Venus BCH wallet

What is Venus BCH (VBCH)?

vBCH records a deposit in the Bitcoin Cash market of Venus, the money market on BNB Smart Chain. The asset supplied is not BCH on its own chain - it is the BNB Chain pegged version of BCH, and that is also what comes back when the receipt is returned to the protocol. Nothing about holding vBCH gives you anything on the Bitcoin Cash network itself.

How the receipt behaves is standard for Venus: the number of vBCH in your wallet is fixed, while the rate at which it converts back to the underlying reflects interest the market has accrued from borrowers. BNB, not BCH, pays for every transaction. Worth knowing too that smaller markets on a lending protocol are quieter places than the flagship ones - fewer participants, less depth - so the sensible habit is to check the market's condition when you decide to redeem rather than assuming it will behave like a large stablecoin pool.

Supported networks in Tangem (1): BNB Smart Chain.

This is a holding that may sit untouched for a long time, and what it really asks of a wallet is that the key still works whenever you come back. Tangem creates that key inside the card's chip, where it stays, and a second identical card kept apart from the first is the whole backup plan, with a seed phrase only if you want one. Store a dormant deposit receipt behind something that does not degrade in a drawer, and coming back to it is uneventful.