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Bitbuy | Buy Bitcoin Cash
Is there more than one type of bitcoin in the cryptocurrency industry today? Not quite. One of the largest cryptocurrencies in the world right now is bitcoin cash, a medium of exchange functioning primarily as a payment system rather than a fundamental store of value. Does this mean users cannot buy and sell bitcoin cash? Let's get into the nitty-gritty of bitcoin cash and find out its use and purpose.
Bitcoin Cash: A PrimerThe blockchain technology is instrumental in bitcoin's success as it processes, verifies, and stores digital currency transactions. It has revolutionized both crypto and the digital economy. The problem? It is notably slow, particularly when it is compared to credit card transactions. As more people participate in the bitcoin economy, the wait times for transactions are slower.
Technology experts and crypto pioneers and developers ostensibly tried to alleviate this issue.
In July 2017, bitcoin cash was launched, releasing the first piece of software implementation a month later. It was designed by dividing the bitcoin blockchain and adjusting the size limit of each block that is added to the public ledger. They ensured that the amount of data requiring verification in each block is smaller, allowing for faster and cheaper transactions. Developers also worked to make the blocks of data larger, creating an environment where more information is processed at one time. Suffice it to say, bitcoin blocks are limited to one megabyte, and bitcoin cash blocks are up to 32 megabytes and counting.
This advancement sparked the interest of some of the most high-profile early bitcoin investors, like Roger Ver. By attracting more attention, the cryptocurrency will continue to grow over time.
Overall, bitcoin cash ignited the trend of creating new cryptocurrencies by forking the bitcoin blockchain. Still, even with new kids on the block, bitcoin cash remains the largest bitcoin fork in the sector today, and it is the 12th-biggest cryptocurrency, behind Uniswap and ahead of Litecoin.
The total supply is close to 19 million tokens, with an average transaction fee of $0.00645.
Has the technology behind bitcoin cash piqued your interest? Do you think it could become a major contributor to the crypto sphere? Well now may be the perfect time to jump out from the sidelines and dive into one of the most fascinating virtual currencies today.
Here is what you need to know about buying and selling bitcoin cash on Canada’s leading digital currency platform:
How to Buy and Sell Bitcoin Cash with Bitbuy
- Create your Bitbuy Account by sharing your email address and telephone number, and confirming your identity.
- Choose to deposit funds from any fiat currency of your choice, such as the Canadian dollar or the U.S. dollar. This money can either be transferred through Interac e-Transfer or a bank wire.
- After the money has been fully deposited into your Bitbuy account, you can explore digital currency to purchase and add to your crypto wallet from bitcoin to ether to EOS in the "Express Trade" section of your account.
Bitbuy customers can begin their cryptocurrency journey with as little as $100. The dollar value of the quantity of bitcoin cash that you are buying or selling will show up in your "Transaction Summary" section before finishing the process.
Experience any hiccups along the way? Get in touch with our dedicated and responsive customer service team!
Holding Bitcoin Cash on Our Secure Canadian Platform
Whether it is the tokens or the technology behind bitcoin cash, the bitcoin cash cryptocurrency is an intriguing prospect for novice and seasoned crypto investors alike. This marketplace is quickly evolving, so it’s easy to feel overwhelmed by the constant changes. However, with enough due diligence, an understanding of your limits, and use of our easy-to-use platform, you’ll feel confident in your decisions and excited about the growth opportunities ahead.