Bitcoin Cash is a fork of Bitcoin which allows more transactions per block and lower transaction fees, similar to its parent. Furthermore, like its parent currency it enables peer-to-peer transactions that are resistant to censorship.
BCH can be used for online payments and purchases at cryptocurrency ATMs, while its blockchain is fully public allowing all transactions to be seen on block explorers.
What is BCH?
Bitcoin Cash is a cryptocurrency created after splitting off from the main bitcoin blockchain in 2017. While offering many of the same advantages as its parent cryptocurrency, Bitcoin Cash can process more transactions per block with lower transfer fees and has faster transaction processing speeds.
BCH can be used to make digital payments directly without the involvement of third-parties such as banks. This enables quick and cheap transactions recorded immutably on-chain. Furthermore, its decentralized nature protects against government intervention as assets cannot be frozen or seized in this manner.
Keep in mind that cryptocurrency investments can be highly risky. Only invest in funds you can afford to lose, and store BCH only accessible by you – either on an exchange or with a secure hardware wallet such as Ledger.
How to buy BCH?
Many cryptocurrency enthusiasts purchase Bitcoin Cash and similar tokens as an investment vehicle, with hopes that its price will appreciate over time, yielding profits when sold. As there are various options for buying BCH on exchange platforms, it is vital that investors choose one with reliable fees and security provisions in place.
Peer-to-peer services provide another method of purchasing Bitcoin Cash quickly and easily, connecting you with someone selling their tokens in exchange for cash. Although this option tends to be more costly than exchange trading, it could be ideal if you want a quick way to purchase BCH quickly.
Once you have purchased BCH, it’s essential to store it safely. There are a range of wallet options available such as mobile and web-based apps as well as hardware devices like Trezor and BitBox; just make sure yours is secure with an offsite backup copy of your private key in case anything goes amiss with it.
How to sell BCH?
If you have invested in BCH and now wish to sell some of your holdings, Coinhouse makes this process quick and effortless.
Once your sell order is executed, your funds should arrive quickly in your cryptocurrency wallet of choice. To complete it, enter your selling price (per token) and select either market or limit order options.
Market orders are filled by matching supply and demand on order books, which means they may settle at prices lower than what was last traded, especially during periods of high volatility and reduced liquidity.
Limit orders, on the other hand, can be tailored specifically to your order specifications. Here, you set your maximum price and specify how many BCH tokens you wish to sell – this way avoiding unprofitable trades altogether! Additionally, connecting your bank account can provide extra security during transactions.
