Bitcoin cash (BCH) as we know it, is a fork of the original and initial cryptocurrency; Bitcoin. As a matter of fact, it is not the only Bitcoin fork in existence. But by far, BCH is the most widely used.
A fork is usually created when the initial code of a blockchain gets updated and the nodes split off from the original blockchain to create a new blockchain. Thus, the coins on the blockchainĀ become separateĀ andĀ uniqueĀ from the ones on the original blockchain. Like we have for Bitcoin and Bitcoin Cash.
However, in order not to fully digress, here are just a couple of reasons why Bitcoin cash could be one of the best alternatives or replacements for Bitcoin.
FASTER TRANSACTIONS
No doubt, Bitcoin Cash allows for faster transaction speeds. This is not far fetched, BCH having a much larger Blockchain space solves the issue of slow transactions compared to that of Bitcoin. Coupled with the fact that not many users currently transact with Bitcoin cash as much as with Bitcoin. Transactions could easily be confirmed in a couple of minutes depending on the situation.
LOWER TRANSACTION FEES
Bitcoin cash transfer fees are quite lower and you could easily overlook the cost to transfer BCH to another address. This is quite in contrast to its predecessor, Bitcoin.
MORE OPTIMISED BLOCKCHAIN
As I stated earlier; Bitcoin Cash has a much larger blockchain. So therefore more transactions can be handled at a particular time. This means that more people can use BCH at the same time than they can with BTC.
MORE AFFORDABLE
By far, the price of Bitcoin has risen to over a 1000% increase since its inception in 2009. And as of the time of writing this article, the current price of Bitcoin is around $18,378.60 per Bitcoin! (monitor on coin gecko).
Compared to this, Bitcoin Cash is just around $343.43 per coin (monitor on coin gecko). Such a huge margin...This makes BCH worth an early investment option. As price predictions claim it could really rise like Bitcoin in the upcoming years.
Do you think all these are enough reasons to consider investing in Bitcoin Cash? Share your thoughts in the comments! :)
