BCH is the Easiest Way to Move Funds Between Exchanges

Bitcoin Cash works the way cryptocurrency should

Bitcoin cash works the way cryptocurrency should

Photo by Dan Meyers on Unsplash

In my short time as a cryptonerd, I’ve come to acknowledge two realities. First, my funds almost always enter via a centralized exchange. Think Coinbase or Binance. And second, whatever next coin I want will inevitably only be available on a different exchange than where I have the available funds to buy them with.

My solution to the coins-I-want-aren’t-on-my-exchange problem has been to sign up with multiple exchanges and deposit more funds to buy the new coins. This was possible in the past because I was transitioning from 100% money in banks and looking to slowly moving assets into cryptocurrency, anyway. In a way, it helped me by giving me an excuse to put more funds into cryptocurrencies!

More exchanges, more problems

But, alas, I’m getting to the point where I don’t have more assets I want to move, and “just deposit more” is becoming an increasingly less desirable option. So, what can I do?

Well, the first and most obvious thing I did was to transfer BTC between exchanges. It’s the currency of the future, right? And all the exchanges have it? Feels like a no-brainer.

…right?

Well, this is where we hit cryptocurrency’s biggest problem: fees. To send $15 of Bitcoin, I need to pay almost $2 fees. That’s a 13% tax to send money to yourself!

Source: author screenshot of Coinbase

And that’s exactly where the miracle of Bitcoin Cash (BCH) shines through. Want to guess how much it costs to send $15 using BCH? It’s about 0.00000226, which is roughly $0.001.

The other beautiful thing about BCH is that it’s everywhere you want to be. At the time of writing, it’s the 11th largest coin by market cap. That means you can convert or trade any currency on any exchange to BCH and send it to any other exchange where it can then be converted or traded for another currency.

How about an example?

Here’s the specific task I needed to do yesterday. I had about $300 of The Graph (GRT) on Coinbase that I wished to convert to Cordana (ADA). I used Coinbase to convert the GRT to BCH, which cost me nothing. Then I sent it to my Uphold wallet, which again cost me nothing — a fraction of a cent. And finally, I converted the BCH to ADA in Uphold, which basically cost me nothing.

This entire cross-exchange coin swap was basically free, all because of Bitcoin Cash.

Compare this to doing the same operation on, say, Uniswap, where you could easily pay more than $15 in fees to exchange $15 in tokens. (Which I have regrettably done!)


I’m still pretty new to Bitcoin Cash, and I’m not sold on it as a long-term investment growth opportunity — but I can say this: it handles the job of low-fee fund transfers remarkably well. It makes moving funds between exchanges completely painless, which improves accessibility to many cryptocurrencies.

It’s certainly looking like BCH will be my go-to for fund transfers, and I’ll also be keeping an eye on its longer-term potential as a result!


This story was originally published on This Crypto Life on March 7, 2021.

“Binance Announces New Browser That Earns BNB”

Photo by Tandem X Visuals on Unsplash

The browser + token + wallet + DEX quadruple-threat

A chromium-based web browser that lets you earn BNB by simply using the internet like you always have. You get all the same extensions & functionality that you know & love from Google Chrome, but now you’re also earning BNB.

Binance introduced BNB as a native token, and they incentivize its use by offering reduced fees when you pay using BNB. Using the Binance browser would be a no-brainer, right?

I’ve got bad news: the Binance browser doesn’t exist. (Yet.)

However, what if I told you “the next big exchange” was just getting started, and its token will offer the same incentives as Binance offers for BNB on its platform — and you can buy this token today for, say, $0.50?

And what if I told you this new exchange already has a browser that you can use to earn its magical native token?

That’s exactly what the folks at Brave are attempting to do with their 2.0 roadmap.


The Brave 2.0 Roadmap

In the roadmap announced on February 22, 2021, Brave lists the Brave DEX Aggregator — “DeFi for everyone” — as a key objective.

Brave will bring DeFi to everyone through a new decentralized exchange aggregator to enable token swaps with distinct advantages and added value for Brave/BAT users, including:
 • Discounts when utilizing BAT for paying transaction fees.
 • Discounts for users that hold BAT balances in their wallet.
 • Multi-chain support with many assets and blockchains.

Replace BAT with BNB, and it starts to sound an awful lot like Binance’s value proposition, doesn’t it?

Except, Binance doesn’t have a browser. And they don’t have a mechanism to deliver their token to millions of daily users for free. And they don’t have a way to use their token to tip websites and content providers in popular corners of the internet like Twitter and Reddit.

All Binance has is an established centralized exchange and limited-time advantage in the dApps ecosystem with Binance Smart Chain (BCS).


What If

It’s certainly a tall order but consider the possibilities. Think if you could go back in time and buy BNB for $0.50. I’m not suggesting that BAT is en route to USD 300, and I’m not suggesting a 10–100x spike in the next 6 months, but think about what they’re doing.

They already have a browser. They already have an established token.

As cryptocurrency and web3.0 starts to take off, the community needs to address things like Average Joe’s ability to connect a wallet to a website. The user will need to understand how to buy & trade tokens and interact with this new world.

Brave’s creating a new wallet and DEX that, coupled with incentives for using tokens earned for free just from using their Chrome-based browser, will surely become the default experience for the sea of lay users.

It’s a bold prediction, but Brave’s 2.0 roadmap is a step toward becoming the default gateway to cryptocurrency and the next generation of the internet. It’s an ambitious goal, to be sure, but it’s hard not to ask: what if they pull it off?


I’m looking for feedback! What do you think of the Brave 2.0 roadmap and my claim of their potential? Are we staring at a 100x opportunity, or will BAT continue to underwhelm? Let me know what you think by leaving a comment below!


This article was originally published on read.cash on March 2, 2021.