On August 1, 2017, Bitcoin split into another currency known as Bitcoin Cash (BCH).what many are describing as an altcoin will fork off from the main Bitcoin network. August 1st is also the scheduled activation of BIP 148, also known as the User Activated Soft Fork (UASF).
After Fork, The price of Bitcoin Cash (BCH) suddenly shot up to $500. Although, Given the circumstances under which BCH was launched, it was an expected rise.
Many BCH owners started selling BCH due to good margins so that they could invest in either BTC or their favorite altcoin in exchange for this free money.
But some users are still looking for reliable exchanges which are supporting the deposit/withdrawal/trade of Bitcoin Cash (BCH) like Bitcoin and other coins.
Best Exchanges to Sell Bitcoin Cash for Bitcoin or other Crypto Coins
Bitfinex is one of the top Bitcoin and Cryptocoin exchange there. But unlike all other exchanges after the fork, Bitfinex has also provided its BTC holders BCH funds, But 1:1 ratio. It has announced a new distribution ratio called “socialized distribution coefficient” because they were expecting a surplus or deficit of BCH at the time of distribution.
This ratio or coefficient settled at 1: 0.8539 at the time of distribution, meaning for every 1 BTC, the holder got 0.8539 BCH.
Changelly is a popular multi-cryptocurrency exchange. Using Changelly exchange is another way of selling your BCC (Changelly denotes Bitcoin Cash as BCC).
Changelly allows you to exchange your BCC funds for 30+ altcoins and also for original BTC. So if you wish to exchange your Bitcoin Cash now you should head toward CoinGyan’s Cryptocurrency Exchange – Changelly and follow the steps given in this official guide.
Cex is one of the most popular bitcoin exchange and The best part is It works worldwide. You can buy BCC/BCH through also in Cex.io
CoinBase is the most popular and easy to use Bitcoin Exchange. But It clears that it will not give any BCH to its user or Trade.
All Other Exchanges listed on the table are giving 1:1 ratio Bitcoin Cash and Also Tardeble.
How Wallets will Manage the Bitcoin Cash Fork
Your bitcoins are safely held in a personal wallet, you can’t lose your Bitcoin and Bitcoin Cash. However, there is a slight possibility that malicious miners might steal your coins when you make bitcoin transactions. To avoid this risk, you may wish to split the coins into specific Bitcoin and Bitcoin Cash wallets.This historic event of Bitcoin fork is another wake-up call for all of us cryptocurrency lovers to control our private keys. You need not trust any third party to control your keys. With wallets such as Ledger Nano S, Trezor you can securely control your private keys and can be your own bank.
Anyway, Fork is and will an integral part in crypto currencies And definitely, it will be interesting to see how Bitcoin Cash perform in the Cryptocurrency market.
I am done here.Now it’s your turn: Which BCH wallets or exchange are using? Are your selling your BCH or HOLDING it? Let me know in the comments below.