Should I exchange my BTC for BCH?

Should I exchange my BTC for BCH? Like most here, I entered the Bitcoin Cash promotion platforms in search of obtaining tips to exchange them for Fiat money in the early future. A legal and novel way to help the family economy in this severe economic recession that my country is going through. In our case, cryptocurrencies have come to our aid, without them our lives would be more difficult than they are now.

Without a doubt, the crisis is the cause of my adventure in the fascinating world of cryptocurrencies. Probably, if I hadn't been so rapidly impoverished by hyperinflation and economic slowdown; I would have missed the opportunity they offer by being imbued with the routine of a professional middle class, depending on a monthly salary. I was also close to retirement and I hoped that the pension would be more than enough to live the golden years. I was wrong, nothing could be further from the truth.

In May 2017, I had my first experience with the crypto market. A somewhat painful experience indeed. A friend of ours invited us to buy some bitcoin to invest in a page that promised to double the capital in a short time. I remember that both my wife and I, sold some gold items to buy 0.3 bitcoin whose price was $ 1,700. A risky operation where we place all our trust. My friend spoke with the example of his portfolio. His investment and his loss tripled ours. In a short time, not receiving payments, we understood about the scam under the Ponzi scheme. We had some bitcoin fractions left in a wallet called Xapo. At the end of that year, bitcoin reached the first important peak ($ ​​20,000) to fall again shortly after. As of today, bitcoin (BTC) has exceeded $ 50,000.

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Already retired, the pension equivalent to about $ 600 was depreciating at an accelerated rate, forcing us to spend the savings. We manage it with a scarcity criterion, but if you take out and do not replace it, you will soon be left with nothing. That's how it went. At the end of 2019 without savings, without a job due to not being a candidate due to age, despite postgraduate degrees and experience. I just had to find a way to get money on the internet. I started first by watching advertising, I even got a job as a copywriter for a European company. I only did one job until I decided to write on a social network that rewarded me with a token that I had never heard of. I rediscovered my passion for writing and the freedom to express myself without strings attached. Sure, respecting the elementary for a dignified and decent interaction.

Even though the income is marginal compared to the already distant usual salary, I did get satisfaction from doing what I like at this stage of my life. I read about read.cash seven months ago, I even gave it a peek at that time, but it wasn't until I entered noise.cash, at the suggestion of a friend, that I recently decided to post here.

In these three weeks, I have read several authors with very interesting articles with high quality in areas of my interest. I am pleasantly pleased. Before when I looked at the capitalization ranking, I thought that Bitcoin Cash was a BTC token. That is, I thought that both BTC and BCH were tokens from the same blockchain. He believed that BTC was for a store of value and BCH for everyday use just like FIAT cash.

I am very clear that this is not the case. They are two different chains after a hard fork. Where BCH, in my opinion, is the one that continues with the original project of Satoshi Nakamoto. It is the real bitcoin that suits us.

So far, I have been accumulating BCH in a paper wallet, despite being tempted by peremptory needs. Even the little BTC that I still have in Uphold, I plan to change it to BCH and transfer it to my paper wallet.

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Here I ask myself, am I doing the right thing? Everyone talks about BTC, in the end, it is the crypto that dominates 60% of the market, the predictions are ambitious and many companies are buying it now. Why would I exchange them for BCH?

My answer is simple, BCH is geared towards serving ordinary people, it is currently undervalued, and, likely, I will soon recover the real value, the transactions are much cheaper and faster. But what convinces me the most, I am an idealist with a good nose who is optimistic about positive change with mass adoption. BTC is intended to replace gold and not to become an instrument for the daily exchange of goods and services.

Say, I have a hunch about it. Of course, when it comes to money, people are fearful and do not trust intuition, preferring to rely on technical analysis and complex algorithms, including artificial intelligence. I am a countercurrent and I go in the current of BCH. We will go where the river takes us.

Photo by Razvan Chisu on Unsplash

PS: What is expressed here is not intended to be financial or investment advice. They are just the thoughts of a newbie.

Original article by @Jnaveda

Cover Photo by Ewan Kennedy on Unsplash