Join 79,278 users and earn money for participation

Why Bitcoin Cash is so good for day-traders

0 24 boost
Avatar for happyinvestor
Written by   7
2 months ago

Bitcoin cash has been around for a while and it's pretty good and here's why...

Transaction Speed

The transaction speed of Bitcoin cash is much faster than bitcoin due to the high block size. Because it's so understated in the market there are fewer people that the blockchain has to amount for which leads to it having such a great speed. This makes day trading much easier and efficient. Here is a chart showing the block size of BTC vs BCH from Crypterium

The fees!

According to the 2019 average fees for Bitcoin and Bitcoin cash the fees for Bitcoin cash is about 130th times less than Bitcoin. This is so good for daytraders as they need the least amount of fees involved so they can maximize profit and get in and out of a trade as quickly as possible. Here's an example, I get into a Bitcoin trade with 100 dollars. If I get an average fee of 1.30 I already lose 1.3 percent and have to make that up just to break even. But If I get into a Bitcoin Cash trade all I have to do is gain 0.01 percent to be able to break even.

Scaling your trading

When you are day trading you need to scale up little by little to start gaining more and more profits. For Bitcoin, this is hard because the fees keep on piling up and the time that it takes gets so long due to the high block size and that is really bad as a day trader needs to get in and out of there as quickly as possible. Bitcoin Cash on the other hand can help you scale up much faster and with better profits due to the as stated low fees and block size.

Bottom line

If you are thinking about going into the day-trading space be sure to use Bitcoin Cash because of its low fees and time. The ability to scale your day-trading is so important to start growing your profits. So when you are trying to start day-trading remember to keep Bitcoin Cash in mind. Happy trading!

3
$ 0.00
Sponsors of happyinvestor
empty
empty
empty
Avatar for happyinvestor
Written by   7
2 months ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments