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.
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.
Eager to buy Bitcoin cash (BCH) but not sure how? No worries! Bitbuy is the simplest and most secure platform to buy Bitcoin Cash (BCH) from. Bitbuy always ensures the lowest associated fees and highest security when buying, selling or trading cryptocurrency.
Investors can easily invest in Bitcoin Cash (BCH) by creating an account with Bitbuy, adding funds to their account directly through e-Transfer or bank wire and buying Bitcoin Cash (BCH) directly through the Bitbuy platform. Experience problems or need questions answered along the way? Do not fear, Bitbuy is here. Our customer success will ensure your investment journey is smooth throughout.
Buying Bitcoin Cash in Canada as well as other digital currencies is simple and secure with Bitbuy. Here is how it works:
If at any point you need help signing up, verifying your account, adding funds, or buying and selling Bitcoin, just contact customer support for same-day assistance.
Bitbuy is one of the best and most secure places to buy Bitcoin Cash (BCH) in Canada. Here is why:
Every transaction you make on Bitbuy is encrypted using SSL (Secure Socket Layer) technology with two-factor authentication solutions implemented throughout. Bitbuy operates with a 99% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Here at Bitbuy, it is crucial users know that their digital assets are is safe with us.
Bitbuy offers some of the lowest buying and selling fees in Canada. You can check out our trading fees and processing times before you buy Bitcoin Cash (BCH)
Buying cryptocurrency directly from individuals is slow and risky. Cryptocurrency exchange platforms like Bitbuy make the process faster and far more efficient.
We pride ourselves in our exceptional customer support which sets us apart from other digital asset marketplaces. Simply submit a request under Bitbuy Support to be paired with one of our experts. We believe that exceptional customer support is an essential part of simplifying cryptocurrency for everyone.
Interac e Transfer is the most popular way to pay online in Canada. Canadians want to buy Bitcoin Cash (BCH) with Interac, but banks do not make it easy. Bitbuy exists to simplify the process when you want to buy Bitcoin Cash (BCH) in Canada with Interac. You can use your bank account directly to fund your Bitbuy account, which you then use to buy and sell cryptocurrencies in Canada.
Looking for a place to store your BCH? Bitbuy is the perfect place to start. Bitbuy has a built in wallet in each user’s account that you can use to store your BCH safe and securely.
Website (instructions for the mobile app below)
When you log into your Bitbuy account you will be automatically directed to the ‘Accounts’ section of your account. Click 'Express Trade' located at the top of the page if you are already logged in. To institute the trade, click the 'Sell' button which will appear in red.
Click the drop-down and search BCH to begin the sale.
Enter the amount of Bitcoin Cash (BCH) that you wish to sell. The dollar value of your sale will be displayed below under ‘Transaction summary.’ When you are ready, click the 'Sell' button to complete the transaction.
Sign into your Bitbuy account and you will be automatically directed to the 'Accounts' section. If you are already logged in, click on 'Accounts' in the bottom right corner of the navigation bar.
Locate BCH and click on the 'Sell' button.
Enter the amount of BCH you wish to sell. The value of your sell will be displayed at the bottom of the page. When you are ready to continue, click the 'Place Sell Order' button to complete your transaction!
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Quickly find the answers you need in our support centre, or contact a member of our team 24/7/365, and we'll be happy to assist you.
Bitbuy was designed for both new traders seeking a simple interface and for advanced traders who know their way around the crypto world. We understand that getting started with cryptocurrency can seem a little daunting and our goal is to make the process easier for you.