Join 100,646 users already on read.cash

Bitcoin Cash Is The New Crypto King

2 51
Avatar for LiquidOcelotYT
Written by   34
2 months ago

A Very Basic Introduction For The Newbies

The new king of cryptocurrencies, Bitcoin Cash, has been stirring up attention since its release back in 2017. It has gained massive popularity, but there have also been questions about why it’s doing so well and whether or not this will continue to be the case moving forward. Learn all about Bitcoin Cash and how it works to prepare yourself with the knowledge you need to navigate the crypto world. This guide will teach you what Bitcoin Cash is, how it differs from other crypto coins, why it’s so popular, and how to get your hands on some! Don’t fall behind – learn about cryptocurrency now!

What is Bitcoin Cash?

Bitcoin Cash was created as a fork of Bitcoin in order to solve some of the problems that were being experienced with Bitcoin. The original Bitcoin blockchain technology can only handle seven transactions per second, which has been a problem for users and caused transaction fees to rise. With Bitcoin Cash, there are eight transactions per second and low fees; this makes it more useful for everyday transactions.

Blockchain technology is what makes cryptocurrency possible and all cryptocurrency transactions are stored on a public ledger called a blockchain. This helps prevent fraud because each block in the chain contains a record of every transaction made so far on that blockchain. Wallets can be used to store digital currencies on your phone or computer; they hold your public key which allows you to send and receive cryptocurrencies while also keeping them safe from hackers.

Investing in Cryptocurrency – Trading Platforms

There are many different ways to invest in cryptocurrency, but one of the easiest ways is to purchase it outright through a cryptocurrency trading platform. These platforms allow you to buy and sell cryptocurrencies at their current market value. One popular trading platform for buying and selling Bitcoin (BTC) is Coinbase. Coinbase offers an easy-to-use wallet service with a variety of supported currencies and payment methods, including credit cards, wire transfers, ACH transfers, PayPal, or even cash for face-to-face transactions. Once you've signed up for an account on Coinbase and linked your bank account to your account with them, you can purchase bitcoins using any of these payment methods just as easily as if you were purchasing anything else from a website that accepts your preferred payment method.

Investing in Cryptocurrency – Wallets

There are a lot of wallets out there to choose from and they all have different pros and cons. In general, hardware wallets are considered the safest option because they store your private keys offline and offer good protection against both physical theft and hacking. I recommend using Ledger Nano S for storing Bitcoin, Ethereum, Ripple, Dash, Litecoin, Zcash, Nem, Stratis, Namecoin, and Dogecoin; it supports other coins as well but these are the ones I use most often.

Investing in Cryptocurrency – ICO’s

The first thing to know about investing in cryptocurrency is that it’s still a high-risk investment. You can lose all your money if you buy cryptocurrencies and they drop in value or don’t increase at all. But, if you are lucky enough to get in on the right coin early, then it could make you rich. The second thing to know about investing in cryptocurrency is that there are two main ways to do so: via an Initial Coin Offering (ICO) or buying and trading coins. An ICO is when a company releases its own currency with an intention of funding its business plan by selling tokens that give those who invest access to their product or service at some point in the future.

How To Start Mining Cryptocurrency

In order to generate a cryptocurrency, you need a powerful computer with high processing power, often referred to as a miner. Mining can be done on an individual or group basis. Mining is also sometimes called cryptocurrency mining or blockchain mining.

  • 1. Create your account with any of the exchanges that are currently trading in Bitcoin Cash. Some of these include Coinbase and Bitstamp, but there may be others depending on what country you live in. This account should have an email address, phone number, and password for access.

  • 2. Set up two-factor authentication so only those with this information can log in to your account and make changes to it or withdraw money from it.

Buy or Build a Dedicated Mining Rig?

One of the most popular ways to get Bitcoin Cash and other cryptocurrencies is through mining. Mining is essentially a process of solving mathematical equations by using your computer's CPU power. You can either buy an expensive dedicated rig for mining, or you can use your own computer (for free). If you decide to mine with your own PC, there are various software that can be used and all you need to do is create a Bitcoin address where you will receive any mined coins. The downside to this method is that as more people mine Bitcoin Cash, it becomes more difficult to find a block and get paid because there are more miners in competition with each other.

6
$ 3.06
$ 3.03 from @TheRandomRewarder
$ 0.03 from @ZeroRequiem
Avatar for LiquidOcelotYT
Written by   34
2 months ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

For all the users of read cash Bitcoin cash is everything because we are receiving money by it

$ 0.00
2 months ago

Yes and receiving not only on read.cash but also many are on noise.cash as well.

$ 0.00
2 months ago