What is Bitcoin SV?

Sep 13, 2022
3 min read

This blog post will cover:

  • What is Bitcoin SV?
  • Where did Bitcoin SV come from?
  • What are the advantages of Bitcoin SV?
  • What are the disadvantages of Bitcoin SV?
  • How to buy Bitcoin SV on SimpleSwap?

What is Bitcoin SV?

What is Bitcoin SV (BSV)? Bitcoin SV is a digital currency whose full name is Bitcoin Satoshi Vision. This name represents the philosophy of its developers. BSV is a result of the hard fork of Bitcoin Cash. It is one of the latest cryptocurrencies to enter the markets. And now it is considered to be the main competitor of BCH.

Where did Bitcoin SV come from?

As you probably know Satoshi is the name of a person or group of people who invented Bitcoin. Although we don't know who these people are, we know something about their vision of cryptocurrency. It is supposed to be worldwide and decentralised. The desire to follow the original vision at first led to the appearance of Bitcoin Cash, and now it helped Bitcoin SV to appear.

What are the advantages of Bitcoin SV?

  • Transaction costs
    Developers of BSV believe that transactions should be cheap and fast. That is a key to a successful development of a cryptocurrency.
  • Scale
    Since the plan is to build a global network, the scale is an important part of the development.
  • Network development
    The team promises fast development.
  • Miners first
    Developers believe that miners’ interests should be put first as they drive the network.
  • Stability
    It should be a network with planned changes, so users could feel comfortable to create new solutions for their businesses.

What are the disadvantages of Bitcoin SV?

Bitcoin SV appeared not so long ago. Since this network is still developing, it is too soon to talk about some major disadvantages. Although it has been noted that mining here is even less profitable than original Bitcoin.

How to buy Bitcoin SV on SimpleSwap?

Let’s say you want to buy Bitcoin SV. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select BSV in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Enter the Recipient’s Address. Bitcoin SV will be sent to this address. Be careful and make sure you use the correct address.
  • Check all the information you have entered. If everything is correct click the Exchange button.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

This is everything you need to know to buy BSV.

Don’t miss our new articles!


Share on: