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.
You should be aware that the risk of loss in trading or holding cryptoassets can be very high. As with any asset, the value of cryptoassets can go up or down and there can be a substantial risk that you lose all your money buying, selling, holding or investing in cryptoassets. Our cryptoasset services are not within the scope of the UK Financial Ombudsman Service and your cryptoassets are not subject to protection under the UK Financial Services Compensation Scheme. You should carefully consider whether trading or holding cryptoassets is suitable for you in light of your financial condition.
Uphold Europe Limited (FRN: 900577) is registered under the Financial Conduct Authority’s Temporary Registration Regime for cryptoasset firms and complies with the Money Laundering, Terrorist Financing and Transfer for Funds (Information on the Payer) Regulations 2017 as amended. The purchase, sale and custody of cryptoassets is regulated by the FCA for anti-money laundering purposes but this does not indicate any approval by the FCA of Uphold’s cryptoasset activities. Uphold Europe Limited is also an EMD agent of Optimus Cards UK Limited which is authorised and regulated by the Financial Conduct Authority to issue e-money (FRN: 902034) pursuant to the Electronic Money Regulations 2011.
The e-money services are regulated by the Financial Conduct Authority. E-money is not a deposit or investment account which means that your e-money will not be protected by the Financial Services Compensation Scheme. User funds will be held in a designated safekeeping account with a regulated financial institution. E-money will not earn any interest. Additional Risk Warning in Uphold’s Terms & Conditions.
This content is correct as of September 2021
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