Purchase Bitcoin Cash (BCH) with Peruvian Sol (PEN) easily at Switchere and benefit from fast, secure transactions.
Bitcoin Cash (BCH) is a decentralized cryptocurrency that emerged as a fork from Bitcoin in 2017 to address Bitcoin’s scalability issues, aiming to support faster transactions and lower fees. Designed to be more efficient for day-to-day transactions, BCH increased block size limits from Bitcoin's 1MB to 8MB initially, later expanding further to 32MB, allowing the network to handle a higher volume of transactions at a lower cost. Its ecosystem includes wallet support, merchant adoption, and cross-border payments, making BCH a practical alternative for peer-to-peer digital transactions. Bitcoin Cash has also fostered a community focused on preserving the original vision of Bitcoin as "peer-to-peer electronic cash," prioritizing usability in payments over the store-of-value narrative that Bitcoin has adopted. Its robust development team continues to innovate with features such as Schnorr signatures and new smart contract capabilities, making BCH a unique asset in the cryptocurrency landscape.
To convert PEN to BCH, users in Peru typically utilize peer-to-peer (P2P) platforms or centralized cryptocurrency exchanges that serve the LATAM market. These fiat on-ramps often support local payment methods like Peruvian bank transfers (e.g., BCP, Interbank). The process involves completing KYC/AML compliance, depositing PEN, and then executing a trade on the PEN/BCH order book to acquire the peer-to-peer electronic cash.
For secure trading and long-term holding of your Bitcoin Cash, a non-custodial digital wallet where you control the private keys is paramount. Hardware wallets offer the highest security against online threats. Alternatively, reputable software wallets specifically designed for the BCH ecosystem provide a good balance of security and convenience for daily use. Always back up your seed phrase securely offline.
There are typically three types of fees: 1) A deposit fee for funding your exchange account with PEN via a local bank transfer. 2) A trading fee, which is a percentage of the transaction value on the cryptocurrency exchange. 3) The BCH network fee for withdrawing your digital asset to a private wallet, which is usually very low due to BCH's large block size and efficient design.
Bitcoin Cash, a fork of Bitcoin, was designed to be a highly efficient 'peer-to-peer electronic cash' system. Its main advantages are low transaction fees and fast confirmation times, achieved through a larger block size limit compared to Bitcoin (BTC). This makes the BCH blockchain transaction process suitable for everyday commerce and micro-payments within its growing digital asset ecosystem.
Yes, the BCH ecosystem supports tokenization through the Simple Ledger Protocol (SLP). SLP allows for the creation, management, and transfer of custom tokens on the Bitcoin Cash blockchain. This extends BCH's utility beyond peer-to-peer electronic cash, enabling a range of applications similar to ERC-20 tokens on other platforms, but leveraging BCH's characteristically low blockchain transaction fees.
As a fork of Bitcoin, Bitcoin Cash inherits the same secure Proof-of-Work (PoW) consensus mechanism. The network is secured by a global, decentralized network of miners who solve complex computational puzzles to validate transactions and add new blocks to the blockchain. This PoW system makes the ledger immutable and highly resistant to censorship or attack, establishing it as a secure digital asset platform.