What is Bitcoin Cash
Bitcoin Cash (BCH) appeared on 1 August 2017 as the result of a split (hard fork) of the Bitcoin network. Part of the community believed Bitcoin should remain electronic cash for everyday payments, which required a larger block size. Bitcoin took a different path, so supporters of bigger blocks launched a separate network — Bitcoin Cash. Everyone who held BTC at the time of the split received the same amount of BCH.
Bitcoin Cash kept Bitcoin’s core properties: mining, blocks roughly every 10 minutes and a capped supply of 21 million coins with halvings. But thanks to a much larger block size the network fits more transactions, and fees are usually a fraction of a cent. Bitcoin Cash positions itself as a means of fast, cheap payments.
Key facts
| Parameter | Value |
|---|---|
| Ticker | BCH |
| Network at ROVEN exchange | Bitcoin Cash (mainnet) |
| Address format | CashAddr: “q…” or “bitcoincash:q…”; also legacy “1…”/“3…” |
| Block time | About 10 minutes |
| Maximum supply | 21 million BCH |
| Network fee | Paid in BCH, usually a fraction of a cent |
| Memo / tag | Not needed |
What Bitcoin Cash is used for
- Everyday payments. Low fees make BCH convenient even for small purchases.
- Transfers. BCH can be sent quickly and cheaply, regardless of Bitcoin network congestion.
- Accepting payments. A number of shops and services accept Bitcoin Cash.
- Investment. BCH remains a notable cryptocurrency with a long history.
How to exchange Bitcoin Cash at ROVEN exchange
- Choose a direction, for example BCH → USDT TRC20 or USDT TRC20 → BCH, and enter the amount.
- If you’re receiving BCH, enter a Bitcoin Cash address. We recommend the CashAddr format, starting with “q” or “bitcoincash:”.
- Create the order — the rate is locked for 30 minutes — and send the exact amount to the address in the order.
- Bitcoin Cash produces a block roughly every 10 minutes, so a swap usually takes 20–40 minutes.
What to watch out for
- The main risk is confusion with Bitcoin. Legacy BCH addresses (“1…” and “3…”) look exactly like Bitcoin addresses. Use the CashAddr format to rule out mistakes.
- Don’t send BCH to a Bitcoin address or vice versa: they’re different networks and the funds may become inaccessible.
- Make sure the recipient’s wallet supports Bitcoin Cash specifically, not just Bitcoin.
- As with Bitcoin, a transfer needs confirmations — allow time for blocks.
The CashAddr format
To tell Bitcoin Cash addresses apart from Bitcoin ones, the network introduced its own CashAddr format. An address starts with “q” (regular) or “p” (script address), and the full form includes the “bitcoincash:” prefix. Such an address can’t be confused with a Bitcoin address, and Bitcoin wallets simply won’t accept it. Most BCH wallets can show the address in both formats — choose CashAddr.
How to store Bitcoin Cash
BCH is supported by Electron Cash, Trust Wallet, Exodus and the Ledger and Trezor hardware wallets. On hardware wallets Bitcoin Cash uses a separate app or account — don’t confuse it with Bitcoin. Keep your seed phrase offline.
Frequently asked questions
Can I send BCH to a Bitcoin address?
No. They’re different networks. If the address belongs to an exchange, the funds will most likely have to be recovered through support. Use CashAddr addresses to avoid the mistake.
How long does a BCH transfer take?
A block comes roughly every 10 minutes, so crediting usually takes 10–30 minutes and the whole swap about 20–40 minutes.
Does Bitcoin Cash need a memo?
No. Every recipient has their own address; no memo is used.