Knowing Bitcoin Cash and why I am loving it.

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Avatar for Learnerer1998
3 years ago

I initially started knowing more about crypto currency on August of this year 2020, more than 3 months ago, and knowing a lot of it was an amazing experience. And since then, I keep on trying to learn more about it and how does it work.

I was amazed about how the price of some crypto currency is so volatile that it had already its all-time high then dump and then surge high again like Bitcoin (BTC) and Bitcoin Cash (BCH).

Knowing Bitcoin Cash (BCH)

Since Bitcoin (BTC) is the most known crypto among all the crypto currencies, it is more exposed to get attraction from newbie or someone who doesn't have any knowledge about crypto currency, and I am one of those people who got attracted to Bitcoin.

After knowing Bitcoin, I then find ways to earn free crypto currency or Bitcoin to be exact. I have tried a lot of free faucets, free mining and even investing in a high yield investment platforms (HYIP) just to have experience about it, and fortunately I haven't got scammed yet.

One of the free faucets I love and where I am getting more crypto currency is the free faucets called Coinpot - it has 7 different faucets where you can claim different crypto currencies every 5 mins.

Everytime when I think that I already reached the minimum withdrawal for Bitcoin, I always convert all of the other crypto that I have claimed to Bitcoin, including Bitcoin Cash (BCH).

Since I've been learning so much about Bitcoin, I then tried to expand my horizon and tried to learn other crypto currency. And what caught my curiosity next is Bitcoin Cash.

I learned that Bitcoin Cash was a successful hard fork of Bitcoin and being supported by a strong community and big whales like Roger Ver and Marc De Mesel. Though its all-time high was more than $3,000 and currently the price is around $290 at the time of writing this article, the strong support from the BCH community was telling that someday it will surpass Bitcoin and will be the world's digital payment system.

What I learned about Bitcoin?

  • Bitcoin was developed in 2009

  • It was developed by an uncertain someone that is called Satoshi Nakamoto.

  • Bitcoin is decentralized, means no one is in or can control the price of it.

  • Bitcoin is the King of all Crypto.

Why I am loving Bitcoin Cash (BCH) more than Bitcoin (BTC)?

The fact that the transaction speed for receiving Bitcoin is very slow and a very high fee of sending it is what I hate the most and might be the reason for its downfall and other crypto might replace it for its dominance, and that would be clearly Bitcoin Cash (BCH), the one who can potentially take it.

Here are some reasons why I think it will and also the reasons why I am loving Bitcoin Cash (BCH);

  • Transaction speed - the speed for sending and receiving BCH is way more faster than BTC. As for my experience, the time that will take for receiving the BTC in my wallet usually take 5-6 hours, while in BCH in only takes not more than 5 seconds. That's thousand times faster.

  • Transaction fees - this one is the most annoying for me and I know also for everyone. The last time I checked for sending BTC, the fee was around $4-5 and that is not considerable for a small time crypto lover like me. But not BCH, transacting BCH will only cost you not more than $0.05 for Evey transactions. And that is a thousand times cheaper than BTC.

Bitcoin Cash for the future

I know I'm not the expert one to say this, but with the research I made for myself, I can say that Bitcoin Cash (BCH) will take over Bitcoin in the future. With the strong support of the BCH community and the great projects that BCH is being included, it's not impossible for BCH to be the world's digital payment for everyone.

Final statement

As I do strongly believe in Bitcoin Cash (BCH), I recently bought some BCH to hold it long term. I know this one is not risky as BCH is meant to be at the top of all crypto currencies.

Images source : www.istockphoto.com

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Avatar for Learnerer1998
3 years ago

Comments

Bitcoin Cash probably won't ever overtake Bitcoin in the price, and one of those reasons is because of the latter's high fees and slower transaction time. These will ensure that all transaction will be big, and encourage whales to collect more... At least that's what I think.

BCH has a high chance of completely replacing BTC as currency (but not as a Store-of-Value) in the near future though.

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