In an ever-changing world, cryptocurrencies have captured everyone’s attention, and Bitcoin Cash (BCH) is one of the most talked about of them all. Since its debut, BCH has presented itself as an alternative to Bitcoin, aiming to address usability and performance issues. In this article, we take an in-depth look at what BCH is, how it has evolved and what the future may hold.
1. What is BCH?
Bitcoin Cash is a cryptocurrency that was created in 2017 to improve upon the limitations of the original Bitcoin. Scalability has been a major issue as the number of users trading with Bitcoin has steadily increased.
For example, in 2017, the bitcoin network could handle roughly 3 to 7 transactions per second, and transaction costs have risen to a high of $60 per transaction. With the introduction of larger blocks of up to 32 MB, BCH can process up to 116 transactions per second, which significantly improves speed and reduces transaction costs.
Thus, BCH is a viable solution for merchants who want a fast and inexpensive cryptocurrency for daily payments.
2 Where can I buy BCH in Romania instantly?
If you’re looking for a place to buy BCH fast in Romania, the Abarai platform is a great option. Here you can buy or sell BCH instantly, using different payment methods, such as bank cards (credit/debit) or transfers.
Abarai also offers a swap function, which allows you to quickly exchange other cryptocurrencies into BCH or vice versa. This is a convenient method to manage your cryptocurrency portfolio hassle-free.
3. When did BCH come into existence and who is the creator of BCH?
BCH was launched on August 1, 2017, following a fork of the Bitcoin network. This fork was led by a group of developers who wanted to solve Bitcoin’s scalability problems. Although BCH retains many original features of Bitcoin, its modifications are specific to its use as a payment instrument. Its creators include familiar names in the cryptocurrency community, such as Roger Ver and Jihan Wu.
About Roger Ver are numerous appearances in the public space, nicknamed “Bitcoin Jessus” he is accused by the US Department of Justice of tax evasion of almost 50M USD. The charges against him can be found on the official website of the US Department of Justice or by clicking here.
Jihan Wu is a Chinese entrepreneur and investor known for his significant contributions to the cryptocurrency and blockchain industry. He is also co-founder of Bitmain Technologies, one of the world’s largest cryptocurrency mining hardware manufacturers.
4. The price of BCH in recent years
The price of BCH has been extremely volatile. After launch, it hit a challenging high of $4,000 in December 2017. Then in 2018, it suffered a drastic drop, falling below $100 at times.
Since 2023, the price has stabilized between $200 and $800. This volatility attracts both seasoned investors and new enthusiasts. For example, in July 2023, the price of BCH jumped 20% in just two weeks, spurring talk about its growth potential.
5. BCH outlook
The future of BCH is closely linked to its widespread adoption and innovations in blockchain technology. The competition with other cryptocurrencies, such as Litecoin and Ethereum, and how it manages to grow are key factors. For example, strategies to partner with merchants could lead to greater use of BCH in everyday payments. Developers also continue to work on technical improvements that could bring a competitive advantage.
6. Which wallet should I use for BCH?
Each user should choose a wallet that suits their needs. Some popular options include:
Electron Cash: an easy-to-use wallet perfect for new users.
Bitcoin.com Wallet: allows you to store multiple cryptocurrencies and is extremely versatile.
Ledger Nano S: a hardware wallet offering a high level of security.
Choosing the right wallet will protect your funds and ensure a better user experience.
However, we still recommend going through the information on the official Bitcoin Cash website for a thorough briefing on this topic. The wallet information can be found here.
7. Key things to note
Scalability: BCH improves transaction speed and costs, making it a viable alternative.
Payment flexibility: Abarai makes the purchase and exchange of BCH affordable and fast.
The future of BCH
Bitcoin Cash is more than just an alternative. It’s a cryptocurrency that solves real-world problems, providing effective solutions for users around the world. Whether you’re an investor or a simple enthusiast, the potential of BCH cannot be ignored. Make sure you stay informed and carefully consider your options before investing.Very important! Don’t invest more than you stand to lose, do serious research and don’t be swayed by influencers or “crypto industry people” who promise huge profits !