What is Bitcoin Cash?
Bitcoin Cash is a hard fork version of the popular Bitcoin cryptocurrency and was launched in August of 2017. Bitcoin Cash was created due to a Bitcoin scalability problem, meaning that the Bitcoin was having problems processing transactions due to bottlenecks on the Blockchain, which in turn led to much higher transaction fees.
The idea for the hard fork of the Bitcoin was initially announced by Bitmain and the name “Bitcoin Cash” was suggested by a Chinese mining pool known as ViaBTC. The goal of the hard fork was simply to increase the amount of transactions the ledger can process by increasing the block size significantly. In fact, the block size went from one megabyte to eight megabytes, eliminating some of the problems that the Bitcoin was facing at the time.
Development began on Bitcoin Cash and the initial protocol was revealed by Amaury “Deadal Nix” Séchet at the Future of Bitcoin conference. The project was known as Bitcoin ABC and would create the Bitcoin cash as we know it today. When it launched, Bitcoin Cash inherited the Bitcoin transaction history of that day and then became independent. The first Bitcoin Cash block was 478559 and users have been able to trade and mine Bitcoin cash ever since.
Bitcoin Cash is currently the 4th most valuable cryptocurrency in the world, having a coin value of around $1.200 and close to 17.000.000 coins in circulation. This creates a massive market cap of $20.000.000.000 at the time of this article (February 2018) and it is believed to grow even more, as the Bitcoin hard fork coins are becoming increasingly popular these days.
Unlike some other coins, Bitcoin Cash will have a limited supply of coins in circulation. The max supply has been set at 21.000.000 BCH and it will take a while before the rest of the coins are mined out. The support for the coin has been amazing in the community and we expect this coin to be one to look out for in the future.
What Can I Use It For?
Bitcoin Cash is basically the version of the Bitcoin, that we thought the Bitcoin was going to be. Bitcoin Cash was created in order to allow people to pay and transfer funds around the globe within seconds and without large fees, while still avoiding a traditional payment institution. While the Bitcoin could do this to a certain degree from the start, the massive pressure on the Blockchain caused high payment fees as well as long transaction times, making it useless for this purpose.
So basically, you can use Bitcoin Cash for all the things you can use the Bitcoin for. This means that there’s not a lot of limits in terms of what you can use them for. Some cryptocurrencies are created in order to support a Blockchain that can serve purposes in terms of data, others are created for the sole purpose of economical trading, but with Bitcoin Cash it is a bit different.
You can use it to purchase goods on many different online websites and physical stores around the world, now accepting Bitcoin Cash alongside Bitcoins. You can also invest in Bitcoin Cash or do day-trading with it, if you are looking at the cryptocurrency market in that way. You can even go into gambling sites and play with the funds if you prefer that instead. The sky is the limit and the opportunities just continue to grow as more and more businesses starts to integrate the smart version of the Bitcoin.
Finally you can also use the Bitcoin Cash to transfer funds to another person without having to pay massive fees and wait hours/days. Bitcoin Cash will transfer funds to another wallet within seconds/minutes and the fee for doing so will be relatively low. This allows you to transfer funds from Europe to Asia simple and easy and not have to worry about if the person has everything needed to receive the funding.
Trading Bitcoin Cash
If you are looking to purchase some Bitcoin Cash or looking to take advantage of its volatile nature and make some money, then look no further. We have gathered some of the best and most reliable places to purchase and trade Bitcoin cash in this article and you can also find other places in the footer menu. There’s a ton of companies offering these services, some more safe and reliable than others. We recommend the following places:
Trading Bitcoin Cash:
Binance: Binance is the world’s leading online cryptocurrency trading platform where you can find all the most popular cryptocurrencies up for trade. You can choose to pair the cryptocurrencies up against each other or you can trade against the U.S. Dollar value instead. Is is also possible to purchase cryptocurrency in Binance, if you are looking to get started with some coins.
Coinbase: Coinbase is the biggest and probably safest place to purchase your Bitcoin Cash. The site has been around since the dawn of the cryptocurrency era and has proven time and time again that it can withstand attacks and keep user funds safe. Here you can purchase a variety of cryptocurrencies and quickly transfer them to the wallet or trading site of your choice.
Playing with Bitcoin Cash
If you are the type that likes to gamble a bit with your cryptocurrencies, we have a few places that we can recommend you doing so with your Bitcoin Cash. It is important to find a place that has proof of winnings, so you can check that they do not scam you, as well as a place that handles cash outs in an orderly manner. We have searched the market and found some places that we believe are good and safe places to play, which you can read more about below:
LuckyGames: LuckyGames is a popular cryptocurrency casino sites, that offers a variety of games and an even wider variety of cryptocurrencies to play with. They offer Dice, Roulette and many other games that you can try your luck in and they provide easy deposit and cash outs. You can read more about LuckyGames here.
DuckDice: DuckDice is, as the name suggests, an online dice game site where you can try your luck. The site accepts Bitcoin Cash and offers easy deposits and cash outs for users, allowing you to easily cash out your winnings if you get lucky. You can read more about DuckDice here.