Buy Bitcoin Cash
About Bitcoin Cash
Bitcoin Cash is a top 10 cryptocurrency, so an accurate price is available on many exchanges (like Uphold.com) as well as cryptocurrency price tracking websites.
Why does Bitcoin Cash exist?
Bitcoin Cash was ‘hard forked’ from the Bitcoin core code in August 2017 by a group of cryptocurrency miners and enthusiasts who were concerned about how slow Bitcoin was becoming.
Their new code design increased the size of the ‘blocks’ that form the blockchain from approximately 1MB per block to 8MB per block. This meant that more information could be processed at the same time, effectively speeding up the network. As BCH was given to holders of Bitcoin at the time of the fork (1:1), it has been incredibly popular with enthusiasts and investors alike.
How is the price of Bitcoin Cash determined?
Just like Bitcoin, there are 21 million Bitcoin Cash in total and less than that in circulation.
The price is determined by how much BCH people want to buy at any one time (Demand) vs how many are for sale (Supply). The price 'floats' between the prices that people are offering to buy BCH for (Bid ) and the price that BCH is offered for sale (Offer).
There are thousands of exchange computers around the world that calculate the price constantly.
What the bears are saying
- Bitcoin Cash is still slow: Bitcoin Cash is nearly 4x faster than Bitcoin (~25 transactions per second), but it’s still very slow when compared with XRP (at 1,500 TPS).
- Transactions require mining: With increasing concerns about its environmental impacts, Bitcoin Cash's energy-intensive computing may come under scrutiny in the future.
- Bitcoin Cash is a fork of Bitcoin: Bitcoin Cash was ‘hard forked’ from the Bitcoin code in 2017 and has since been ‘hard forked’ twice again. How many more times will it change?
What the bulls are saying
- Bitcoin Cash is a Top 5 cryptocurrency: Modeled on the #1 cryptocurrency, Bitcoin, BCH is showing incredible popularity due to its namesake.
- A long term hold: With increasing difficulty in mining and limited supply, growth over the long term could be significant.
- It’s a better Bitcoin: Bitcoin Cash was designed to be a faster version of Bitcoin and more in line with the original intent of Bitcoin’s creator, Satoshi Nakamoto.
How to buy BCH
With Uphold, you can set up an account, verify your identity and buy crypto with ease.
Here is how:
1. Go to Uphold.com and click ‘Sign up’
2. Enter your email address, phone number and your personal details
3. Tell us how you plan to use Uphold and provide some basic financial information (e.g., employment status and source of funds)
4. Verify your identity by providing an ID document and taking a ‘selfie’
… and you’re off to the races!
Just start trading.
Cryptoassets are very high risk, speculative investments. You should be aware and prepared to potentially lose some or all of your money. You should carefully consider whether trading or holding cryptoassets is suitable for you in light of your financial condition. Additional risk warnings are contained on Uphold’s Legal page.
May not be available in all jurisdictions.
This content is correct as of January 2022.
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