Bitcoin Cash Disadvantages

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Avatar for Mshahbaz
3 years ago

Bitcoin Cash does not have as much investor confidence as Bitcoin. Also, its adoption rate and market penetration is much lower than Bitcoin’s. This has a lot to do with the fact that this coin is much newer than Bitcoin.

Bitcoin Cash mining is relatively the same as mining Bitcoin. This means that someone who mines Bitcoin Cash makes much less profit than someone mining Bitcoin with the same equipment. For this reason, miners are not as quick to mine Bitcoin Cash.

Finally, when it comes to trading, BCH has far less trading pairs than BTC, making it less tradeable than Bitcoin. All these disadvantages work towards making Bitcoin Cash’s adoption rates and prices much lower than Bitcoin’s.

Bitcoin Advantages Over Bitcoin Cash

As the original cryptocurrency, Bitcoin is the base currency of the entire sector. It is what all other cryptocurrencies trade against (as well as ETH, most of the time) and is tradable on most exchanges. Bitcoin is the most popular and has the most trading pairs with other cryptocurrencies.

As of 23rd March 2018, Bitcoin makes up 44.5% of the entire capital of the crypto-sector and is considered the Gold standard of a rapidly growing industry.

The biggest advantage Bitcoin has over Bitcoin Cash is its community and cult-like following: it’s the first cryptocurrency anyone hears about. It is super, super popular — if your Grandma knows about one cryptocurrency, I’ll bet you $100 it’s Bitcoin!

Bitcoin Disadvantages Over Bitcoin Cash

The disadvantages of Bitcoin when compared to Bitcoin Cash mainly regard the scalability issues facing Bitcoin. Bitcoin is olderslower and costs a lot more per transaction. It is likely that as the sector grows, Bitcoin will continue to lose its dominance to these other coins.

Another disadvantage is that the core development team of Bitcoin is not united as good as other crypto teams, like that of Ether, for example. They appear to be divided as a group and lacking clear leadership.

This makes the implementation of scaling solutions more difficult to agree on and implement to the network — not good at all!

Bitcoin Cash VS Bitcoin: Where Can You Buy Them?

One of the most popular exchanges to buy both Bitcoin and Bitcoin Cash is Coinbase.

On this platform, you can use fiat to buy popular cryptocurrencies (including Bitcoin and Bitcoin Cash) through your credit card, bank account and more. Unfortunately, Coinbase is only available in 32 countries:

U.S.A., Canada, UK, Switzerland, Sweden, Spain, Slovenia, San Marino, Portugal, Poland, Norway, Netherlands, Monaco, Malta, Liechtenstein, Latvia, Jersey, Italy, Ireland, Hungary, Greece, Finland, Denmark, Czech Republic, Cyprus, Croatia, Bulgaria, Belgium, Austria, Australia and Singapore.

If you use a broker that doesn’t sell BCH but sells BTC, you can always buy Bitcoin and exchange it for Bitcoin Cash on a trading platform like Binance.

The final and the easiest way to purchase BTC and BCH with your credit card is via Simplex - fraud-free online processing

Thank you sir @MarcDeMesel

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Avatar for Mshahbaz
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