Anywhere I look or check online, I see people talking about Bitcoin Cash.
What exactly is Cryptocurrency?
Cryptocurrency can be said to be a digital/virtual currency which is confidentially secured, which makes it almost impossible to be counterfeited.
Because cryptocurrencies are newly booming, I often hear various myths surrounding it.
It is very common for new products to confuse people, until they get familiar with it. But the rate at which people speak ill of cryptocurrency is quite alarming.
I'll be listing some of the myths that I've heard about cryptocurrencies in time past.
Cryptocurrency is mostly used by bad actors for illicit acts. I've even heard that it is a tool of kidnappers and extortionists, that they use it for their illegal acts.
Though here I'll like to say we have people who use Bitcoin for such bad act but we want instances whereby Bitcoin will be used to pay bills without restrictions.
Myth 1: Cryptocurrency transactions are basically for illegal activities.
Myth 2: People engage more in illegal activity using cryptocurrency than when they use cash.
Myth 3: Cryptocurrencies make it difficult for people's wrong acts to be investigated hence crime increases.
All these myths are widely spread and when I first heard about readcash, I didn't want to join when I heard I'll get paid in Bitcoin. Upon hearing this I decided to make my own research on Bitcoin Cash before venturing into it.
What then is SMARTBCH?
Upon reading about it on Google and in various articles that I've read on this platform, Smart Bitcoin Cash (smartBCH for short) is a sidechain for Bitcoin Cash and is aimed at exploring new ideas and unlocking great possibilities for the people.
SmartBCH got released just few months ago. Precisely on August 10th, the SmartBCH team made their first update and made what they were addressing known.
The SmartBCH market in these three months is showing a very positive signs as there is an increasing eager and enthusiastic community.
As expected, these SmartBCH team are highly working on making side-chain developments which would detect all the bugs that might want to affect its success.
Heavy security and corrective measures have been put in place before SmartBCH goes 100% to market and, the community also needs to play an important role as for absolute success of the project.
I see Bitcoin Cash going far in the market.
The future of Bitcoin Cash is bright and now like SmartBCH, it is even allows people from all over the world to interact with Ethereum network projects at a very low fee.
SmartBCH will unify people bringing them into the Bitcoin cash ecosystem, with Defi-related Ethereum applications, this will be a cross from Ethereum to BCH, and using SmartBCH Defi programs, a user first requirement is to acquire some BCH.
Facts about Cryptocurrencies
Cryptocurrency is easy to track because we already have searchable public databases (blockchains) in existence for the most of the transactions. It is a medium for a wide range of secure, trackable transactions.
There are many myths that exist in the minds of others who do not have proper knowledge about crypto. Only when they learn how it can change lives, then they will realize what an opportunity it offers :)