Coins.ph has expanded its cryptocurrency offerings by adding Bitcoin Cash (BCH) alongside PHP, BTC, and ETH. This move aligns with their mission to support low-cost, blockchain-based payment solutions.
Understanding Bitcoin Cash (BCH)
Bitcoin Cash emerged on August 1, 2017, following a hard fork from Bitcoin. During this event, BTC holders received an equivalent amount of BCH (1:1 ratio).
👉 Discover how Bitcoin Cash enhances transaction efficiency
Key Features of Bitcoin Cash:
- Designed for faster transactions and lower fees compared to Bitcoin.
- Functions as a peer-to-peer electronic cash system.
- Maintains decentralization while improving scalability.
Step-by-Step Guide to Buying Bitcoin Cash on Coins.ph
Purchasing BCH on Coins.ph mirrors the process for buying BTC:
Download the Coins.ph App
Fund Your Wallet
- Visit a 7-Eleven and use the CLiQQ Kiosk to deposit PHP.
- Alternative payment methods include bank transfers or e-wallets.
Activate Your BCH Wallet
- Navigate to the BCH option in your Coins.ph dashboard.
Convert PHP to BCH
- Tap Convert in your PHP wallet.
- Select BCH from the dropdown (replacing BTC).
- Slide to confirm the transaction.
👉 Explore seamless crypto conversions
Pro Tip:
- Use QR codes or manual addresses to transfer BCH to external wallets.
Selling Bitcoin Cash on Coins.ph
To convert BCH back to PHP:
- Open your BCH wallet and select Convert.
- Choose BCH to PHP and confirm the exchange.
For external BCH deposits:
- Retrieve your BCH address via the Receive button.
- Initiate the transfer from your exchange to Coins.ph.
Note: Monitor real-time exchange rates for optimal conversions.
Withdrawing Funds from Coins.ph
To cash out:
- Click Cash Out in your PHP wallet.
Select from options like:
- Bank transfers
- Cebuana Lhuillier
- Pickup services
FAQ
1. Is Bitcoin Cash the same as Bitcoin?
No. BCH is a fork of BTC, optimized for quicker, cheaper transactions.
2. How long do BCH transactions take on Coins.ph?
Transfers typically complete within minutes.
3. Are there fees for converting BCH to PHP?
Yes. Fees vary based on market conditions and network congestion.
4. Can I use Coins.ph without ID verification?
Limited functionality is available, but full features require KYC.
5. What’s the minimum BCH purchase amount?
This depends on current market prices and Coins.ph policies.
6. How secure is Coins.ph for crypto transactions?
Coins.ph employs encryption and two-factor authentication (2FA) for security.
By following this guide, you can efficiently trade Bitcoin Cash while leveraging Coins.ph’s user-friendly platform. Always stay updated with the latest crypto trends for informed decisions!