What You Should Do With Bitcoin Cash?

63 226
Avatar for Eybyoung
3 years ago

Seeing the numbers of newbies on both platforms (read& noise) are rising, I am pretty sure some of them are not aware of what they should do with their Bitcoin Cash. Mostly newbies convert their Bitcoin Cash with fiat (local currency) immediately once it reached their wallets, that's normal because that's what I also did when I was a newbie too back then.

Without them knowing that having Bitcoin Cash especially if you have accumulated it from read and noise, there are some things to consider on what you should do with it. But if the person is in need like they needed to put something on the table then selling BCH into fiat directly, is okay.

What you should do with BCH then?

Do you know that mostly BCH enthusiast usually does this? Accumulate, hold, spend and replace. These four factors have a significant effect on Bitcoin Cash and I'll explain them one by one.

✓Accumulate

Image Source: fun-japan.jp (before edit)

This is where you get your BCH and put it in your wallet. You can accumulate BCH from read.cash and noise. cash if you don't have money to buy it or if you don't want to spend from your pocket in acquiring it.

If you don't want to invest your time to have BCH by writing articles and short posts, you can buy it to any exchanger using your own money.

Why you should accumulate BCH? Well, BCH is a good coin to invest in, it has solid fundamentals that guarantee its bright future in the long run.

If you are fortunate to live in countries that some merchants already adopted it as payment, you can buy goods and services with your Bitcoin Cash. It's a cashless and peer-to-peer transaction.

✓Hodl

Image Source: financebuzz.com (before edit)

This term hodl is the phase where we called it “investment” if you think BCH is a good investment, you can hodl it for long-term or short-term purposes. You can buy it during the dip, and sell it when your price target was achieved.

If you accumulated it via noise and read then just hold it and wait for the price value increase, that's the term “hodl” applies.

Bitcoin Cash has also this characteristics  “store of value” because of its utility case which is the peer-to-peer electronic cash with low cost of fees and fast transactions. The more people will utilize it, the more the demand is increasing then the price value per coin will increase.

Bitcoin Cash only has 21 million of supply just like Bitcoin, when the massive adoption worldwide will happen the law of supply and demand will be applied wherein when there is higher demand the price value increases as it has limited supply.

Many Bitcoin Cash enthusiast have great insights and faith with BCH and number one of it is the funder of this site Sir Marc Demesel as he invested on both platform as he saw great potential of BCH, so why don't you believe in it as well that it is a good investment?

✓Spend

Image Source: Unsplash (before edit)

Bitcoin Cash aims to be the future digital cash, wherein it should be used like how we used  “cash” and by that, it should be spent.

If you need money, never hesitate to spend your BCH. It's a coin that sounds like “money”, and it is meant to be spent if it is needed unlike Bitcoin, wherein people only hold it. Isn't it useless to hold a coin forever without using it right?

That is why it is called as “cryptocurrency”, it has “currency” because it should sound as money and money are meant to be spent.

Think it like your “savings in your own bank” that you can used for emergency purposes.

✓Replace

Image Source: iconexperience.com (before edit)

After you spent your BCH make sure to replace it, that's how it should be. Replace in a sense you'll get back to the accumulation phase to replace what you've already spent, and the cycles repeat.

It is important to replace what you've spent because Bitcoin Cash will surely go to the moon or space sooner, would you like to miss the ride going to the moon and have the chance to be financially stable? If not then make sure to replace what you've spent.

Why there is the need to follow those factors?

It is needed if you believe in Bitcoin Cash because that's what makes the BCH network alive, without the people who are accumulating, holding, spending, and replacing it the network will no longer run as it did not serve its purpose.

Why not just sell it into fiat immediately?

If you are only accumulating via read and noise, or even those traders when the majority will sell their BCH right after they bought they can't have a good profit, not just that if massive selling of the coins happens the price will fall.

That is why if you receive tips from read. cash and noise. cash, do not sell it immediately, hold it for a while, and just set a day when are you going to sell it if you needed money.

What can you do to help BCH?

Onboard new users at read and noise

  • You can help BCH grow by onboarding new users at read and noise. When there are new users, a new BCH wallet address will be made and that can add to a new active wallet address.

Onboard New BCH Merchant adopters

  • If you have a business or someone you know had a business you can help BCH by onboarding them as merchants to accept BCH as payment.

Help add a transaction in the Bitcoin Cash blockchain

  • If you have read. cash or noise.cash you can also help BCH by adding transactions to the blockchain. You can do that by moving BCH from your wallet to other wallets, that's the “tipping”. You tip others and don't just hold everything in your wallet, at least contribute a little by making new transactions.

  • That's how BCH works, it can do micro transactions. Don't let it all sleep in your wallet. This is the reason why the “QR Tip Challenge” in noise.cash happened.

  • You can also lower your “minimum payout” at noise the lower the minimum you can create more transactions if your tips are good.

Related Article:

Is It Wrong To Think Bitcoin Cash As An Invest?

Closing Thoughts

That's it, that's what you should do with BCH. For newbies, I hope you learn something. Let's make Bitcoin Cash happens.

Accumulate, hold, spend and replace, and let the cycles repeat. That's the purpose of Bitcoin Cash!

Note: This is all my learnings, and I didn't have source in writing this. Just to clarify things.

Already checked by plagiarism checker: Duplichecker & 1 Text.com

Thank you for reading!

All images edited via Canva App

Date Published: July 28, 2021

43
$ 17.33
$ 14.61 from @TheRandomRewarder
$ 1.00 from @SimonBruzzi
$ 0.25 from @Panky
+ 23
Sponsors of Eybyoung
empty
empty
Avatar for Eybyoung
3 years ago

Comments

Good advice. I am a newbie in these dot-cash platforms. Nevertheless, I am a technology practitioner and understand the technologies of cryptocurrencies. I have a brief question: Do you think the price of cryptocurrencies will continue to rise?

$ 0.00
2 years ago

Oo nga tama, try ko nga din yan pag my extra akong earning para di lahat e convert to fiat lahat mag tira din.. Hopefully soon we will have merchants that will accept this kind of payments💪👍

$ 0.00
3 years ago

I just hodl whatever I get from tips.

$ 0.00
3 years ago

It is a good publication using very simple language to be understood by all. Thank you for sharing it.

$ 0.02
3 years ago

Thank you, I made it simple as much as possible to be understood easily by newbies.

$ 0.00
3 years ago

great article.. so far, I had spent and hold.. i will try the replace soon.

by the way, is it necessary to add plagiarism check on every article?

$ 0.02
3 years ago

It depends on you, I just check mine to avoid any conflict about plagiarism

$ 0.00
3 years ago

Okay sis.. thanks

$ 0.00
3 years ago

Thank you very much for this nice piece. What i do before is to send $1 every night to my trust wallet. At the end of the month it will be $30, or even more than that according to the market. I spend that.

$ 0.02
3 years ago

I have a personal goal that includes my earnings here but when I reach that (just $10), which is soon, I will start giving tips. :) Earn, spend, replace, repeat :)

$ 0.02
3 years ago

Nice article, spend part is dead on. CryptoCurrency is meant to be used as a currency and should be used as such. "Isn't it useless to hold a coin forever without using it right?" Target on BTC maxis

$ 0.03
3 years ago

Yeah, and I am just stating the truth regarding BTC right?

$ 0.00
3 years ago

Absolutely

$ 0.00
3 years ago

Yay to this, kaka withdraw ko lang kanina at ayan na, grind grind naman ulit para may pampalit 💙. Ganyan naman talaga ang purpose ni BCH kaya wag kang mahihiyang magtanong, kung may ritemed ba nito! Ay chorr wahahaha. Para sa paglago ni Bitcoincash 💪💪💪💥😍

$ 0.00
3 years ago

Salamat baa artikol na Ito. Medyo gumaan pakiramdam ko sa pag spend ko ng bch ko for my husband's eye. Replace nalang ulit.

$ 0.00
User's avatar Yen
3 years ago

Noted po 🙂 For now, wala pa kong ini-spend. Gusto kong mag hold kahit paunti unti lang as in barya , hehe. Dahil sobrang liit pa naman, iisipin ko lang muna na ito ay alkansya. Salamat sa mga suggestions po.

$ 0.00
3 years ago

I hope my spending can wait 😅

$ 0.00
3 years ago

Oh, this is how it should be having BCH. Thanks for the information, great help for new ones like me.

$ 0.00
3 years ago

Yeah, this will help new users. But some new users are more advance than we think they are.

Anyway, nice article keep on spreading the bch awareness.

$ 0.00
3 years ago

Yes po nung una kada pasok sa bch ko nililipat ko agad sa local currency but when I read about the hodl pag need ko nalang sya sinisell pag di naman masyado kailangan hodl muna. Tama ka po bch is a good investment lalo na pag tumaas pa value neto. I also introduce noise.cash and readcash to my friends and some of them already created an account :) sana magtuloy tuloy sila at wag muna basta mag give up. Thanks for this po.

$ 0.03
3 years ago

jusko miss eyb ang hirap talaga mag hodl haha! pero salamat dito, i learned a lot in the cycle. this was explain very clearly kaya kuhang kuha ko na. salamat po ulit.

$ 0.02
3 years ago

Napakahirap kaya mag hodl ng BCH lalo na sa panahon ngayon na ilang beses lng ang trabaho ko sa isang linggo haha. Kadalasan spend talaga bch ko. Pambayad sa mga bayarin. Kahit na nga puhonan ko sa juungle eh nagagamit ko pa.

$ 0.02
3 years ago

Okay lang yan sabi ko nga sa unahan nang article kung need talaga din di nmn problema e spend BCH.

$ 0.00
3 years ago

Yeah. Actually you hit the spot.

$ 0.00
3 years ago

That's it, that's what you should do with BCH. For newbies, I hope you learn something. Let's make Bitcoin Cash happens.

$ 0.00
3 years ago

Copying from my post! Do you want to be reported?

$ 0.01
3 years ago

lol what a bummer

$ 0.00
3 years ago

Hahaha, let's scare a spammer 🤣

$ 0.00
3 years ago

natawa ako dito sobra, sis. muntik ko lang nabitawan kape ko lol

$ 0.00
3 years ago

I believe on Hodl Theory. Earn more and secure for your better future. Your article is full of information. I shared it noise cash, if you allowed me.

$ 0.03
3 years ago

Thank you Eyb! I will keep this in mind.. and share of course haha

$ 0.02
3 years ago

Hehe thank you, just share it especially to your friends who doesn't know about this yet.

$ 0.00
3 years ago

Hodl bch isn't that easy for me since am jobless that what still rescue me recently in paying my house rent. Once I get a better job I will invest a lot into bch and give it a break of 5yrs at least

$ 0.05
3 years ago

Wow, I am glad BCH helps you a lot by any means and there's nothing wrong with what you do, just like I said in the beginning if a person is really in need then spending it right away is very okay. Keep going, I hope you find better job soon ☺️

$ 0.00
3 years ago

Pa share sa FB. Hehe. Para sa group ko.

$ 0.01
3 years ago

Hehe sure, go ahead ☺️

$ 0.00
3 years ago

I'm in 2 months already in this platform and being engage to BCH, but still, I need to know more about it. Ang hirap kung sana'y ka sa puro gasta-gasta nalang pagkatapos ma.gain yung BCH both from noise and read.cash, especially na sa'kin na naninibago pa din hanggang ngayon, yung maiimagine mo na, "Wow!, nagkaroon ako nang ganito dahil dito".. Hindi pa rin ako makapaniwala eh'..

Hmmm..so ngayon, I need to really convince myself na mag.HODL na hihi..😅

$ 0.03
3 years ago

Yes, hold para sa future mamsh 😁

$ 0.00
3 years ago

Hold kung makakaya po..hahaha😅 Birthday pa naman ni mama this coming Saturday.. hayys sana'y bumalik na ang lahat sa dati..😌😅

$ 0.00
3 years ago

Months na since nakilala ko si BCH and to be honest, nangagapa padin ako dito. Anyways, thank youu po dito article. Nung newbie padin ako, convert agad into fiat yung ginagawa ko. Pero hindi na ngayon.

$ 0.02
3 years ago

Yes, hold it for a while before spending. Makaka gain ka pa pag tumaas ang price pag bumaba nmn don't worry it will up again.

$ 0.00
3 years ago

This is a great article and I agree with every point you raised here. Bitcoin cash is a good coin with good fundamentals and the future is very bright. Everyone should accumulate enough of it now that it's cheap and affordable. Thanks for this article

$ 0.03
3 years ago

Yeah, if they don't like to miss the opportunity like what happens to Bitcoin

$ 0.00
3 years ago

Spending" is what hodlers are afraid of... They need to aware that spending is ok.

$ 0.02
3 years ago

Yeah, haha did you spend some of your BCH?

$ 0.00
3 years ago

Thank you for this ma'am. May naintindihan at natutunan ako ngayon about sa kalakaran ng BCH. Hindi ko kasi alam kung ano ibig sabihin ng HODL noon.😁 Salamat at naexplain nyo ng maayos para sa tulad kong baguhan.😊

$ 0.03
3 years ago

Haha wag na maam, I am not a teacher 😂 Anyway, yeah that's the purpose of hodl, glad you've learned something.

$ 0.00
3 years ago

Hihihi.ok po..thank you po ulit😊

$ 0.00
3 years ago

I have yet to see stores here receiving bch. I wanted to transact using bch directly without having to convert.

Regarding tipping, I find it odd that in a month I have been able to reach top 10 tippers. It makes me want to think not all are giving tips or am I wrong? I hope others will realize how important it is to give tips because of what you have stated above.

$ 0.03
3 years ago

The tippers list only covers the 30 days, wherein everyday the tip size changes as days goes by. So it's not surprising when you reach the top if within 30 days you are continuesly doing it.

Just like me last month I belong to the top 10 but now I am below 50 it's because I give tips in one go in one day and when that day already passed 30 days you'll be out on top as it only cover the past 30 days.

So basically some are giving but majority actually is not.

$ 0.01
3 years ago

I just realized that now lol! Let's see what the next 30 days will bring :)

$ 0.00
3 years ago

This is worth sharing especially in noise. Thanks eyb!

$ 0.02
3 years ago

Thank you for sharing it, just share little awareness how BCH works.

$ 0.00
3 years ago

Yep.. sayang kasi kung nde alam nung iba how they can maximize the use of bch 😊

$ 0.00
3 years ago

Kaya nga, it would be great kung lahat tayo alam yan para BCH lang sakalam 😂

$ 0.00
3 years ago

That's what I'm doing po..aquire. . spend..and replenish....Medyo hindi muna sa spend hanggang makaaccumulate ng atleast 1 bch.😊thank you for this very informative article po

$ 0.02
3 years ago

Okay lang yan, accumulate and hold first if you have enough you can spend especially when you need it.

$ 0.00
3 years ago

Bago na banner ngayonn 🤣 Ano b checker yung kaya 2000 words? Kc long articles ko hinahalf ko kya hndi buo ang ss sa result.

$ 0.02
3 years ago

Hahaha haba kasi articles mo 😂 di ko alam eh, yung 1 text ko parang 1500 land din ata.

You know other people accuse us as if we don't know anything but copy paste 😂

$ 0.00
3 years ago

Nilagyan ko narn akin 🤣

$ 0.00
3 years ago

This explains everything I need tl understand about BCH. I honestly understand everything in this and now I get the point why many hodl BCH. I realized maintaining the cycle. Thanks you miss, Eyb

$ 0.02
3 years ago

Welcome, I am glad you learned something. You can share it to your friends as well.

$ 0.00
3 years ago

I will surely do especially the newbies.

$ 0.00
3 years ago