How to exchange Bitcoin Cash (BCH) to Ethereum (ETH)
Features of Bitcoin Cash to Ethereum exchange
For the exchange, the user will need any wallet that supports the Ethereum network, for example:
- Trust Wallet;
- Rabby;
- MetaMask;
- Ledger;
- Trezor;
- MyEtherWallet (MEW) and others.
The user will receive ETH cryptocurrency to the Ethereum wallet address, which will be transferred to him by the selected exchanger. It is essential to remember that many EVM-compatible networks, such as BNB Chain, Polygon, and Arbitrum, support the same address format, starting with the character "0x". Therefore, one must be careful about which network a user chooses before exchanging on a particular venue.
In addition, with BestChange, users can exchange BCH cryptocurrency for ETH not only in the native Ethereum network but also as a wrapped WETH token in the identical blockchain and in the BEP-20 format in the BNB Smart Chain network.
BNB Smart Chain is suitable if it is not important which network to store and use ETH cryptocurrency, as transactions in this network are much faster and cheaper than those on the Ethereum blockchain.
Procedure for exchanging Bitcoin Cash (BCH) to Ethereum (ETH)
The first step is to find and select a suitable exchange platform. In the exchange table's left part, the user must choose Bitcoin Cash (BCH), i.e., the asset he will sell. In the right part, the asset to buy should be chosen:
- Ethereum (ETH), the original cryptocurrency of the network of the same name;
- Ethereum BEP20 (ETH) — a wrapped token in the BNB Smart Chain blockchain;
- Wrapped Ethereum (WETH) — a wrapped token in the Ethereum blockchain.
At this stage, it is important to clarify one detail: wrapped tokens have no particular advantages over the original Ethereum cryptocurrency, as they cannot be used to pay commissions, and the cost of token transfer will be more expensive than sending genuine ETH in the same network.
After selecting the direction in the exchange table, the user will see a list of exchange services that directly fit their request. This list has all the necessary information about each site:
- exchange rate,
- available limits,
- user reviews,
- peculiarities of the exchange office.
If the user has decided on the exchange platform, it is necessary to click on its name, after which BestChange will redirect him directly to the site of the exchange center.
The second step is to create an application. In it you need to specify the amount of cryptocurrencies to be exchanged. In addition to the amount, the application should include an email address, which is necessary to receive a check upon completion of the exchange, as well as the address of the Ethereum wallet in the 0x... format.
Also, to start a transaction, the user needs to accept the site's terms of use, which it is recommended to familiarize thoroughly. Exchangers strictly follow KYC/AML rules and thoroughly check users' wallets for "clean" assets before transactions.
After sending the application, the exchange will send the address of the BCH wallet, to which the user needs to transfer the specified amount in Bitcoin Cash. After transferring the BCH cryptocurrency, it is necessary to wait until the number of transaction confirmations required by the exchange service is reached in the Bitcoin Cash network (as a rule — at least 8). Exchangers set the number of confirmations individually; usually, this information is specified when creating a request.
The exchanger will send ETH cryptocurrency to the user's wallet once the required number of confirmations is reached. After receiving Ethereum, you can leave feedback on the exchange platform's work — this will help other users when studying information about the service.
