Bitcoin Cash is a peer-to-peer electronic cash system designed to fulfill the original promise of Bitcoin: sound money for all. Boasting low fees and lightning fast confirmation times, it powers one of the world’s most secure blockchains.
Investors can purchase Bitcoin Cash on cryptocurrency exchanges and store it in an electronic wallet. While its price has experienced some fluctuations over time, BCH remains in the top 30 cryptocurrency by market cap.
1. Fast Transactions
Bitcoin Cash stands out as the first cryptocurrency with fast transactions, offering lower transaction fees than traditional bank payments and being processed within minutes.
Like Bitcoin, BCH uses a blockchain proof of work system with miners running computers to verify and process transactions – something which requires significant energy usage as well as having an environmental impact.
Bitcoin Cash’s smaller block size allows it to provide faster and cheaper transactions than its parent currency, along with increased levels of scalability and privacy. As one of the most widely-held cryptocurrencies, it can easily be found across numerous exchanges; moreover, many online stores and gaming platforms accept it widely as well.
2. Low Fees
One key element that could determine Bitcoin Cash’s fate long term is its ability to compete against other cryptocurrencies. Bitcoin continues to outshone all rival cryptocurrencies due to its brand value, network effect and scarcity advantages.
BCH emerged following a hard fork of Bitcoin which took place in 2017 due to rising fees and slow processing speeds, giving rise to a new currency with larger blocks and improved transaction throughput.
Merchants that accept BCH can benefit from lower transaction fees than with traditional credit cards and enjoy fraud protection that does not involve automatic voids, refunds and chargebacks. Furthermore, there is only a limited supply of 21 million coins.
3. Privacy
Bitcoin Cash was developed out of a need for an accessible digital currency to democratise global payments more efficiently and reduce transaction fees and processing times associated with Bitcoin, both which had become problematic over time. Debuted in August 2017, BCH provided solutions for these issues – both of which had proven difficult with its predecessor currency, Bitcoin.
Developers increased the size of its blockchain to reduce transaction fees on its network – an advantage for merchants looking to accept cryptocurrency without incurring high transaction costs.
Bitcoin Cash shares many characteristics with its predecessors; its maximum supply is 21 million coins like its namesake cryptocurrency; this figure remains static unlike government printed money which continually depreciates, giving BCH sound money qualities and providing privacy with your private keys never being exposed to anyone unless you decide otherwise.
4. Token Backed Projects
On the cryptocurrency market, there are many asset-backed tokens; one of the most innovative projects is AABB Gold Token (AABBG). This exciting project marks a first in merging mining production and blockchain technology into an asset-backed token.
Asia Broadband Inc (OTC:AABB) has launched an energy token that is 100% backed by physical assets. Investors will be able to observe real-time energy data and analysis provided by their community power plant.
Bitcoin Cash emerged after a split within the Bitcoin developer community over concerns regarding scalability issues of its blockchain ledger. It offers more transactions per block with reduced transaction fees compared to BTC but remains less widely accepted and overlooked by potential new investors.
5. Scalability
Bitcoin Cash has quickly risen into one of the world’s 30 largest cryptocurrencies, yet is often disregarded as a profitable investment opportunity – only ever mentioned when discussing forks of the Bitcoin network.
BCH was formed following a hard fork of the Bitcoin blockchain in August 2017 to produce a more practical cryptocurrency that could serve as an exchange medium. This goal was accomplished by increasing block size, increasing transaction throughput and permitting lower fees on-chain.
While BCH may offer many advantages over traditional payment systems, its growth could still be hindered by obstacles – for instance a lack of adoption among users for its intended use.
