Bitcoin Cash, also known as BCH, is a cryptocurrency which was created in August 2017. Bitcoin Cash has been called the “true” Bitcoin because it follows the original economic model of a limited number of coins and no new coins being generated through mining.
Bitcoin Cash is often referred to as an altcoin or a hard fork. This article provides an overview of Bitcoin Cash to answer what it actually is and how it works.
Cryptocurrencies have seen a huge surge in popularity over the past few years with Bitcoin being the most popular one out there. In fact, more than 100 cryptocurrencies have been created since 2009 when Bitcoin was first introduced to the world for trading purposes.
One such cryptocurrency is Bitcoin Cash (BCH), which was created in August 2017 from a fork from the
Bitcoin Cash is a decentralised peer-to-peer cryptocurrency. It was created in August 2017 when Bitcoin developers split with the mainstream Bitcoin network, following years of disagreements on the development of the cryptocurrency.
Bitcoin Cash is a fork of bitcoin, so it shares many of its characteristics.
The most significant difference between these two coins is their transaction structure. While bitcoin records all transactions in one file called blockchain, Bitcoin Cash uses larger blocks that are processed in smaller groups or “blocks” which are then assembled into chains.
Bitcoin Cash is a fork of the Bitcoin project and was created by a group of people who wanted to increase the block size and lower transaction fees.
This new cryptocurrency is not as popular as Bitcoin, but it is also less expensive and more scalable.
Bitcoin Cash is a cryptocurrency which was created in August 2017 by splitting from the Bitcoin blockchain. It has the same features as Bitcoin including peer-to-peer transactions and decentralized mining. The main difference is that it has a block size capacity that allows 8mb blocks, compared to 1mb blocks for Bitcoin.
The big question is what are the pros and cons of this cryptocurrency? As of now, one of the major advantages is that transactions are cheaper on average than regular bitcoin transactions because it doesn’t have any blocksize limit.
Bitcoin Cash offers higher transaction speed and lower transaction times. It also has the ability to scale up to about 120 transactions per second without any troubles.
Bitcoin cash is a cryptocurrency with increased transaction speeds.
Bitcoin cash was created as a result of Bitcoin hard fork on August the 1st 2017. It was made to address Bitcoin’s scaling issues. The biggest argument in favor of Bitcoin Cash is that it provides much faster transaction times than Bitcoin, with an average block time of only 2 minutes and 6 seconds. This is opposed to 10 minutes for BTC.
Bitcoin Cash has grown in popularity since its creation with the price per coin reaching over $2500 at the end of December 2017. At this point, BCC reached an all-time high, making it worth more than three times as much as BTC
What are the Key Differences Between Bitcoin and Bitcoin Cash?
Bitcoin cash is a hard fork of bitcoin, meaning that bitcoin holders at the time of the fork were given an equal amount of bitcoin cash. Bitcoin has an 8MB block size limit but bitcoin cash has a 32MB limit. The main difference between both coins is how they are mined – with the latter being more centralized.
Bitcoin Cash is a hard fork of Bitcoin, meaning that Bitcoin holders at the time of the fork were given an equal amount of Bitcoin Cash. There are mainly two key differences between both currencies: 1) Bitcoin has an 8MB block size limit but Bitcoin Cash has a 32MB limit; 2) The latter is more centralized than the former because it makes use of mining pools for transactions processing.
Bitcoin Cash is a cryptocurrency that was created in August 2017 in response to Bitcoin’s scalability debate. It is the world’s fourth largest cryptocurrency by market capitalization and has a bigger block size than bitcoin.
Bitcoin Cash offers lower costs, quicker transactions, and better storage efficiency than bitcoin in order to improve the speed, cost-efficiency, and scalability for transactions.
Bitcoin Cash vs Bitcoin:
– Bitcoin cash offers lower transaction fees than bitcoin
– Bitcoin cash has bigger blocksize than bitcoin which results in faster transactions
– Bitcoin cash is more energy efficient
How do you mine Bitcoin Cash?
Mining is the process in which new Bitcoin Cash transactions are confirmed and new blocks are added to the Bitcoin Cash blockchain. Miners use computing power and electricity to solve complex puzzles. By doing so, they gain the ability to produce new blocks of transactions. If one of their blocks is accepted by the network, the miner, or mining pool, earns a block reward in the form of newly-issued Bitcoin Cash.
Mining is highly competitive. As the price of Bitcoin Cash in the marketplace rises, more miners are incentivized to bring more hash rate into the ever-increasing miner competition to produce blocks and have them accepted by the Bitcoin Cash network. More miners make the network more secure by increasing and distributing the hash rate. This prevents a single miner from having control over the network.
Anyone can mine Bitcoin Cash. Mining requires specialized hardware called mining equipment, which can either be bought or rented. Miners also need to run a full node software (with the majority of miners currently running BCHN) to build blocks and connect to the rest of the Bitcoin Cash network. Mining can be done independently but miners often pool their hash rate together and share proportionally in the earned block rewards.
How & Where To Buy Bitcoin Cash (BCH) In The UK
Step 1: You need to Register for an account on Binance
Just to get you started and in this guide we are looking at how to get Bitcoin Cash (BCH) on Binance for you, so with this guide we will show you how to get your Bitcoin Cash (BCH) that you want through binance and use of BTC and ETH. This is because you cannot directly buy Bitcoin Cash (BCH) with your debit card, but its not difficult to get around this with a few different ways you can be all sorted.
To get started what we will need to do is a very simple step and that is we need to open an account with Binance.
Its really quick and easy to do, and you can open an account no matter where you live in the world with no restrictions and we recommend it as it has the most coin pairs.
Step 2: You need to then verify your account
Before you are allowed to start trading, you will have to get verified on the platform, the time taken can vary depending on the country you live in but in total it is a very quick process. And remember this process is actually protection for you, and keeps your account safe.
Step 3: Get BTC or ETH to your Binance account
We have a few options but basically we need to fund your binance wallet with ETH or BTC.
You can buy these both directly on binance using your debit card which you may like to do for convenience, bear in mind you will pay a small fee for this, but binance does have one of the cheapest fees out of all the exchanges at Now you’re ready to buy Crypto of your choice with your Visa card. Only pay a 1% card transaction fee instead of the usual 3% you see on other platforms.
You must choose the correct coin you want to from the list that you will see, and they will go into your wallet like below.
Step 4: Once you have the coin, find the correct pair.
Once you have the BTC or ETH which ever way you did it, you need to find the pair to trade this for you Bitcoin Cash (BCH) . Simple right? Yes it really is, just click trade, then on classic. And you will see a picture like below. Then all you must do it type BCH which is your Bitcoin Cash (BCH) . You will see many pairs come up potentially so you must click on either the Bitcoin Cash (BCH)/eth or Bitcoin Cash (BCH)/btc pair.
Optional, research the best time to buy.
We recommend looking on the charts and learning some simple TA, on macd, and RSI. With these tools you can figure out of its a good time to buy, you can set a buy order at a lower price also, if you feel the price may dip.
Step 5: Buy your Bitcoin Cash (BCH) on binance
So now you have clicked on the correct pair that you will be using you will be faced on your screen with the picture below. All you need to do is type the amount of XMR you wish to but with your funds. You can simple click 100% if you wanted to spend everything for example. You can have very flexible options with this.
Once you have chosen your amount you will need to click the green buy button and boom, you are all done.
