Why would anyone want or need to use bitcoin Cash?

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Avatar for Macronald
3 years ago

 For some months, I have been promoting bitcoin cash to my friends and colleagues as well as strangers for reasons why it is a better bitcoin than bitcoin core (BTC). Of course, bitcoin cash is the most popular coin in the world, and probably the only crypto most Nigerians have heard of, but bitcoin cash is everything bitcoin (BTC) wanted to become. The truth is another word for cryptocurrency among Nigerians is Bitcoin. It has not been easy to convince people to join the Bitcoin cash (BCH) community, but there is no giving up. I have talked to quite a number of people, but only very few have made any move to invest in BCH or even earn it via writing on read.cash, or posting on noise.cash. Many are called but few are chosen.

Success Story: He bought $1000 in bitcoin cash.

I hope they won't be among the many who would say, "I wish I bought earlier, it's too late to buy" when the price of bitcoin cash skyrockets. The best time to own some bitcoin cash was yesterday, and the second-best time is now.

Last Monday, while waiting for passengers to fill the bus to Onitsha, Nigeria, I sat next to a young man. We started a discussion and one topic led to another and I found myself telling home about bitcoin cash. He has been hearing about cryptocurrency in the news and from friends but he was yet to make up his mind to go into it. I explained to him how bitcoin cash is the best crypto to get started and the reasons he should hodl for the long term. I didn't fail to point out the volatile nature of crypto.

While we were on it, his friend, whom he was traveling with added his he'd made a lot of dollars investing in altcoins. I could read he was trying so hard to hold back his anger at his friend for not letting him into such an investment opportunity.

After few minutes of discussion, I was surprised when he decided to buy some bitcoin cash. Well, I didn't expect him to make such a move immediately. But I was happy he did. I helped him install the bitcoin.com wallet and Binance app. He created wallets on both. He decided to start with $1000. Wow! I didn't see that coming.

We bought $1000 USDT on Binance and traded it for Bitcoin cash. The app downloads and installation, wallet creation, purchase of 1000 USDT via Binance P2P platform, and trading for Bitcoin Cash (BCH) took less than 30 minutes. With my help, the BCH was sent to his bitcoin.com wallet.

A few minutes later, we were off on the journey. At this moment, the BCH has arrived in his bitcoin.com wallet. I noticed he constantly checked his wallet now and then, probably to check if it has gained. I told him to try and take his attention off the wallet. But he couldn't help it. Some hours later, he happily told me that his balance has gained more value. His balance has increased to $1050 and at the end of the journey, he already made more than $100 profit.

I gave him my contact so we can keep in touch. I can bet by now he has already made more than a $300 increase giving the rise of Bitcoin cash to over $600.

Till now, I have not heard from him. Guess he has made up his mind to hold for a long term.

Why would anyone want or need to use bitcoin cash (BCH) instead of the more popular bitcoin (BTC)?

Cryptocurrency is the future currency for the digital era. You can sell, buy, send and transact cryptocurrencies effortlessly across international borders and it isn't controlled by banks or the government, you are in full control of your asset.

Of course, Bitcoin (BTC) remains the most popular cryptocurrency in the world as well as the largest by market cap, but the surge in the price of bitcoin (BTC)may be great for those who invested early, but it undermines bitcoin's viability as a digital currency. Bitcoin has deviated from the original values - the promise of a peer-to-peer electronic cash system with can't and low-cost transaction when it was created in 2009.

Bitcoin Cash was started by a group of bitcoin miners and developers who were concerned with the future of cryptocurrency and its ability to scale effectively. The Bitcoin Cash (BCH) network can handle more transactions per second than the BTC network and is able to process transactions more quickly than BTC which means that the wait time for completion of transactions on the BCH network is shorter and the transaction fees are way lower than BTC.

Rather than a currency, bitcoin (BTC) is treated more like an asset - a store of value or "digital gold.

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3 years ago

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I have never bought bitcoin cash but I have earned a good amount and I have seen it fall and rise. I hope to buy some day.

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3 years ago