WHAT IS BIT COIN CASH?
Bit coin cash is a crypto currency, from a fork of Bit coin that was created in August 2017. Bit coin cash was created to accommodate a larger block size compared to Bit coin, allowing more transactions into a single block.
Later in November 2017 it split into 2 crypto currency
- Bit coin Cash ABC and
- Bit coin Cash SV (Satoshi Vision)
Despite their philosophical differences, both Bit coin and Bit coin cash share several similarities.
1 BITCOIN CASH = 36683.18 INDIAN RUPEE
HISTORY OF BIT COIN TO BIT COIN CASH:
Bit coin was meant to be a peer-to-peer crypto currency that was used for daily transactions. But over the years it became an investment vehicle instead of a currency. Its block chain witnessed scalability issues because it could not handle the increased number of transactions. The confirmation time and fees for a transaction was urged. It’s due to 1MB block size limitation for bit coin which results in queued transactions.
As a remedy to this situation Bit coin cash was proposed by increasing the size of blocks to between 8 MB and 32 MB, thereby enabling more transactions per block. “Bitcoin cash is the version of bitcoin that implemented an increase in the transaction capacity,”
DIFFERENCE IN BIT COIN AND BIT COIN CASH:
- Unlike bit coin, bit coin cash uses a separate hash algorithm which eliminates the possibility of a replay between the two block chains.
- Bit coin is difficult to beat in terms of price when compared to bit coin cash.
- Bit coin cash is well ahead of bit coin in terms of transaction speed.
- Bit coin cash has lower transaction cost than Bit coin.
BIT COIN CASH IN INDIA:
Binance is one of the world’s largest and best known crypto currency exchanges. As an Indian trader, one can buy Bit coin cash on binance.
As per reports, Bit coin cash worth will rise to $2000 by the year 2025.Supply of Bit coin is limited to 21 million.
IS IT A GOOD INVESTMENT?
Investing in bit coin is like a roller coaster ride. Bit coin Cash offers the potential for otherworldly profit but at the same time it has high risks and crazy price swings.
According to Visual Capitalist, Bit coin has crashed 80% or more three different times since 2012. Therefore today’s crypto crash is nothing new. No one knows the future, so no one can say whether Bit coin is going up or down in the near term. However, it is good to say the odds are high that the price of Bit coin will be higher following the next halving event, which is expected in 2024.
|Huobi Global||BCH/USDT||$ 448.22|
BIT COIN CASH PRICE CHART:
|24 Hour High||24 Hour High||Market Capitalization|
|476.98 USD||444.80 USD||8,632,223,279.93 USD|
If Bitcoin’s history teaches us anything, it’s to expect the unexpected. If Bit coin’s history teaches us anything, it’s to expect the unexpected. If you’re willing to hold a small position for the long term, then it is recommended to buy some Bit coin. But one mustn’t buy today hoping to get rich tomorrow.