BitCoinCash(BCH) Is Bitcoin Cash a Good Investment and Should I Invest in Bitcoin Cash?

If you’re new to Bitcoin Cash, you might be wondering if Bitcoin Cash (BCH) is a good investment? Or should I invest in Bitcoin Cash? Well, we’re going to put straight all Bitcoin Cash-related myths so you can work out for yourself if investing in BCH is for you or not.

So, here is all you need to know about Bitcoin Cash: one of the more controversial digital assets in the cryptocurrency investing sector.

Bitcoin Cash (BCH) is one of many Bitcoin offshoots that have emerged in the last few years, and it is by far the most successful.

Often seen as the underdog, while BCH has not done as well as its big brother, Bitcoin, in terms of popularity, it has done a lot to make cryptocurrency a viable way to send money to each other.

So, while it might not make you a gazillionaire, there is a real opportunity with BCH to make some serious money Without further ado, let’s get to it.

Getting Started With Bitcoin Cash Investment.

To start investing in Bitcoin Cash BCH, you first need to Sign up online with an exchange that will allow you to buy and invest in Bitcoin Cash.

An exchange broker is an online platform that enables you to buy and sell Bitcoin Cash as well as many other cryptocurrencies that they have listed on their platform.

What is Bitcoin Cash?

Before we explore the potential of Bitcoin Cash as an investment, let’s try to understand the nature of Bitcoin Cash.

Bitcoin cash BCH is one of the top 30 cryptocurrencies. Though do not simply invest in any asset just because it’s popular! You should instead invest in something you can understand and be able to evaluate.

So back to the question, what is Bitcoin Cash? Bitcoin Cash is a cryptocurrency created in 2017 as a hard fork of Bitcoin.

Here we should mention that a hard fork refers to any radical changes to a blockchain platform’s protocol; changes that all nodes should comply with.

Though Bitcoin is considered the most successful traded cryptocurrency, we all know that Bitcoin is not a perfect cryptocurrency.

Speed Or Security ? That is The Question

That’s right, After a lot of heated discussions across the cryptocurrency community, Bitcoin Cash was created in 2017 to improve the scalability of Bitcoin and facilitate everyday transactions and investing. 

To achieve this goal, Bitcoin Cash was designed with eight times larger blocks than Bitcoin - a fact that attracts many cryptocurrency investors to consider adding Bitcoin Cash to their portfolio and to invest in Bitcoin Cash BCH. Today, after further improvements, BCH now has 32 MB blocks.

Here we should note that the size of any Bitcoin block is limited to 1 MB, which is believed to give enough time between transactions to improve validation and security.

How Does Bitcoin Cash Work?

Bitcoin Cash works in a very similar way to Bitcoin. Both use the SHA-256 hashing algorithm, are capped at 21 million coins and use proof of work for mining.

Transactions are added to blocks and blocks are added to the blockchain after they are validated by miners. Miners then receive a transaction fee for the transactions they validated and newly minted coins.

BCH is decentralised and its network is spread among a vast number of users to keep it secure. You can also view BCH transactions on the distributed ledger.

As mentioned above, the major difference between Bitcoin and Bitcoin Cash is blocksize, with BCH being 32 MB, 32 times larger than BTC. This allows Bitcoin Cash to process up to 116 transactions per second, while Bitcoin can only handle seven.

But there are some other minor differences too. Bitcoin adopted the lightning network and ‘Segregated Witness’ (SegWit).

The lightning network is a second layer that was added to Bitcoin that allows transactions to happen off the blockchain.

SegWit was a soft fork (like an update) to Bitcoin’s blockchain that removed the need for signature data in transactions. This was done to make BTC transactions smaller, which meant more could fit in a block and speed up validation.

The Bitcoin Cash team rejected both of these ideas and they are often cited as their main reasons for splitting with the Bitcoin clan.

What Is Bitcoin Cash Used For?

Bitcoin Cash aspires to live up to Satoshi Nakamoto’s original plan of what Bitcoin should be - decentralised, peer to peer digital cash.

The split between the two camps all started when Nakamoto disappeared, and the remaining people involved started to discuss how to improve Bitcoin’s scaling as it became more popular.

SegWit and the Lightning Network were suggested. But the people who would create BCH turned back to some of Nakamoto’s previous comments on blocksize.

After he implemented a 1 MB blocksize, he explained that the blocksize could be increased if they needed it later. And that was all they needed to hear.

Today, Bitcoin Cash also has smart contract capabilities (just like Bitcoin), oracle services and a small but growing DeFi community.

As one of the most popular cryptocurrencies, it can be bought and traded at most crypto exchanges and some brokers.

Is Bitcoin Cash a Good Investment?

Yes, Bitcoin Cash can be a good investment and a great way to diversify your portfolio when done right.

The truth is that Bitcoin Cash has a market cap of $6,981,630,881 and a 24-hour trading volume of $5,059,502,787, at the time of writing, which makes Bitcoin Cash one of the top 30 traded cryptocurrencies out there.

But what does that mean to investors? We are often bombarded with numbers we hardly understand, so let’s put numbers in perspective.

A high trading volume means high liquidity, or how easily an asset can be bought and sold. Market cap, on the other hand, refers to the value of an asset on the market.

While many factors can affect the success rates of cryptocurrency investment, including demand and supply, market sentiment, crypto news, and tech innovations, the truth is that many big Bitcoin investors believe that Bitcoin Cash is a good investment.

Interestingly, one of the main supporters of Bitcoin Cash is Roger Ver, known as the Bitcoin Jesus, who tweeted in November 2020:

“BCH works as cash.

BTC no longer does.

That’s why Bitcoin Cash is for everybody.”

Should I Invest in Bitcoin Cash Now?

Why should I consider investing in Bitcoin Cash? It’s not only big investors that are interested in Bitcoin Cash investing, though. You can also invest in Bitcoin Cash! 

But is accessibility enough for you to invest in Bitcoin Cash? Just because you can invest in Bitcoin Cash, that doesn’t mean you should.

And here, dear crypto investor, we can’t give you a precise answer. Simple because there’s no one-size-fits-all approach to crypto investing and it’s all up to you and your financial goals! 

All we can do is help you make an informed decision. And the truth is that Bitcoin Cash provides fast transaction times, low fees, and better scalability than Bitcoin. 

Thus, if you believe that Bitcoin is not the only coin worth watching and if you think that larger blocks can improve scalability, then investing in Bitcoin Cash might be the right option for you.

Oh, and though we can’t promise that you’ll make money with cryptocurrency, don’t be surprised that the number of investors who want to have Bitcoin Cash in their portfolios is increasing, including:

Crypto enthusiasts who believe that Bitcoin Cash is better and more scalable than Bitcoin.

Investors who are willing to take a risk and invest in Bitcoin Cash and its adoption in the long term.

Day traders who are betting on possible price swings and crypto interest in Bitcoin Cash.

Miners who want to escape from Bitcoin and its concentration of hash power.

Would you consider investing in Bitcoin Cash BCH?

Does Bitcoin Cash Have A Future?

Bitcoin Cash is being actively developed and the team continues to add to BCH’s capabilities.

Though their development team is quite fractured (or, if you will, decentralised). They have a lot on their plate.

One of the primary areas BCH continues to push forward with is blocksize. In June 2021, it was announced that on BCH’s testnet, Scalenet, someone managed to mine a gigabyte block with a Raspberry Pi4.

While this is still only at the experimental phase, it has opened up the possibility of even larger blocks in the future, which could enhance speed and transaction costs.

And if the BCH team continues to experiment and then implement such ideas, it is quite likely that Bitcoin Cash will be around for a long time to come.

How Much Could Bitcoin Cash Be Worth? Bitcoin Cash Price Predictions

You may want to know how much Bitcoin Cash could be worth in the years to come before you decide to invest in BCH.

The truth is that nobody knows! The cryptocurrency market is highly volatile and dependent on demand and supply, so it’s hard to give accurate price predictions.

On top of that, the ongoing pandemic and the bearish market it triggered in March 2020 showed the whole world that there’s nothing certain in the financial world.

That said, past performance and data analysis can help investors and traders to make forecast predictions. 

So, let’s start with Bitcoin Cash and its performance in the past. When it was launched, Bitcoin Cash had an opening value of around $290, which reached almost $700 the next day. By 20th December 2017, BCH had reached its all-time high of $4,355.62.

Since then, Bitcoin Cash has been a more stable investment, with one BCH trading at $368 at the time of writing. According to some positive predictions, the value of Bitcoin Cash may double in 2022. 

According to DigitalCoin, Bitcoin Cash might range between $551.02 (max) and $488.72 (min) by the end of 2022 (which is still an increase on the current price).