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Exchange Chia (XCH)

If you're looking to swap Chia, SwapSpace is your one-stop shop. We have some light reading for you — in case you'd like a refresher on what is Chia, or some fresh information about XCH’s price movements. And, of course, we provide you with multiple Chia exchange options so that you can choose the offer with the best rates and lowest Chia fees, as well as other parameters that suit you.

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Chia Price Stats

To help you make a decision about exchanging your Chia, we gathered some cold hard numbers: Chia price chart and other stats, such as Chia market cap.

XCH 24H HIGH

XCH 24H HIGH $31.26526009

XCH MARKET CAP

XCH MARKET CAP $963,985,774.087

XCH CIRCULATING SUPPLY

XCH CIRCULATING SUPPLY 31,286,435.437 XCH

XCH 24H LOW

XCH 24H LOW $30.32401057

XCH PRICE

XCH PRICE $30.81162046

XCH 24H VOLUME

XCH 24H VOLUME $14,901,585.115

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Chia Price Chart

Here you can see the current price of Chia, as well as Chia price history.

What is Chia?

Chia is a decentralized cryptocurrency that was created in 2018 by Bram Cohen, the creator of the BitTorrent file-sharing protocol. Chia aims to be a more eco-friendly and sustainable alternative to other cryptocurrencies like Bitcoin, which require massive amounts of energy for mining.

Instead of using the energy-intensive proof-of-work (PoW) algorithm used by Bitcoin, Chia uses a proof-of-space and time (PoST) algorithm. This algorithm requires users to allocate unused hard drive space on their computers to create so-called plots, which are then used to generate new Chia coins through a process called farming.

To create a proof of space, a user needs to create a "plot," which is essentially a pre-computed file that contains a large amount of cryptographic data. The plot file is generated by using a verifiable delay function (VDF), which takes a certain amount of time to complete and ensures that the plot file cannot be generated too quickly.

Once a plot file has been created, the user can participate in the farming process by submitting the plot to the network. The network then uses the plot to generate proofs of space and time, which are used to validate new blocks on the blockchain.

The idea behind Chia's PoST algorithm is that it allows for a more equitable distribution of coins compared to PoW projects, as users do not need specialized hardware or vast amounts of energy to mine Chia. Instead, users can participate in farming using standard computer hardware.

Chia has gained popularity in the cryptocurrency community due to its unique approach to mining and its eco-friendliness. However, like all cryptocurrencies, Chia carries risks and potential for volatility in value.

XCH is the native cryptocurrency token of the Chia network. It is used as a medium of exchange for transactions on the Chia blockchain, as well as a reward for users who participate in the farming process to secure the network.  

As a cryptocurrency, XCH has many of the same characteristics as other digital currencies. It can be sent and received by anyone with a Chia wallet, and its value is determined by market supply and demand. 

XCH is also used to pay transaction fees on the Chia network. Whenever a user sends a transaction, they need to pay a small amount of XCH to the network to have their transaction processed. This fee is collected by farmers who add the transaction to the blockchain, providing an incentive for them to secure the network.

One unique feature of the Chia network is that it is designed to have a limited supply of XCH. The total supply of XCH is capped at 21 million coins, similar to Bitcoin. Unlike Bitcoin, however, Chia's supply of XCH is not generated through mining. Instead, it is created as a reward for farmers who secure the network by providing their unused storage space.

The fees on the Chia network are determined by the amount of storage space required to store a transaction, as well as the current network demand. 

The current average fee on the Chia network is around 0.0001 XCH per transaction. This is equivalent to around $0.05 to $0.10 USD, depending on the current market price of XCH. However, the actual fee can vary depending on the size of the transaction and the current network congestion.

A Simple Way To Exchange Chia Here At SwapSpace

Step 1
Step 1

Choose a pair

Choose the cryptocurrencies you would like to exchange among more than 1800 coins and tokens. Pick them from drop-down menus. Type the number of coins you want to swap.

Step 2
Step 2

Select the best rate

You choose the rate – we do the magic! Pick up the exchange service by the rate which meets your requirements. Make sure you are okay with the selected service network fee and privacy policy: some of them require you to pass the AML/KYC procedure.

Step 3
Step 3

Transfer funds

Send the exact amount to the address provided and receive the crypto in your wallet within minutes. Don’t have a wallet yet? Our support will recommend a good one!

Step 4
Step 4

Receive your coins

You’ll get your coins in a few minutes! The exact time is a subject of various parameters such as blockchain network workload, transaction volume, our partners’ processing speed, etc. Concerned about your transaction? Check the swap tracker or feel free to contact the support: support@swapspace.co.

Exchanging Chia: SwapSpace’s Video Tutorial

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Frequently Asked Questions

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