- One of the top cryptocurrencies Bitcoin Cash (BCH) is the most popular hard fork of Bitcoin that aims to become an everyday payment tool. Also, it’s the fiercest rival of the largest cryptocurrency that takes every opportunity to stress that “Bitcoin Cash is the true Bitcoin”.
|Market Cap||Volume 24h||Circulating Supply||Maximum Supply|
|17,405,313 BCH||21,000,000 BCH|
Bitcoin Cash started as a movement that claims it wants to increase “confidence in cryptocurrency”, as Bitcoin has been criticized for slow transaction times, high mining fees and high energy consumption, factors that BCH's supporters feel it combats.
The cryptocurrency came into existence in August 2017. This birth of a new coin was the result of a long-standing disagreement on how to introduce changes to the original Bitcoin protocol in order to speed up its transactions and bring down their fees.
Increasing the original Bitcoin’s block size and modifying its format meant changing its original code, so Bitcoin Cash emerged as the result of this change, implemented through the hard fork. Changes to the code allow BCH to shorten the processing times of transactions and scale better with an increasing number of users.
During its first year the cryptocurrency became one of the top 5 biggest coins by market capitalization.
As of October 2018, it stands at USD 3.8 billion, compared to its all time high of USD 59 billion in December 2017.
Bitcoin cash coin is often confused with bitcoin due to the fact that it originated in the same community and has a similar name and logo.
Some see BCH as a sort of low-end substitute for Bitcoin and criticize it for being more centralized, which certainly does not help its popularization among merchants. Yet, the user community tries to help by pushing initiatives and lists of businesses that actually accept Bitcoin cash as a means of payment.
Also, there is an issue of bitcoin cash mining. You’d have to invest the same amount of money in the mining rig as you would for Bitcoin which is still much more valuable. Another option is to join a mining pool.
Buying it on cryptocurrency exchanges is yet another viable option as this coin enjoys fairly widespread support on the platforms such as Bittrex, Coinbase, Bitstamp and others. Also, one can look for a crypto ATM to buy some BCH.