Given its pioneer status, Bitcoin is the most successful crypto coin in history, but it is not without flaws. After discussions to correct the deficiencies of Bitcoin, the crypto community introduced Bitcoin Cash (BCH) as an upgraded model. BCH received a rousing welcome to the industry and has stayed afloat.
Let’s take a quick look at this coin!
Reasons Bitcoin Cash Deserves More of Your Interest
BCH is the most successful adaptation of BTC — thanks to the fact that it solves its predecessor’s problems (which other forks have failed to do). As proof, Bitcoin Cash sits among the top ten crypto coins in the industry and is a close competitor to coins like Ethereum and Litecoin, which is impressive since it’s the understudy of another coin.
Bitcoin Cash has several advantages over Bitcoin. The reasons to consider it include:
- Lower transaction costs: BCH charges are always fair compared to the deductions on BTC transactions.
- Faster transaction speed: BCH to BTC exchanges, or any other transactions, are completed more quickly.
- Improved scalability: BCH solves the problems of size and processing that characterized BTC.
- Easier to mine: BCH is easier to mine than BTC (that is, if the latter can be mined at all).
Where to Buy Bitcoin Cash
Bitcoin Cash can be purchased in various ways:
- Direct purchase: A direct purchase means you buy from a fellow user. This way requires trust, though. An escrow can be used.
- Crypto ATM: A crypto ATM works like a cash dispenser. With your login details, you can easily buy it at any ATM.
- Exchange: This is done on legal sites and does not require any form of trust. Just ensure you’re buying from a legal platform, e.g., Godex.io.
How to Store BCH
Crypto wallets are like the bank accounts you store physical cash in. Let’s review the various types of crypto wallets below:
A mobile wallet is a virtual wallet that is installed on your smartphone. This storage method is easily accessible, secured only from your end, and is the easiest way to transact. It’s usually used for a small amount of a cryptocurrency. Examples of mobile wallets are Edge, Coinbase, and Bitpay.
A desktop wallet is also online and is very similar to a mobile one, but the sole distinction is that this type is operated only on a desktop. Usually used for large capital, it is equally secure and fast but with the absence of mobility. Examples include Badger Wallet, Bitpay, and Bitcoin.com.
This is a wallet stored on a hardware device. Your login details are kept safe in a special physical wallet provided for it. Examples are Trezor and Ledger.
A paper wallet contains your login details and barcode. This paper has to be kept very safe.
BCH has recorded tremendous growth since its introduction to the industry because it solves the issues associated with BTC. There’s a faster transaction speed, cheaper transaction fees, better scalability, and you can mine it easily. These features explain why it sits among the top ten crypto coins today — making it the most successful BTC fork.
You can buy it from Godex and store your coins in several types of wallets according to your needs.