Purchase Bitcoin SV (BSV) with Korean Won (KRW) easily at Switchere and benefit from fast, secure transactions.
Bitcoin SV (BSV), standing for Satoshi Vision, is a digital asset that emerged from a contentious hard fork of the Bitcoin Cash (BCH) blockchain. Its fundamental mission is to restore what its proponents believe to be the original Bitcoin protocol as detailed in Satoshi Nakamoto's whitepaper. The project's core philosophy centers on massive on-chain scaling, primarily by removing the block size limit, allowing for an unbounded block capacity. This technical approach is designed to facilitate a high volume of transactions with extremely low fees, enabling practical micropayments and large-scale data operations directly on the digital ledger.
Operating on a Proof-of-Work (PoW) consensus mechanism, the BSV network leverages the established Unspent Transaction Output (UTXO) model for its cryptographic security. Beyond its function as a peer-to-peer electronic cash system, BSV is engineered to be a global data carrier. The native BSV token is used not only for transaction fees but also for writing data to the blockchain, powering complex applications and smart contracts through its robust Scripting language. This has led to the development of the "Metanet," a concept for an on-chain internet. BSV positions itself as a foundational layer for enterprise-level Web3 infrastructure, aiming to provide a single, stable, and scalable public blockchain for global use.
The most common method is using a regulated South Korean cryptocurrency exchange that lists the KRW/BSV trading pair. This process typically requires users to complete strict KYC/AML verification and link a real-name domestic bank account for KRW deposits. Once the account is funded via a bank transfer, users can place an order for BSV on the exchange's order book, leveraging this direct fiat on-ramp.
Yes, South Korea has a stringent regulatory framework. To conduct a digital asset purchase with KRW, you must use a licensed cryptocurrency exchange that has a partnership with a domestic bank. This involves mandatory, strict KYC/AML compliance, including linking a real-name verified bank account to your exchange account. This 'real-name account' system is designed to enhance transparency and prevent financial crime in fiat on-ramp transactions.
For secure asset management, it is highly recommended to transfer your BSV from the cryptocurrency exchange to a non-custodial digital wallet where you control the private keys. Options include hardware wallets (cold storage) for maximum security or reputable software wallets (hot storage) that specifically support the BSV protocol. Leaving assets on an exchange exposes you to counterparty risk, whereas a personal wallet gives you direct control over your funds.
'Satoshi Vision' refers to the goal of the BSV protocol to restore the original Bitcoin protocol and scale it to serve a global user base. This philosophy emphasizes an unbounded block size, allowing the network to process a massive volume of blockchain transactions for very low fees. For users, this means BSV is designed for high-throughput applications and microtransactions, which is a key technical differentiator from other Bitcoin forks.
BSV's commitment to an unbounded block size allows its network to handle a very high volume of transactions directly on the main blockchain. This on-chain scaling results in consistently low transaction fees, often fractions of a cent. For users, this makes BSV economically viable for use cases involving microtransactions, such as content tipping, online gaming rewards, or IoT device payments, which are impractical on blockchains with higher fees.
The Metanet is a protocol and conceptual framework built on top of the Bitcoin SV blockchain. It leverages BSV's massive on-chain scaling capacity to store all forms of data—from websites to documents—directly on the blockchain. By combining transactions with data using features like OP_RETURN, the Metanet aims to create a commercially viable, user-owned internet where data is immutable and monetizable through microtransactions, adhering to the original Bitcoin protocol design.