Install A Metamask Wallet`
The essence of the wallet is to enable you integrate the smartbch network in which all transactions will be made and recorded.
`Proceed To Adding The SmartBCH Network`
**The video below will guide you through that process;**
https://youtu.be/QnJemL6ASV8
There are several ways to own an NFT on smartBCH and otherwise, you can either buy it, earn it ,or mint your own.
**How To Buy**
Oasis.cash is the largest decentralized NFT marketplace in smartbch for now, majority of NFTs on the ecosystem are hosted there for auction or fixed sales. A quick comparison of what oasis is all about is opensea.io which is the largest decentralized nft marketplace on the ethereum blockchain. https://oasis.cash https://opensea.io
**Note:** **To get the best user experience, a smartphone or laptop is recommended.**
Visit Oasis's homepage and allow access to your metamask wallet, explore the different collections on the marketplace and make a choice based on your budget, make payment and ownership of the non-fungible token will be transferred to you.
Ba.net is a multichain marketplace that supports smartbch nft collection and minting. You can also buy from their various collections. https://ba.net
**How To Earn**
Engaging in giveaways and claiming faucets could earn you an nft for free. Recently the Anonymous NFT offered five persons a chance to earn an art from the collection for free. Join the Oasis Telegram group and SmartBCH tokens and nfts channel to catch an opportunity. https://t.me/anonymousnftseries https://t.me/OasisCash https://t.me/smartbch_token_exchange
Are you an Artist looking forward to launching and owning a collection of NFT on the smartBCH chain? Perhaps an entrepreneur who’s heard about the NFT craze, and who wants to join the industry? Whatever the case might be, then you are very much welcome.
**DISCLAIMER**
Participating on decentralized financing requires more self researches here, the term DYOR comes in. Good Luck.
5 SmartBCH Gems To Watch Out For In 2022
Transactions on the Bitcoin cash sidechain, **SmartBCH** is exploding and new projects keeps popping into the ecosystem making it one of the fastest growing ecosystem in the crypto-sphere.
Being one of the best alternatives to *Ethereum* when it comes to decentralized financing, lots of developers have found *smartBCH* fit to host their projects due to its inexpensiveness in deploying transactions and also, it's speed.
As a baby project, the ecosystem offers a lot of investment opportunities but, before I move into listing the 5 Gems you should watch out for, let's quickly remind ourselves what smartBCH is for the sake of new readers.
What Is SmartBCH?
According to the *SmartBCH* whitepaper, *smartBCH* is a sidechain nicknamed Sep-20 for Bitcoin Cash and has an aim to explore new ideas and unlock novel possibilities. A sidechain is a blockchain designed for fast and inexpensive transactions with a special relationship with the main chain because of a two-way peg; in this case between Bitcoin Cash and *smartBCH*.
An easy illustration of what *smartBCH* can do could be derived from the functions of ethereum on dApps and smart contracts. Being EVM & Web3 compatible, developers can use the *smartBCH* source code to develop games, smart contracts, decentralized applications and every other thing possible on the ethereum blockchain but in this case, cheaper and faster.
5 SmartBCH Gems To Watch Out For
1. Green Ben - EBEN
**Green Ben** is a multi-functional decentralized exchange (DEX) that exists in the SmartBCH chain and in the Binance smart chain. It is said to be the first decentralized exchange in the smartBCH ecosystem. https://benswap.cash/
Lets take a look at *EBEN*'s statistics;
Market Cap - $6,904,670 (As at the time of writing)
Total EBEN Tokens Minted - 16,620,351
Total Burned - 822,154 (As at the time of writing)
Circulating Supply - 15,798,197
The staking functionality of *EBEN* finalizes how beautiful a gem *Green Ben* is as it enables it holders stake *EBEN* and earn a whooping 41% APR.
This is a good buying opportunity. The project is foundationally very strong.
2. BCHPad - BPAD
**BCHPad** serves as a decentralized launchpad in SmartBCH - This is one of the launchpads were projects could easily be launched on smartbch. https://www.bchpad.cash/
For every project launched, *BCHPad* reward holders who hold above 20,000 pieces of BPAD with airdrop or the launched project.
Market Cap - $503,474 (As at the time of writing)
Total Burned - 30,000,000 (As at the time of writing)
Circulating Supply - 50,000,000
3. GoCrypto - GOC
**GoCrypto** is a real utility commerce token with the aim to facilitate crypto payments making it easy for merchants to accept crypto payments in their local and online store. https://gocrypto.com/en/
The *GoCrypto Token (GOC)* is a multi-chain utility token issued on the Bitcoin Cash (SLP) blockchain, Smart Bitcoin Cash (smartBCH) chain, and the Binance Smart Chain (BSC), with Solana (SOL) soon to follow.
Lets take a look at GOC's statistics;
Market Cap - $16,461,639 (As at the time of writing)
Circulating Supply - 299,095,759.
4. Celery - CLY
According the the whitepaper compiled by **Celery**, it is the first blockchain annuity serving as a financial instrument that pays out a series of payments over a span of time back to the owner. https://celery.cash/whitepaper.pdf
Market Cap - $3,587,500 (As at the time of writing)
Circulating Supply - 5,844,117,494.
5. FLEX Coin - FLEX
**CoinFLEX** provides Crypto Yield and is committed to providing institutions and retail investors an easily accessible platform to earn and trade crypto. FLEX coin becomes the native token powering the *CoinFLEX* exchange and is the foundation of the CoinFLEX ecosystem.
**FLEX Coin** is utilized across all of *coinflex's* products, provideing all users exclusive benefits which makes trading on *CoinFLEX* much better.
How To Deposit (Bridge) BCH to SmartBCH
Searching for possible ways to swap your Bitcoin cash over to smartBCH? This could be made possible through the utility of *bridges* that support the process.
The are several platforms that that supports the BCH - SmartBCH bridge which will be listed in this article and the most effective ones will be explained in details on how to make use of.
Prompt.cash
Hop.cash
Coinflex.com
Bridging in this context is a process whereby a coin or token could be converted from one network (chain) to another. Therefore bridging Bitcoin Cash to smartBCH is simply the process of converting the native Bitcoin Cash to SmartBCH (Sep-20) which is a side chain.
Why Bridge?
In a case where a Bitcoin cash user wants to participate in projects on the smartBCH ecosystem via DeFi, it is necessary that such user bridges the assigned amount he/she wishes to invest over the smartBCH network before depositing to his/her BCH (SmartBCH) address to avoid loosing assets.
For instance, One can only deposit BCH Sep-20 to a BCH Sep-20 address. Depositing BCH on its native network to BCH sep-20 will result in lost of asset.
How To Bridge Bitcoin Cash Using Prompt.cash
Prompt.cash happens to be one of the fastest and reliable way to bridge Bitcoin Cash from its native network to smartBCH (Sep-20) and takes few minutes to receive sent asset over the other end of the bridge but, you can only use prompt.cash to Bridge over to smartBCH (Sep-20) and can't bridge back to the native BCH.
To bridge BCH to smartBCH, simply follow the steps below;
(Note: This process is more effective using a wallet)
Visit Prompt.cash https://prompt.cash/bridge
Input the amount of BCH you wish to bridge over to smartBCH
Provide SmartBCH address you wish to bridge to and click on "exchange BCH".
A QR code will be automatically generated, pegged to the stipulated amount of BCH
Scan the QR code using the wallet you wish to send from then send.
Immediately afterwards, Promt.cash's interface will change to a window showing your transaction process.
Advantage and Disadvantage of Bridging Over Prompt.cash
Bridging over prompt.cash does not require any form of registration or KYC verification and processes transactions within a short time.
It's only flaw is that it can not bridge back smartBCH to the native Bitcoin cash network.
How To Bridge Bitcoin Cash Using Hop.cash
Hop.cash is designed to enable the two way bridging of Bitcoin Cash. In it's case, users can bridge from the native Bitcoin cash network to smartBCH (Sep-20) and otherwise.
In order to make use of hop.cash, it requires a smartBCH setup on any Evm supported wallet (Example: Metamask). That is because you'll need to connect hop.cash to a smartBCH network before performing a bridge.
*The video below will assist you in setting up smartBCH on your metamask wallet.*
Visit https://hop.cash
Connect hop.cash to your smartBCH network
After successful connection, options to bridge between BCH to SmartBCH and SmartBCH to BCH will be displayed
Make choice as suitable to you
***Please pay attention carefully to this***. For BCH - SmartBCH, two addresses will be displayed to make deposit, a **cash address** and a **legacy address** ensure that you do not send from a legacy address to cash address or from cash address to legacy address. https://read.cash/@BitcoinCash247/difference-between-bch-legacy-address-and-cashaddr-f7d595ba
Read Also: Difference Between BCH Legacy Address and CashAddr https://read.cash/@BitcoinCash247/difference-between-bch-legacy-address-and-cashaddr-f7d595ba
After sending, Hop.cash automatically transfers BCH to SmartBCH. (For best bridge experience, a wallet is preferred)
How To Bridge Bitcoin Cash Using Coinflex
Coinflex is one of the few exchanges that recognizes smartBCH and has also made it possible for its users to bridge BCH to smartBCH and fro after a sign up process via metamask and versa.
To bridge Bitcoin cash using coinflex, follow the steps below;
Login to your coinflex account
On the dashboard, go-to wallet & order and click on deposit to deposit BCH over the native chain (Legacy or CashAddr.
Once deposit is confirmed, go-to wallet & order and click on withdraw, select "Sep20"
Input your desired smartBCH address, amount to withdraw and click submit.
**N/B** Coinflex.com is a centralized exchange.
Hopefully, with careful attention to this few methods, even a newbie on smartBCH should be able to deposit (bridge) Bitcoin cash to smartBCH and vice versa.
Kindly give a thumb up if you've found this article educative.
Explore SmartBCH (Sep-20)
Introduction To Explore Smartbch - The Book
It's been an exciting journey so far as a member in the **Bitcoin cash community** and everyday I've always thought of what to do perhaps to impact every members positively. Now, here's me writing a book ; not just a book, a book based on the purpose of educating everybody about cryptocurrency and not just any cryptocurrency but **Bitcoincash**.
Let's travel back in time to the creation of Bitcoin cash, as an electronic money for peer-to-peer digital transactions envisioned to redeem the world and it's economy from the hands of selfish and centralized governance just as stated in Satoshi's whitepaper for Bitcoin published in 2008. For the manifestation of mass utility and adoption of Bitcoin cash, projects like smartBCH was birthed.
Fostering easy navigation for full utility of the smartBCH project is the major aim of **Explore SmartBCH,** also for the purpose of enlightening the entire bitcoin cash communities across the globe on how to take part in such an amazing revolution of money.
Introduction
Brief History
From inception, a group of Bitcoin cash enthusiasts gathered to develop on the open-sourced nature of the Bitcoin cash Blockchain to nurture and develop a sidechain for Bitcoin cash that will enable users to create decentralized apps and perform other activities as possible on the Ethereum Blockchain.
A flipstarter campaign was then created in March, 2021 to raise 1000 BCH to accomplishment of the first step through the project. http://flipstarter.smartbch.org/
**What is SmartBCH?**
According to the SmartBCH whitepaper, smartBCH is a sidechain nicknamed **Sep-20** for Bitcoin Cash and has an aim to explore new ideas and unlock novel possibilities. A sidechain is a blockchain designed for fast and inexpensive transactions with a special relationship with the main chain because of a two-way peg; in this case between Bitcoin Cash and smartBCH.
An easy illustration of what smartBCH can do could be derived from the functions of ethereum on dApps and smart contracts. Being EVM & Web3 compatible, developers can use the smartBCH source code to develop games, smart contracts, decentralized applications and every other thing possible on the ethereum blockchain.
**Why smartBCH?**
What difference is smartBCH offering? Why should anyone prefer smartBCH to Ethereum or any other existing project in the Blockchain ecosystem?
Here's why;
SmartBCH maximizes on the Bitcoin cash blockchain which offers a fast, secured, way of transacting electronic cash in a peer-peer system with low processing fees, to create utility beyond just being a payment service provider.
The idea behind smartBCH can be related to Vitalik's idea behind the creation of Ethereum, to enable developers leverage on Bitcoin cash's features to create real-world applications through smart contracts.
How;
SmartBCH is compatible with Ethereum's EVM and Web3 API and provides high throughput for DApps in a **fast**, **secure**, and **decentralized** manner.
For the end users, this will enable you make transactions faster with the cheapest fee offer in the entire crypto space.
Why Explore SmartBCH - The Book
In as much as smartBCH is a gateway to access diverse utility on the Bitcoin cash blockchain, creating awareness of it's possibilities could help it grow faster in terms of persons exploring it and otherwise.
The book "Explore smartBCH" will serve as a resource book which will guide especially newbies through the intensive utility of the smartBCH projects and even how to build on smartBCH.
It could also serve a purpose of gifts at meetup events, passbooks in communities across the Bitcoin cash ecosystem.
Explore smartBCH is a bch.ng project written by Precious Effiang and edited by the bch.ng editorial.
**Launch Date - Will Be Communicated Shortly**
Crypto Acronyms, Slangs and their meanings
Just as time and event evolves, some things go extinct and some emerges. The history of cryptocurrency and the Blockchain technology witness changes too. Some of these changes have given birth to new slangs, sectors of operations (DeFi, Play-to-Earn, Metaverse), and lots more.
If you are just getting involved in crypto-currencies or an already existed crypto currency user, you must have seen some words being spelt in a funny way or some abbreviations used across the ecosystem. At first I thought they were being misspelt until I realized there were just acronyms (slangs) being used to represent either a price action , an event, a season or a personality involved in cryptocurrency.
In this article, I'll be listing and briefly explaining some crypto acronyms. I bet you wouldn't want to stop reading halfway. Scroll down let's explore 🙂.
Crypto Acronyms and their meanings
**FOMO - Fear over missing out**
This acronym is usually associated with a bullish trend where an individual discovers he/she isn't in possession of the trending asset (cryptocurrency). In most cases especially the newbie case, the individual swing trades to the trending asset.
**FUD - Fear, Uncertainty and Doubt**
When there's doubt and uncertainty either in a price action or in a leadership, such is tagged FUD. This in most cases is not usually a good sign especially when the community gets influenced by it.
**Whale**
In the cryptocurrency ecosystem, one is said to be a whale if he is in possession of a large percentage of the total supply of the particular cryptocurrency. For example; Elon Musk being a doge coin whale.
**DYOR - Do Your Own Research**
The crypto-sphere sometimes is filled with speculations and uncertainty, real projects and fake projects. In such situations it is advised that every persons involved makes research about whatever project he/she wants to invest in.
**HODL - Hold**
In a normal term, one might suggest that, that is a spelling error whereas in relation to the crypto-sphere, it isn't an error but an acronym that means holding tight to a crypto asset without selling.
**De-Fi - Decentralized Finance**
A blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum.
**ICO - Initial Coin Offering**
This term is usually used when a cryptocurrency industry is offering a form of presale initial to the launch of the project itself. In most cases, this is a strategy to raise funds to back up the development of the project involved.
**ATH - All Time High**
This is a price action where the price hits the highest position it's ever been.
**ATL - All Time Low**
The lowest price a crypto asset has ever been.
**BULLS**
This are crypto investors that believes in HODLing and buying more. The bulls create a bullish trend in a crypto market.
**BEARS**
In an opposite scenery, the bears are those who sell off their crypto assets and probably spread FUD in a crypto market.
**ALTs - Altcoins**
These are Bitcoin alternatives, In order words, coins that are not Bitcoin is called an altcoin for example; Ethereum, Bitcoin Cash, eCash.
**Rekt - Recked**
“Rekt” spelt to represent Recked means to sell the crypto too soon or too late without bagging a profit. Most times this usually occurs due to spread of FUD.
**To The Moon**
This phrase is usually used when a bullish price action is expected from a current crypto price chart.
**Shitcoin**
This is a type of crypto currency that has no utility and usually cheap to afford. In most cases, it is considered as a bad investment due to its lack of utility and long term worth.
**Shill**
A marketing strategy in crypto usually employed by crypto communities to win more members to itself. In real sense this, most times does not bring in real investors to the community.
I'll hang out here, leaving with you those few slangs and acronyms to digest if you are a newbie. There are more to this but I'll leave the comment box for you to include which ever of them that is not listed here.
Wait! Don't forget to hit the like button 🙂.
How to identify a scam crypto project
Opportunities on the blockchain are decentralized making it an open basket for both the bad eggs and the good ones. The blockchain dating back to 1991 when the first cryptographically secured chain of blocks were described by Stuart Haber and W Scott Stornetta continued on its phase of development until 2009.
In 2009, a group of or anonymous programmer dubbed **satoshi nakomoto** was able to implement the blockchain as a means of public ledger for peer-to-peer transactions. The usage of cryptocurrencies has gradually grown and without proper guidance or knowledge, so many persons will continue to fall as prey into the hands of scammers due to its decentralized nature.
I actually came to the knowledge of cryptocurrencies during the covid-19 lockdown on my usual quest on the internet, I spent the rest of the year acquiring more knowledge on how it works until the last quarter of that year where I made my first cryptocurrency investment. Those things I learnt actually helped me going down the process in which I'll be sharing with you as you read down.
Roadmap
If you are new to this then, I'll have to define what a roadmap is. So, **What is a Roadmap?**
**A Roadmap** is simply an Pop of plans in a sequence. It can also be seen as a strategic plan that defines a goal and measures to fulfilling the set target. It has come to be that any successful company has a roadmap, this explains where they are headed and everyone stays on track.
How does this assist in spotting a scam project? Going through some crypto projects, I've noticed that the details of the roadmap is poor and some does not even have a roadmap. Such projects with no roadmap or poorly written roadmap tends to be risky for investments and a such should be observed carefully.
Developer Team
Another important thing to make research on or watch out for is the developer team. In most scam projects, they tend not to reveal details of the developers making it difficult to associate the project to a person. In other cases, some faces of supposed team are being shown on the website without a link to their profile.
Although, for the sake of anonymity some good projects abstain from this practice of the doxing their developers but, one needs to be very careful when it comes to such projects.
Use Case
Now, this is another major thing to watch out for while scouting for a good crypto project to invest in. The use case is one thing that could determine the future value of a project and drive in investors.
In today's world, cryptocurrencies have diversified from the old model of just an electronic money for peer-to-peer transactions into gaming, memes, metaverse, decentralized finance and a lot more. Depending on which category a crypto project falls in, the use case determines its future potential.
Community
How is the social community of the project you are about investing? Ensure to be a part of the social community, there you will be able to monitor the activities of the rest of the members, Check out those managing the community if it corresponds with those you found on the projects website.
Network
This last one needs to be treated as a very important measure before jumping in to any cryptocurrency project. Why?
The reason is some scammers are very tricky to the extent of recreating existing good projects with the aim of absorbing and misleading investors into investing in them. In order not to fall a victim of circumstance, ensure that you carefully observe which **Network** the project is built on and the *contract* governing the project.
Every crypto project is assigned to a contract address depending on the network. When I make mention of network, what I mean is the binance smartchain network, polygon network, solana network, smartbch network and so on.
For almost every crypto project (tokens) there is usually a clone project to mislead investors and in order not to fall as prey, you'll need to watch closely to the network's contract address assigned to the project.
Conclusion
Due to the decentralized nature of the blockchain, one is liable to the effect of every risk taken because in most cases transactions can not be reverted or traced to a person. From personal experiences, I have written this article, "How to identify scam crypto projects" to guide you so, if possible mistakes don't repeat and risk are being controlled..
If you have found this article educating, do not forget to share and give a thumbs up.
The Entrepreneurs We Make - BCHNG Event Overview
Some months back, a proposal was sent to BCH.NG to host an entrepreneurial event tagged '*The Entrepreneurs We Make*'. After the BCH.NG flipstarter got funded, the event was approved by the admin of the community Idris.
**The Entrepreneurs We Make**, is a skill acquisition event that is targeted at discovering creatives, and training them to become entrepreneurs. That way we groom our own merchants and onboard them easily to **bitcoin cash**. On it's first phase hosted on the 18th of September,2021, we focused on four productive skills which includes;
Mobile Photography
Graphic Designing
Animation
Barbing &
Modeling
**Expenditure for The Event**
Before the event, I recieved 0.3 BCH from the sponsor, BCH.NG which I carefully made use of, to plan and run the event.
Renting
Renting (venue, 1 projector, tv, sound technician)- $112
Printings (Flyers, Forms, BCH T-shirts, Flex) - 0.098 BCH (paid in Bitcoin Cash)
Miscellaneous (BCH Giveaways, Hand sanitizers-patronized an entrepreneur we just onboarded, **Harmo Home Essentials**)
Tutors (Employed the services of professionals in each skill category; graphic designing, animation, ).
Photo Speak
**Conclusion**
The event went successful with an attendance of 41 participants registered across the categories, although we had 97 persons fill the forms we distributed. We were able to get record of participants which will be used to further train them on the next phase of the event which will be held online.
The Best Tool Against Government Corruption is Crypto - Kim
Crypto Currency; The Best Tool Against Government Corruption
From the inception of the idea of *crypto-currencies*, most government have been making efforts to clamp down the innovation but, to no avail. For centuries, the government have been printing money into circulation endlessly, making it an avenue to fund their corrupt plans, they've always limited power to their control (they can do and undo).
**Crypto-currency** came as Liberty, liberating the people (us), from the government and redeeming *****money & power***** to the people (Decentralization). According Satoshi's whitepaper for Bitcoin, quoted from the abstract, A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another **without going through a financial institution**.
Earlier today, I was scrolling through my tweets as usual, then I came across a tweet from Kim Dotcom, @Kimdotcom, CEO of monetization platform K.im. He tweeted;
Your best tool against government corruption is CRYPTO. Stop using fiat, the endless printing of money to finance their corrupt schemes.
NEVER use government issued crypto, Make the world a better place by shifting power to the people. Only Buy from vendors that accept crypto.
How Is Cryptocurrency The Best Tool Against Government Corruption?
Crypto-currencies have offered the people ***decentralization***, ***privacy*** and ***free access to money*** so, how can this be a tool fighting against the government's corruption?
Looking critically, the only thing that has given the Government so much power is money, and the they have the ability to create money as much as they want. The continuous creation of money in an unlimited manner has caused inflation in the system of economy making things more expensive. This will even get worst if crypto currencies are not embraced globally.
Interestingly, Bitcoin, the mother-chain of crypto currencies has set a pace for decentralization - transfer of control to the public, this means that everyone is owns entitlement of their money on the chain.
With all of this opportunities, we all need to dedicate efforts in ensuring that the idea of crypto currency is being spread via crypto currency enlightenment and adoption, across the globe starting from your home.
Through enlightenment, merchants can be raised; a means where crypto users can spend crypto currencies across the chain without passing through a financial system. We should also practice to patronize crypto currency merchants within our regions, a continuous practice of patronizing merchants will earn more merchants that will accept crypto transactions voluntarily.
Crypto-currencies have limited supplies, meaning that, instead of experiencing the decline of purchasing power while spending fiat, much more valued will be added to money spent as crypto.
The Banks being a third-party to fiat transactions is controlled by centralization, they own control of your money and monitors how you spend your it. They also have an access to your identity, these are reasons why you need to patronize crypto vendors.
If there is any way to restore power via money to the people, it is spending crypto instead of fiat. Don't just spend crypto but ensure you are not using a Government owned crypto, lets all, in unity fight against centralization via educating everyone we come across, about utility driven crypto currencies such as Bitcoin Cash, Ethereum, Litecoin etc.
Could this be the reason for their donations to the BCHNG flipstarter campaign
Introduction - BCH Flipstarter and It's Aims
It feels great writing this,
A couple of days ago, on the 6th of August,2021 precisely, a group of Bitcoin Cash enthusiasts in the Western region of Africa dubbed **Bitcoin Cash Nigeria** *(BCHNG)* which i happen to be a member flagged off a major campaign in it's history on Flipstarter.
`Flipstarter - A fund raising platform built on the Bitcoin Cash blockchain to help fund projects and ideas`.
The aim of the campaign is to raise **84 BCH** which will be channeled to Bitcoin cash enlightenment (meetups/education). In an expanded view, Bitcoin Cash Nigeria, intends to create a hub across the states of it's community which spreads to the southern, eastern, western and northern part of Nigeria.
Bitcoin Cash Nigeria Flipstarter Donors and Messages
So far, the Bitcoin cash community is contributing generously to the attainability of the BCHNG flipstarter goals.
In all of the contributions so far, I've noticed that each donor leaves a short message probably a wish for the community and it's been fun for me reading through. Over here, I'll just share the messages with an insight.
Here's **Corbin's** message on the campaign which could probably be the reason for his support.
P2P Cash For The World! Keep spreading adoption!
Corbin believes Bitcoin cash is a peer-to-peer cash that needs to be adopted across the world. He further ended with leaving a task for the Bitcoin Cash Nigeria community, spreading the adoption of Bitcoin cash which we will with earnest pleasure perform.
**Rucknium** isn't disagreeing with the fact that Nigeria is a commercial hub, so he left a message also with a donation to clear his believe.
Nigeria and the Nigerian diaspora are a major commercial hub and network for Africa and the world. This will be big
Surely, the BCHNG hub will be big, big enough to accommodate and partner across Africa.
**Jimmy Song**'s message initially sounded like a meme when i first read it, Until i realized he meant Bitcoin is Cash (Bitcoin cash) and should be spent like money. He said,
Why use Bitcoin if you have mastercard
Well! I redirect this as a question to you reading this. 🙂
**Omar** has been a friend and has been supportive to the adoption process in his own ways. This time, @Omar wishes the BCHNG community good luck.
Good luck guys! BCH for the win.
**Emergent Reasons** is part of the success the BCHNG community is building ahead, he sees the flipstarter campaign as a step up to the community's ambitions and a channel that will create history in the usage of money without permission. Thanks @emergent_reasons
A history of helping people discover permissionless money, and a step up in ambition 💚
**TomZ** ( @TomZ ) left a piece of advice as a message alongside his donation. He said,
Spread the love
This could be a proof that Bitcoin Cash is beyond money, perhaps he is right. Freedom could be birthed from love.
Could **T'challa** be a descendant of Aritstotle? Funny me 🤣, his message on the campaign is a wise saying,
In times of crisis the wise build bridges, while the foolish build barriers
Applying this to the campaign I think he means it's wise to spread the adoption of Bitcoin cash as it could serve as liberty to financial bondage.
**ErdoganTal**k's ( @ErdoganTalk ) donation came with a two word message which could probably mean a lot in context.
Economics Writer.
On the Sands of time, it will be written that digital money is well spent as Bitcoin Cash.
**Mike Komaransky** left a wish message alongside his donation
Good luck with BCH adoption in Nigeria
**Majamalu** is an absolute supporter of Bitcoin cash in his ways, he visited the campaign, left a donation with a message
Let's get rid of fiat money once and for al
**Zquest** didn't want Majamalu to own all the fun for himself , so he tapped into the fun of donating believing the campaign is worth and it's fun supporting BCH adoption based projects.
In conclusion,
I seize this opportunity to appreciate every donor so far and others intending to be a part of a successful funding for the **BCHNG** flipstarter campaign.
6 Interesting Use Cases of Bitcoin Cash
Bitcoin Cash, having forked off the original Bitcoin chain has maintained its characteristic as a digital currency for peer-to-peer transactions as long as Satoshi's Whitepaper for Bitcoin is concerned. Its open sourced feature has made it easy for developers to build upon it yielding vast use cases which with time will be a boost to the blockchain.
It is assumed that a technology is more effective if it fulfils a real use case because that, brings real users to it on daily basis which in turn creates real value to it. In this article, 5 use cases of Bitcoin cash will be listed.
Remittances
Utilizing Fiat Money as met real life restrictions and limitations due to its centralized nature compared to Digital money like Bitcoin Cash is is decentralized and tax-free.
Remitting with Bitcoin Cash is a relief from Border restrictions, Huge taxes for transacting, Third parties (Banks), Securities and lots more. The evolution of cashless transactions, borderless remittances has been pivoted by Bitcoin Cash from it's inception.
Today, one can easily remit Cash as Bitcoin Cash to anyone, anywhere in the world, either through a corresponding public key (wallet address) or through a link and vice versa.
Payment Solutions / Replacing Escrows
An Escrow is usually attributed to the involvement of a third party in a term legally or otherwise. Most times, this exposes users to some certain level of risk which may cost your entire money or probably some delays. Bitcoin Cash can be used as an alternative to exclude escrows where there's no need for trust.
Transacting with Bitcoin Cash requires no third party making the process more transparent and saves your money .
The Open sourced nature of Bitcoin Cash makes it easier for developers to build out of it, in this case payment solutions are being developed which is well-suited for solving the issues of the current global payment systems.
Money
Bitcoin Cash can also be used as a medium of exchange. Interestingly, it is more convenient to spend Bitcoin Cash due to its structure which allows faster transactions with minimal costs.
Recently, Bitcoin Cash have witnessed an increasing number of merchants across the Globe and with time, one will easily move to the next door store, purchase goods and pay with Bitcoin Cash.
Savings
The next generation of money is gradually becoming digital. Bitcoin Cash can be saved yielding profits even better than saving in the Banks.
One can easily convert fiat currency to a digital currency like Bitcoin Cash and lock it up in a safe wallet for years with private keys well reserved. In cryptocurrency terms is called "**Hodling**". Hodling digital currencies like Bitcoin Cash is profitable.
**Decentralized Finance**
Decentralized finance—DeFi—refers to the shift from traditional, centralized financial systems to peer-to-peer finance enabled by decentralized technologies. Bitcoin Cash features the ability to be utilized in the capacity of a decentralized financing system.
Within a couple of years, DeFi has brought radical changes in the financial world. Its performance is outrageous being compared to financial systems based on the legacy system in terms of efficiency and security. It’s true that there are some risks in DeFi but those within the manageable limits.
Tokenization
Tokenization is also one of the core uses of the Bitcoin Cash Blockchain which involves the creation, issuing and management of digital assets on a blockchain network.
Under the Simple Ledger Protocol (SLP) a lot of tokens have been created by individuals following an even easier process. Also, Non Fungible Tokens (NFTs) can be created through the process of tokenization.
Traits and Personal Attributes of an Entrepreneur
Genetically endowed factors predisposes individual to entrepreneurship, but they alone do not guarantee success. Even the least genetically endowed people can become successful entrepreneurs if they spend enough time improving their skills, gaining experience, and commiting themselves to proven ideas and self-improvement.
The purpose of this Article is to help one to examine or scale oneself to know his innate entrepreneurial traits he was born with, while learning and nurturing the ones he acquire through learning.
Entrepreneur's Profile
Entrepreneur's profile means those personality traits and characteristics necessary to be successful in one's own venture. Across the globe many dream of becoming an entrepreneur, running their own businesses simply because being an entrepreneur can be exciting and profitable. But being an entrepreneur is also demanding and at times very difficult causing several already established entrepreneur to fold up.
People believe that raising several millions for a business meant that they were a successful entrepreneur. But the fact is this: so many of these businesses are not going to succeed, and so many of these companies were launched by people who are just not entrepreneurs. According to Bloomberg, nine out of ten startups will fail and eight out of ten entrepreneurs who start businesses fail within the first 18 months, justifying one to dig deep to the rudiments to a successful entrepreneurship.
Characteristics of An Entrepreneur
Not everyone is suited to be an entrepreneur, which may be a good thing to some that are entrepreneurs. After all, if everyone starts his own business, there wouldn't be anyone left to work in those businesses.
Entrepreneurs are take-charge people who want to work for themselves. Even though they know that many small businesses fail, they are willing to take the risk and face the uncertainty, some of the characteristics of successful entrepreneurs are as follows:
**Desire For Independence**
Of a the characteristics of entrepreneurs, the most consistent one is the desire for Independence. Entrepreneurs simply would rather work for themselves than work for someone else. They want to make their own decisions. In fact, some say that people who have been fired are good candidates to become entrepreneurs because they may have proven that they're independent enough to run their own businesses.
**Self Confidence**
Entrepreneurs have confidence in their abilities to meet the challenges of running a business. They have a great deal of Self motivation, that is, they set their own goals rather than having them set by a manager or boss.
They work hard to reach their goals, which shows they have self discipline. They correct errors and improve on their own performance without any prompting from someone else. These are confident people who believe in what they are doing and believe that the job is worth doing.
**Willingness to take Risks**
Another characteristic of entrepreneurs is their willingness to take Risks. Most successful entrepreneurs say that they don't take Risks, they take calculated risk. That means that they have thought about their project carefully and tried to figure out in advance that the probability of success is high. Either formally of informally, entrepreneurs conduct market research to be sure that there is need for their product. That preliminary work can lead them to the conclusion that their businesses have a good chance of succeeding.
Even though entrepreneurs work hard to succeed, they also are willing to fail. They would rather take the risk and learn from their failures than never take the risk at all. And very often, if they fail, they turn around and try again. Many entrepreneurs fail four or five times before they finally become successful.
**Ability to recognize opportunities**
Entrepreneurs are individuals who recognize the opportunity on which to build a business. In many instances, they are opportunities that are bypassed by others. This opportunities may include meeting a demand that is not currently met, putting out a product that is much better than what is currently on the market, or solving customers problems that is of value to them. An Entrepreneur not only has the ability to recognize the opportunity, but also has the ability to develop a business that provide goods or services consistent with the opportunity at a profit.
Reasons why Some Entrepreneurs Fail
A whooping 80% startups fail. But why? What can we learn from the high rate of failure of small businesses as it can be helpful to our own business aspirations.
Here are some reasons why these Entrepreneurs fail;
Failure to stay in touch with customers through deep and continuous dialogue.
No differentiation in the market
Failure to communicate value propositions in clear, concise and compelling fashion
Leadership breakdown at the top
Inability to nail a profitable business model with proven revenue steams.
Disadvantages and Advantages of Entrepreneurship
Entrepreneurship is one of the four factors of production, - Land, Labour, Capital and **Entrepreneurship.**
Entrepreneurship is the tendency of a person to organize a business of his own and run it profitably using all qualities of leadership, decision-making and managerial caliber. Entrepreneurship involves not only the process that leads to the setting up of a new business, but also the expansion of an existing business.
Advantages of Entrepreneurship
Entrepreneurs aren't necessarily people who go into business because they like danger or risk taking. There are many Advantages to having their own business. For instance, many people have discovered that they don't have enough opportunities in their present professions as such, they solve their problem by starting businesses of their own. Below are some Advantages of Entrepreneurship:
**Satisfaction**
Many people start a business when they discover a service or product that can fill a need or want in society. That is true whether the business is a catering service for parties and weddings, a refuge for injured wild animals and birds, or a computer software company.
Transforming an idea into a successful business is very rewarding. Owners often think that the reward is well worth the time and effort they devote to their businesses. They like the feeling that they have built a business that solves a problem and it's successful.
**Full Use of Skills**
Many Entrepreneurs work for other businesses before they go off on their own. They accumulate expertise in their specialty, and they often also gain skills in management, planning and finances. At some point in their careers, they decide that they want to use those skills in businesses of their own.
**Profit**
If you work for someone else, you have the security of a regular paycheck. But the profit from the product you produce, whether it is a new hairdo or an automobile, goes to the company. Your salary is paid out of the money the company makes.
Many Entrepreneurs decide that they no longer want to work to make a profit for someone else. Even though they are fully responsible for the finances and bills of their own business, many business owners decide they want the full benefits of their own labors.
Disadvantages of Entrepreneurship
Being successful isn't easy. You don't just start a business and watch the profits roll in. Consider large businesses, there are officers - each has managers, assistant manager and so on. There are departments that are responsible for everything from ordering of raw materials to setting the work schedule for employees. The person who cleans the floor doesn't usually have the responsibility of packaging and distribution to customers. If you become an entrepreneur, you are likely to face the following:
**Total Responsibility**
An entrepreneur just starting out is charge of everything. That means that the company's success or failure depends on just one person - the owner. The owner must manage workers, manufacturing, and shipping where necessary, he or she has to find customers, sell the product, and be certain that the orders are net.
The owner of a restaurant for instance must acquire the license and permits to operate from government, handle advertising, order and so on. No matter what size the business is, the owner still takes all the responsibility. If the business grows, the owner may hire people to carry out some of these duties. Even then, the owner is the one who is ultimately responsible.
**Financial Risks**
One of the Disadvantages of embarking on entrepreneurship is the financial risk involved, as it takes money to set up a business and get a business going.
For instance, the owner has to obtain space for the business; furnish it with things like desks, filling cabinets and employ workers. While the business is struggling to get established, the owner has to pay bills and wages.
**Long, Irregular Hours of Work**
Being your own boss is a lot of work. Studies show that those who start their own business work more hours those who work for someone else. It isn't unusual for their schedules to extend to longer hours even on weekends.
Extra: Over population and Global Lifestyle
From the moment the first humans stepped foot on Earth, man has dutifully kept the biblical injunction to be 'fruitful and multiply'. We are now more than seven billion people walking to and fro the surface of the Earth and it is evident that man has no plans to reduce the speed of reproduction.It is quite reasonable because reproduction is the reason you and I are alive.
It is the reason why our specie still exists on the planet. Now, the pressing question is; where should we draw the line? How much is too much?
Over population is the state in which the number of people living in a given geographic location is more than the number of available resources needed to live optimally. From the definition, we can say that large scale reproduction is not the main problem. The problem is when we breed to the point that we cannot efficiently sustain the lives of our progeny. This is when it becomes a problem.
The causes of over population are innumerable. First, we live in societies that encourage people to have children. After all, children are a gift from God. The couple who choose to remain childfree are stigmatized. We have not reached a point where we normalise not wanting to have children. Then, medical science has improved worldwide when compared to the 19th century.
The chances that a mother or her child will die during childbirth has been significantly reduced. Complications that would have resulted in death can now be resolved. In Nigeria and other countries of the world, abortion is illegal. The unwanted pregnancy has to be carried to term. This results in more people living on Earth.Also, living conditions have greatly improved. When humans were still hunter gatherers, the average life expectancy was shorter. You could be killed by something as small as an anopheles mosquito. Wild animals and exposure to unfavorable living conditions contributed immensely to death. With civilization and improvements in technology, we can live longer than our ancestors.In these past centuries, it was necessary to reproduce massively because any disaster could result in the end of our specie.
The more humans, the less likely the chances that our specie could simply cease to exist. Today, we still breed the same way. Is it simply the inability to obey instructions targeted at preventing pregnancy when satisfying our sexual desires or could it be something more sinister like something in our brains that makes us reproduce in large numbers such that if disasters brought the death of a large number of us, our specie would not completely die off?
To understand the effects of over population, we will look at Nigeria as a case study. With over 200 million people and little resources going round, it is safe to say that the country is over populated. I'd begin by saying that there is hunger in the land. You do not have to search far to see this. While food production increases in an arithmetic progression, people breed in a geometric progression. This has led to different forms of criminal activity in the country.
The unemployment rate is also very high. Thousands of graduates are churned out from the universities yearly. They will roam the streets. Some will become under employed while others will still be dependent on others for their daily bread. The funny part is the number of people still seeking admission into such institutions. They may just end up continuing the cycle.
Our cities are too congested. Houses are built with very little space. Poor housing, poor city plan and the presence of boreholes everywhere, we are left wondering when the Earth will cry out over such depletion. As more trees are being cut down, the quality of air is compromised.
Deforestation coupled with air pollution from increased refuse and automobile waste is likely to cause more harm than good.So, what can we do?Firstly, we can prioritize the education of females. Educated women are less likely to start reproducing very early. The number of children they will choose to have will also be reduced.
Tell them to take responsibility over sexual activities. They are the carriers of pregnancy so they should be actively involved in its prevention. Dear lady, insist that your partner uses a condom if you are not using any other form of birth control. Get educated about the various contraceptives and other methods of preventing pregnancy.Secondly, the government has an active role to play. The government can start by creating an enabling ground for business.
Amenities like good roads and constant electricity should not be a source of concern in a country like ours. Margaret Thatcher once reminded us that the state has no source of income rather than that of her citizens. If the income of the average person is boosted, it means they can afford to pay more taxes and levies. All these help to increase the resources we have.Policies like 'one child per couple' could also be introduced. This should be followed with strict enforcement and harsh punishment for offenders.In all, if we ever hope to curb over population, everyone has active roles to play. We can come together to make our localities optimally populated. At the end, it will still be beneficial to us.
6 Ways To Spend Bitcoin Cash
It can only be a Digital currency for peer-to-peer transactions if it can be spent on daily basis to aquire services, buy goods, and even, send money to friends and family members.
According to the Satoshi Nakamoto, a pure digital currency should be a peer-to-peer electronic cash that would allow payments to be sent online directly from one party to the other without a third party (financial institution) and this can also be attributed to buying of goods and services.
Despite the volatile nature of crytocurrencies (Bitcoin Cash), it doesn't affect it's nature of being peer-to-peer which means you can still spend them as you will.
The Bitcoin Cash community has placed merchant adoption as a vital aim in their agenda, taking advantage of the nature of its Blockchain which allows faster transaction with lower fees. This aim has seen the far spread of Bitcoin Cash merchants across the globe, both online and offline making it easier for their users to spend on shops.
Here in this article, I'll be taking a quick dive into ways in which you can spend your Bitcoin Cash perhaps to purchase goods and services both online and offline.
Spend On Amazon Using Purse.io
Did you know that you can spend your Bitcoin cash on Amazon? Bitcoin Cash is a digital currency and can be spent on shops like amazon to purchase goods. Users can now spend bitcoin cash on Amazon through a secured platform called purse.io.
To shop on Amazon, simply create an account with purse.io, search for an item using the search area or simply import your amazon wish list to your purse.io account and make payment using your Bitcoin Cash. Interestingly, you get discounted for each goods purchased from Amazon with Bitcoin cash. https://purse.io
Buy Gift Cards
You can also spend Bitcoin Cash in purchasing giftcards such as apple cards, amazon cards, airbnb, american eagle etcetera. Gift cards are prepaid value stored cards which can be redeemed as cash.
To spend your Bitcoin Cash on gift cards, you can visit eGifter and navigate to the buy with Bitcoin cash link, choose your preferred gift card and click on pay with bitcoin cash. https://www.egifter.com/buy-gift-cards-with-bitcoin-cash
Book Flights
There are diverse platforms today which allows users to book flights with major crypto currencies like Bitcoin Cash, som of those platforms are; Travala, Bitcoin Travel, Cheapair, to mention but a few. These platforms allows the option of paying for flights, booking hotel rooms with Bitcoin Cash. So if you are looking towards booking a flight with your Bitcoin Cash, then you can try one of those. https://www.travala.com/ https://bitcoin.travel/ https://www.cheapair.com/
Locate Bitcoin Cash Offline Merchants Around You
Maybe you just want to visit a restaurant, barber shop, Hair saloon or a boutique to spend your Bitcoin Cash but you don't just know where to go, this might help. Simply get connected to the internet, then type and search, map.bitcoin.com on your browser. The map automatically dictates and direct you to a nearby Bitcoin cash merchant if available. https://map.bitcoin.com
Spend On Games
Perhaps, you are just a game freak who wants to play a game and pay with Bitcoin cash, well there are diverse gaming platforms on the internet with Bitcoin Cash included as a payment option.
One of such popular gaming platform is games.bitcoin.com. Maybe a description of it would not be as cool as you diving in to see it all for yourself. There are lots of other platforms in which you can spend on games asides from the one mentioned above. https://games.bitcoin.com
Make Donations
Are you a philanthropist looking for ways to support others and you just have Bitcoin Cash to spend? Then with a platform like Flipstarter, you can make donations with Bitcoin Cash and also source for donations. https://flipstarter.cash
**Disclaimer**
Please ensure that before spending on any of the listed platforms in this article, you are satisfied with their terms of services as spending on then is solely your responsibility and I will not be held liable.
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Top 10 Projects on the Bitcoin Cash Blockchain to Watch out
**Bitcoin Cash** being a digital currency for peer-to-peer transaction, operating on what is called an electronic cash system has other built-in functionality that allows varieties of projects to be built on it - Open sourced. It's open sourced nature has seen multiple of applications being built on it.
The growth of any community can always be attributed to sustainable development and promotional strong will. Over Bitcoin Cash's four years of existence a lot have been committed to upholding the standards and Development which includes projects in DeFi (Decentralized Finance), Gaming, Privacy, NFTs (Non fungible Token), payment gateway, tipping and crowdfunding, Content Creation and Wallets.
Today, I’ll talk about ten of such Blockchain projects that can create a long lasting impact on the Bitcoin Cash community.
Sidechain
**SmartBCH**
One of the hottest projects on the Bitcoin cash ecosystem is SmartBCH, a side chain built to make compatible the Bitcoin cash Blockchain with Ethereum's EVM and Web3 API.
The introduction of smartBCH have given birth to multiple DEXs which will in no time skyrocket the utility case of the electronic money.
Gaming
****Bch.games****
Bch.games is a multi-gaming platform built on the bitcoin cash blockchain and is without doubts one of the projects to be placed on your watchlist, I'll tell you why.
The multi-gaming platform allows you to play games like; Dice, Target, Mines and Crash to win Bitcoin Cash
Publishing
****Read.cash****
This is quite similar to platform like publishox, but in its case it rewards Bitcoin Cash for content creation. Read.cash allows it users to publish contents like articles, images, and videos- on any topic and earn Bitcoin Cash (BCH).
Social Networks
****Noise.cash****
Birthed from read.cash, noise.cash is a kind of micro-blogging social media platform just like twitter with its outstanding feature of getting users randomly tipped with Bitcoin cash.
Within its period of existence, Noise.cash has been ranked 27,792 as at the period of this writing by alexa.com with a large user base including top Bitcoin cash supporters like @MarcDeMesel alleged to be the key sponsor of the platform.
****Memo****
Similar to Noise.cash, here's another social networking platform built on the bitcoin cash blockchain. One outstanding feature always attributed to meme, is the ability for its users to create and sell their tokens.
Shopping Gateway
****Purse****
Purse.io allows users to spend their Bitcoin Cash in purchasing goods directly from Amazon. This project happened to earn its way to this list because of its purpose. In addition, with Purse, users can earn bitcoin cash and also get 15% discount from Amazon by spending Bitcoin Cash.
NFT Market
****Juungle****
The demand for non-fungible tokens (NFTs) have witnessed a surge and publicity these days. Similar to Opeansea, Bitcoin Cash lovers brought to existence Juungle.net, a market for NFTs based on the Simple ledger protocol of Bitcoin Cash.
Juungle.net allow its users to individuals to purchase SLP-based NFTs with bitcoin cash (BCH), and the NFTs can be stored for collecting purposes.
DeFI (Decentralized Finance) & Privacy
****DeToken****
Detoken is a trustless and non-custodial web platform that allows easy access for peer-to-peer financial product from anywhere in the world. This project was first announced by @GeneralProtocols as the first DeFi project on Bitcoin Cash alongside AnyHedge.
****CashFusion****
Another project to watch out for which makes use of the Bitcoin Cash blockchain is CashFusion. CashFuion is built with the aim of providing privacy to Bitcoin Cash transactions.
Crowdfunding & Tipping
****Flipstarter****
Built on the Bitcoin cash blockchain, Flipstarter happens to play a major role to most other Bitcoin cash projects and otherwise as it is aimed at a way for any project to engage with potential funders in a way that encourages accountability for projects and fairness for funders.
****Chaintip****
Chaintip is a tipping bot that operates accross all major social platforms like twitter, reddit which is used to easily tip a favorited content.
Conclusion
These listed projects are active projects and have been of real use to the Bitcoin Cash community and otherwise. There a multiple projects beyond the listed ones and they are important in their own ways and have also contributed to the growth of the Bitcoin Cash community.
It is usually expected of any investor to make personal research before investing into any asset. This article is not a financial Advise as you are liable to any result you get from your actions.
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An Overview of the Bear and Bull Market In Cryptocurrency
In most case scenarios, especially when related to Investment, the terms Bull and Bear market is usually associated in describing market conditions. In such cases, the Bull market will be used to state an appreciation in market value while the Bear market is linked to depreciation in the market value.
Despite the differences in both market conditions, it is certain that each has a season, a time comes where a certain market condition lasts a good while and must be expected by all investors. These terms span across the ForEx markets and the Cryptocurrency markets, usually influenced by the economical situation surrounding the season.
In this Article, the definition of these terms will be explained, the differences and possible causes of the market conditions will also be discussed.
Definition of The Bull and Bear Markets
The term '**Bull market**' is usually associated with longer period of price growth in stocks or cryptocurrency. A very recent and popular one in the cryptocurrency market can be linked to the 2017 Bitcoin Bull market which saw the spike in Bitcoin price from $900 to $20,000. https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.coindesk.com/900-20000-bitcoins-historic-2017-price-run-revisited%3Famp%3D1&ved=2ahUKEwjYj8vK2rTxAhWC8OAKHfjcDHkQFjAAegQIAxAC&usg=AOvVaw0nckaYHm3p7gjjTXw32Gcg&cf=1
In other words, the term '**Bear Market**' is a direct opposite of the Bull Market. This is usually associated with sustained and declining growth in the prices of stocks or cryptocurrency.
During the Bull Market or Bull run as it is likely called, majority of investors are buying, demand outweighs supply, market confidence is high, prices are rising creating bullish patterns for technical analysis. This usually blows up when the confidence is poked resulting from either negative economical occurrences or huge sell offs by top investors called **whales** there by leading to the Bear Market.
How To Ascertain the End of A Bull Market and The Beginning of A Bear Market
A lot of speculations usually arise when there is excessive Buys into the bull market to when sell offs will begin. Even during a bull market there is usually some occurrences of market fluctuations, dips, and corrections along the way. This might result in the misinterpretation of short-term downward movements as the end of a bull market.
Following past occurrences, History has made Investors believe that the Bull markets likewise the Bear market do not last forever and this past occurrences and patterns created grounds for technical analysis. With this the Ability to perform technical analysis, the Bull market or the Bear market can be predicted prior to it's occurrence. https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.investopedia.com/terms/t/technicalanalysis.asp&ved=2ahUKEwj-3tHn6LTxAhUMmBQKHQmzAFwQFjAhegQIOBAC&usg=AOvVaw3bsyVrTIY9fSS_f7NdSd00
A sharp downwards price movement can begin a bear market, where more and more investors believe prices will continue to fall and that creates fear amongst other investors which may cause a downward spiral as they sell in order to prevent further losses.
Despite the differences between these two market seasons in cryptocurrency, Investors can like take advantage of the differences and still make profits from them.
How To Take Advantage of Both The Bear And Bull Markets
First and foremost, one must be able to ascertain which session of the market is coming to play ahead before being able to take advantage of it.
For traders, going long during a bull market can fetch enough bucks likewise going short when the sense of a bear market is felt. This can only be determined by a proper practice of technical and fundamental analysis to avoid making a wrong option.
During a bear market, Investors are mostly advised to buy the Dip and go short in their positions. This means accumulating more assets, taking advantage of the price decline and making profits as the price continues to go down respectively.
On the other Hand, Since the Bull market usually come to play after the Bear market, Investors can make profits by longing their positions and selling as the price of the asset plunges.
In a simpler term, just buy during the Bear market, it accumulates profits when the Bull market comes, that way you sell off with huge gains.
It is usually expected of any investor to make personal research before investing into any asset. This article is not a financial Advise as you are liable to any result you get from your actions.
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