Buy Bitcoin Cash (BCH)
More than a decade of history of the emergence, development, rise, fall and new rise of digital currencies has clearly shown that the world seems to really need a new form of money - in addition to the usual cash and non-cash. What are digital currencies? Money, financial instrument or operating system? Do digital currencies have value? What risks do users of digital currencies bear? Is it possible to create on their basis a global cybernetic financial system that completely replaces the modern mechanisms of money creation and financial intermediation?
The main advantage of digital means is the ability to reduce the cost of transactions and involve the widest segments of the population in financial transactions. The strengths of electronic money include decentralized (distributed) management, which means that no entity controls the network; global access, which allows any user connected to the Internet to participate in the cryptosystem; security through cryptography, which protects the integrity of tools that, in the aggregate, endow their users with almost unlimited freedom of action.
In simple terms, electronic money is based on cryptography (the science of encrypting information). Any data transmission system, including banking, is built on it. The peculiarity is that the very architecture of digital coins consists of blocks in which you can put any information - blockchain. The technology itself implies absolute transparency and openness of information to all people.
Now ordinary users use digital money to increase their profits.
What is Bitcoin Cash (BCH)?
The digital currency Bitcoin Cash was created as a hard fork of Bitcoin. It happened in the summer of 2017, and this event became one of the most scandalous and memorable in the world of electronic money, as the community was divided into two camps. The main disagreements concerned the size of the block - in Bitcoin Cash up to 8 MB, against 1 MB for Bitcoin.
Bitcoin Cash is an open source coin. It is a trusted currency available worldwide that continues the idea of bitcoin as a peer-to-peer e-currency. Users and entrepreneurs have already appreciated its main advantages: low commissions and secure transaction confirmation. Unlimited growth prospects, global acceptance, open source innovation and distributed development all make Bitcoin Cash the money of the future.
According to the developers, the main goal of creating the Bitcoin Cash cryptocurrency is not only to eliminate all the shortcomings that Bitcoin has, but also to increase the value and significance of the coin in the cryptocurrency world.
The whole strategy of the Bitcoin Cash team is aimed at increasing the block size in order to enable its users to make more transactions with minimal time.
Bitcoin Cash has its advantages:
- Speed. Transaction in seconds. Confirmation in minutes.
- Reliability. The Bitcoin Cash network operates without congestion.
- Low commission. The minimum commission for transferring to anywhere in the world.
- Simplicity. Using Bitcoin Cash is very simple - you will not have any problems.
- Stability. The Bitcoin Cash payment system is a proven way to store money.
- Safety. The world's most trusted blockchain technology.
How does Bitcoin Cash work?
Unlike Bitcoin, which uses SegWit technology, Bitcoin Cash uses SigHash technology to verify transactions. Using this algorithm protects the network from the most common problem faced by post-fork digital currencies - replay attacks (replay attacks).
The SigHash algorithm recognizes duplicate transactions and makes them invalid, thus providing users with confidence in the security of transactions on the network.
In addition, the electronic asset Bitcoin Cash continues to follow the path of increasing the block size, so in May last year the limit was raised from 8 to 32 MB. At the same time, the transaction processing time in the BCH network is only 2.5 minutes, which is much faster than many other digital assets.
But here it is important to note that the current value of the original bitcoin is significantly higher, and its blockchain processes dozens of times more transactions daily. Therefore, it is difficult to say whether large blocks will be as effective as they are now, under equal conditions.
What makes Bitcoin Cash unique?
Bitcoin Cash certainly has a great future in the digital currency market. However, in order to catch up with its older "brother", Bitcoin Cash must increase its own attractiveness among users. Now, most crypto investors relate to BCH as an imperfect clone of bitcoin, although, in fact, bitcoin cash is much better than bitcoin from a technical point of view.
If Bitcoin changes the difficulty of blocks every 2016th repetition, then Bitcoin Cash has this procedure every 6 blocks. This approach should eliminate user concerns about the security of the digital currency.
Bitcoin Cash meets all modern requirements of digital currencies: security, high transaction speed and decentralization. In general, BCH is worth buying for the long term, because in the future this electronic asset can give a lot of X's.
How to buy BCH?
An important point that needs to be taken seriously is the purchase of BCH coins. It is necessary to consider all possible options on how to buy BCH (Bitcoin Cash) and choose the method that is most suitable for a particular user.
First you need to consider the safest way, and that is the purchase of Bitcoin Cash with the help of an exchange. You need to find a more suitable one, recommended among other users.
The purchase process goes like this: an investor or trader chooses an exchange that suits his requirements and passes registration and verification on it. This process is mandatory in order to protect the personal data and funds of users from fraudsters. Then you need to select a digital currency from the list and make a purchase. After the user withdraws electronic money from the exchange and disposes of them as he wants.
There is a list of recommended exchanges that have low commissions and fast transactions with Bitcoin Cash coins:
A faster way to buy Bitcoin Cash in Qatar is through online exchanges. Online exchangers are not safe, but they are still very popular among traders and investors. The online exchanger does not require registration, which saves time for users. Also on the sites of exchangers, the investor can choose the most favorable exchange rate for the desired digital currency.
There is also a way to buy Bitcoin Cash from a friend, then the price is negotiated individually and there is no commission. But the person from whom the user makes a purchase should be well known to him, it is desirable that this be a relative whom the investor trusts.
Where to store BCH?
Before buying electronic money, the user needs to think about where to store their digital funds. Since the digital currency does not have a physical body, special crypto wallets have been developed for it. Their essence lies in the storage of system keys that give the user access to their own digital currency.
There are many types of wallets for storing electronic funds, some are designed for long-term storage, and some are for permanent transactions. From the huge selection among different types of wallets, there are some that are better suited for storing and transacting Bitcoin Cash coins:
• IQ Wallet;
• Coinpayments wallet;
• Trezor wallet.
How to invest in Bitcoin Cash?
From the very beginning, even before buying coins, an investor or trader should think about what kind of investment he wants to do.
The first option is how to invest in Bitcoin Cash, in the long run. For this type of investment, it is necessary to use the fundamental analysis of the digital currency. The bottom line is to buy an asset and keep it in the wallet for a long time until the amount for which the user purchased the digital currency increases several times. After that, the user sells the digital currency and receives the price difference.
This method is safer, but it may take more than five years for the user to wait for the desired result.
The second option, how to invest in Bitcoin Cash in Qatar, is considered the most common among investors and traders, it is called CFD.
This method can be used on trading platforms that provide access to the exchange online, these are platforms such as IQ Option. The bottom line is to register on the site and make a deposit for trading. After that, using the analysis of the price movement of the asset selected by the user, you can open a deal to buy or sell.
It works like this: the investor knows that the price of the digital currency will fall in 2 days, for example, by $5. Now the value of the asset is $15, and given this data, the user opens a deal for sale. If the next day, the price falls, then the investor will receive the price difference in the amount of 10 dollars. In the same way, "contact for the price difference" works when the price rises.
The main thing in this method is to understand the analysis of price movements and be able to use technical analysis tools called indicators. With this investment method, a trader or investor can earn daily or weekly profits. And the most important plus is that having a small deposit, with the help of proper trading, it can be gradually increased.