A mobile cryptocurrency investing application, Abra announced on its websites that the app had added native bitcoin cash (BCH) support that will allow users to deposit and withdraw BCH directly. Anyone previously holding BCH in Abra can now withdraw the Bitcoin Cash to a hardware wallet and use it for making payments on a merchant site. The application also made it easier than ever to use BCH to invest in the ever-growing selection of cryptocurrencies in the Abra app.
In March, Abra announced its support for 70 cryptocurrencies as a real-time exchange service for every currency pair. In making this announcement, Abra presented a YouTube interview with BCH proponent Roger Ver.
Rover Ver Praises Abra
Ver commended Abra for supporting Bitcoin Cash and noted that one use for BCH is Purse.io. Purse.io is an online marketplace that applauds bitcoin use and innovation. It’s a platform that entitles people up to 30% discount from the e-commerce giant Amazon. Ver stated, “Everyone should use it for every single Amazon purchase”. He further added that BCH transactions are “super fast, super cheap and super reliable”.
Ver said, “Cryptocurrency should be usable as a currency”. According to his statement, a lot of people are using Bitcoin Cash than bitcoin as a store value. Since he is willing to spend BCH everywhere, later on, he would prefer it as a store of value.
Bitcoin Cash (BCH) Follows Original Bitcoin (BTC) Path
Roger Ver claimed that Bitcoin Cash is following the bitcoin’s 2009 to 2016 path. He said bitcoin’s “first user” advantage had been ruined as transaction fees got high by $50, though they are quite less than this at present. Furthermore, he noted that more than 200 tokens had been launched on BCH.
In order to increase the total number of bitcoin transactions on the Bitcoin Network by expanding its block size from 1 MB to 8 MB, Bitcoin Cash forked from bitcoin in August 2017.
Proponents of smaller blocks claim that keeping the block size small makes the network readily accessible to a large group of people. Also, increasing the block size needs more computation and specialised machinery. They also argue that an increase in computation may lead to centralisation.
Since bitcoin transactions became slow and expensive, Bitcoin Cash was then created to act as a better version of Peer-to-Peer Electronic Network. However, it has not overtaken BTC’s usage in commercial transactions so far.