Let's try to give a more detailed answer to this question. First, let's take a look at the structure of BCH and the solutions it brings.
The main purpose of this currency is to be used as a payment system. This means that like the original Bitcoin client, BCH users can send and receive money. However, the technology of this cryptocurrency provides much faster transaction times and lower transaction fees.
Many people thought that those who bought their free Bitcoin Cash would sell it as soon as possible, but that wasn't the case. Since its launch in August 2017, BCH has performed very well.
What Is Bitcoin Cash Used For?
With a limited total supply of 21 million coins, BCH is clearly scarce and can be spent as easily as cash. Anyone can accept payments in BCH with a smartphone or computer.
Bitcoin Cash has several use cases. In addition to peer-to-peer payments, it can be used to pay participating merchants for in-store and online goods and services. It also helps reduce fees and payment times for money transfers and cross-border trade.
Increase block size
The time and fees required to confirm a transaction on Bitcoin's blockchain have skyrocketed. This was mainly due to the 1MB block size limitation for Bitcoins. Because blocks could not support the increase in transaction size, transactions were queued and waiting for confirmation.
Bitcoin Cash proposes to remedy the situation by increasing the size of blocks from 8 to 32MB, which makes it possible to process a larger number of transactions per block. The average number of transactions per block in Bitcoin is between 1,000 and 1,500. The fact that the number of transactions on the Bitcoin Cash Blockchain has reached 25,000 per block shows that the transaction speed has really increased.
Helping inexperienced miners
Bitcoin Cash is, for all intents and purposes, a cryptocurrency created by miners, not the original Bitcoin developers, who wanted a more user-oriented and free service for users.
A fast payment method
With BHC, transactions are faster and allow users to deposit and withdraw your cryptocurrencies.
Is It Too Late to Invest in Bitcoin Cash?
It is not yet clear which cryptocurrency will dominate in the long run. It should be clear to every trader before investing in cryptocurrencies: there are no guarantees of future profits.
The cryptocurrency market is constantly changing and there are always surprising returns. But there are some reasons why it's not too late to invest in Bitcoin Cash.
Bitcoin Cash is a young currency
A closer look at Bitcoin Cash allows you to quickly understand why more and more crypto enthusiasts are investing in this virtual currency.
Although BCH is very volatile (like all cryptocurrencies), it is also young. Cryptocurrencies are spreading more and more, blockchain technology is used in a wide variety of industries, and the first countries are experimenting with government cryptocurrencies.
Cryptocurrencies have an exciting future ahead and that is true for BCH. But of course, if you are planning to invest in Bitcoin Cash, keep in mind that the risk is incredibly high. The only way to make money is to raise the price, which means other people are willing to buy from you. This is not an asset, but a bet on price.
A currency that can be valued in the long run
There are more than 4000 digital currencies today and they do not all serve the same purpose. Those who invest in Bitcoin Cash often do so for the sake of possible future valuation. BCH is currently the third strongest cryptocurrency. However, this does not mean that the future of Bitcoin Cash coins is secure.
For this reason, it is recommended to invest only in amounts that are not necessary in the medium and long term. Investing in BCH may be appropriate for anyone who can live with high risk while investing and also expect high luck. After all, large price increases are basically possible.
Already a strong currency
Bitcoin Cash has not been around for very long, but it has already established itself as an extremely strong cryptocurrency. As of this writing, Bitcoin is the fourth largest cryptocurrency in the world by market cap, behind the industry pillars of Ethereum and Ripple.
It is also the second most popular cryptocurrency in the world. For many people, BCH has become the answer to everything wrong with the original Bitcoin and continues to gain new followers every day.
Instead of buying BCH shares, you exchange your currency for that cryptocurrency. In general, there are risks associated with investing and trading, so you should do your own research before making a decision. But you should know that it is not too late to invest in Bitcoin Cash.