Bitcoin Cash
What is Bitcoin Cash (BCH)?
BCH is a decentralized peer-to-peer systеm that is independent of things like central governments or financial institutions.
Bitcoin Cash (BCH) – appeared as a result of Bitcoin fork. The reason for this fork was the great popularity of Bitcoin – the blocks in the Bitcoin blockchain began to fill up too quickly. This resulted in lower transaction speeds and increased the load on the miners too much and made Bitcoin more difficult to scale.
Bitcoin (BTC) and Bitcoin Cash (BCH) originate from the same registry but are considered different cryptocurrencies. The main difference is that Bitcoin Cash has a larger block size and this leads to the acceleration of its network.
Bitcoin Cash mining
Mining this cryptocurrency is easier to get started as the mining hardware is the same as the most popular cryptocurrency, Bitcoin. To start mining, you need to go through a few basic steps:
- Create a crypto wallet that will receive BCH.
- Purchase mining equipment. The most efficient equipment for mining BCH are special ASIC miners.
- Decide on the mining format – you can mine on your own or join a mining pool.
- Turn on your equipment and wait for BCH to arrive in your wallet.
How to buy Bitcoin Cash?
There are many places to buy Bitcoin Cash. It can be a crypto exchange or one of the best exchangers – Leoexchanger!
What to do with Bitcoin Cash?
Main use cases for BCH:
- Use it as a means of payment.
- Sell mined BCH.
- You can try trading this cryptocurrency, earning on price fluctuations.
- BCH can be used as a long-term investment tool. There is a possibility of its price growth in the future. In this case, you can get a good profit from selling it.
BCH price dynamics (USD)
As of August 2022, the price for 1 BHC is around $137.5. Total market capitalization $2,611,591,628.
The price movement chart is shown in the chart below:
How to store Bitcoin Cash?
The two main options for storing BCH are a crypto wallet and an account on a crypto exchange.
Exchange option e.g. WhiteBit is simpler, but has 1 weak side – losing access to your account can lead to the loss of all the cryptocurrency that was there.
A crypto wallet is a more secure option, but you will need to install additional software. There are many different crypto wallets. It is better to choose a wallet that is right for you based on the reviews of other users of this or that wallet.
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