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20/10/2021

All about Bitcoin Cash

Bitcoin reigns supreme in the virtual currency market. The latter is the most widely used for crypto transactions. It is mainly used as an exchange currency for business transactions. 

What is Bitcoin Cash ?

A cryptocurrency for commercial use

Bitcoin cash is a crypto-currency intended for commercial use. Unlike Bitcoin, it doesn't really have a place in online financial transactions such as stock market investments for example. 

Unlike the original Bitcoin, this cryptocurrency claims a larger block size. While a transaction using simple Bitcoin requires 1MB, a transaction using Bitcoin cash requires 8MB. 

The world's 9th largest cryptocurrency

Bitcoin cash ranks 9th in the world's most used cryptocurrencies. The latter is ahead of many virtual currencies with low prices and mainly aimed at investing. 

Bitcoin cash price

Like most crypto-currencies, Bitcoin cash has seen a slight decline over the past year (2020). However, it’s gradually regaining its momentum. At last count, 1 Bitcoin is equal to 64.43 Bitcoin cash. 1 Euro on the other hand is equal to 0.001 9 Bitcoin cash. 

The history of Bitcoin cash

Bitcoin cash is among the newest virtual currencies. While the original version of Bitcoin was created in 2009, Bitcoin Cash only came into existence in 2014. The launch of Bitcoin Cash was primarily aimed at facilitating and accelerating business transactions. The crypto immediately met with tremendous success. Hundreds of transactions and exchanges per second were soon taking place.

How does Bitcoin cash work ? 

Bitcoin Cash uses the same blockchain system as Bitcoin. The transaction takes place in stages. Before reaching the final recipient, transactions first integrate the blockchain. You have to wait until there are enough nodes in the blockchain for the transaction to be accepted. 

Regardless of the type of transaction to be carried out, a transaction fee is payable.

Why was Bitcoin Cash created ?

Greater investment security 

With Bitcoin cash, you enjoy greater investment security. This applies both during trading and when managing your portfolio. 

Bitcoin cash also comes with a protection system that prevents replay. A reassuring point for users. 

A virtual currency ideal for commercial transactions

Bitcoin cash is the only virtual currency created solely for commercial transactions. This aspect allows you to save time in your transactions. You will need validation from the blockchain to confirm your purchases, but the waiting time is less.

Attractive transaction fees

The transaction fees for Bitcoin cash are very attractive on both trading platforms and e-commerce sites.

Price stability

The Bitcoin cash community is growing daily. The fluidity of the network has a lot to do with it. This specificity effectively ensures a certain stability of the price. The convenience of bitcoin cash also makes it very valuable in the eyes of its users. An increase in the price of this cryptocurrency is highly expected in the coming years.

A bright future according to the experts

According to experts, Bitcoin cash has a bright future. 

Bictoin cash is also among the most valued and stable generations of cryptocurrencies in the market. Betting in this virtual currency is thus a guarantee of security for your investments. 

How to buy Bitcoin Cash ?

Open an online wallet

To get started, you need to open a Bitcoin Cash wallet or wallet online. To do this, get a special USB stick or invest in a virtual wallet. Bitcoin cash trading platforms can help you create your wallet. 

Buying from private individuals 

The easiest and fastest way to buy Bitcoin cash is from individuals. Here, we are talking about investors who want to sell part or all of their portfolio. 

Buying on trading platforms

You can also do as usual and trade Bitcoin cash online. There are plenty of platforms that specialize in this sector. If you want to get an overview of the best platforms at the moment, go here

Accepting an exchange of Bitcoin cash for real currency

This is the most common method of obtaining Bitcoin cash. It consists of exchanging virtual currency for physical currency. Simple and fast! 

Getting into Bitcoin cash mining

Another alternative is to use Bitcoin cash mining. Warning: this approach is for experienced traders.

Mining Bitcoin Cash

Here are some clarifications that will help you better understand this procedure. 

What is Bitcoin cash mining ?

Bitcoin cash mining is about creating new tokens.

The term "mining" comes from "miner". Like gold miners, users search the blockchain for new Bitcoin Cash. To do this, they must solve complex mathematical calculations. 

Who can get into Bitcoin cash mining ? 

Nowadays, Bitcoin cash mining is for both professionals and individuals. Novices can practice creating new Bitcoin cash tokens by using cloud mining platforms. 

To mine, you will need a powerful computer and a solid knowledge of math.

Benefits of mining Bitcoin cash

Mining may seem difficult, yet it is the most efficient way to get new tokens on the market. Thanks to this procedure, the Bitcoin cash community can grow and remain active, keeping the price of this crypto stable. 

The transaction fees for Bitcoin cash are relatively affordable. In addition, you can acquire new Bitcoin cash tokens as a reward for computation work. 

What do you need to mine Bitcoin cash ? 

To get into mining, you will need the right equipment. A specific, high-performance computer is essential, as the procedure is particularly energy-intensive. Experts recommend ASIC equipment in particular, the best on the market according to them. 

In Bitcoin cash mining, hardware is often the problem. Not only do you need a powerful computer, but also powerful servers!

A good alternative  is to register on cloud mining platforms. This option is recommended for beginners. By opting for cloud mining, you can use your personal computer to get started. This saves you both exorbitant expenses and the setting up of a special computer room.

How to mine Bitcoin cash ? 

The process is the same as for other existing cryptocurrencies. The miner will have to solve mathematical formulas related to a Bitcoin cash blockchain. The calculations will be based on a SHA-256 algorithm. 

To make it easier for the novices, training is offered to help them understand how Bitcoin Cash mining works. These trainings ensure that they succeed in their move and earn tokens. 

Some mining platforms may also offer you the chance to invest in Bitcoin cash mining. 

In any case, once the blockhead calculations are solved, you will get new Bitcoin Cash tokens. You can then keep your tokens in your wallet, use them or share them with other users.

New to Bitcoin trading and crypto currency investing? There are experts out there who can offer a helping hand free of charge! Take a look at Yann's YouTube channel for free online training. 

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