What Is Bitcoin Cash

Bitcoin Cash (BCH) is a cryptocurrency that was created as a result of a hard fork of the Bitcoin blockchain on August 1st, 2017, at block 478558. Anyone who held bitcoin at the time of the fork became an owner of an identical crypto amount of bitcoin cash.

Reasons to Buy Bitcoin Cash

Almost everyone in the cryptocurrency world has heard of Bitcoin Cash ()BCH and correctly assumed that it is related to Bitcoin, and other,s are wondering if investing in bitcoin cash (BCH) would yield much profit as bitcoin did, we will be discussing reasons to invest in bitcoin cash (BCH), but first lets discuss where bitcoin cash (BCH) came from.

Where Did Bitcoin Cash Come From?

Before going into reasons to buy Bitcoin Cash (BCH), you should take the time to understand where it came from. After all, Bitcoin Cash’s connection to Bitcoin (BTC) is one of the reasons it is worth your consideration. Simply put, Bitcoin Cash was a fork from Bitcoin in August 2017. With Bitcoin Cash (BCH), the block sizes got bigger, improving the system’s ability to handle transactions. This was a response to the lack of scalability of Bitcoin, which had caused concerns from the start. The developers behind Bitcoin wrote a block size limit of 1 megabyte into its code as a way to stop spam attacks back when the value of BTC was low. The problem arose by 2015 or so, when Bitcoin was much more valuable, reducing the risk of spam attacks. At this point, the average block size was also 600 bytes, meaning that there were delays during peak times. Bitcoin Cash (BCH) was one of the several forks that attempted to find a solution as well as the one that proved to be the most successful. Compared to Bitcoin, Bitcoin Cash (BCH) increases the block size up to 8 megabytes, multiplying it by eight. It additionally gets rid of SegWit, the proposed code adjustment that would remove portions of the transaction to make more block space available. With the fork for Bitcoin Cash (BCH) , the developers wanted to increase the potential number of transactions processed. They had the ultimate goal of this increased scalability, allowing Bitcoin Cash to process as many transactions as big names like Visa and PayPal.

Bitcoin Cash Is More Affordable and Has Not Peaked

From a pure investment standpoint, it is much easier to begin buying cryptocurrency with Bitcoin Cash (BCH) than Bitcoin simply due to the relative values of the cryptocurrencies. At the time of writing (July 8, 2020), one (1) BTC is equal to $9,248  while one (1) BCH is equal to $237.18. Based on those figures, your purchase of BCH would get you about 39 more tokens than you would if you bought BTC instead. Keep in mind, however, that both Bitcoin and Bitcoin Cash (BCH)  have experienced spikes, although BCH’s is not as extreme as that of BTC. When BCH started trading, it quickly reached a high of about $886.64 but dropped back down to $513.22 soon after. Even so, it managed to reach $4,000 by the end of 2017. Even while that change is impressive, Bitcoin has already had a much more dramatic increase in value, considering that the first real-world transaction involving BTC was famously the purchase of two pizzas for 10,000 BTC. Since BCH has not experienced a price spike like that of BTC yet, some argue that it may have more potential for growth in the future.

Experts Say Now Is the Time

If you scour the web for reasons to buy Bitcoin Cash, you will find numerous ecommendations from experts who say that this is the ideal time to purchase BCH. Very recently, Brian Kelly, the CEO and founder of BKCM, which focuses on digital currency investment, publicly recommended that people invest in BCH instead of BTC. He pointed out strong points in favor of this cryptocurrency, including its recent increase in volatility and the increased volume. Kelly also pointed out that since everyone just took care of their taxes, this is the time when cryptocurrencies will rally together, and investors should buy now while BCH is still in a relative dip.

Reasons to Invest in BCH Over BTC

When it comes to choosing where to put your money in cryptocurrency-related investments, Bitcoin Cash has several benefits. They give Bitcoin Cash the potential to dramatically increase in price or at least experience steady growth. Just some advantages include simplicity, very low fees (just pennies compared to $20 to $50 for Bitcoin), reliability, speed, on-chain scalability, Emergency Difficulty Adjustment, and new transaction signatures.