If you are still at the stage where you are asking yourself What is Bitcoin Cash, then maybe it is not the right investment for you right now.
But if you are aware of the cryptocurrency and its recent position in the market, this piece might help you gain some more perspective on whether or not is a good investment to make.
Bitcoin Cash is a cryptographic currency that came into existence in August 2017, from a fork of Bitcoin Classic.
The outspoken evangelist Roger Ver has been really vocal about the how profitable it is to invest in Bitcoin Cash and how it is better than its competitor, Bitcoin Satoshi Vision. The two are currently fighting it out in the market to emerge on top of each other.
Though BCH is leading the race at the moment, but BSV is determined to turn the tables around. The question remains, Can Bitcoin SV surpass Bitcoin Cash?
You May Also Read: What is The Future of Bitcoin Cash and Bitcoin Gold?
Features of Bitcoin Cash:
Bitcoin Cash has managed to increase the block size of the original Bitcoin block from 1MB to 8 MB. This will ensure that transactions get validated and processed faster.
The scalability of the Bitcoin Cash network is much better than original Bitcoin’s. Additionally the transaction fees is also low.
It has managed to put in place impeccable security mechanisms against replays or wipeouts which softened the impact of the November Hard Fork.
You May Also Read: How to Sell Bitcoin Cash?
Why Invest in Bitcoin Cash?
The Pros and Cons of Bitcoin Cash are pretty skewed. The advantages are far greater than the disadvantages attached to the coin. Roger Ver was quick to comment on the future of Bitcoin Cash and said,
“Looking at the long-term, the future is brighter than ever; there is more adoption, there is more awareness, and there is more stuff happening across the globe.”
The cryptocurrrency has however just lost out its spot to Ethereum, as the fourth largest cryptocurrency in the world. Right now, investor faith is low in Bitcoin Cash and that could also adveresely impact its standing in the market. At the time of writing, it has slipped majorly down the ladder and is sitting at the 8th position on the charts.
With such conditions, or rather we should say despite such conditions, BCH is going strong in the market and trying to maintain its gains.
However, it might not be a great time right now to bet on Bitcoin Cash (BCH), considering it could slip further down the ladder due to low investor faith in the cryptocurrency.
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