Bitcoin cash
Bch
Bitcoin Cash (BCH) is one of the most famous cryptocurrencies. It appeared on August 1, 2017 as a result of disagreements within the Bitcoin community regarding the scalability of the network. The main problem was the block size, which at that time was 1 megabyte. This limit limited the number of transactions that could be processed by the network per unit of time, which led to slower transactions and increased fees.
Part of the community proposed increasing the block size to increase the network throughput, but this proposal was resisted. As a result, a hard fork was carried out, during which bch was created with an increased block size of up to 8 megabytes.
What is Bitcoin Cash (BCH)?
Key Features:
- Unlike Bitcoin, where the block size is limited to 1 MB, in Bitcoin Cash this limit was increased, which allows processing more transactions per unit of time.
- Reduced fees make the cryptocurrency more attractive for everyday payments.
- It uses similar security protocols to Bitcoin, including the SHA-256 algorithm for mining and double-spend protection mechanisms.
Pros:
- Fast transactions;
- Low fees;
- Scalable.
Cons:
- The community division has led to polarized opinions and decreased trust in cryptocurrencies in general;
- Despite the improvements, it has not yet received the same widespread acceptance and support as the original Bitcoin;
- It faces competition from other cryptocurrencies offering scalability solutions.
BCH is a significant alternative to the original Bitcoin, aimed at improving scalability and reducing fees. Despite several challenges related to adoption and competition, it continues to develop and find its place in the cryptocurrency world.
Price chart and forecasts
The price of Bitcoin Cash has shown significant fluctuations over the past few years. After its initial release in 2017, the price of BCH rose rapidly, reaching its peak in December of the same year. However, since then, the price has experienced both rapid rises and falls several times
Predicting the future price is based on various analytical methods, including technical and fundamental analysis. Here are some possible scenarios:
- In the coming months, the price may increase by 10-20% due to positive news about the adoption of the cryptocurrency, improving technology, and an increase in the number of transactions on the network.
- During the year, price fluctuations in the range of 20-30% can be expected, due to the general state of the cryptocurrency market and changes in the regulatory environment.
- In the perspective of several years, the BCH price may increase by 50% or more if the network continues to develop.
Although it is difficult to predict the exact future of Bitcoin Cash, analysts expect it to remain an important cryptocurrency in the market, capable of demonstrating both significant growth and decline.
Countries with Bitcoin cash direction
What is Bitcoin Cash for?
One of the key goals of creating this crypto was to preserve the principle of "electronic money" proposed by Satoshi Nakamoto, the creator of Bitcoin.
Unlike Bitcoin, which has largely come to be perceived as “digital gold” and a store of value, the asset aims to remain a convenient means of payment for everyday use. This makes it attractive to users and entrepreneurs who want to use cryptocurrencies for instant and low-cost payments. Bitcoin Cash has its own features and improvements compared to the original Bitcoin. One such improvement is the use of a new mining difficulty algorithm, which allows for more flexible adjustment of the difficulty of creating new blocks. This ensures more stable block creation times and increases network security.
In addition, the bch community is actively working on implementing new technologies and improvements, such as smart contracts, which can expand the functionality of the network and make it more competitive.
How to buy, sell Bitcoin Cash? - methods
The most common way to buy Bitcoin Cash is to use cryptocurrency exchanges. Some of the most popular services include Binance, Coinbase, and Kraken. To get started, register, go through the verification process, and deposit funds into your account. After that, you can buy crypto with fiat money or other financial assets.
In some countries, there are ATMs that allow you to buy tokens for cash. Find the nearest ATM through special sites such as CoinATMRadar and follow the on-screen instructions to buy.
Platforms like LocalBitcoins and Paxful allow you to buy Bitcoin Cash directly from other users. This is convenient if you want to remain anonymous or use payment methods that are not available on exchanges.
Selling is as simple as buying. Transfer your coins to the exchange and place an order.
Some ATMs also support this feature. You will need to scan the QR code from your wallet and follow the on-screen instructions to receive your cash.
Bitcoin Cash offers fast and cheap transactions, making it an attractive option. Knowing how to buy and sell this cryptocurrency safely will help you take advantage of all its benefits.
Actual Bitcoin cash rates
What is the difference between Bitcoin Cash (BCH) and Bitcoin?
These two cryptocurrencies emerged after a hard fork in August 2017. The main difference is the block size: Bitcoin has a block size of 1 MB, while Bitcoin Cash has a block size of 8 MB, allowing BCH to process more transactions in less time.
BCH is positioned as a means of payment, while BTC is considered a store of value.
Technically, BCH has lower transaction fees and increased confirmation speeds, while BTC remains more popular and has a larger market cap and support.
Bitcoin Cash faces challenges in the form of competition and market adoption. The future of BCH will depend on its continued development and adoption by the cryptocurrency community.
Price of Bitcoin cash (BCH) in Real Time
The price of (BCH) against the dollar today is 489.72 $. The Ethereum coin can be exchanged in 14 countries and 27 cities worldwide. Currently, the site features 117 pairs for exchanging BCH for other electronic currencies.
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