Bitcoin Cash – “Bitcoin’s brother”, a cryptocurrency was born not long ago and once surpassed Ethereum to take the No. 2 position in the world after Bitcoin. So what is Bitcoin Cash (BCH)? Why was it born? Where to create a wallet and buy and sell BCH Coin? Which exchange is safe and reputable? Should I Invest in Bitcoin Cash? Learn about this coin with I Love Bitcoin.
What is Bitcoin Cash (BCH)?
Bitcoin Cash (symbol: BCH) is a cryptocurrency born on August 1, 2017, after a hard fork from Bitcoin, to make it easier to understand, it uses Blockchain platform of Bitcoin but with some more advanced features. Bitcoin Cash was born with the purpose of overcoming the disadvantages of Bitcoin such as: Transaction speed, Security and scalability.
At the time of the hard fork anyone holding Bitcoin (BTC) will also receive Bitcoin Cash (BCH) at a 1:1 ratio. However, the wallet you store Bitcoin must hold Private Key, and the exchange wallet, that exchange must support the hard fork to receive BCH.
History of Bitcoin Cash coin?
At the time of mid-2017, a lot of controversy broke out over the issue of Bitcoin’s block size being too small compared to the daily transaction volume that the Blockchain system has to handle, the maximum limit is 1MB/Block or 3. transactions per second. After much debate, the Bitcoin community could not find a consensus and a group of developers Create Bitcoin Cash to overcome this problem of Bitcoin.
Bitcoin Cash has 3 superior features compared to Bitcoin:
- The first, Bitcoin Cash offers larger Block size with 8MB.
- Second, Bitcoin Cash provides replay protection and wipeout protection. The transaction signature is a bit different and the fork block must be larger than 1MB.
- Tuesday, Bitcoin Cash provides a way to adjust the Proof-Of-Work difficulty faster than the 2016 Block difficulty adjustment period found in Bitcoin.
Should you invest in Bitcoin Cash?
Present, Bitcoin Cash is still holding the 4th position on CoinMarketCap in terms of total capitalization and is a coin worth investing in. Most of the major exchanges in the world support BCH coin, besides reputable wallet firms such as Blockchain, CoinBase, .. Recently, Gavin Andresen – descendant of Satoshi Nakamoto, who was first selected to lead the Bitcoin software development team, also stated that “Bitcoin Cash is the real Bitcoin“. Many people believe that in the future”Bitcoin will pile up and Bitcoin Cash will take the place of Bitcoin“.
For me personally Bitcoin Cash cryptocurrency still a good long-term investment, but besides that you must have a reasonable investment strategy whenever the market fluctuates to preserve capital. However, the Crypto market is always risky and you must determine this in advance, I do not give investment advice, all decisions are up to you, be responsible for the investment amount and should only invest the amount that can be lost.
Some of you asked me if Bitcoin Cash can be mined, Bitcoin cash can be mined, okay? Bitcoin Cash Mining Also a way to invest.
The current Bitcoin Cash virtual currency rate?
At the time of writing this article price of 1 BCH = $520.58 USD, has fallen about eight times from its peak price of $4,000. The total market capitalization of BCH is $9,024,209,941 USD, the trading volume of the last 24 hours is $372,823,947 USD. You can see Bitcoin Cash Rates updated in real time by us to understand the price movements of Bitcoin Cash coins.
Buy and sell Bitcoin Cash at any exchange?
There are many international exchanges where you can buy and sell virtual currency Bitcoin Cash like: CoinEx exchange, Binance, Huobi Pro, Bittrex, BitForex, OKEx, HitBTC,..however, but this floor is only suitable for trading because you cannot buy with VND. If you have a need to buy/sell BCH coin, I would like to introduce to you Remitano floor – one of the most prestigious exchanges in Vietnam, I still use it every day. See instructions below:
Create a wallet to store BCH coin in which wallet is safe?
Currently, there are also many wallet services that support store BCH coin, both hardware wallets, online wallets, mobile wallets or software wallets. In which, with hardware wallets, there are Ledger, Trezor is the best, online wallet is available Blockchain and Coinbase, wallet on the phone, Blockchain also supports. I still use Blockchain wallet to store Bitcoin Cash very well and safely. You can see Instructions to create and use Bitcoin Cash wallet on Blockchain to know how to use it.
See more information about Bitcoin Cash at:
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