This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks. What is Bitcoin Cash? Icon Symbol Initial release date Algorithm type Max.

Supply BCH, BCC, Ƀ 1 August, 2017 SHA-256 21 million BCH Built upon the, Bitcoin Cash is a digital currency that is: • Decentralized. The network is spread out across many different computers all over the world. How To Mine Monero XMR Youtube. • Peer-to-Peer. Person A can send Bitcoin Cash directly to Person B from anywhere in the world without needing an intermediary, like a bank.

Bitcoin Cash uses strong encryption to prevent hacking, fraud, and cyber attacks. The history of all Bitcoin Cash transactions is logged on a publicly accessible blockchain that can be viewed and verified by anyone. How is Bitcoin Cash different from bitcoin? Bitcoin Cash was created as a result of diverging viewpoints within the bitcoin community about how to scale the network.

What is Bitcoin Cash? A Basic Beginners Guide. Increase a number of transaction fees that a miner may make from mining a block. Bitcoin Cash (BCH).

As more people began to use bitcoin, the network struggled to keep up with the volume of transactions. As a result, many bitcoin users were waiting hours, sometimes days, before seeing their transactions go through. There was a lot of debate around how to solve this problem that led to a split between two groups with opposing viewpoints: those in favor of increasing the size of blocks in the blockchain versus those in favor of restructuring the way data was stored in the existing blocks. The Hard Fork To make transaction speeds faster, one group within the bitcoin community wanted to increase the size of blocks on the bitcoin blockchain. This group, consisting primarily of bitcoin miners, could not get enough support from the larger bitcoin community to form the consensus needed to move bitcoin in this direction.

As a result, this group split off (or “hard-forked”) from the original bitcoin blockchain and formed Bitcoin Cash as a new currency. Bitcoin Cash recognizes the same blockchain as bitcoin up until the time of the fork, August 1st, 2017. After the fork, Bitcoin Cash transactions started to be recorded on a new blockchain, specific to Bitcoin Cash, while bitcoin continued to maintain the. What does Bitcoin Cash do differently? The biggest difference between bitcoin and Bitcoin Cash has to do with the size of blocks on the blockchain. By increasing block size from bitcoin’s 1MB up to 8MB, Bitcoin Cash allows many more transactions to be processed in one block.

The idea is to process larger transaction volumes faster and for lower fees. Another significant difference between the two currencies is that the level of difficulty involved in mining Bitcoin Cash varies depending on how many miners are active on the network. Dash DASH Mining Algorithm. Many bitcoin miners have migrated over to Bitcoin Cash for this reason, because it allows them to generate larger profits at a faster rate than mining bitcoin. Where can I use Bitcoin Cash as payment? Many cryptocurrency exchanges have taken steps to integrate Bitcoin Cash, and it’s possible that merchants will begin to follow suit as the currency continues to grow. For those looking to use cryptocurrency to buy goods and services, Bitcoin Cash is not currently accepted by most vendors, including many of those that do accept bitcoin.

How to get Bitcoin Cash There are a few ways to get your hands on some BCH. • You might already have some. If you owned bitcoin before the August 1 fork, you might already have Bitcoin Cash. Any bitcoin holdings you had prior to the split, unless they were kept on an exchange, can also be claimed as Bitcoin Cash.

The same private keys associated with your bitcoin wallet can be used to access equal holdings in Bitcoin Cash. • Buy from an exchange. Initially, many of the most prominent exchanges in the US were hesitant to support Bitcoin Cash. However, due to an increase in value and consumer demand more and more exchanges are beginning to open their doors to this new currency. Some popular exchanges that support BCH include Kraken, Bitfinex, and Bittrex. Coinbase has also stated that it will begin to issue Bitcoin Cash starting in 2018.

Details Features Coinbase Digital Currency Exchange Buy and sell bitcoin, Ethereum, Bitcoin Cash and Litecoin on one of the world's most renowned cryptocurrency exchanges. • Fees: Varies by transaction • Supported countries: 32 countries • Payment methods: Bank transfer, Credit/debit card, wire LocalBitcoins P2P Exchange Trade fiat currency for bitcoin in person or online with this peer-to-peer exchange offering competitive fees and wide delivery options. • Fees: 1% commission for each completed operation • Supported countries: Exchangers in 248 countries • Payment methods: PayPal, Credit/Debit and more Buy and sell bitcoin fast through a cash deposit at your local bank branch or credit union, or via a money transfer service.

• Fees: 2% to buy, 0% to sell • Supported cryptos: BTC • Funding methods: Cash – USD Binance Cryptocurrency Exchange Trade 60+ cryptocurrency pairs on this up-and-coming exchange based in China. Multi-language support.

• Trade Bitcoin Cash & Bitcoin Gold • Fees: 0.1% trading fee • Supported countries: Worldwide • Deposit methods: BTC, ETH, LTC, NEO & BNB HitBTC Multi-currency Exchange Buy crypto with fiat (USD/EUR) and trade over 150 other digital assets on this Europe-based exchange platform. • Buy/sell Bitcoin Cash & Bitcoin Gold • Fees: Varies by transaction type • Supported countries: Global, with exceptions • Deposit methods: USD/EUR/Crypto Paxful Bitcoin Marketplace Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods. • Fees: Varies by transaction, and PayPal no fees • Supported countries: Worldwide • Payment methods: Western Union, PayPal and many more Changelly Crypto-to-Crypto Exchange Access competitive crypto-to-crypto exchange rates for more than 35 cryptocurrencies on this global exchange. • Exchange Bitcoin Cash & Bitcoin Gold • Fees: 0.5% + networking fees • Supported countries: Worldwide • Payment methods: USD, EUR, 35+ cryptos Indacoin Cryptocurrency Exchange Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity. • Fees: Varies by transaction • Supported countries: More than 100 countries • Payment methods: Payza, Credit/Debit cards (USD) and more Cancoin P2P Crypto Exchange Buy and sell bitcoin with privacy on this multi-signature, peer-to-peer exchange that supports a wide range of payment options. • Fees: 1% + miner's fee (sellers only) • Supported countries: USA & Canada • Payment methods: Cash, PayPal, Western Union & more Bitit Bitcoin Marketplace Buy bitcoin with cash or credit card and get express delivery in as little as 10 minutes. • Fees: Card: 8.9%, Cash: 11.9% • Supported countries: 50+ countries • Deposit methods: Credit card, cash vouchers, Epay Coinmama Bitcoin Marketplace Use USD/EUR to buy bitcoin and Ether with credit card or cash on the Coinmama cryptocurrency exchange.

• Fees: 5.5% + 5% for credit card • Supported countries: 226 countries worldwide • Payment methods: Credit/debit card, cash VirWox Virtual Currency Exchange Buy bitcoin through PayPal on one of the oldest virtual currency exchanges in the business. • Fees: Varies by transaction • Supported countries: Worldwide • Payment methods: PayPal, Skrill, paysafecard, uKash xCoins P2P Bitcoin Lending Buy bitcoin instantly with credit card, PayPal or bank account on this peer-to-peer lending platform.

• Fees: Varies by transaction • Supported countries: 40+ countries • Payment methods: Credit card, PayPal, bank transfer Cryptex24 Exchange Buy and sell crypto and other digital currencies on this global fixed-rate exchange. • Fees: Varies by transaction • Supported countries: Worldwide • Payment methods: Western Union, MoneyGram, Perfect Money & more • Mine it. Bitcoin Cash has received a lot of support from miners, many of whom have switched over from. The opportunity to earn generous amounts of BCH through mining is an incentive for more people to participate in the network. Can I make money with Bitcoin Cash?

Cryptocurrencies are notoriously volatile, and it’s impossible to say for certain whether the value of Bitcoin Cash will go up or down. Since its initial release, BCH has grown to become one of the most valuable cryptocurrencies in the world, but it has also seen major price fluctuation from one day to the next. From an investment perspective, the stability of Bitcoin Cash is very uncertain. Many skeptics believe that it will not be able to replace bitcoin as the leader in this space, and therefore it may not survive in the long term. On the other hand, supporters of BCH believe it offers an improvement over bitcoin and will therefore gain value in the long term and ultimately overtake its predecessor. What to watch out for Bitcoin Cash is still very new, and it has seen major price variations in its early days.

There’s ongoing debate about the real value of Bitcoin Cash, how much support it has, and whether its solution to bitcoin’s scaling problem is ultimately a success. What’s next for Bitcoin Cash? The future of Bitcoin Cash remains unclear. Its value has grown substantially despite its comparatively short existence, but Bitcoin Cash faces several challenges and uncertainties moving forward. Bitcoin Cash is hailed by its supporters as a “new and improved” system that will replace the original bitcoin.

At the same time, many prominent voices in the cryptocurrency space have suggested that Bitcoin Cash does not have the same level of support driving bitcoin. As bitcoin moves to implement its own solutions to the scaling issue, we will likely get a much clearer picture of how these two competing currencies will develop into the future. Image sources: Shutterstock.

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