Bitcoin Cash, a fork from the Bitcoin network, is a cryptocurrency that exists within a separate ecosystem but possesses the same structure. It is known that early supporters of Bitcoin Cash, who led this split, like Roger Ver or Jihan Wu, were actually staunch supporters of Bitcoin in its early years.
What is Bitcoin Cash?
Known to have surpassed Bitcoin at one time with the support of Roger Ver, CEO of Bitcoin.com, BCH’s price surge was brief, and Bitcoin maintains its status as the leading cryptocurrency.
BCH, which separated from the Bitcoin network via a hard fork in 2017, is not much different from Bitcoin. The main distinction for BCH is the block reward, and its investor base also lies within the Bitcoin ecosystem. The reason for Bitcoin Cash’s split from the Bitcoin network was the rejection of the proposal by the team wanting to increase the Bitcoin block size to 8 MB. It is also known that Bitcoin Cash developers opposed the SegWit protocol and instead increased the block capacity.
Roger Ver claims that BCH offers a faster and cheaper transaction option compared to BTC, due to the absence of SegWit and the 8 MB block size. Although this claim has been verified a few times in the past, it can be said that it does not reflect the current situation accurately.
Still, Bitcoin Cash remains the fifth-largest cryptocurrency by total market value, with a worth of over 5 billion dollars. Even though the goal of BCH being faster and cheaper than BTC does not seem likely at the moment, the investor base of BCH continues to support the project.
According to data provided by Kraken, an average Bitcoin transaction currently takes 60 minutes, while an average Bitcoin Cash transaction takes 150 minutes. This indicates that the leading cryptocurrency is still superior in this respect. Nevertheless, the lower value of Bitcoin Cash and its shared infrastructure with BTC continue to increase the number of people interested in purchasing Bitcoin Cash.
So, should one buy Bitcoin Cash, and what needs to be done to purchase it?
Where to Buy Bitcoin Cash?
Purchasing Bitcoin Cash is as easy as buying Bitcoin. Bitcoin Cash can be bought through Binance, one of the world’s largest cryptocurrency exchanges by trading volume. Since there is no direct Turkish Lira to Bitcoin Cash purchase on Binance, it may be necessary to buy Tether (USDT) first.
After acquiring USDT by reviewing the article “How to Buy Tether Coin?” you can purchase Bitcoin Cash on Binance in the following way:
- Click on the “Buy-Sell” section in the upper left corner and open the “Classic” tab.
- In the opened tab, bring USDT to the “Convert” option and BCH to the “Target” option.
- Enter the amount you want to buy and click on the “preview conversion” option.
- If the information on the following page is correct, confirm the purchase.
Trading Bitcoin Cash
After purchasing Bitcoin Cash, similar steps can be followed on Binance for selling it. This time, enter BCH in the “Convert” section and the cryptocurrency you want to obtain in the “Target” section to proceed with the sale. Binance offers many BCH trading pairs and transaction options.
