I haven't write any about how I meet Bitcoin Cash so I am writing this one.
Way back 2018, I only heard about Bitcoin. At first, I thought Bitcoin is like gambling or the same as buying stocks in the market like forex trading. I didn't know that cryptocurrency is digital money wherein nobody has control of it, it does not involve banks and government. I didn't know if we buy Bitcoin it will just stay on the wallet floating in the blockchain network.
I only heard about Bitcoin because that year, the investment scheme is rampant. I've been scammed many times out of ignorance, those who regulate investment said that their source of funds for payout is buying and selling products, forex trading, and Bitcoin mining or trading. They said that Bitcoin is the top 1 cryptocurrency that they are good at trading it. I didn't do some research about it since those who refer the investment to me are my friends. Out of ignorance I dive in and get scammed many times, so trusting your acquaintance is not good especially if it involves money. You have to do your own research about the said investment before diving in. If the said investment has promising returns it is not true, there's no such thing as easy money.
I already saw the BTC, BCH, XRP, and ETH in coins.ph but I didn't about it at all. Coins.ph is the well-known crypto wallet exchanger in our country. We can easily convert our crypto coins to our fiat currency. When I started to read blogs about Bitcoin, I was amazed at how it works then I already had a little background about it. I started to buy a little Bitcoin and hold it. Every time the value of Bitcoin increases I converted it to our fiat currency which is the Php (Peso). I was amazed that my money increases a little, I like the idea because if you save it to the bank you will not get profit like that. I also know about ETH because of Million Money but I didn't get any returns because it is a networking style like Forsage.io using a decentralized cryptocurrency which is the ETH.
This is the time I am listing my little converted profit from Bitcoin. I was just holding a little amount of Bitcoin, although the amount was not that huge I was happy enough because I can't have those amounts if I put the money in my bank account. So I was really a newbie when it comes to the cryptocurrency world, I only started to explore on June 19, 2020, as you can see on the dates I listed above.
June 23, 2020
This is the day someone on Facebook who introduced me to this amazing site (Read.Cash) where I can earn BCH, that's the time I learned what is BCH. So basically, I know BCH or Bitcoin Cash through this site. As you can see from the date above, I started to convert little profit from my BCH payment here on read.cash on June 24, 2020, and onwards. Since the beginning of my read cash journey, I am holding my BCH and converts some profit every time the price value pumps up. I even focus on collecting BCH since then.
After how many days of staying the site I have read many different articles, especially about BCH. Upon reading what is BCH and how it works I was very amazed and started to love BCH even more. I always tried my best to understand BCH related articles so I can gain knowledge from it.
Bitcoin Cash is a cryptocurrency that is a fork from Bitcoin when supporters of large blocks dissatisfied with the activation of SegWit (Segregated Witnesses) forked the software on August 1, 2017. It is peer-to-peer electronic cash, it is decentralized money without a central bank or single administrator that can be sent from user to user without any intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called blockchain network.
Advantages why Bitcoin Cash is the true meaning of peer-to-peer electronic cash
Faster transactions - You don't have to wait longer to verify your Bitcoin Cash transactions.
BCH can handle more transactions per second- This means that more people can use BCH at the same time than they can with other coins increasing the size of blocks to between 8 MB and 32 MB, thereby enabling processing of more transactions per block. The average number of transactions per block on Bitcoin is between 1,000 and 1,500. The number of transactions on Bitcoin Cash’s blockchain during a stress test in Sept 2018 surged to 25,000 per block.
BCH a cheaper transaction fee- even if you send a big amount of BCH the transaction fees range $0.001-$0.08 only, compared to the gas fee of Bitcoin and Ethereum.
More Scalable - due to the fact that Bitcoin cash has larger blocks compare to Bitcoin and Ethereum it can handle many transactions and is more scalable than the other coins.
Now, within 3 months of stay in read. cash I have read various articles about BCH and I am happy that I have to know this amazing coin that has a greater advantage than other coins. And I believe it has a bright future ahead and deserves to have massive adoption in the long run.
Sources:
https://www.investopedia.com/terms/b/bitcoin-cash.asp
Disclaimer: If I happen to mention misinformation you can correct me. Thank you!
How about you how did you know Bitcoin Cash?
You can trade with bitcoin Cash in the same way as with Bitcoin. The advantage is that you do not lose any money on transaction fees. At BTC they are very high. The easiest way to trade in the bitcoin.com wallet is to exchange for stable coin such as USDT or USDH when the price is high and then buy BCH again when the BCH price falls. You can read more here:
https://support.bitcoin.com/en/articles/3954100-how-to-swap-between-cryptocurrencies-in-the-bitcoin-com-wallet