Is It the Right Time to Invest in Bitcoin Cash?
Nov 14, 2017 Posted / 1022 Views
Bitcoin Cash is a peer-to-peer electronic money traded over the Internet, this currency is fully decentralized with no interference from the government and any of its dominating institutions, like the central bank administering or limiting its the flow, thus, BCH is free from third parties.
Yes, it is, BCH is an advancement of the traditional Bitcoin version of peer-to-peer digital cash. BCH is the fork of the Bitcoin Blockchain ledger, with recalibrated consensus allowing you scale and grow more.
Yes, you do. Since BCH is a fork of the Blockchain ledger, you own the same amount of Bitcoin Cash, you have at the time of forking of the block. However, in case, you have stored your Bitcoin in any third-party wallet, it’s fundamental to consult with them about the conversation of Bitcoin into BCH.
Bitcoin Cash is an alternative protocol asset to Bitcoin, which was created in the month of August, by virtue of a hard fork. Of late, this virtual currency has done well in catching the eye of investors and traders as a rival to the more traditional Bitcoin, as per Tim Enneking, the Managing Director of Crypto Asset Management.
Today, there is a lot of discussions taking place among the investors, predicting that if Bitcoin doesn't implement larger blocks after the hard fork, then investors may seriously think about switching to Bitcoin cash.
Typically, a Bitcoin owner will receive the same amount of Bitcoin Cash, in his or her wallet, which that individual has to split once he or she decides to trade. Some of the perks of Bitcoin Cash include: it is faster compared to other cryptocurrencies, low transaction fees, plus offers like other electronic money offer Replay and Wipeout Protection.
Increase in Trade Volume
Though both currencies, Bitcoin and Bitcoin Cash share the same roots, there is one thing both of them differ, and that is extensive global exchange network of Bitcoin. In simple words, BTC is traded across nations and continents, but BCH has only roped a few major players since it’s launch. However, there are positives vibes suggesting that the trade volume of BTC will shoot in the upward like it has been continuously for the month of August, this year. There are a number of reasons for the increase in exchange volume, be it the sellers seeking to sell or buyers stalking to buy BTC, this currency has a bright prospect ahead. Plus, the recent increase in value, is backing the Bitcoin Cash to occupy the top spot in the list of dominating global cryptocurrencies, currently fourth on the list.
Rapid Value Rise in the Market
Hours, after the forking of Bitcoin, into two individual virtual currencies, one is the BTC, while the second one is BCC. The former, newer electronic cash has seen a tremendous surge in value, around 122% of the market price, as reported by top sources. At that time, it quickly occupied the three stop in the list of most valuable electronic money, behind Bitcoin and Ethereum.
Do you know how many transactions a Bitcoin network can process per second? Though there is no exact figure, it is around 6 to 7, and the transactions take about 10 minutes to process. And, as the network of the BTC expanding, the waiting time is becoming longer with every passing hour, because the transaction volume is increasing without any tweak in the underlying technology to process them quickly. However, with BTC, you won’t have to confront this problem. Being a new kid on the block, with a small database of daily users, and upgraded technology, BTC is blessed with the perk of faster transactions in contrast to other top cryptocurrencies.
Reduced Transaction Fees
The single biggest benefit of investing in Bitcoin Cash is that the transaction fee of this new currency is quite low, just a few pennies and money transacted. This indeed lures more and more merchants to think about this currency.
From all the above highlights, there is no dilemma to say, with Bitcoin Cash scaling new highs in terms of value and network growth, it is the right time to invest in Bitcoin- When the iron is red hot.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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