Here's All About Bitcoin Cash (BCH) (BCC)

What Is Bitcoin Cash?

Bitcoin Cash was made on August 1, 2017 when Bitcoin, which can be considered the most popular crypto currency in the world, is split into two directions in an event known as 'hard fork.' Bitcoin owners prior to this separation are entitled to get Bitcoin Cash of the same amount, so basically there is a division with a 2-1 ratio. Bitcoin Cash symbol is BCH.

How does Bitcoin Cash appear?

Before starting on Tuesday 1 August, the presence of Bitcoin Cash is initiated by a community or group of miners who have transaction authority, developers, investors and Bitcoin users, activate Hard Fork, or more fully called User Activated Hard Fork (UAHF) through Bitcoin Improvement Proposal (BIP 91), to break the Bitcoin software base code and generate a new currency, Bitcoin Cash. Through this UAHF, a group of miners breaks Blockchain into two lines.

The two-line splitting trigger is actually because Blockchain's capacity is limited to a maximum of 1 megabyte (MB) of data every 10 minutes. As the transaction increases, a larger blockchain capacity is required, such as those found in Bitcoin Cash, where Bitcoin Cash consists of 8 megabytes of "block" instead of 1 megabyte block, making it faster.

What Reasons for Separation?

The initiative is overseen by a small group of mostly Bitcoin miners from China who refuse to support a significant software upgrade aimed at speeding up transactions on the Bitcoin network.

What's The Difference Between Bitcoin Cash and Bitcoin?

Bitcoin Cash and Bitcoin are essentially very similar. The most important difference between these two coins is that Bitcoin Cash allows faster transaction time by using custom block sizes. Bitcoin Cash has block size with 8 MB transaction limit. Meanwhile, Bitcoin transactions are limited to 1 MB per 10 minutes.

How to Buy Bitcoin Cash?

Various crypto currency exchanges are still not one vote in favor of Bitcoin Cash. Some prominent marketing centers, such as Coinbase and Bitstamp, once said that their exchanges will not support or allow the trading of Bitcoin Cash. Currently, the leading exchanges that offer and support the new digital currency are Kraken (multinational), ViaBTC (based in China), and Bittrex (based in the US). XRP purchases can be made in various ways, ranging from cash, credit and debit cards, bank transfers, even with other crypto currencies.

How to Choose Bitcoin Cash Exchange?

There are a number of factors that need to be considered in choosing crypto currency exchange to start investing in trading. These factors include transaction costs, ease of access, liquidity conditions, reputation, transparency, and even the state of the exchange location. In the end, there is no wrong or correct exchange to start trading, but you are strongly advised to learn before proceeding.

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As with other cryptocurrency properties, which apply the law of demand and supply, the more demand the higher the price will be. Similarly, Bitcoin Cash. When many Digital Exchange platforms add to their Bitcoin Cash trade, such as in Kraken and Bittrex, the price of Bitcoin Cash jumps instantly. However, although Bitcoin Cash is already tradable on the exchange, it is still not possible to deposit or transfer Bitcoin Cash to the stock or to other users because the Bitcoin Cash network is not yet fully stable. Nevertheless, it is undeniable that Bitcoin Cash trading is currently flooding the market.