Chia coin (XCH) is a Chia Network blockchain token created by BitTorrent founder Bram Cohen. This cryptocurrency runs on the Proof of Space and Time algorithm and uses disk space as a transaction validator.
Keep reading the new StealthEX article and find more about XCH crypto and how to buy Chia coin.
Chia Coin Popularity
According to Chia coin news, the token got popular in mid-April 2021. The reason was an unusual way to mine the token. Disk space is used to get Chia coin. So, users who have free hard drive space can start mining.
The popularity of Chia coin led to a shortage of HDDs and SSDs in Hong Kong in April 2021. Due to the increased demand for the devices, their average Chia crypto price tripled.
Chia Network Features
Chia cryptocurrency offers holders lots of benefits, including:
- Sustainability. Thanks to Proof Of Space and Time, this token uses 0.16% of the annual BTC energy consumption. Since this project is in the Circular Drive Initiative, which decreases e-waste, it encourages everyone to reuse HDDs.
- Security. It’s the most decentralized blockchain with about 350 thousand nodes employing Nakamoto Consensus since 2009. Thanks to Chialisp, the safety of XCH holders.
How To Mine Chia Coin?
Since Chia cryptocurrency uses a unique algorithm, the Chia coin mining process differs. Users have to:
- Install the Chia software on their PCs.
- Free up 108 GB of hard drive space to store the entire Chia blockchain.
- Synchronize the entire Chia blockchain that users already have with the blockchain of other Chia miners.
After that, you can start mining.
Since Chia creates an eco-friendly ecosystem and is supported by Naval Ravikamt, StilMarket, and other international investment companies, experts have a positive Chia crypto price prediction.
According to DigitalCoinPrice, Chia coin price will get over $211.26 in January 2025. A CoinArbitrageBot team even believes Chia Network price will be over $1,339.06 by the same time.
Where Can I Buy Chia Coin?
StealthEX is the most trustworthy Chia coin exchange. With this platform, you can buy Chia in minutes with no need to pay hidden fees and wait for hours for your transaction.
How To Buy Chia Coin?
First, you should choose Bitcoin in the left drop-down list. Then choose XCH token in the right list of coins.
After setting the pair it is necessary to enter the amount of BTC you want to exchange.
Here you will see the estimated amount of Chia crypto that you will receive after the exchange.
Now when everything is set for the exchange, press the START EXCHANGE button and you will be taken to the next page.
In the second step, you need to provide the XCH recipient address. The recipient address must match the cryptocurrency you are going to receive. Remember to double-check the information you enter prior to the exchange as the transaction you make cannot be canceled.
As soon as you have carefully checked all the details, you can press the NEXT button and you will be redirected to the CONFIRMATION page with the information about the exchange.
Pressing the NEXT button you will be redirected to the EXCHANGE page.
At first, you will see the address where you need to send your BTC coin to continue the exchange. StealthEX will also provide you with the exchange ID. It will allow you to keep all the information about the swap. It is recommended to save your exchange ID or the link to your exchange.
After sending BTC coins to the shown address, the information on the EXCHANGE page will be renewed automatically. The EXCHANGE page has several statuses that will change during the time of the exchange.
- The first status is Awaiting deposit.
- The following status is Confirming. This means that StealthEX is confirming the transaction you made.
- The next status is Exchanging. During this time the exchange is being made.
- Then the status will be changed to Sending to your wallet. This indicates that there are just a few minutes left until you will receive your Chia coin.
Completion Of The Exchange
Finally, you will be redirected to the FINISH page. This shows that the exchange has been successfully made and you will receive crypto to the address provided. To be sure that XCH coins were sent to your wallet you can also use the Output hash shown on this page and check it in the blockchain list of transactions.
From here you can either create a new exchange on StealthEX.io or leave the page and check your Chia Network coin wallet to be surprised at how fast you got XCH crypto. Usually, the process is quite rapid so you won’t need to wait long.
And by the way, don’t forget that now our users can purchase cryptocurrencies using fiat and we still offer the opportunity to buy crypto at fixed rates!
We are always ready to give you support if you have any issues with exchanging coins. Our team does our best to protect all members and answer their questions.
You are more than welcome to visit StealthEX exchange and see how fast and convenient it is.
Originally published at https://stealthex.io on January 13, 2022.