Bitcoin Cash provides fast, inexpensive, and secure payments that provide greater privacy than credit card payments and is backed by an infinite supply of 21 million coins.
Proponents claim Bitcoin Cash fulfills Satoshi Nakamoto’s original vision for a peer-to-peer electronic cash system; however, due to price volatility and market fluctuations it remains an unpredictable investment asset.
What is BCH?
Bitcoin Cash was formed following a hard fork of the original Bitcoin blockchain in 2017, in response to issues associated with its scalability and high transaction fees. As it serves as a peer-to-peer electronic cash system with fast transactions at minimal transaction fees.
Satoshi Nakamoto originally envisioned decentralized currencies to fulfil his original vision, yet their price growth is curtailed due to limited merchant adoption and due to BCH’s larger block size requiring increased storage and auditing costs on the network.
CashFusion privacy solution ensures all transactions on the network remain difficult to track, which should prevent large amount transactions from becoming visible to third-parties. When sending or receiving large sums, only send or receive them to trusted addresses that you own or that are fully owned by you or that are completely trusted – use Ledger or Trezor hardware wallets when possible to keep your coins safe from prying eyes.
How does BCH work?
Bitcoin Cash was launched as a fork of Bitcoin on August 1, 2017. The fork stemmed from ongoing debate within the crypto community regarding scaling of its blockchain.
Bitcoin Cash uses an encrypted protocol called CashFusion to ensure transaction security and privacy. Miners using powerful computers verify transactions that are verified through this blockchain ledger, with miners being rewarded in cryptocurrency for their work.
Trading BCH involves buying and selling it on cryptocurrency exchanges or depositing it to an online wallet. BCH boasts lower transfer fees than Bitcoin and thus may be suitable for transactions that would otherwise be expensive with Bitcoin. However, because BCH can experience drastic price swings it should only be traded after careful consideration is taken before investing; for more information please read Investopedia’s Risk Warning and Disclaimer document.
Where can I buy BCH?
If you want to purchase Bitcoin Cash, there are various methods you can take. One method is using a cryptocurrency exchange; such an exchange allows users to deposit fiat currency such as US dollars in order to buy various cryptocurrencies including BCH.
Another method of purchasing BCH is peer-to-peer (P2P) trading, usually through cryptocurrency marketplaces like Changelly that provide both buyers and sellers with services designed to facilitate and safeguard P2P trading transactions.
BCH can also be purchased via cryptocurrency exchanges, providing another means of diversifying one’s portfolio. Be sure to store it safely; Cointelegraph recommends hardware wallets for this purpose as they offer superior protection while being easy to set up – see our guide for more details!
How can I sell BCH?
People selling BCH could do so for any number of reasons. From holding them as investments for long-term gains to needing quick cash due to high volatility of these assets, sometimes circumstances force you into doing so.
Coinhouse makes selling BCH simple, safe, and fast via bank transfer – giving you access to quick funds within minutes!
CFDs can also be used to trade Bitcoin Cash, either long (by betting that its price will increase) or short (speculating that its price will decrease). Trading with CFDs entails greater risks in terms of capital loss; so ensure you understand all associated costs prior to beginning any CFD trades.
As it’s also possible to purchase Bitcoin Cash directly with credit cards through most platforms that bridge the cryptoverse and fiat world, buying platforms that enable people to directly purchase BCH without first purchasing BTC or ETH are uncommon.
