General Information about Bitcoin and Crypto used by rLebanon Discord

What is Bitcoin Cash (BCH)?

Bitcoin cash is a cryptocurrency created in August 2017, from a fork of Bitcoin. Despite their philosophical differences, Bitcoin Cash and Bitcoin share several technical similarities. They use the same consensus mechanism. More reading: https://www.investopedia.com/terms/b/bitcoin-cash.asp

Why do you use Bitcoin Cash (BCH) as the default currency in /r/Lebanon Discord?

Even though we would have preferred to use BTC, the fees for Bitcoin are high, transactions take a lot of time to get confirmed and, most importantly, it doesn't make sense to send and receive small amounts (<10$) with BTC. BCH doesn't have all these issues, it has a huge community and a lot of support. 

Which bot are you using for crypto transactions on Discord?

https://tip.cc/

How do I add money to my Discord tip.cc account?

Send a private message to the bot: $deposit BCH

More information: https://tip.cc/guides/depositing-and-withdrawing

How do I withdraw money from my Discord account to another wallet?

Send a private message to the bot: $withdraw BCH

More information: https://tip.cc/guides/depositing-and-withdrawing

Should I keep the money in my tip.cc discord account?

It's much more preferable if you move the money to a safer wallet. Usually non-custodial wallet. If you're using a phone you can use https://wallet.bitcoin.com/ 

For trading you can move your money into Binance

How can I get USD with my BCH or crypto?

For people living in Lebanon:

The easiest way is to sell your crypto for USD using peer to peer groups. People usually prefer to buy and sell the stable coin USDT so we'll have to exchange our crypto to USDT before starting the sale.

  1. Sign up on Binance
  2. Withdraw your money from Discord to Binance
  3. Exchange your BCH to USDT
  4. Sell your USDT peer to peer using LebBTCmarket.com or Localbitcoins.com

For  people living outside Lebanon:

You can directly transfer from exchanges like Kraken to your bank account.
  1. Sign up on Kraken
  2. Withdraw your money from Discord to Kraken
  3. Transfer your money from Kraken to your Bank account

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