Bitcoin Cash (BCH) is one of the 30 largest cryptocurrencies, yet often overlooked as a profitable investment opportunity. BCH was created as a hard fork of its original Bitcoin counterpart to enable more transactions to be processed per block and thus boost performance and transaction volumes.
Digital Coin Price has projected that Bitcoin Cash will double in value within one year, while Wallet Investor is pessimistic about BCH in the short-term.
What is Bitcoin Cash?
Bitcoin Cash is an alternative cryptocurrency created through a hard fork of the original Bitcoin blockchain on August 1, 2017 that many believe fulfills Bitcoin’s original intent as peer-to-peer electronic cash.
Bitcoin cash provides low fees and fast transactions that settle almost instantaneously regardless of location, making it ideal for individuals and businesses seeking an effective form of exchange that’s decentralized and transparent.
As well, Bitcoin Cash powers CashTokens – tokens that enable developers to build smart contracts and dApps directly onto its network – enabling on-network smart contracts and dApps. As with all cryptocurrencies, Bitcoin Cash is subject to value fluctuations and market cycles; however it has seen less volatility since its launch than its counterpart Bitcoin – making it an excellent long-term investment option with high potential returns; however investors must remain wary that it remains an unstable asset and proceed accordingly.
How is it different from Bitcoin?
Both Bitcoin and Bitcoin Cash share many similarities, such as an equal supply cap of 21 million coins and running on a proof-of-work consensus mechanism where miners compete to add blocks and verify transactions. But their differences can be easily noticed through differences in block sizes and transaction fees.
The main distinction lies in their respective approaches to scaling. Bitcoin itself has struggled to scale effectively, leading to offshoots such as Bitcoin Cash emerging.
Bitcoin Cash addresses scaling issues by increasing its blockchain size and permitting more transactions to be added at once, thus speeding processing times and lowering transaction fees while at the same time sacrificing some of bitcoin’s decentralization and security benefits. While its core developers continue to work towards making Bitcoin more scalable by supporting smart contracts and dApps, BCH may serve as an efficient alternative for rapid transactions with reduced fees.
Where can I buy BCH?
Buy Bitcoin Cash using cash: Either for quick payments to friends abroad or as an investment opportunity! There are various methods you can utilize when it comes to buying this revolutionary technology: cryptocurrency exchange platforms, peer-to-peer marketplaces and crypto brokers all provide direct purchases of BCH for cash purchases.
One popular method for purchasing Bitcoin Cash (BCH) is through cryptocurrency ATM machines. While these machines provide an easy and user-friendly process that requires no prior crypto knowledge or experience to purchase BCH, they often charge high service fees and their prices may not always reflect market prices.
Changelly offers a user-friendly cryptocurrency exchange app and fast transaction speeds to make purchasing BCH simple. Simply select how much BCH you would like to purchase, enter your wallet address (make sure it’s correct), complete your payment using either VISA or Mastercard card payments and your BCH will automatically be delivered into your wallet address.
How can I trade BCH?
If you own BCH and want to exchange it for another cryptocurrency or real money, a wallet is needed in which to store them. A wallet consists of two components – a private key and public address. Only those possessing access rights for that specific private key can gain entry to their coins.
When buying BCH, there are two forms of orders you can utilize to do so: limit and market orders. A limit order enables you to specify both the number of tokens and price per coin that are acceptable; closer your limit order comes to matching the minimum asking price, the greater its chance of fulfillment will be.
Bitcoin Cash’s value is determined by market sentiment. Positive news can increase demand, driving prices up. Conversely, negative reports about security breaches or hard forks in its blockchain can have the opposite effect and cause its value to decrease significantly.
