BitcoinCash is one of the earlier cryptocurrencies in the crypto space. It is one of the most popular and successful fork cryptos of Bitcoin and stands for peer-to-peer electronic transactions. Recently the sidechain of BitcoinCash has been released and is successfully operating to this day and getting a huge response from the BitcoinCash community. In this article, we will see a starting guide to bring your BitcoinCash on the SmartBCH and start harnessing the power of DeFi and smart contracts at cheap gas fees.
Smart BitcoinCash
As I already told that Smart BitcoinCash is an EVM-compatible sidechain for BitcoinCash. It brings enormous opportunities for developers to build various products on BitcoinCash as Smart BItcoinCash is compatible with Ethereum EVM and web 3 APIs which directly facilities the BCH community with dApps and Defi ecosystem with low gas fees.
With the launch, Smart Bitcoin Cash got huge support from the BCH community itself and soon the dApps started to show on the SmartBCH. The response is so huge from the community that DeFiLama started to track SmartBCH in just a couple of days after launching. According to DefiLama currently ~$30 million has been locked in smartBCH.
Bridging BitcoinCash To smartBCH
Here we will see a step-by-step process of bringing BitcoinCash to the smartBCH in order to use dApps built over smartBCH. For the purpose of this guide, we will use MistSwap bridge, one of the most popular platforms built over smartBCH. So let's get started with the process.
(Note: Make sure you have BCH in your wallet, prefer Bitcoin.com & make sure you have added smartBCH network on metamask)
Step 1
Visit: https://app.mistswap.fi/bridge and connect your metamask (smartBCH network)
Step 2:
As the BitcoinCash ---> smartBCH bridge is the default, no need to change it but have a look! After confirming the bridge fill in the value that you want to transfer (in BCH). After that click on the "Bridge BCH"
Step 3:
After completing Step 2, there will a pop-up asking for the signing permission, click on "Sign" and proceed. Then you will see a deposit address and a QR code. Use Bitcoin.com or any other wallet to send your BCH to that address.
Step 4:
After that, you will receive the BitcoinCash on smartBCH and use it on various platforms built over it.
Conclusion
Accessing in-development platforms can be tremendously profitable as well as risky as things are just getting started over there. And in my opinion, smartBCH can be a game-changer for the entire BitcoinCash ecosystem and there are plenty of good projects already developing over there that you can participate in. But before making any financial decisions do your own research and stay away from scam projects.
Useful Links Related To smartBCH
smartBCH official website: https://smartbch.org/
smartBCH Documentation: https://docs.smartbch.org/smartbch/
Screener for tokens/projects on smartBCH: https://www.marketcap.cash/
DefiLama analytics: https://defillama.com/chain/smartBCH?currency=USD
Hope you find this article informative. Thanks for your time and appreciation!!
