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 buy digital currencies in just 11 clicks - even if you don’t have an account yet.
Nothing could be easier.
Here’s how fast it is to get started:
1. Go to Uphold.com and click sign up.
2. Enter your email address and personal details.
3. Click the link we send you and create a password
… and you’re off to the races!
Just start trading.
This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice and before taking any action you should consult your own advisors. Note that digital assets such as cryptocurrencies present unique risks for investors. Please see our disclaimer regarding risks specific to holding digital assets before investing.
This content is correct as of October 2020
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