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