Bitcoin Cash (BCH), a cryptocurrency that was created as a result of a hard fork from Bitcoin in August 2017, has become increasingly popular among cryptocurrency investors. Similarly, Binance Coin (BNB), the native cryptocurrency of Binance exchange, has seen a significant surge in its popularity due to its utility features. If you are looking to convert your Bitcoin Cash to Binance Coin, there are several steps that you need to follow.
Step 1: Open a Binance account
The first step to convert Bitcoin Cash to Binance Coin is to open an account on a cryptocurrency exchange that supports both cryptocurrencies. Binance is one of the most popular and reliable exchanges that support both Bitcoin Cash and Binance Coin. To create an account on Binance, you need to follow these simple steps:
1. Go to the Binance website and click on the “Register” button.
2. Enter your email address and create a strong password.
3. Verify your email address by clicking on the verification link sent to your email.
4. Complete the KYC verification process by submitting your personal information.
Step 2: Deposit Bitcoin Cash into your Binance account
Once you have created a Binance account and completed the KYC verification process, the next step is to deposit Bitcoin Cash into your account. To deposit Bitcoin Cash into your Binance account, follow these steps:
1. Log in to your Binance account and click on the “Deposit” button.
2. Select Bitcoin Cash from the list of cryptocurrencies.
3. Copy the deposit address provided by Binance.
4. Go to your Bitcoin Cash wallet and initiate a transfer to the deposit address provided by Binance.
5. Wait for the transaction to be confirmed.
Step 3: Convert Bitcoin Cash to Binance Coin
Once you have deposited Bitcoin Cash into your Binance account, the next step is to convert it to Binance Coin. To convert Bitcoin Cash to Binance Coin, follow these steps:
1. Log in to your Binance account and click on the “Trade” button.
2. Select the “BTC” tab and search for the BCH/BNB trading pair.
3. Click on the “Buy” button.
4. Enter the amount of Bitcoin Cash you want to convert to Binance Coin.
5. Review the transaction details and click on the “Buy BNB” button.
6. Wait for the transaction to be completed.
Step 4: Withdraw Binance Coin to your wallet
Once you have converted Bitcoin Cash to Binance Coin, the final step is to withdraw Binance Coin to your wallet. To withdraw Binance Coin from your Binance account, follow these steps:
1. Log in to your Binance account and click on the “Withdraw” button.
2. Select Binance Coin from the list of cryptocurrencies.
3. Enter the withdrawal address of your Binance Coin wallet.
4. Enter the amount of Binance Coin you want to withdraw.
5. Review the transaction details and click on the “Withdraw” button.
6. Wait for the transaction to be confirmed.
Conclusion
Converting Bitcoin Cash to Binance Coin is a simple process that can be completed in just a few steps. By following the steps outlined in this article, you can easily convert your Bitcoin Cash to Binance Coin and withdraw it to your wallet. However, it is important to note that cryptocurrency transactions are irreversible and you should always double-check the transaction details before confirming them.