Cryptocurrency Bitcoin Cash (BCH): overview, price, rate, chart, forecast and prospects, where to buy and trade
Bitcoin Cash (BCH) is a cryptocurrency, a fork of Bitcoin, the purpose of which is to get rid of some of the shortcomings of its progenitor. In particular, the currency offers its users such advantages as secure transaction verification, low fees, open source innovation, unlimited growth prospects.
Everyone who had Bitcoins on their account at the time of block 478558 closing received a certain amount of Bitcoin Cash. Today it is one of the top currencies (fifth in terms of market capitalization).
See also: how to buy bitcoin cash
- 1 BCH token price to USD
- 2 BCH to USD chart
- 3 Information
- 4 Bitcoin Cash (BCH) to Tether (USDT) chart
- 5 Prerequisites for the emergence of BCH
- 6 2018 hard fork
- 7 Advantages and disadvantages
- 8 Technical differences from Bitcoin
- 9 Expert opinions
- 10 Wallets
- 11 Where to buy Bitcoin Cash
- 12 Is it smart to store BCH now
BCH token price to USD
|Name||Price||Market Cap||Supply||Change % (7D)||Performance|
|Bitcoin Cash \/ BCC BCH||
BCH to USD chart
Bitcoin Cash cryptocurrency performance as of June 20, 2019:
|Ticker||BCH or BCHABC|
|Current issue||17,847,939 BCH|
|Maximum emission||21 000 000 BCH|
|Blockchain Explorer||blockchain.com/; blockchair.com/; bch.tokenview.com/|
|Cryptoexchanges||Binance, Currency.com, EXMO, Cex.io, Bitmex, Huobi, FTX, OKEx, etc.|
Bitcoin Cash (BCH) to Tether (USDT) chart
Bitcoin Cash (BCH) to Tether (USDT) chart according to Binance exchange rate:
Prerequisites for the emergence of BCH
Bitcoin Cash was formed in the summer of 2017 as a fork of the original Bitcoin blockchain. The reason was the decision of the Bitcoin Core development team to implement Segregated Witness (SegWit), which provoked anxiety on the part of the bitcoin community. These people believed that the problems facing the BTC blockchain could not be solved with a simple implementation of SegWit or something similar.
Therefore, some developers, mainly from China, have proposed increasing the block size of Bitcoin, which would lead to faster and cheaper transactions. However, this proposal was received negatively. There was no guarantee that an increase in the block size could affect anything if the cryptocurrency stays on the same platform.
In the meantime, proponents of increasing the block size did not give up and were confident that the solution would work. They received public support, including from prominent figures in the crypto industry. As a result, on August 1, 2017, the Bitcoin Cash project materialized into a separate cryptocurrency.
At the moment, she is both praised and criticized. Skeptical experts remind that Bitcoin Cash is essentially no different from Bitcoin and operates on the same blockchain, uses the Proof-of-Work consensus algorithm and provides the same opportunities as the very first cryptocurrency.
Still, it cannot be said that Bitcoin Cash offers absolutely nothing new. Transaction fees are still lower here. Although it is understandable that this may be due to the small number of followers compared to BTC.
2018 hard fork
The Bitcoin Cash network is periodically updated, and November 15, 2018 was planned to be the date of the next update. However, the blockchain is designed in such a way that updating is possible only if a general consensus of all network participants is formed.
A few months before the event, a split was brewing in the community. Two development groups (nChain and Bitcoin ABC) could not come to a common denominator regarding the future development of the cryptocurrency. Therefore, as a result, two versions of the new software were released:
✅ Bitcoin Cash SV (BCHSV)
✅ Bitcoin Cash ABC (BCHABC)
But on November 15, everything went wrong – a team led by Craig Wright (Bitcoin SV) tried to attack the BCHABC network and generally behaved very hostile.
Most crypto exchanges did not like this behavior, which officially stated that they considered the coin to be unsafe and speculative.
As a result of active community support for ABC, this branch became the main one and now carries the BCH ticker. The second coin acquired the BSV ticker and now costs $ 200 less.
Advantages and disadvantages
✅ At the moment – very low commissions, several times less than Bitcoin.
✅ High transaction speed due to 8 block size increased.
✅ Listing on all major cryptocurrency exchanges.
❌ Low investor confidence due to the low degree of difference with Bitcoin.
❌ Low acceptance rate.
Technical differences from Bitcoin
The creators of Bitcoin Cash are aware of the weaknesses and have designed some security enhancements to address these weaknesses.
|Repetition protection||Bitcoin Cash uses a different hashing algorithm than the first cryptocurrency. Therefore, data playback between the two circuits is no longer possible.|
|Chain scalability||Bitcoin Cash technology makes it possible to increase the volume of blocks. It is currently 8 MB, but further increases are possible in the future.|
|Transaction signatures||A different transaction signature than Bitcoin|
|EDA, or emergency difficulty adjustment||The algorithm guarantees the stable operation of the chain in the event of a sharp increase or decrease in the number of miners, which affects the overall stability of the cryptocurrency.|
The essence of Bitcoin Cash does not differ from the original currency. There are no innovative features or development opportunities. Even the name Bitcoin Cash does not mean in any way that the network allows you to work with fiat, like, for example, Stellar. The maximum emission is the same as that of BTC – 21 million.
Dan Nathan, Founder of Risk Reversal Advisors: “Bitcoin clearly has technical problems, so I buy Bitcoin Cash and Ethereum, they seem to me to be the best alternatives.”
Roger Ver, renowned crypto evangelist and investor: “Bitcoin Cash is true Bitcoin and will surely have a large user base, capitalization and trading volumes in the future.”
Dr. Garrick Hileman of the University of Cambridge, who studies the history of economics: “BTC holders at the time of the fork received financial benefits from the emergence of Bitcoin Cash, and in addition, there are technical advantages – just see how successfully BCH works with 8 MB blocks.”
Ken Shishido, one of the main supporters of Bitcoin Cash: “The price of BCH will rise as it is adopted, when it is used to buy goods and services.”
Adam Back, UK Cryptographer: “In terms of long-term scaling, Bitcoin has an edge over Bitcoin Cash because the latter lacks the infrastructure to support tier 2 scaling.”
Michael Graham: “Bitcoin is the undisputed leader, which is impossible to overtake. While some say that Bitcoin Cash can do this, it certainly can’t be happening anytime soon. “
Brian Kelly, founder and CEO of BKCM LLC: “I believe both cryptocurrencies are promising. Bitcoin is more likely to be called an underlying asset, while Bitcoin Cash is a transactional currency. “
Bitcoin Cash is supported by many popular hardware and software wallets:
✅ Ledger. A hardware solution for securely storing keys for most cryptocurrencies.
✅ Trezor. Also a hardware wallet, a direct competitor to Ledger. Both options are approximately equal in popularity and functionality.
✅ Coinomi. High security mobile cryptocurrency wallet. Allows not only storing currency, but also exchanging it using Changelly and ShapeShift.
✅ JAXX. A multi-platform software solution that allows you to buy and sell cryptocurrency directly through its interface using ShapeShift.
Additionally, Bitcoin Cash can be stored in many other wallets or accounts maintained by cryptocurrency exchanges. The main thing is that the service provider has a good reputation.
Where to buy Bitcoin Cash
✅ The first option is on the exchange.
To buy Bitcoin Cash with cryptocurrency, choose any crypto exchange that you like and trust. For example, consider Binance as one of the most popular platforms.
Enter the site and hover the cursor over the “Exchange” menu item, then select the “Main” or “Advanced” terminal.
In the search box, enter the name of the ticker – BCH.
On Binance, this coin is referred to as BCHABC and is traded in tandem with Bitcoin and other coins.
Having selected this currency pair, all that remains is to create an order to buy or sell Bitcoin Cash of any of the available types (limit, stop limit, market).
If you do not have cryptocurrency and you want to immediately go to BCH, then Binance will not work – the site does not support fiat. Use, for example, the EXMO.me exchange.
Search for BCH and select which fiat currency you want to trade it with. There are even rubles.
Then, just below the chart, select and create the desired order type.
On the right, you will be able to create an order, and a little lower – select the leverage used in trading.
✅ The second way to buy Bitcoin Cash is to use a cryptocurrency exchanger. Kassa.cc is a good option. The advantage of exchangers is a large selection of currencies and payment systems, so it will not be difficult to purchase a coin in a convenient way.
It is enough to select in the left column what you are going to give, for example, Payeer, and in the left column – BCH. Then fill in the data in the form on the right and click “Exchange now”.
The exchange is carried out quickly – confirm your intention in a couple of clicks, and then wait a few minutes for the operation to be completed.
Detailed review: how and where to buy Bitcoin Cash.
Is it smart to store BCH now
In terms of market capitalization, Bitcoin Cash is now the fifth largest cryptocurrency in the world. As for the exchange rate, it is experiencing the same ups and downs as the rates of other currencies.
Unlike many coins that started at the same time with him, Bitcoin Cash is supported by all well-known and reliable exchanges – this makes it very liquid and, in case of urgent sale, allows it to quickly sell.
Overall, it can be recognized that Bitcoin Cash is a viable second reserve asset for any crypto investor looking to diversify their portfolio.