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Having Fun With smartBCH

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Avatar for bossben01
Written by   17
1 week ago

Honestly, I started out late with my adoption of smartBCH. And I really missed a lot. I missed by a lot! I missed the opportunity for EBEN and CATS, because these two smartBCH tokens were the first ones that I heard of during the launch of Benswap DEX (decentralized exchange).

I learned about smartBCH in noise.cash as a lot of veteran noisers have been posting about it last month, August. I was intrigued by it and started to read all information I can from those posts. I even went to youtube for information about smartBCH.

Metamask wallet

First thing I needed to learn was how to use or have it in my existing wallet. I was using then coins.ph and bitcoin.com as my main and secondary wallets for BCH. I also had Trustwallet but I rarely use it. The information I got was smartBCH is best with the Metamask wallet. So I downloaded the Metamask app from Google playstore. After that, I needed to manually include the network for smartBCH. When that was done. I needed to fund my Metamask wallet's smartBCH. And since I learned that smartBCH is in the SEP20 network, a bridge is needed to have the normal BCH be used in the smartBCH.

CoinFLEX bridge

This is where CoinFLEX comes in, I accessed the site and linked my Metamask smartBCH wallet address. In this process, I needed to do it several times but was successful in linking my Metamask smartBCH wallet to CoinFLEX. Since it's my first time to use the bridge, I went to the deposit section and selected BCH, copied the BCH address of my CoinFLEX account and went to my bitcoin.com wallet to deposit a dollar first just to try out if it is successful. After waiting a minute, my deposit of a dollar BCH was credited. This time, I went to the withdraw section of CoinFLEX and selected the SEP20 tab, copied my Metamask smartBCH wallet address and pasted it on the SEP20 address input section and selected MAX amount (I saw my deposited dollar BCH amount in this withdraw tab). Clicked confirm and waited for at least three minutes before my withdrawal was completed. By this time, my Metamask smartBCH wallet has a dollar smartBCH already. Yay! I can start buying smartBCH tokens with my dollar smartBCH 😁. But before that, I added more BCH to my smartBCH.

Benswap DEX

To buy smartBCH tokens, I needed Benswap DEX. This is where you can do your exchange for your smartBCH to any smartBCH token you want. The first token that I bought was Bitcoin Cash Argentina or ARG. Why ARG? To show support at the time for the project. I'm still hodling my ARG tokens.

You can play around with the exchange tokens with BCH to see how much you can have with the amount you placed or have a set amount of smartBCH tokens to a value of smartBCH.

Although there are other available smartBCH DEX right now, that would be for another time. I need to explore them myself first.

marketcap.cash

You can have a clearer picture on the current prices of smartBCH tokens at marketcap.cash. You can also find the percent change in price in 1H, 24H and 7Days time period. You can also see the liquidity, marketcap and supply of the tokens. And most importantly the Contract Address of the token can be copied on the right side of the token entry.

This is where I usually hang out when I'm not on noise.cash and read.cash. Just exploring and clicking on the different tokens. You may see me posting screenshots of marketcap.cash on noise.cash just to share the current price of smartBCH tokens. And my thoughts or opinions about them.

FINAL THOUGHTS

Having explored the smartBCH sidechain, it opened another opportunity for BCH to flourish. There are more transactions on the blockchain that fosters a great ecosystem and truly made the user base larger. This also brought various projects that has a good use case. Although, there are projects that seemed to be a scam (or became a scam). Overall, the smartBCH sidechain's purpose is living up to its objective.

With smartBCH, users have another avenue to buy, sell, hodl tokens that they favor and in time make profit from them. Some have profited handsomely already, and continue to do so everyday. With new smartBCH tokens that are being adopted every week, smartBCH is here to stay.

Source:

Lead image created by me with smartBCH logo from @smartBCH tweeter account.

(#11 Article | October 12, 2021)

Content text have been checked through plagiarismdetector.net and duplichecker.com.

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Comments

Same with me, I had everything ready, but as usual I felt a force pushing my hand back and not invest. Anyway, I risked today and invested half BCH just to test the field.

I went with a new DEX on SmartBCH called Muesli, I've read a great review of it by MoreStrategyGains and invested there, just because it seems it was behind in the competition. Now, will they rug-pull? It will be bad for them in my opinion. These are platforms that would make millions with time, if they just want to make 1% of this and live in fear somebody could find them, then it is them risking more.

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1 week ago

There's always that driving force that you mentioned in every investment that we make. But, as they always say, invest what you can afford to lose. And good for you to take your hand and finally risk your half BCH.

Need to check that post of MoreStrategyGains about Muesli then. I know they're on pre-sale, not sure, but I'll look into it. I hope they don't (rug-pull), as being another DEX would really add options for users and at the same time foster good competition with Benswap improving both their services.

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1 week ago