BCH/USD (-0.82%)
This cryptocurrency was created as a hard fork from Bitcoin (BTC). Put simply, that means some developers split from the original blockchain's code. It was developed in 2017, mainly because of the increased transaction costs and lower transfer speeds of Bitcoin. The BCH coin uses the Bitcoin Cash blockchain and is currently the most popular coin forked from Bitcoin. It consistently ranks among the top 30 cryptocurrencies by overall market cap. A famous crypto guru known as Roger Ver has stated that this altcoin is the 'true Bitcoin' as it can be used for peer-to-peer payments as was originally intended.
A Bit About Bitcoin Cash
As one of the most important cryptocurrencies, Bitcoin Cash is available in all major exchanges. The cryptocurrency is among the top 15 most traded, and this shows how much interest the coin has generated. BCH has a block size of 32 MB and a block time of 10 minutes. It adjusts the mining difficulty every 600 seconds. Like Bitcoin, it has limited its supply to 21 million coins, and the current circulating supply is about 18.5 million.
Bitcoin Cash is fast, totally decentralized, created for peer-to-peer electronic paymentsCryptoLists.com
It is not clear who created this cryptocurrency, but a few people have been vocal about their support of the project. One of the main proponents is Roger Ver, who was among the earliest investors in Bitcoin. The coin is meant to be used for daily peer-to-peer transactions. As per Satoshi’s vision, the cryptocurrency is highly decentralized and is not controlled by any bank or financial institution. With low transaction fees and high transfer speeds, the altcoin can be used as any other currency.
Utility of Bitcoin Cash?
Bitcoin (BTC) was initially developed to be a decentralized peer-to-peer payment system, but its increased transaction costs and slow payments have made it hard to use as a currency. People now mostly use the forked Bitcoin Cash (BCH) cryptocurrency to make payments as it has larger block sizes. As one of the best payment systems today, people also hold the cryptocurrency as an investment. Its developers have also added smart contract functionality to the network.
Bitcoin Cash Price details
›› BCH tokenomics and social media
Advantages of Bitcoin Cash
+ Its fees are lower than those of Bitcoin.+ It can be used for advanced smart contracts.
+ Bitcoin cash transactions are processed fast.
+ Its whitepaper is modeled after that of the original BTC.
+ It is available on top crypto exchanges.
Disadvantages
- Security could be compromised with larger block sizes.- Does not have the SegWit upgrade.
- Still has fairly low adoption levels.
- Has to compete with BTC and BSV.
- Lower liquidity that coins like ETH and BTC.
Costs
▪ Rated at 10/10As noted earlier, one reason why this coin was forked from the original Bitcoin is because of the transfer fees. This new cryptocurrency has a much lower transfer cost, which averages at about $0.0056. This translates to around 0.000000025 BCH/byte.
Reputation and Buzz
▪ Reputation rated at 9/10▪ Buzz rated at 9/10
When this cryptocurrency was created in 2017, there was a lot of drama among the developers and crypto investors. Later in 2018, a fall out emerged between the creators of Bitcoin Cash, and this resulted in the development of Bitcoin SV(BSV)Bitcoin SV (BSV). Since then, it has been one of the cryptocurrencies that are discussed heavily online.
The official Twitter account of the coin is known as https://twitter.com/bitcoincashorg, and has about 9,000 followers. A lot of discussions around the altcoin also take place on the subreddit r/Bitcoincash, as well as the Telegram channel https://t.me/bchchannel.
FAQ
What is the difference between Bitcoin Cash and BTC?
The main difference between these two cryptocurrencies is in the block sizes. With the newer Bitcoin Cash (BCH), payments are processed faster, and transfer costs are lower.
How does BCH and BSV compare?
BSV was created as a hard fork from Bitcoin Cash, and one of the key concerns of the developers was the block size. BSV has larger block sizes and claims to be interested in following the vision of Satoshi Nakamoto.
Who created this cryptocurrency?
Since it was forked from the original Bitcoin, it can be claimed that the coin was developed by Satoshi Nakamoto. At the moment, there is no information on the actual developers who forked the coin from Bitcoin.
Were Roger Ver and Craig Wright involved in forking the cryptocurrency from Bitcoin?
No, while these two have been vocal proponents of cryptocurrencies, there is no evidence that they were involved in forking the coin from Bitcoin. The developers are all anonymous.
Where can I buy this cryptocurrency?
As one of the most important cryptocurrencies in the world, it is listed on almost all crypto exchanges. Some sites may allow you to buy it with fiat currencies, but most will require you to first purchase BTC and exchange it for the newer cryptocurrency.
History of Bitcoin Cash
Q2, 2017 - Bitcoin (BTC) was starting to lose its huge advantage over other cryptocurrencies. The dominance shrunk from 95% to around 40% and the future was unclear. Bitcoin had become rather slow and expensive.
1st of August, 2017 - Bitcoin Cash (BCH) goes live after a hard fork from the original Bitcoin blockchain.
2018 - Bitcoin Satoshi Vision (BSV) forked from Bitcoin Cash and Bitcoin Cash became Bitcoin Cash ABC (BCHA).
March, 2019 - Bitcoin Cash was promoted as Peer-to-Peer Electronic Cash, enabling new economies with low fee micro-transactions, large business transactions, and permissionless spending.
July 2021 BCH changed their logo to the color green to properly distinguish themselves from the original Bitcoin orange.
Screenshots from Bitcoin Cash
More sites where to buy/sell/trade Bitcoin Cash
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this coin. Click on the logo to read our review.
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