According to the experience of more than three years that I have in cryptocurrencies, I have been able to appreciate that when you talk about this topic to anyone, in general what they know is BITCOIN, and rarely go beyond, many do not know that there are currently more than 4000 cryptos, beyond Bitcoin, which are also better alternatives to that considered mother currency.
And I'm not talking about Ethereum, which of course I recognize its value and everything it has added to the crypto environment and global finance, but in terms of operations, speed, security, cost, there are undoubtedly better options. Bitcoin Cash is one of them.
Why do I think so?
I will take the current case of the country El Salvador, which has adopted BTC as legal tender, that is good, I think it is something that favors us all, and I really hope it is an initiative that can be replicated in other countries, however, there is a blunt reality, and is the cost of transactions, we know that the amount of "transactions per minute" that can run are few when compared to other blockchain. So, to give a simple example:
I am going to pay for a product in a commercial store, transactions in BTC usually last more than 30 minutes, even hours or days, it is the reality, would I have to stay in the store all that time before being able to withdraw with the product, or should I cancel long before, and when the transaction is confirmed go to withdraw my product, this is something that is not practical at all, and although I agree with the acceptance of BTC, I must recognize that this is a point in contention.ra.
How long does it take to complete a transaction in Bitcoin Cash? just a few minutes, a few minutes or seconds, it is really very fast.
Another important detail: Transaction cost
It is no secret to anyone that all or almost all transactions that we make in the traditional financial environment or not have a cost, it is logical, because the platforms or the Blockchain in general have an operational cost, and it must come from somewhere. Now, there is a great detail, is that Bitcoin transactions, apart from the delay, have a very high cost, especially if we consider that in most Latin American countries a minimum wage is between 200-300 dollars, making a transaction and apart from having to wait for it to materialize, having to assume a cost of more than 20 dollars for the transaction is high, I imagine that at this point of the story you will agree with me.
So in this aspect I consider that by only paying a few cents on the dollar to make a transaction in Bitcoin Cash, it puts it far above any other crypto, even BTC, don't you think?
For this reason I must say with certainty that adopting Bitcoin Cash as legal tender is much better than adopting BTC or other cryptos. The speed, the low transaction cost, the diverse use it has today allows its adoption, it is easy to use, in platforms like this we can earn it by sharing content that interests other users, that is, we can do a lot with it.
I hope that soon, its use and approval will expand in many more countries, and we will all continue to have much more to do with our cryptocurrencies.
I know that the massification is ongoing, we must be patient, also help educate people in terms of finance in this aspect, so that they feel much more calm and secure and can also assume all this wonder of the crypto universe.
I will come back soon with more content to share with you all, have a great day.
