"Your BCH address should be valid" error message when trying to withdraw BCH from Exscudo Exchange

An attempt to withdraw BCH fails returning Your BCH address should be valid error message when trying to withdraw via Withdrawal option = BCH (that is, to an external wallet, as opposed to Withdrawal option = EON Color Coin: BCH, that is to an EON wallet of Exscudo ecosystem).

This article explains the cause, and provides the solution.

Cause

When Bitcoin Cash (BCH) was forked from Bitcoin (BTC), it shared the same address format. In an effort to alleviate any confusion for users of both digital currencies, BCH developers later introduced a unique format for BCH addresses called CashAddr, naming the original BTC-based format as Legacy.

On Exscudo Exchange, we only allow CashAddr format to be used, in order to protect users' assets from being sent to BTC blockchain.

Solution

Legacy and CashAddr formats are compatible in a way that allows Legacy IDs to be converted to CashAddr IDs.

The solution is therefore to convert a Legacy ID. One can use a dedicated web service, e,g,

To convert, paste the address in Legacy format, and you will instantly see it in CashAddr format.

The CashAddr ID is supposed to have the bitcoincash: prefix. However the prefix may not be added automatically by specific converters.

Then, copy the converted address, add bitcoincash: before it (if the converter used does not add the prefix automatically) and paste to WIthdrawal address field of the respective interface of Exscudo Exchange.

RESULT

No error is displayed, while the Submit button is active indicating that there is no obstacle to initiate the transaction.