As more and more people started using Bitcoin , the system worked hard to maintain the numerous transactions. Consequently, many Bitcoin members waited for hours or days before transactions finally reached their destination. This caused many problems as to how this matter could be resolved. This eventually led to the division of the community into two separate groups with their different opinions.
There were those in favor of expanding the size of the blocks in the Blockchain, which went against those favoring the modification of the way in which the information was maintained in the existing blocks. With all these debates, arguments and various opinions, came a hard fork. To ensure that transactions were streamlined, a group within the Bitcoin ecosystem wanted the blockchain size to be larger. This group was made up of miners. However, they were not able to get enough support from the larger Bitcoin ecosystem to create the desired consensus to move Bitcoin down this path. Because of this,
Bitcoin Cash recognized the exact same Blockchain as the original Bitcoin until the fork period which was August 1, 2017. After the fork problem was fixed, Bitcoin Cash transactions were recorded on a completely new Blockchain . The hard fork went off without a hitch, and the improvement in Bitcoin Cash caused Bitcoin to be used as cash again. Transaction fees are low, transaction times are fast, and most importantly, the Bitcoin Cash community is united in the original vision of Bitcoin: "cash."
Buy Bitcoin Cash
Due to the hard fork, many individuals have been drawn to Bitcoin Cash. Many of them have invested in the "new" bitcoin.
Selecting your exchange
There are several exchanges where Bitcoin Cash is listed, some include:
Payment method
After finding and deciding which exchange to buy Bitcoin Cash with, the next question that comes to mind will be how to pay for it. There are several methods by which Bitcoin Cash can be purchased. Some of the most popular of them are credit card and transfer.
Store Bitcoin Cash
To store your BCH, there are several wallets available, including:
For hard wallets - Trezor, Ledger Nano S and KeepKey.
For virtual wallets - Electron Cash, Bitcoin.com, Unit, Exodus, Jaxx, Coinomi and BTC.com.
The benefits of Bitcoin Cash
Some of the benefits of Bitcoin Cash involve the following, although they are not limited to the points outlined. These benefits include:
Decentralized
No one controls or owns Bitcoin. Transactions cannot be altered or censored.
Fixed supply
Only 21 million will be created, defeating the inflationary problems that plague all fiat currencies.
Low fees
The ability to carry out reliable, fast and cheap transactions is a fundamental principle of Bitcoin.
Conclusion buy Bitcoin Cash
The concept is to process larger transactions faster and at considerably lower rates. Another vital difference between the two cryptocurrencies is that the level of complexity, which is associated with the mining of Bitcoin Cash, is different from that of Bitcoin.
However, this exclusively depends on the number of miners operating in the system. There are many bitcoin miners who joined the Bitcoin Cash system for this reason alone. They mostly joined this system because it allows them to produce higher profits more quickly compared to when they were mining Bitcoin.
Good job on the article and presenting the information. I would love to use bitcoin cash more, but won't until more places around except it for payment. I'm holding hoping I can use it in near future, especially when it comes to travel, which I think would be great when it comes to the different countries currencies.