Explore and compare Bitcoin Cash with the otherpopular digital currencies we offer below.
Bitcoin Cash is a late-comer to the cryptocurrency game. Bitcoin Cash came out of a fork from Bitcoin’s code with the intention of making cryptocurrency scalable and able to compete with the kind of transaction speeds that online payment giants PayPal and Visa offer.
To understand why Bitcoin Cash was invented, it helps to start with how Bitcoin transactions are processed. When you send Bitcoin to someone else, the pending transaction is included in the block chain. Transactions are packed together into blocks which are then confirmed by Bitcoin miners, who verify transactions in exchange for the reward of new Bitcoin being released. The block size of Bitcoin is only one MB, a security feature intended to lower the threat of DDoS attacks and spam. It also had the side effect of limiting transaction speeds.
At a time when Bitcoin prices were rising rapidly, transaction fees and times had grown out of control. It was no longer worthwhile to transfer smaller amounts of Bitcoin. As a result, Bitcoin Cash was created to make faster transaction speeds possible by scaling up the block size from one MB to eight MB. Faster transaction speeds and lower transaction fees make Bitcoin Cash a better cryptocurrency for small transactions.
Bitcoin Cash quickly became adopted by the mainstream. Within a day of its hard fork from Bitcoin, its market capitalization was third behind Bitcoin and Ethereum.
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Should you buy Bitcoin or Bitcoin Cash? It depends on what you’re looking for in a cryptocurrency.
Bitcoin Cash has several advantages over the original Bitcoin:
Bitcoin Cash is a better cryptocurrency for making small, regular transactions online.
As an investment, Bitcoin maintains superior investor confidence. Although Bitcoin Cash has reached the mainstream, the original Bitcoin continues to enjoy better name recognition and wider tradability.
As one of the best cryptocurrency currency exchanges in Canada, Bitbuy.ca makes it easy, affordable, and secure to buy Bitcoin Cash.
For more information on how to buy cryptocurrency in Canada, learn how Bitbuy.ca works and sign up for your account.
Security is at the core of our mission at Bitbuy.ca, which is why we encrypt every transaction with Secure Socket Layer Technology with two-factor authentication throughout. We also operate with a 95% cold storage reserve for all digital currencies, keeping reserves offline and safe from security breaches. We execute daily encrypted and distributed backups. You should feel safe about your digital currencies.
What makes Bitbuy.ca one of the best Canadian crypto exchanges is our customer support. Unlike like other exchanges, you can talk to a real customer service representative over email or over the telephone, usually on the same day.
You should be able to buy and sell cryptocurrency with confidence in the security of the platform. Buy Bitcoin Cash and other major cryptocurrencies here.
Every transaction you make on Bitbuy.ca is encrypted using Secure Socket Layer technology with two-factor authentication solutions implemented throughout. Bitbuy.ca operates with a 95% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Feeling safe that your digital currencies are protected is core to our mission.