Why Bitcoin Cash can be the best cryptocurrency for payments?
There are several reasons why we can say BCH can be one of the best cryptocurrencies that can be used for payments and fast transactions. The biggest advantage I see is the fact that it carries the name Bitcoin on it. People who are pretty new to blockchain and stuff first try to understand Bitcoin and all they know is only bitcoin. It is becoming an obvious thing. But in spite of that, some people try to explore things other than Bitcoin, and Bitcoin cash is the next attractive thing for people who explore outside the Bitcoin world.
Well, the name alone cannot be the reason why it can be a good cryptocurrency for payments. I'm going to discuss some of the advantages Bitcoin Cash brings us to make it a good cryptocurrency for payments and stuff. I personally have been using Bitcoin Cash on a few websites to make my payments. That becomes really handy. Even though there are several revolutionary coins out there, BCH still stands well.
https://blocktivity.info/coin/bch_0
Limited supply
This is an important factor for the success of any cryptocurrency. When people try to purchase or invest in cryptocurrencies, this is something that should be taken into consideration. There are cryptocurrencies that have an unlimited supply. Even if it is unlimited, the inflation should be under control but some cryptocurrencies don't even have their inflation under control. In that case, BCH is similar to BTC where the total supply is only 21,000,000. There will be no more coins after 21,000,000 BCH is created.
The chain will continue to operate without any rewards after all the BCH coins are minted. According to estimation, it is expected that 2140 would be the year when the last Bitcoin would be minted. It would be something similar for BCH too I guess.
Transaction fees
This is one of the biggest boons we have with Bitcoin Cash. Compared to its parent cryptocurrency which is BTC, the transaction fees are very minimal making it flexible for transfers and payments. This is the primary reason why BCH can be the best choice when it comes to payments. I would say this is the best but at least the transaction fees are lesser than Bitcoin making it attractive for payments.
I guess it is also easier to implement this on websites and apps. That's another biggest reason why we are able to see this as a payment option everywhere. The Bitcoin.com wallet is pretty cool for this and we can use a QR code to scan and make the payment. Block time is usually long but the transaction is pretty much instant. At least it will be sent out immediately even though it takes some time for us to see it reflect. Compared to BTC, I think people would be interested to use BCH to make payments because the transaction fees are very cheap.
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