What is Bitcoin SV (BSV)? How Does it Work? (2021)
The world of cryptocurrencies is an ever-expanding matrix of finite details. Difficult to keep up with if you don’t have your finger on the pulse. New coins are often created, become popular, and skyrocket in value in a matter of months.
The most popular cryptocurrency, Bitcoin, has spawned several other coins out of it. Through a series of protocol forks that have seen significant development of blockchain technology. One such coin is Bitcoin SV (BSV), a popular alternative to Bitcoin.
Today we’ll explore deeper into Bitcoin SV, with the intention of answering what is Bitcoin SV (BSV)? How much it costs, where it came from, and much more.
What is Bitcoin SV (BSV)?
Bitcoin SV (BSV) is a cryptocurrency that was created out of a ‘Hard Fork’ in the Bitcoin Cash blockchain. Designed to enable users to enjoy lower transaction fees and more freedom in how they use their crypto. You can use Bitcoin SV (BSV) to enjoy lower transaction fees and more freedom in how to use their crypto.
What is the price of Bitcoin SV (BSV)?
Like all crypto currencies, the value of Bitcoin SV (BSV) fluctuates significantly over time. At the beginning of 2021, the price of one Bitcoin SV (BSV) was $278.63USD. But like all coin values, change daily. So, this value may not hold up to the current value of the coin. You can find the current index value of Bitcoin SV (BSV) here.
Who created Bitcoin SV (BSV)?
Bitcoin SV (BSV) was created by Satoshi Nakamoto, who also created Bitcoin Cash back in 2017. Satoshi has been at the centre of Bitcoin’s development, and the crypto world in general, since its inception.
What is Bitcoin SV (BSV) used for?
Bitcoin SV (BSV) was known as the second ‘Hard Fork’ in Bitcoin’s development. Much akin to the intention behind Bitcoin Cash, Bitcoin SV (BSV) was created to lower transaction fees, and make the coin easier to move.
The ideal of BSV is to be a world currency and an underlying platform for on-chain applications. The development idea of BSV is to expand the main chain more radically, restore the protocol of the early version of Bitcoin, radically remove various code restrictions on the main chain, and expand the second-layer network.
For most people invested in Bitcoin SV (BSV), they will be trading it. With the intention to make a profit off the coin’s fluctuating market value. Whilst it is a risky investment, its volatile nature has proven to be incredibly profitable.
How to buy Bitcoin SV (BSV)?
For new crypto investors, the only way to buy Bitcoin SV (BSV) is through exchanges. Quite surprisingly, despite its size, Bitcoin SV is not supported on all exchanges. However, you can buy Bitcoin SV (BSV) directly from several major exchange options. One such exchange is KuCoin, which you can find here. And I will introduce how to buy Bitcoin SV (BSV) on KuCoin step by step.
The first step is to create a KuCoin account. You can visit KuCoin’s official website, click sign up and create the KuCoin’s account .
The second step is to finish the KYC process.
The third step is to transfer your fiat to crypto or deposit your USDT or BTC to KuCoin . This is an important step to buy Bitcoin SV (BSV) on KuCoin. Don’t worry, it is simple. KuCoin allows three ways to buy crypto with your credit card - Simplex, Banxa and PayMIR. You can buy USDT through these fiat gateways.
As the last step to buy Bitcoin SV (BSV) , just go to the KuCoin Trade page and find the BSV trading pairs like BSV/USDT, enter the amount and click “Buy BSV” to complete the purchase.
There is always change happening in the crypto world, and Bitcoin SV (BSV) is just one of those exciting changes in motion. Known as the Satoshi Vision, the creators behind Bitcoin SV hope to create their ultimate version of the Bitcoin blockchain.