What is Bitcoin SV and how to exchange BTC to BSV?

Bitcoin, Bitcoin Cash, and Bitcoin SV, all are distinct digital currencies. Bitcoin holds the title of the world's first digital currency, whereas Bitcoin SV and Bitcoin Cash are both altcoins that focus on fulfilling different roles that Bitcoin of today does. Bitcoin SV was introduced after the launch of Bitcoin Cash, but both digital currencies aim to provide solutions to problems that have been faced by the original Bitcoin. Let’s take a closer look at Bitcoin SV.

What is Bitcoin SV?

In the last quarter of 2018, the Bitcoin Cash blockchain encountered a hard fork which resulted in the creation of a new digital currency named Bitcoin SV (BSV) or Bitcoin Satoshi vision. The name of the virtual currency indicates a reference that led to the Bitcoin Cash camp which further split the blockchain into two.

Bitcoin SV might not have been created if the Bitcoin SV proponents and the Bitcoin Cash community would have agreed upon the same block size. The Bitcoin Cash community wanted the block size to remain at 32 MB but the Bitcoin SV wanted to increase the block size to 132MB. Such irreconcilable differences led to the hard fork that ultimately introduced bitcoin SV.

As far as technical specifications are concerned, Bitcoin SV differs from both Bitcoin and Bitcoin Cash through its block size. The increased block size is the only feature that proves to be the biggest and irreconcilable difference.

Which exchange supports Bitcoin SV?

There are a bunch of exchanges that let you trade BSV, and it is very easy to convert to Bitcoin SV through them. Most of the exchanges offer various deposit methods such as Bank transfer ACH, Debit card, Credit card, Bank transfer SEPA, and wire transfer.

How to convert Bitcoin to Bitcoin SV?

The first thing that is required to convert Bitcoin to Bitcoin SV is a cryptocurrency exchange that supports Bitcoin SV in order to complete the transfer from BTC to BSV. It is important to know the price and the market cap of Bitcoin SV to make the most of an exchange.

You just have to go through some easy steps in order to exchange BTC to BSV. Most of the crypto exchanges that support Bitcoin SV provide users with favorable BSV rates and transaction processing time. Remember to compare BSV exchange rates before performing a BSV exchange.

You can easily exchange BTC to BSV by following these steps:

  1. Go to Swapzone.io and choose Bitcoin in the Deposit field. Enter the amount you wish to swap.
  2. Choose Bitcoin SV in the Get Up To section.
  3. Review exchange offers available and find the most appropriate BSV conversion option. If you’re happy with your choice, press Exchange
  4. Enter your BSV wallet address.
  5. Click Proceed to exchange and send in the Bitcoin Deposit to the address generated.
  6. Wait for the exchange to be completed.
  7. You have successfully converted Bitcoin to Bitcoin SV.

Why is Bitcoin SV going up?

Bitcoin SV may be considered a good preference for a long-term investment with an earning potential of +23% in one year. What makes Bitcoin SV better than Bitcoin and Bitcoin Cash? The best thing about BSV is that it features a 128MB block size, which allows for higher throughput than Bitcoin and Bitcoin Cash.

BSV has the potential to dominate the crypto market due to its unbounded capacity for scaling and cheaper transaction fees. As the total number of transactions for BSV has now reached above 580 million (the BTC network it’s 614 million), there are chances that BSV’s total сould surpass the one of BTC.

Best wallet to store BSV coin

Ledger Nano X is one of the perfect devices to store your BSV coins, as it is capable of storing 1000+ cryptocurrencies including BSV coins. It also has a Bluetooth feature that enables you to connect your Android and IOS devices wirelessly to Ledger Nano X and use it with the Ledger Live app.

ElectrumSV is a lightweight desktop client maintained officially by Bitcoin SV. The best thing is it does not require you to download the whole Bitcoin SV solution. You can easily store and manage your BSV coins on Electrum and access all the features of the Bitcoin SV blockchain.

Conclusion

Although we can’t know if Bitcoin SV surpasses the Bitcoin network in the upcoming years or not, BSV might become the next big thing on the crypto market. Bitcoin SV is much more than a virtual currency to be used for global payments since it could also be used by enterprises to power blockchain applications.