What is Bitcoin Cash?

Bitcoin Cash

Bitcoin Cash (BCH) is basically a version of bitcoin which is result by a hard fork. Due to miners experiencing difficulties in mining lead them to create their own bitcoin. Because of the frustration they experience in mining and bitcoin due to its scalability.

The appearance of BCH as a fork also gives you two versions of bitcoin. Its better if you have control of your bitcoin wallet because once the fork occurs you will obtain those two versions of bitcoin. So if you have 1 bitcoin on your bitcoin wallet you will automatically have 1 BCH after the fork.

Having or obtaining that version of bitcoin which is BCH gives you the same amount regardless of how much of Bitcoin it is into your Bitcoin Cash wallet, meaning if you have 10 Bitcoin right now will yield you 10 bitcoin cash when the fork occurs. What we mean by having control is having your address and private keys.

bitcoin cash logo

An example of this is having your bitcoin on trading or exchange sites, in this situation the trading site has control of your Bitcoin and once the fork occurs they will have control of your BTC and BCH, giving them the options whether you will get your Bitcoin Cash or they will have control of it.

Advantage of Bitcoin Cash

BCH increases the size of blocks, allowing more transactions to be processed. The value of BCH is dependent on the market. The reason people recommend BCH and put money in it is to increase its value. So the value of the coin still depends on the people who use it. Initially it was predicted from range anything to pennies, dollars to thousands of dollars as of now Bitcoin Cash has actually reached prices of 2,867 Dollars on its first day BCH reached prices of 215 Dollars on trade while Bitcoin was priced that day 2,750 dollars.

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