If you haven’t heard of SmartBCH, then you’re missing out on one the hottest innovations in the cryptocurrency space to date. Maybe you’re just like I was, you heard about it but you never realized the potential of the technology and what it could offer you. Lucky for me I have some friends that were kind enough to alert me to what I was missing out on, and since then I fully immersed myself in SmartBCH. I was blown away by what I discovered and my passion and interest in Bitcoin Cash has been reignited to its highest level. This video is the first in a series on Smart BCH, where I share my personal experiences and show you how to leverage SmartBCH to grow your cryptocurrency portfolio.
So what is it? Essentially, Smart BCH is Ethereum recreated as a sidechain on Bitcoin Cash. Its purpose is to increase the throughput of Web3 applications and reduce the cost of transactions to a fraction of its Ethereum counterpart. In doing so it allows more users to participate in DeFi while simultaneously enjoying a greater user experience. Until now, many people have been excluded from DeFi due to network congestion and high fees. It’s not unusual to be paying hundreds of dollars to simply broadcast a transaction and that’s unfeasible for the average Joe. With SmartBCH that’s no longer a barrier to entry, given the throughput can be as large as one billion gas every 15 seconds. What that translates to, is transactions only costing a fraction of a cent. This quality will attract masses of new users to DeFi and existing users from platforms such as Ethereum or Binance Smart Chain who are seeking to increase their margins. Given that Smart BCH is EVM & Web3 compatible, much of the infrastructure that has taken years to develop on Ethereum has been forked over. After just 2 months we already have multiple DEXes, marketplaces, NFT collections and token projects.
If you’re a Bitcoin Cash holder you may not be familiar with DeFi concepts, but you’ll want to learn real fast now that it’s available to you. It’s an opportunity that you don’t want to miss. In traditional banking you may have noticed that the banks pay you a measly 1% or so every year. That’s for the privilege of letting them hold your money and doing with it as they please. Well in DeFi land you can essentially do the same thing and earn hundreds of percent every year. In most cases this is done by providing asset liquidity to traders and farming the yield. You simply lock your funds into a smart contract and in return you are rewarded with both interest and a percentage of fees. If you have Bitcoin Cash sitting idly on a wallet, you can put that money to work and begin generating passive income. Something which has enabled common folk to massively grow their savings and even to quit their 9 to 5 jobs. I will be explaining these DeFi concepts in-depth in the following videos and showing you how it’s all done on Smart BCH, so make sure you subscribe now and you won’t miss it.
We’re still in the early days of Smart BCH and there is a very lucrative opportunity to strike gold on one of the many up and coming projects. Whether that’s on a DEX token like MIST or the LAWPunk NFT token, an indication of how early we are is the liquidity which is only in the low millions of dollars. This is small in comparison to the liquidity on established platforms like Ethereum or Binance Smart Chain, the difference is that while those platforms have reached their capacity Smart BCH has many times greater room for future growth. In theory if we surpass those platforms, well, you do the math. That’s why you need to try SmartBCH.
In the next video I’ll be covering how to Configure Metamask for SmartBCH and how to deposit Bitcoin Cash through a bridge. Stay tuned!