Bitcoin Cash is a cryptocurrency forked from the original Bitcoin blockchain in 2017. Designed to accommodate more transactions per block than its counterpart, which should reduce transaction fees and processing times.
Coinbase uses the same Proof of Work consensus algorithm, but with an alternative mining algorithm. Furthermore, its maximum cap has been set at 21 million coins.
What is BCH?
Bitcoin Cash, built upon blockchain technology, serves as peer-to-peer electronic cash with minimal transaction fees and quick confirmation times for fast transfers at an economical cost.
Bitcoin Cash emerged as a hard fork from the Bitcoin blockchain in 2017 following a dispute over scalability issues with cryptocurrency. Supporters of this new coin wanted to increase block sizes on the chain to boost capacity while simultaneously decreasing transaction costs.
They were unable to come to an agreement about how best to upgrade Bitcoin software, so they forked the coin and created a separate blockchain with an increased block size limit (8 MB). Interestingly enough, this version didn’t implement SegWit which allows more transactions per block.
Bitcoin Cash emphasizes decentralization and censorship-resistance over transaction throughput. Furthermore, BCH features privacy functions like coin mixing to obscure the source of funds – which helps prevent tracking personal data via blockchain services.
How to buy BCH?
Purchase of BCH can be straightforward when using an accessible cryptocurrency exchange platform, allowing new investors to acquire and trade BCH easily.
First, to access the advanced interface, choose “Exchange” in the top menu of StormGain and then click on the “Advanced” button.
Once in the advanced interface, you can buy Bitcoin Cash instantly with a market order. Your newly acquired BCH will be ready for immediate spending or sending.
An alternative way of placing orders is placing limit orders. A limit order enables buyers to specify their desired price via the order book and is ideal for buyers looking to protect their investment with stop loss and take profit orders. Bitcoin Cash prices tend to follow those of its parent currency so investors should do their research first, conducting both technical and fundamental analysis prior to making any trading decisions.
Where can I buy BCH?
BCH (Bitcoin Cash) is an increasingly popular cryptocurrency available for purchase on various crypto exchanges worldwide and usually traded against the US Dollar.
StormGain or eToro offer user-friendly platforms with advanced tools for analyzing market data and calculating risk, making purchasing Bitcoin Cash simple.
An online broker provides the safest method of purchasing BCH, as it requires identity verification and valid credit/bank accounts or wallets. In addition, online brokers are subject to regulation by financial bodies that adhere to stringent rules in protecting client funds.
Alternative methods of purchasing Bitcoin Cash include direct purchases at crypto ATMs or by exchanging existing crypto assets on an exchange such as Kraken. Bitcoin Cash was born from a hard fork from its parent cryptocurrency Bitcoin and was designed to improve scalability, transaction speed and portability – making it accessible globally without time restrictions or geographic limits.
What is the price of BCH?
BCH is a cryptocurrency that was forked from Bitcoin in 2017 to accommodate larger block sizes that enable more transactions to be processed with lower fees, and facilitate fast peer-to-peer (P2P) digital payments between users. Furthermore, this cryptocurrency utilizes Proof-of-Work consensus method with a maximum token supply of 21 million coins.
BCH prices have experienced significant ups and downs over time but remain one of the 30 largest cryptocurrencies on the market. Crypto traders, investors, and experts closely track its potential.
Gov Capital is pessimistic on Bitcoin Cash and predicts it will fall below $17 by 2024, while Wallet Investor is even more pessimistic and sees its price tumbling below $20 within a year. Both entities note how BCH prices depend heavily on overall crypto market conditions and are therefore unpredictable and difficult to forecast.
