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Learning the Basics of Bitcoin Cash

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Written by   36
1 month ago (Last updated: 3 weeks ago)

Looking for basic information about Bitcoin Cash? Here's the ultimate guide to start with BCH. This article allows you to expand your knowledge about Bitcoin Cash from knowing the basic information, creating a BCH wallet, buying or acquiring a BCH and getting the latest updates and development about Bitcoin Cash.

Disclaimer: Everything that found in this work are not professional advice. Ideas and insights come from the author's knowledge, observation and experience only. The author and the site (the read.cash) as the publisher shall not be held liable or responsible for any misunderstanding or misuse of the information in this article.

Knowing About Bitcoin Cash (BCH)

First off, let's discover what Bitcoin Cash is all about, it's quick history, it's comparison with Bitcoin or BTC and discover random videos about BCH.

What is Bitcoin Cash?

Bitcoin Cash according to its official website, bitcoincash.org, is a peer-to-peer electronic cash.

Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as "Peer-to-Peer Electronic Cash". Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development.

Source: bitcoincash.org

Bitcoin Cash (BCH) is a cryptocurrency that shares many of the same characteristics as Bitcoin (BTC) yet also integrates a number of changes and features that set it apart. It is considered a 'fork' of Bitcoin, although proponents argue that Bitcoin Cash more closely adheres to the original vision of creating a peer-to-peer electronic cash system as laid out in a 2008 white paper written by the founder of the protocol, a person or group going by the pseudonym Satoshi Nakamoto.

Source: bitcoin.com

For the full article, just click here.

Know more about this peer to peer electronic cash, the Bitcoin Cash on whybitcoincash.com.

For other terms related to understanding BCH, just click this link.

How was BCH born?

In October 2008, Satoshi Nakamoto published the famous whitepaper entitled “Bitcoin: A Peer to Peer Electronic Cash System”. In 2009, he released the first bitcoin software that powered the network, and it operated smoothly for several years with low fees, and fast, reliable transactions.

Unfortunately, from 2016 to 2017, Bitcoin became increasingly unreliable and expensive. This was because the community could not reach consensus on increasing the network capacity. Some of the developers did not understand and agree with Satoshi’s plan. Instead, they preferred Bitcoin become a settlement layer.

By 2017, Bitcoin dominance had plummeted from 95% to as low as 40% as a direct result of the usability problems. Fortunately, a large portion of the Bitcoin community, including developers, investors, users, and businesses, still believed in the original vision of Bitcoin -- a low fee, peer to peer electronic cash system that could be used by all the people of the world.

On August 1st, 2017, we took the logical step of increasing the maximum block size, and Bitcoin Cash was born. Anyone who held Bitcoin at that time (block 478558) became an owner of Bitcoin Cash (BCH). The network now supports up to 32MB blocks with ongoing research to allow massive future increases.

Source: bitcoincash.org

BCH as Compared to BTC

Let's have a brief comparison between Bitcoin Cash and Bitcoin.

Bitcoin Cash (BCH) is another cryptocurrency that is a fork of the original Bitcoin (BTC). It split from Bitcoin in August 2017. These two coins are very similar, but the main difference between BCH versus BTC is that BCH has an increased block size. The increase in block size (from 1 MB to 8 MB at the time of the fork - and now to 32 MB as of May 2018) means that more transactions can be processed within a single block.

Source: coins.ph

See full article here:

Know more the difference between Bitcoin and Bitcoin Cash through the article, "Bitcoin vs. Bitcoin Cash: Why It’s Important for Investors To Know the Difference" written by Ryan Haar.

Other Videos About BCH

Let's discover random videos about BCH. Listen to them and know their thoughts about BCH.

What is Bitcoin Cash? - A Beginner's Guide | 99 Bitcoins

I Just Found the Next Bitcoin | Andrei Jikh

LIVE: Happy Fork Day Bitcoin Cash| Marc de Mesel

Bitcoin Cash to $25000 | SHRAYTV

Bitcoin Cash: The Road to Mass Adoption (New BCH Documentary) | Bitcoin Cash Site

Bitcoin Cash Better Investment Than Ethereum | Marc de Mesel

Creating a Bitcoin Cash Wallet

Before you can buy or sell a Bitcoin Cash or make any BCH transaction, you must have a BCH wallet. How to create a Bitcoin Cash wallet? This section allows you to create your own Bitcoin Cash wallet where you can store or send payment using the Bitcoin Cash cryptocurrency. Among these wallets are Bitcoin.com and Coinbase. Don't forget to write down and keep the seed phrase of your wallets.

A seed phrase is usually a series of 12 words which is used to back up your BCH wallet.

Bitcoin.com Wallet

Download Bitcoin.com Wallet on Google Play Store and generate your digital wallet. This wallet supports BTC, BCH and ETH.

Coinbase Wallet

Download Coinbase Wallet on Google Play Store and generate your digital wallet.

Coinbase Wallet is the #1 mobile crypto wallet and Web 3 DApp browser. Wallet makes it easy for you to securely store, send and receive Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Ether Classic (ETC), Litecoin (LTC), XRP, and Ethereum-based ERC20 tokens. It also allows you to interact with Web 3 decentralized applications (DApps) powered by Ethereum.

Source: Coinbase

Other Wallets

In the Philippines, we are also using the popular wallet called Coins.ph. It supports buying and selling BCH too. It can be downloaded in this link for Android users.

For more wallet choices, please visit bch.info/en/wallets.

Buying or Acquiring Bitcoin Cash

So, you have successfully installed your BCH wallet now. You can now use your BCH wallet address or qr code that you can generate within your wallet to buy or receive Bitcoin Cash. You can buy BCH using your bank, ewallet o any digital currency. You can also ask from a friend to send you BCH and pay him or her in fiat.

If you don't have enough money to cash in your BCH wallet, you can try earning opportunities online that pays you in Bitcoin Cash.

BCH News and Community

Since Bitcoin Cash users are growing fast, where can we find the latest updates and development about this peer-to-peer electronic cash? Here's some of the trusted websites and Social Media pages that tackle about cryptocurrency like BCH.

Get BCH to USD Chart, BCH Live Data, BCH to USD Converter, BCH Price Statistics, etc. through coinmarket.com.

Get BCH Price, Calculator, Market Analysis, etc. through coindesk.com.

For BCH Explorer, you access blockchair.com and blockchain.com.

Get Bitcoin Cash news on Reddit r/Bitcoincash.

For other news and analysis about cryptocurrency, just go to investingcube.com.

For BCH public discussion, join the bitcoincashresearch.org.

Marc De Mesel YouTube Channel

Marc De Mesel

Roger Ver on YouTube Channel

Roger Ver

Final Thoughts

All sources of information about BCH presented in this article are just few of the many information available in the internet. I only gathered this information based on what I have read or watched about BCH. Still, it is recommended to do your own research for additional information about Bitcoin Cash.

To sum up, you have explored about Bitcoin Cash, it's history and comparison to BTC. You also gained information on installing a BCH wallet using crypto app like Bitcoin.com, Coinbase and others. Additionally, you've known about buying or acquiring a BCH using your wallet that you created. Finally, you've got list of information or sources where to find news about BCH and where to join a BCH groups or community.

09172021


About the Author

Just call me Frank. Exploring cryptocurrency since 2015 is my enthusiasm and writing since I was young is my passion while helping others in whatever way that I can is always my heart's desire.

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Written by   36
1 month ago (Last updated: 3 weeks ago)
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Comments

You had covered all the basics even more about Bitcoin Cash in this article. I also wrote about this a few days ago but now I feel like I just gave an intro to this only. You had done a great job. Keep it up mate.

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1 month ago

Oh, thanks mate. Maybe, you should continue writing it. There are still more ideas that have not yet covered in this article. Have a great day.

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1 month ago

Yes Thank you mate. 🌝☺️

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1 month ago

This is a good researched article about BCH. But I think its better to have like your own experience or thought mixed on it as well. Regardless, this is very informative for new users like me.

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1 month ago

Thank you for the suggestions. Supposedly, I have inputted my experience about BCH but since the article is too long already, it may sounds boring for newbies. But anyway I have another article that I am planning to share my experience and maybe I'll publish it soon (not really the continuation of this but still related to BCH). I really appreciate your suggestions. In this way, I will know the areas should I need to improve. Again, thanks and God bless.

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1 month ago

Sure thing. I am new here and in the world of BCH so I really want to know as much as I can about it.

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1 month ago

Very informative bro nice. :)

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1 month ago

Thank you, bro. Have a wonderful day.

$ 0.00
1 month ago

Well written and good information passed across. Keep up the awareness. BCH is great 💪

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1 month ago

Thank you for the appreciaton. Let us keep moving with BCH.

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1 month ago

This is a great compilation of information and videos. You are saving me a lot of time by including all these links. I'm saving this so I can read it again later. This is very useful especially to the beginners in BCH.

And thanks for the mention and sharing one of my articles.

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1 month ago

Thank you so much. I'm glad that somehow this article would help. God bless po.

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1 month ago

It'll be a lot better if bitcoin.com wallet would let us sell our BCH in there... Minsan hassle sa coins.ph e

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1 month ago

Yes, I agree. Sana nga soon. Thank you for dropping by. May God bless you po.

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1 month ago

Very high rated writing. Informative post. Probably the best one for the new users.

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1 month ago

Thank you so much for your good words. Have a wonderful day.

$ 0.00
1 month ago

Sa pagkakaalam ko po, bawal na po yung mga mention na mention na sa ganyan sa article sir as the talking head said. Wait hanapin ko po yung link. On the other hand, good po ito para sa starters like me hehe.

$ 0.00
1 month ago

Ganun ba, hindi ko alam. Edit ko na lang. Thank you for reminding.

$ 0.00
1 month ago

I don't think it's technically bawal. Pero siguro limit lang. Ang iba kasi inaabuse na ang mention lalo na kay Mr. Demessel at iba pang mga malalaking tao dito sa community. Gusto lang kasi nilang mapansin at makatangap ng extra tips.

$ 0.00
1 month ago

Thank you for that info. Mas mabuti na din mag-extra ingat na ako. 😊 We love this community, this platform, kaya sana di mawala. 🙏🏻

$ 0.00
1 month ago

Lagi po kasi ako nakatag sa mga post niya eh hehe

$ 0.00
1 month ago

Oo nga, kasi naman deserve mong pasalamatan talaga. Again, thank you for the heads up.

$ 0.00
1 month ago