Buy Bitcoin Cash (BCH)
Over the past few years, the popularity of digital currencies has become so great that the words "bitcoin", "ether" or "mining" can be heard from people who are very far from the world of cloud technologies. Investors and traders are also actively entering the digital money market, preferring it to traditional stocks, securities and deposits.
Digital currencies are a very risky asset: the price can change by several percent a day, and it is difficult for an unprepared person to predict the direction of its movement and profitability. But some investors invest part of their money in electronic assets in the hope of multiple growth or are looking at such assets.
Many people are interested in the topic of electronic money mainly in terms of investment and the opportunity to earn "easy money". But investing in digital currencies, you can lose much more than in other markets.
But despite this, digital money is considered the most profitable investment instrument, and today it is they who come out on top. The main reason for this is the high volatility of the market, which creates optimal conditions for earning. The key advantages of this investment direction are as follows:
- Application of innovative technologies
- Constant growth in the value of electronic assets
- The regularity of the emergence of new types of digital currencies
It is also important to remember that in order for investments to bring a good income, it is necessary to choose the right type of electronic money. To do this, there is a fundamental analysis of the market. With it, a trader or investor can determine which currency is better to use for investment.
What is Bitcoin Cash (BCH)?
In August 2017, Bitcoin had forked. It was divided into two parts: Bitcoin, which users have known to this day, and its new version "Bitcoin cash".
Bitcoin cash (BCH) is a hard fork of Bitcoin, in fact it is the same Bitcoin with the same Blockchain and history, but with new rules.
The Bitcoin community could not come to a unanimous opinion on how the most popular digital currency should develop further. Therefore, there was a division into two branches. Bitcoin Cash was supported by miners and part of Bitcoin developers and brought it to a high level, among other electronic money.
The creator of Bitcoin cash is Amory Sechet. It is known that he is a former Facebook programmer from San Francisco.
Bitcoin Cash was intended to solve the scalability issues of Bitcoin. As some events show, he copes well with this task. Among these events are:
- instant appearance in the top 5 digital currencies
- second rate after BTC
- support from various projects
- positive feedback from users
Separately, it is worth highlighting transactions that are processed faster in the BCH network today. It is only twisted around the block size, which is 1 megabyte for the “original” blockchain, and 8 for the hard fork. Thus, the average number of transfers per second for BTC is only 4, and for BCH - 65. Due to this, Bitcoin Cash has a commission below.
What makes BCH unique?
The technology behind BCH is exactly the same as BTC. The digital currency has a blockchain that acts like a ledger and records every transaction. As with BTC mining, miners use powerful computers to solve complex mathematical problems to validate transactions and thus add new blocks to the block chain. For this, miners are rewarded with digital currency.
Given that hard forks are less popular among users than their original versions, Bitcoin cash has received good reviews from investors and traders. And as you know, where there is demand, there is supply.
Interestingly, after increasing the block to 8 MB, the system was never so overloaded that it would actually use its feature.
How to buy BCH?
The purchase of digital currency must be approached responsibly. An investor or trader should choose only safe buying methods that can be used in the future without worrying about hackers and scammers.
To safely buy Bitcoin cash, the user only needs the Internet and a computer. It is also important to choose a convenient way of buying that meets the requirements of an investor or trader.
Experienced traders are advised to consider only a few options for acquiring digital currency that allow you to buy BCH, and these are such methods as:
- Online exchanger
- Directly from the owner of electronic money
To choose the most suitable method, you should familiarize yourself a little with each and choose the most suitable one for yourself.
When an experienced investor hears about buying on the exchange, he understands that this is the best option of all offered, since the level of security of buying on such sites is considered the best on the market.
In order to buy Bitcoin cash on the exchange, you need to choose the platform that supports this currency. The most popular and reliable in use are such exchanges as:
To make a purchase, the user needs to register and verify, and after that proceed to the selection of the transaction. An investor and a trader should definitely familiarize themselves with the commissions, you can even compare them on several exchanges and choose the most suitable one, individually.
With the growth in the number of transactions with digital currency, the number of exchange offices is rapidly increasing. There are more than a thousand sites on the Internet that are ready to help with conversion. Exchangers provide services for the rapid exchange of various altcoins among themselves or for fiat money. Services work around the clock, and reserves allow you to make transactions for large amounts. This is exactly what an investor or trader needs to know if they want to buy Bitcoin cash through an exchange.
When choosing an exchange office, the user must make sure that he has a good reputation among investors around the world, for this you can read the reviews on the Internet. Also, registration is not required on such sites, and transactions are fast enough.
The latter method is based on an exchange between familiar people, then the transaction fee will be small and the users themselves can agree on a rate that is beneficial for both.
Where to store BCH?
In order to store digital currency, there are special crypto wallets. Their work is based on the storage of special keys that provide access to the blockchain, where electronic money is actually located.
There are many different storage options for digital currencies, but you should choose them based on the reason for which the purchase was made. For example, if a user is interested in long-term investment, then wallets for long-term and reliable storage are suitable for him, and if an investor makes many transactions, then a wallet with the necessary functions should be chosen.
There are several wallets for BCH that have already proven themselves among users of this currency:
1. IQ Wallet
Choosing a reliable way to store your assets is not unimportant, so the user should take a quality approach to this issue.
How to invest in BCH?
In order to invest in Bitcoin Cash, the user needs to decide what results he wants from his investments and this is the most important criterion.
There are several ways to invest in Bitcoin Cash, it is worth considering both of them in more detail to understand.
Thanks to the first method, an investor or trader has the opportunity to receive daily income. For it, you need to use a trading platform, such as IQ Option, which allows an investor or trader to gain access to the exchange. Registration is required on the platform, which will take only a few minutes.
After registration, an investor or trader needs to open a trading terminal and, based on the technical analysis of the market, make a purchase or sale.
The bottom line is that the user, with a correct analysis of the price movement, has an idea of its future movement and makes a deal according to the direction of movement. Thus, after closing the transaction, the investor or trader receives the difference between the price of opening the transaction and its closing. This investment method is called CFD trading.
This method is quite popular in the world of digital currencies, it attracts traders and investors with its convenience and practicality. After all, with its help you can receive income regularly, while making a minimum investment and allowing you to devote as much time to investing as the user can afford.
Another investment method is based on buying a large number of coins and holding them in the wallet for a long time, in anticipation of a large price increase, in order to sell at a higher price.
This method can take a very long time and is therefore less popular among investors and traders.
When it comes to investing in Bitcoin Cash, the user must study this digital currency well and correctly determine their priorities in order to achieve their goals, then you can be sure that everything will work out and the capital will increase without loss.
QUESTIONS AND ANSWERS
Is Bitcoin Cash (BCH) a Good Buy?
Undoubtedly, BCH can be considered a good buy, as this digital currency is quite popular among users around the world.
Is Bitcoin Cash (BCH) a good long-term investment?
If an investor or trader has the ability to wait until his investment increases, then Bitcoin Cash is a good option for investing for a long period of time.
Why does the price of BCH fluctuate constantly?
All this is due to the high volatility in the market, thanks to these fluctuations, the user can have a constant income on the contact of the price difference.