MistSwap Releases a smartBCH Bridge to the Cryptoverse!

MistSwap has been a leading DEX in the smartBCH ecosystem offering superior Defi opportunities such as staking and yield farming with high APR.

A new bridge to convert BCH into its SmartBCH tokenized counterpart has been just released by MistSwap, and we are about to test it!

But it is not just a simple BCH to smartBCH bridge. It allows swaps to smartBCH using

This recent bridge by MistSwap with the user-friendly approach simplifies the transfer of crypto funds in smartBCH.

MistSwap Bridge!

SmartBCH is bringing DeFi and NFTs for everyone to enjoy and participate in the future of finance. With low fees ($0.03-$0.15 depending on the contract gas requirements), smartBCH presents a unique opportunity for developers and cryptocurrency owners.

MistSwap now allows holders of various cryptocurrencies to convert their crypto assets into BCH and move into smartBCH without demanding a lengthy procedure.

Having integrated SideShift.ai and hop.cash, the MistSwap Bridge provides the best conversion rate to swap 16 cryptocurrencies into BCH and directly process the bridging into smartBCH.

It is the simplest way for users of other platforms to move their crypto in smartBCH.

The smartBCH decentralized bridge to Ethereum and other EVM compatible sidechains will be released in a few months, however, there is a different approach in this service by MistSwap, since it allows easy conversion and transfers to smartBCH for cryptocurrencies such as Dogecoin, BTC, Dash, that are not EVM compatible.

The MistSwap Bridge is a service making it easy for everyone in crypto to enjoy smartBCH and the smart-contract financial services as DeFi in a cost-efficient approach.

Testing the bridge with BCH-> smartBCH

• Step 1: Connect Metamask

As with all Ethereum (EVM) compatible networks, we have to connect our metamask wallet to MistSwap and arrange the transfer.

New users of Metamask without any experience can follow this guide to set up their Metamask and add the smartBCH network.

How to Set Up Metamask and Add Networks: Binance (BSC), Polygon (Matic), OKEx, SmartBCH - Tutorial

• Step 2: Send BCH to smartBCH

Visit the MistSwap Bridge and send BCH:

In this example, we send 1 BCH to smartBCH for our purposes which can be DeFi farming, staking tokens, NFT minting, or use of various Dapps that slowly started to appear.

For the use of this service to transfer 1 BCH we will pay fees estimated at 0.001BCH (~$0,3).

• Step 3: Bridge BCH

Pressing Bridge BCH, we initiate the procedure that will send the selected amount of BCH to smartBCH. Two popup windows appear:

The metamask signature is required to interact with hop.cash contract:

We sign the message and automatically connect with hop.cash to proceed.

• Step 4: Scan the QR code or send funds to the Bitcoin Cash address:

We proceed by sending funds from our Bitcoin Cash wallet to the intermediary address MistSwap provides.

If we scan the QR code the amount will be ready so it only takes seconds to send the funds.

The DEX message changes to the one above, meaning the funds were received and the transfer process has started.

And this was it. All steps were easy and our BCH is now on our Metamask SmartBCH wallet ready to enjoy the future of finance!

In the example above, the funds reach our smartBCH wallet in just a few seconds.

Bridges: BCH to smartBCH

Currently, the methods we have to send BCH to smartBCH are:

• hop.cash (Web3)

• prompt.cash (Web3)

• MistSwap (DEX)

• CoinFLEX (CEX)

CoinFLEX is a centralized exchange and also has a KYC rule when the total amount of withdrawals for a single user surpasses $10,000. It is best for users to bear that in mind. CoinFLEX is a financial institution with certain obligations.

(source)

The bridges contain certain liquidity, so when there are big transfers it should be better to contact the admins of the websites on their respective telegram links. Hop.cash is integrated into MistSwap DEX, and has previously performed many transfers of considerable amounts between BCH and smartBCH.

SmartBCH DEXs Rise To The Challenge

The smartBCH DEXs keep introducing new options that help the whole ecosystem evolve.

Besides the MistSwap Bridge (bridge and conversion service by MistSwap) we also have MistSwap analytics and the introduction of governance with Mist token.

TangoSwap recently announced a new development, the SmartSwap aggregator, a SEP20 (smartBCH tokens) swap service that allows trading at the best exchange rate between all the smartBCH DEXs.

1BCH DEX also upgraded the website and servers and is always offering competitive APR for yield farming. Currently, it is fast and smooth and covers the ground fast to reach higher TVL.

BenSwap has recently introduced a new option called BenSwap Ranches that provide some of the highest APR in the DeFi space.

MuesliSwap DEX also seems to be in recovery mode for its smartBCH operations. Tt focused a lot on Cardano recently and with this approach lost a huge chunk of this market so far, but seems it is recovering lately.

The whole smartBCH ecosystem is getting better and now with the MistSwap Bridge adoption of smartBCH from the crypto community gets easier than ever.

TVL will certainly keep rising and more BCH will be locked into the smartBCH protocol as opportunities with smart contracts keep increasing.

Cover Photo: by firaangella1 on Pixabay (modified)

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No financial advice intended.

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