Possible use of BCH

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we need heavy matter to matter heavily. bch lover

3 years ago

I’m less professional in crypto-world but I find it very necessary to make a gate-away for the use of bitcoin cash and its strictly for newbie who has no knowledge about crypto, my first experience about crypto was laughable but it is not funny because I lack knowledge. Despite my late exposure I still find it difficult to adapt and master the use of all coins and its very sad in the beginning that I’m not conscious of any manipulation strategy. Now I want to fill the gap.

There are a few different ways to make use of Bitcoin Cash, First and foremost is HODL, follow by swapping between and among other altcoins, also it can be swap into stable coin in that you can swap from BCH to stable coin like usdt or you can even margin trade on Detoken, Bitfinex, Bitmex or binance etc, if you’re lucky type, you can rock high with this kind of trade. Here is how to make better use of Bitcoin Cash and some tips for doing so.

Bitcoin Cash is a fork of Bitcoin due to a disagreement over a scaling solution. BCH has chosen to create larger blocks in an effort to make ease plenty transaction and be “peer to peer electronic cash” that is widely useable to fulfil the ideal function of bitcoin.

bitcoin cash carrying the bitcoin features and function, check here.

https://bitcoin.org/en/bitcoin-paper

Trading bitcoin cash for other coins.

Bitcoin Cash is one of the biggest and a notable cryptocurrency, there is currently. Whilst some may argue that bitcoin cash is a trash coin, but to me bitcoin cash is my best coin and that make Bitcoin Cash a very profitable swing to trade.

Now that BCH has reached a certain level, the cryptocurrency can generally be relied upon to maintain a consistent peg with Bitcoin. If the coin begins to drop a way behind Bitcoin, you can expect it to soon rise up again and vice versa. Whether BCH will likely decouple from Bitcoin it is what I long waited for. Although, the market of all coins has remained coupled to Bitcoin for many years till now. As Bitcoin Cash standout of other digital currencies and more bitcoinlish in nature, it is possible to make some quick swing trades with the smaller marketcap coins as well. Due to less liquidity these cryptocurrencies can be more volatile than the larger marketcap coins such as Bitcoin Cash.

Many exchanges offer Bitcoin Cash trading pairs including Binance and Poloniex, so you don’t need to trade your BCH for Bitcoin to make a trade. Instead you can directly trade Bitcoin Cash for your altcoins.

There are, of course, many parameters that you need to be aware of before making such a trade. Is Bitcoin Cash looking bullish or bearish? How do you expect the altcoin to perform as well?, because the most preferable method and as high yield trade aimed is concerned, it is advisable to check the market nature, either bullish or bearish favorable or unfavorable (increased or decreased in volatility).

In a bull market, these trades can be relatively easy if every cryptocurrency is rising in price. However, even if you make more in terms of dollars it doesn’t necessarily mean it was a good trade. Keeping your holdings in BCH might have earned you even more.

Trading bitcoin cash for goods

Perhaps you find it wired to flip other altcoins with your Bitcoin Cash. There are alternatives things that you can spend your BCH on. One of the key features that the Bitcoin Cash community push is that BCH behaves as cash as it was outline in the white paper “ peer to peer, electronic cash ” and indeed bitcoin cash is serving this purpose. Therefore, you can spend it very easily.

Bitcoin offer a marketplace where you can buy a variety of merchandise and goods to show your support for Bitcoin. It is necessarily mean that Bitcoin cash will be a payment requirement for these goods either, in the case of bitcoin cash, some small business owner do accept bitcoin cash as a means of exchange for the good and services they provide, in this community we are in READ.CASH and NOISE.CASH, many have taken different steps in this direction, and are doing well, vividly, every can do this , no matter how little, the step has been taken.

There are numerous other retailers that accept Bitcoin Cash. Roger Ver has been driven in pushing outlets to accept BCH as part of the marketing behind the cryptocurrency.

Trading with leverages

If you fancy yourself as more of a day trader, mark my word it is not a must but if you are an expert in gambling or guessing and as well as well as potentially endowed with luck, you can head on over to Bitmex or Bitfinex or Binance and take part in some more risky trading by longing and shorting Bitcoin Cash. You can use leverage through this, but the risk associated with this kind of trading is much higher and so are the profits, well I have not tried longing and shorting trade before, but if you able then you can do it.

skilled people have actually been making immensely profit from this type of trading. Learning the skills, patience and emotional stability required is time consuming. Unfortunately, many people jumped into this type of trading before they are ready and lose woefully and regret taking such kind of risk.

spot trading is also possible using the aforementioned trading apps, this is simply done by looking at the increase and the decrease in the amount of each coin by price, when ever there is increase in price sell in contrast to this buy, this occur due to volatility of cryptocurrencies. bitcoin cash can be spot trade among other altcoin, but to avoid volatility, you can sell to stable coin like USDT.

It is advisable that before taking part in any kind of trade be it spot, long, margin etc, extensive research and practice is essential! In all cases of trading Bitcoin Cash never risk more than you are willing to lose, if you hold your coin dearly, you are at high chance to become a millionaire in a blink of an eye.

Recommendations

Accumulation of micro tips can sometimes create influx when trying to move the coin (transaction charges might be a challenge) for e.g , micro coin/ tips from noise cash, it is very advisable to use an ideal wallet, hence I recommend bitcoin.com wallet for hodl.

It is very easy to find different kind of wallet in play store, apple store etc. but I ideally, selection of wallet that make moving, holding, swapping and trading is essential. So when trying to choose wallet , bitcoin.com wallet stand out, another wallet to use to avoid charges is binance, although it has online wallet attach , which make it more vulnerable, base on preference, bitcoin.coin wallet should be first but if you feel like trading you can choose binance over bitcoin.com for it make trade easy and less cost.

To manage your coin in bitcoin.com wallet read AVOID VOLATILITY WHILE HOLDING BITCOIN CASH

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what impression did you got after you accumulate some bitcoin cash here, Do you like to HODL? or you prefer to stake or trade?, i'm pretty sure one must be in order of preference , however if you like to hodl, club1bch got you cover.