How to buy Bitcoin Cash?

Updated: Mar 6, 2021

How to buy Bitcoin Cash?

Bitcoin Cash emerged from a Bitcoin transaction. The idea is that cryptocurrency should solve many of the problems that exist with Bitcoin. Among other things, many more transactions per second are possible with Bitcoin Cash. Things you have to consider on how to buy Bitcoin Cash; If you want to buy Bitcoin Cash you have to register with crypto exchanges. But you should make sure that the crypto exchange also trades Bitcoin Cash. Not every exchange allows you to buy Bitcoin Cash - for euros or dollars. At the largest crypto exchange in the world, Binance for example, all cryptocurrencies are only traded against other cryptocurrencies. In addition to the possibility of depositing dollars, you should also pay attention to how you can deposit the dollars. Some crypto exchanges only give you the option to transfer dollar credit to the exchange. However, since transfers are very slow, it can sometimes take a few days for the credit to arrive. It is faster if you can pay in the credit to the respective crypto exchange by credit card or PayPal. For example, Binance gives you this option.

Credit card companies easily process a few thousand transactions per second. At peak times it can even be 60,000 and more transactions per second. This shows how well payment systems have to work in order to be used for payments worldwide. On the other hand, the fact that Bitcoin can only carry out a maximum of 12 transactions per second is sobering. Because more information does not fit in the block, which is limited in size.

Bitcoin Cash tries to solve the problem by allowing a much larger block size from the start. The idea is simply to use cryptocurrency for everyday payments. It is not yet clear whether this approach will prevail. It should be noted, however, that it is a significantly different approach.

Buying Bitcoin Cash - Is It Worth Or Not?

It is difficult to predict whether an investment in Bitcoin Cash is worthwhile. Because all crypto investments have an increased risk because the crypto market is still at the very beginning. Compared to many other cryptocurrencies, Bitcoin Cash has a clear area of application as a digital currency. In general, anyone who invests in cryptocurrencies should invest their investment for a longer period of time and not be driven crazy by the fact that the price rises or falls every day.

Bitcoin Cash Came Up To Solve The Scaling Problem

Bitcoin Cash tries to solve the problem by allowing a much larger block size from the start. It is not clear whether larger blocks in the blockchain will be sufficient in the long term. So if you want to invest in Bitcoin Cash, you should not only hold Bitcoin Cash, but also the cryptocurrency for security. Because both cryptocurrencies are in direct competition with each other. A scenario in which only Bitcoin Cash will be successful and not is currently difficult to imagine.