Should you Buy Bitcoin Cash?
Bitcoin Cash is one of the top ten cryptocurrencies on the market. This cryptocurrency deserves to be in the attention of traders who want to invest in cryptocurrencies. You can buy Bitcoin Cash using the services of a reliable cryptocurrency broker such as Binance.
What is Bitcoin Cash?
Bitcoin Cash is a relatively new cryptocurrency, launched in August 2017. Bitcoin Cash has one of the largest market capitalization, although its launch has caused much controversy.
One of the reasons is that Bitcoin Cash is the child of Bitcoin. Bitcoin Cash was created as a division of Bitcoin, following intense debates in the Bitcoin community. In short, the size of the 1MB Bitcoin block has created problems in processing transactions. Because part of the Bitcoin team did not agree with SegWit technology, which should have solved this problem, they decided to increase the capacity of the Bitcoin Cash block to 8 MB.
Bitcoin Cash – Strengths and weaknesses
As a benefit to users, Bitcoin offers instant transactions, minimum trading fees, 24 transactions per second, and a capacity of millions of transactions per day.
Certainly, the new Bitcoin Cash blocks were no longer compatible with the basic Bitcoin blocks, but the technology used was the same, convinced many investors. After a hesitant start, Bitcoin Cash has gained its position among the most popular cryptocurrencies.
Another event that has contributed to the performance of Bitcoin Cash is the introduction of Coinbase and GDAX cryptocurrencies on trading platforms. The ability to buy and sell Bitcoin Cash on these platforms has increased confidence in Bitcoin Cash investments.
What is the future for Bitcoin Cash?
Bitcoin Cash has a high speculative potential, and the long-term evolution is impossible to predict, as in all cryptocurrencies. In the long run, the evolution of the Bitcoin Cash exchange rate does not only depend on the supply and demand on trading platforms; it also depends on whether the population adopts this cryptocurrency as a savings tool or as a daily payment method.
In this regard, to make Bitcoin Cash more attractive to the general public, the Bitcoin Cash team planned a new update for May 15, 2018, by increasing the block size to 32 MB and by integrating OP codes for the introduction of smart contracts. These new developments should allow Bitcoin Cash to process a higher transaction volume than the PayPal transaction volume.
This is an ambitious move, and the performance of Bitcoin Cash after this update will directly influence the future of this cryptocurrency. Some professionals say that this update has strengthened Bitcoin Cash, while others believe that this update is useless, a desperate solution to convince more users to adopt Bitcoin Cash.
Are you investing in Bitcoin Cash?
In the Bitcoin Cash vs. Bitcoin fight, only time will show which is the strongest cryptocurrency. It is impossible to make accurate predictions about the evolution of the Bitcoin Cash exchange rate. Like most cryptocurrencies, Bitcoin Cash is characterized by high volatility. However, compared to other cryptocurrencies that have been on the market for years, Bitcoin Cash has gained a respectable position among cryptocurrency traders.
