From Bitcoin to Bitcoin Cash

November 25, 2020

It's been half a year since I entered this crypto space. Although I know some things about it 2 years ago, I wasn't interested to know more due to my past scam experiences. Yes, I got scammed from joining platforms that I thought will help me get financial freedom, 16k+ is not that big for some people, but for me it is. And that was the biggest mistake I have ever made, investing in something without searching its roadmap.

Until I learned about earning free crypto from different faucets. I gave it a try since it was just for free and even if it ended up as a scam, I will not going to regret it since there's no real money involved. I will not lose anything except for the time invested in claiming free crypto.

The only crypto I know back then was Bitcoin and Ethereum because my friend on Facebook was always posting about these cryptocurrencies. Who doesn't know about Bitcoin anyway? The first-ever invented cryptocurrency, the king of all crypto. So I chose claiming free Bitcoin from different faucets and earned a few hundred from it. As a newbie in the crypto space, it was already a big amount for me. Free Bitcoin that later can be converted to real money. Interesting right?

Then five months ago, I have learned about Bitcoin Cash, and that is through read.cash. Ever since that day, I started to like Bitcoin Cash more than Bitcoin. Not just because it's the form of payment here, but also because of its very low fee and fast transaction. One time, I was supposed to withdraw my Bitcoin earnings but I was disappointed with its fee. In some cases, the gas fee is even higher than the minimum withdrawal. I'ts like you are saving just to cover the gas fee. What a joke! And many also complained about its slow transaction speed. So without hesitation, I converted all my Bitcoin to Bitcoin Cash.

And by learning more about Bitcoin Cash through reading articles inside and outside read.cash, I finally understand why @Telesfor and many other users chose Bitcoin Cash over Bitcoin.

Among all fork of Bitcoin, Bitcoin Cash caused more controversy with its creation. In just less than a day after its appearance in 2017, its market cap exceeded $7 billion, making it the most successful fork of BTC. Some crypto enthusiasts even said that BCH will be better than BTC with its huge supporters and wide adoption.

The main reasons why many users chose BCH over BTC is that:

• Block size: since May 2018, BCH quadrupled its block size from 8MB to 32MB, making it 32 times as large as Bitcoin 1MB size.
That means it can handle more transactions per second than Bitcoin can in the same given amount of time.

• BCH has a low transaction fee: This is what I like the most about ch. The fee per transaction only costs cents like $0.010 or less, sometimes almost nothing. Unlike in Bitcoin, the transaction fee sometimes reaches up to$25 or more.
That means making transactions in Bitcoin Cash can save more money than using Bitcoin.

• BCH has faster transaction speed: You don't need to wait for 30 minutes or more in making BCH transactions just like in Bitcoin. Your BCH is up just within a few seconds to a few minutes!

These are the reasons why Bitcoin Cash becoming more adopted day by day. Many people speculated that Bitcoin Cash might have a better portion of Bitcoin's market share making it the new dominant currency in the crypto space. It is also because Bitcoin Cash addressed the issues in scaling that Bitcoin faces, allowing many people to use it with ease and cheaper fees.

How to invest in Bitcoin Cash?

Investing in Bitcoin Cash is very simple. You can just buy it and store in a digital wallet until the time you decide to sell it or use it for other transactions.

There are two strategies in investing and you can either choose one of them or both.

Short-term trading. It refers to buying and selling cryptocurrencies in short timeframes. This has a higher potential profit but it needs more time commitment and good trading skills to earn a profit.

Long-term investment. It refers to buying and holding cryptocurrencies over long timeframes. This strategy is mainly less profitable but requires less skill and time.

There are digital wallets where you can save Bitcoin Cash like Bitcoin.com, Trustwallet, Metamask, and other crypto exchanges platforms like Coinbase, Binance, and more.


Why stay in Bitcoin Cash?

As you have noticed, Bitcoin Cash has been on a gradual uptrend this past few weeks.

At the time of writing, BCH was being traded at $345 with a market cap of $6.44 billion and a 24-hour trading volume of $1.88 billion with 53.13% accuracy this week. The strong bullish sentiment over the past 24 hours in the crypto-market had allowed BCH’s price to achieve a double-digit percentage of 17 percent.

The latest fork seems to have a strong impact on the industry and allowing its price to surge from $250 to $350. BCH is a more competent blockchain than BTC itself, and it could become the main blockchain for making digital payments. Despite many controversies, its strong support from different fan clubs these days make BCH surge continuously.

Some experts even say that BCH price will even go higher. For example, @RogerVer has recently stated that BCH price might be double over the following 12 months. If this will happen, the BCH would surge above $500 by next month. His prediction before the previous hard fork happened and sometimes, BCH projections are even more optimistic than what the experts expect.

Another BCH lover @MarcDeMesel recently tweet saying:

If those crypto enthusiasts believed in Bitcoin Cash, why should we doubt it?

Bitcoin is just for the rich people, and Bitcoin Cash is for everyone!

Written by: @Jane

Lead image from hackernoon.com