eCash
XECThe eCash coin was developed by an expert team of BTC developers that worked on Bitcoin Cash, and it’s also a fork of Bitcoin with a touch of an insistent technical roadmap.The renowned economist Milton Friedman is the innovative brain guiding the cryptocurrency “eCash”. It follows through on the key promise of the blockchain scaling process. The innovative Avalanche Consensus Layer and token layer serve as the perfect technical focal point for eCash. One of the eCash coin’s ultimate goals is to introduce unique features that haven’t been seen in Bitcoin projects. The features include staking, fork-free network upgrades, and subchains. Let’s dive in to learn everything you need to know about eCash and profitable eCash swap.
eCash Exchange Rate
XECWhat is eCash coin?
eCash is a platform is built on many fundamental technologies that support the Bitcoin protocol. Some of these technologies include fixed supply and halving schedules. The tech is combined with governance protocol and a modern Proof-of-Stake (PoS) consensus mechanism.
The eCash ecosystem also aims at providing a simple, swift, and secure payment service for both international transactions and settlements. With this in mind, it becomes its goal to be a “universal currency made available to everyone over the globe”.
XEC token
Its native token “XEC” powers the eCash platform with significant use-cases such as token minting and staking.
Token Minting: With this feature, XEC token holders can mint tokens with a personalized name, icon, decimal places, and supply using the eCash coin protocol. However, users are required to pay for network transaction fees using XEC tokens. In addition, the eCash platform supports NFTs.
Staking: This feature allows XEC crypto holders to participate in Avalanche staking as a part of eCash governance.
Initially, the token ticker for the XEC coin was BCHA (Bitcoin Cash ABC). Now, it has undergone rebranding to change the ticker symbol and redenomination of the token. This rebranding allows BCHA coin holders to convert their digital assets to XEC tokens at a ratio of 1:1,000,000.
eCash also aims at being a user-friendly platform with the help of upgrades like “bits”, which makes it possible to send small XEC crypto payments. Users can now alternatively send an amount like 10 bits instead of inputting a cumbersome value like 0.00001 BTC.
The strategies and plans put in place by eCash to increase XEC market value include the XEC token redenomination process. They argue that psychologically, the market analysis suggests that lower unit prices enjoy better bull market appreciation. Therefore, eCash coin described the redenomination process as a “no-brainer”.
Bitcoin Cash ABC and eCash
Bitcoin Cash ABC (BCHA), which is a fork of Bitcoin and Bitcoin Cash (BCH) officially, launched its rebranding process as eCash (XEC) on July 1, 2021. The journey to eCash coin started when a new Bitcoin Cash blockchain separated from the old one with another hard fork update in November 2018. It was at this moment that the Bitcoin Cash SV came into existence while the initial Bitcoin Cash first became known as Bitcoin Cash ABC before maintaining just Bitcoin Cash as its name.
Two years later, in November 2020, the chain split again and this time resulting in the Bitcoin Cash ABC (BCHA) blockchain. The BCHA chain rebranded itself to eCash in July 2021. In addition to the rebranding, eCash brings a redenomination of the token and introduces a Proof-of-Stake (PoS) consensus layer.
Key features
Avalanche Consensus
Avalanche makes use of four interoperational mechanisms to offer a near-immediate transaction finality combined with low latency, fork-free code upgrades, and high throughput. The Avalanche algorithm is also responsible for the facilitation of the decentralized governance of the eCash coin ecosystem.
CashFusion
Another innovative feature of the XEC crypto network is the CashFusion. eCash plans to ensure users’ complete privacy, which is the central principle of sound money. This innovative plan is what brought about the eCash platform supporting the CashFusion protocol. The Cashfushion protocol is a kind of privacy tech, which is similar to privacy coins.
Cash swap: How to exchange to eCash?
You can perform an eCash swap on Swapzone, which is an eCash exchange aggregator for the best eCash swap rate in the market. Following this step-by-step instruction will help you to get some XEC:
- Open Swapzone on your web browser.
- In the “select pair” tab, choose the “send” section and insert the amount of Bitcoin that you are willing to swap for XEC.
- In the “get up to” section, choose eCash and see the exchange rate.
- Immediately after you enter the details, Swapzone will provide you with a number of offers. You have the option to choose based on the best rate, fastest, and the one with the best service rating.
- If you are unsure about a certain exchange, simply click on it and you will get more information on the exchange partner such as pros and cons along with user reviews.
- Once you find an offer you like, simply click on it and click on “exchange”.
- Enter the wallet address to receive the eCash crypto. Hit on “proceed to exchange”.
- After your deposit is received, the exchange partner will then convert your Bitcoin deposit to XEC. Just wait for the eCash swap to finalize. It may take some time.
- Once the eCash swap finalizes, you will receive your XEC coins at your wallet address. Take a moment to rate the exchange partner and leave behind an honest review. That’s it, your Bitcoin to eCash swap is complete.
eCash wallets
If you don’t know which wallets support eCash, hold on here and read further. There is the eCash wallet section where you can find a place to store your XEC cryptocurrency. Moreover, you can store your XEC crypto on some of the exchanges’ eCash lists as reliable on the website. However, instead of storing your coins on exchanges after purchase, it is recommended to use a dedicated wallet for both long-term storage and security.
Hardware wallets are one of the wallets for the eCash coin that you can use. Hardware wallets are known to provide the most outstanding security but they are relatively more expensive. Nevertheless, you should consider a hardware wallet if you plan for long-term storage. The eCash platform supports major eCash coin wallets like ViaWallet, ElectrumABC, and Dove Wallet. There’s also an option of a non-custodial open-source wallet – Cashtab. For instance, you can check Cashtab wallet review to make sure you use a legit version.
Frequently asked questions
What is the eCash exchange rate?
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Where to find the lowest transaction fees?
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
What is average transaction time?
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
How to choose a cryptocurrency wallet to store eCash?
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
What is the best cryptocurrency exchange for beginners?
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
What is Swapzone?
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
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