eCash (XEC) is the new name for BCHA, a cryptocurrency that originated from the fork of Bitcoin Cash (BCH) and was developed by the Bitcoin ABC team. This rebranding occurred on July 1, 2021, changing BCHA to eCash (XEC). While the name and appearance have changed, the core functionality of the cryptocurrency remains the same. Stay updated with the latest technology news on NEWSLINKER.
The use of the Avalanche consensus protocol is one of the notable features of eCash. This protocol enhances the security of the Blockchain and ensures almost instant transaction confirmation times. It also facilitates future network upgrades, positioning eCash as a forward-thinking platform that can adapt and grow over time.
eCash offers several innovative features, including staking, which allows users to participate in the network’s consensus process and earn rewards. The platform also supports eTokens, which enable the creation of custom tokens within the eCash ecosystem. This feature is particularly beneficial for businesses and developers seeking to leverage Blockchain technology for various applications.
As part of the rebranding from BCHA to eCash, there has been a change in the unit of account. eCash is now expressed in ‘bits,’ where 1 BCHA is equivalent to 1 million XEC. This new value system aims to be more user-friendly and visually appealing, making it easier for everyday users to understand and transact with the cryptocurrency.
The rebranding has not altered the fundamental mechanics of the cryptocurrency; the core remains unchanged. Additionally, eCash maintains the same supply as BCHA, adjusted to the new ratio. Therefore, users who held BCHA before the rebranding now have an equivalent value in eCash, based on the exchange rate at the time of the rebranding.
eCash primarily focuses on payments and aims to provide a scalable solution for value transfer. By integrating Proof of Stake (PoS) Layer 2 solutions, eCash can efficiently handle high-volume transactions. This scalability, combined with the security and speed offered by the Avalanche protocol, positions eCash as a robust option for digital payments.
If you’re in Turkey and interested in buying eCash (XEC), Binance TR is the most suitable cryptocurrency exchange for you. Binance TR allows you to quickly create an account and offers the ability to buy and sell over 100 cryptocurrencies, including XEC. To purchase eCash (XEC) with Turkish Lira (TRY) on Binance TR, follow the steps outlined below.
To open an account on Binance TR, simply visit trbinance.com and proceed from the “Create Account” section. The process involves providing basic information like your email address, phone number, name, date of birth, nationality, and T.C. identity number.
After entering all the required information accurately, you’ll need to verify your account through email or SMS. Once this process is complete, you’ll move on to the next step, which is identity verification (KYC).
Identity verification on Binance TR is a crucial security measure that must be completed before engaging in cryptocurrency trading or during the account creation process. You can perform this verification either through your phone or the official Binance TR website. If using the website, hover over the “Profile” option, click on “Identity Verification and Limits,” and select “Verify.” Follow the on-screen instructions, which may involve scanning a QR code or receiving a verification address via SMS.
Depositing Turkish Lira (TL) into your Binance TR account is straightforward. You can deposit funds from any bank, including Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans. For other banks, you can deposit up to 50,000 TL 24/7 via FAST. Deposits exceeding 50,000 TL from other banks are processed during EFT hours.
To deposit funds, go to the “Wallet” option on the top left of the trbinance.com homepage and select “Deposit” from the dropdown menu. Choose your preferred bank and transfer the desired amount using the provided account name and IBAN address.
Once the transfer is completed by your bank, the funds will be automatically reflected in your Binance TR account wallet.
After depositing funds, you can proceed to buy XEC coin with TL by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website. Enter “XEC” in the search section and select the XEC/TRY option to access the TL to XEC purchase page. Enter the desired price and quantity of XEC, then click “Buy XEC” to complete your purchase.
Binance TR is the Turkish version of Binance, the world’s largest cryptocurrency exchange by trading volume. Binance TR provides both fiat-to-crypto and crypto-to-crypto trading services, leveraging Binance’s technology, security measures, and liquidity. Users in Turkey can conveniently deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY pairs on Binance TR.
Binance TR offers market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls, all supported by Binance’s core functionalities.
Please note that the information provided in this article does not constitute investment advice. Cryptocurrencies are highly volatile and carry risks, so investors should conduct their own research and be aware of the potential risks involved.
