Greetings readers!

Today topic is little bit interesting and will also share my own experience related to exchange and problems we have to face during buy and selling bitcoin cash.

Grab your popcorns and enjoy reading article

Before writing this article i need to do little research to explain this and highlight our all problems in one article. So it require and take my little time this is why i can't publish my article yesterday so don't forget to read full.

PAYEER (exchanging app)

Most of people's in Pakistan use payeer as BCH saving bank and store their bch or HODL in payeer . they don't prefer any other wallet or binance etc almost of everyone know about payeer which is not good for peoples they don't know about fee's rate's and other stuff so I'll highlight our issue's and people's can also highlight if i miss something.

Payeer to payeer transfer

We have two options to exchange or transfer one is payeer to payeer so we have to contact exchanger if he also prefer payeer then otherwise no one prefer this.

So payeer to payeer transfer took a lot of fee's while sending our amount.

Fee is almost 0.5% so it is 10 times high for me

You can see in screenshot when we transfer our BCH through payeer to payeer it take 0.5% fee and almost 0.01 BCH of mine as show in screenshot which will make our loss and never going to buy or sell again just because of this.

0.01 BCH means 5.42$ why i should pay this fee's when i have bitcoin cash . I'll never going to pay this much high fee's as i know it is not bitcoin it is BCH and peoples love it coz it doesn't allow so much fee .

It's not matter of bitcoin cash it's all because of payeer app policy and we have not much option's in Pakistan to exchange and buy stuff.

Exchanging bitcoin cash in payeer

you can see in screenshot price of bitcoin cash showing in this screenshot is false it's current exchange rate is 537$

We can clearly see a big difference of 12$ just be cause of this we are in loss using payeer as our bch saving bank .

I was using it since 2months and holding my BCH amount in this and now my amount is stuck in payeer not able to withdraw it coz of high fee's and exchange rate so always search for profit and now I'm currently waiting for bitcoin cash to pump again to 700$ plus.

Trading bitcoin cash in payeer

Lot's of people's here in my country don't trade they use to exchange their bch with $ not prefer to trade with it .

So those people's who don't trade and prefer exchange are in too much loss.

As i explained in previous paragraph exchange Price shown in payeer is totally scam or anything but we are in loss so never prefer exchange .

while trading give us profit as we can see price of BCH will also increase and you can trade when you got enough profit from it .

I used to exchange my money and didn't know about trading thing in payeer so i almost lost 30+ $ which is quit big amount for me.

Will suggest you same if you're using payeer and if not then don't install this one and choose something else.

exchanging in our local fiat

After trading our BCH we have to exchange it in our local fiat so we can use our money in our daily life but what problems and sacrifice we have to go through while exchanging.

I'll experience my personal experience and what i know about this.

I've one or two option two exchange with our local fiat and in our currency.

• One is we have to pay high fee's

• Other is risky

Whole process is time taking and if we require urgent money then we have to pay extra fee or waiting is the only option.

Payeer $ to cash mall App

This is first one we have to send our $ to cash mall app I'm sure almost 90% of our people's prefer cash mall to exchange our money.

it require too much time and high fee's to pay

Recently last month i exchange my 37$worth amount from this and it took 2$ fee's and wait what happened next.

Guess what?

Received my 35$ amount payment in per $ exchange rate of 153pkr not 165rs

so I've to pay fee and almost 15rs lost why we have to pay so much fee to exchange my own money .

Why people's prefer crypto and why we have to pay fee of our own money?

Cashmall cuts 0.02 fee on 1$ but it will give you exchange rate of 153 not 165 which is bad thing and most of people's pay this and they didn't know whats going on but still they are happy.

Exchange local fiat through Exchanger

Most of you know what it is or some are unaware from this . and if you don't know then you guys will surely gonna love this or don't know maybe you guys are afraid to try this.

Exchanger means easy payment without paying fee's

Here in mine country we used to exchange our $ with our local currency but isn't its a risky ?

I personally never exchanged money coz I prefer to HODL not to exchange or do something with it.

But not everyone think or do same they also need some financial support with their earnings.

Literally i am also waiting for a pump to 700 plus so I'll exchange money and use it to purchase thing i need desperately.

My friend suggested me to exchange your BCH direct in your local currency .

I was too happy to hear this news because he is giving without taking extra fee or giving same amount in our local currency .

Risks

This is quite risky for us as we know scam is every where and how it feels losing your money in one seconds.

Just imagine I'm saving my amount from since 2 months and someone scam your money in one second and you Can't do anything.

Just having person number and name isn't enough to find or waste your time to search in case he scam.

But I'm 100% sure no one will be able to stand again and do work like he was doing before coz now he's is broken or don't have feelings to work again .

This is only reason why I'm scared Exchanging my amount through exchanger .

Time it take to receive our amounts in our currency

So basically time and fee's is everything and we have option like cash mall taking high fee's giving less amount of dollars

And taking much time to process our payments.

Whole process and time it take

From payeer < cashmall <easypaisa or jazzcash

First two step take fee's and only it will give you mini heart attack while withdraw .

Cashmall take more than 24 hours to transfer our amount to easypaisa our local money bank

Why it take 24 hours? Why not in next 24 minutes ?

No requirements or verification required they take your time and if you require urgent then they will ask for urgent fee's which is quite high .

Whole exchanging system is a business nowadays .

By just taking fee's i think so they are now future billionaire or next Elon musk .

World is going so far and thinking next level things and we are here stuck in exchanging fee's for god say stop taking fee and our time we are demanding instant amount receive in our hand with one click .

This is why i am writing this not for any other purpose just with this hope by seeing this someone take stand and start working on this project even I'm trying to make this system better and hope so I'll do this in future or some one else will surely going to stand.

Binance peer to peer

Never experienced this though but i know little bit about this .

We need a bank account or credit/debit to buy or sell our BCH .

Matter is lot's of us are student and don't have debit/credit or bank we can just pay through easy paisa jazzcash or from easy way .

Bitcoin.com local

Last week i tried to buy some BCH through bitcoin.com local site and it was quite easy and have A lot of option to choose.

I currently have some usdt stored in my payeer so decided to buy through payeer but sadly they said we have to do at least 3 or more purchase choosing other option but didn't find any reasonable option to choose and cancel my plans.

Currently i was deciding to buy credit card or something to purchase and sell my bitcoin cash or other crypto easily without giving too much fee's and waiting too long.

But fact is everyone can't afford and take this step so we have to find solution of this as soon as possible .

Friend of mine advised me to to save your BCH in wallet and exchange through exchanger so i will do it and share my thoughts on it .

But first do prayer's BCH will rise again to 700 so i can withdraw my amount without going in loss.

Thank you for reading and please give your feedbacks in comments and also share this with your friends

My previous articles

https://read.cash/@Idksamad7869/my-2-months-journey-on-noise-cash-d566e6e1

https://read.cash/@Idksamad7869/a-complete-guide-to-bitcoincom-wallet-and-their-bugs-00ec2071

https://read.cash/@Idksamad7869/importance-of-recovery-phrase-and-to-recover-amount-if-you-dont-have-seed-phrase-fed2358f

Don't forget to read these it will help you also if you are facing issue related to this or want to know my experience.

Thank you for all those people's who supported me on my previous articles and i just love you guys and keep supporting me like this.