Bitcoin Cash, having forked off the original Bitcoin chain has maintained its characteristic as a digital currency for peer-to-peer transactions as long as Satoshi's Whitepaper for Bitcoin is concerned. Its open sourced feature has made it easy for developers to build upon it yielding vast use cases which with time will be a boost to the blockchain.
It is assumed that a technology is more effective if it fulfils a real use case because that, brings real users to it on daily basis which in turn creates real value to it. In this article, 5 use cases of Bitcoin cash will be listed.
Remittances
Utilizing Fiat Money as met real life restrictions and limitations due to its centralized nature compared to Digital money like Bitcoin Cash is is decentralized and tax-free.
Remitting with Bitcoin Cash is a relief from Border restrictions, Huge taxes for transacting, Third parties (Banks), Securities and lots more. The evolution of cashless transactions, borderless remittances has been pivoted by Bitcoin Cash from it's inception.
Today, one can easily remit Cash as Bitcoin Cash to anyone, anywhere in the world, either through a corresponding public key (wallet address) or through a link and vice versa.
Payment Solutions / Replacing Escrows
An Escrow is usually attributed to the involvement of a third party in a term legally or otherwise. Most times, this exposes users to some certain level of risk which may cost your entire money or probably some delays. Bitcoin Cash can be used as an alternative to exclude escrows where there's no need for trust.
Transacting with Bitcoin Cash requires no third party making the process more transparent and saves your money .
The Open sourced nature of Bitcoin Cash makes it easier for developers to build out of it, in this case payment solutions are being developed which is well-suited for solving the issues of the current global payment systems.
Money
Bitcoin Cash can also be used as a medium of exchange. Interestingly, it is more convenient to spend Bitcoin Cash due to its structure which allows faster transactions with minimal costs.
Recently, Bitcoin Cash have witnessed an increasing number of merchants across the Globe and with time, one will easily move to the next door store, purchase goods and pay with Bitcoin Cash.
Savings
The next generation of money is gradually becoming digital. Bitcoin Cash can be saved yielding profits even better than saving in the Banks.
One can easily convert fiat currency to a digital currency like Bitcoin Cash and lock it up in a safe wallet for years with private keys well reserved. In cryptocurrency terms is called "Hodling". Hodling digital currencies like Bitcoin Cash is profitable.
Decentralized Finance
Decentralized finance—DeFi—refers to the shift from traditional, centralized financial systems to peer-to-peer finance enabled by decentralized technologies. Bitcoin Cash features the ability to be utilized in the capacity of a decentralized financing system.
Within a couple of years, DeFi has brought radical changes in the financial world. Its performance is outrageous being compared to financial systems based on the legacy system in terms of efficiency and security. It’s true that there are some risks in DeFi but those within the manageable limits.
Tokenization
Tokenization is also one of the core uses of the Bitcoin Cash Blockchain which involves the creation, issuing and management of digital assets on a blockchain network.
Under the Simple Ledger Protocol (SLP) a lot of tokens have been created by individuals following an even easier process. Also, Non Fungible Tokens (NFTs) can be created through the process of tokenization.
I really love bitcoin cash it has a low network fee