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About Bitcoin Cash

What is Bitcoin Cash?

Simply put, Bitcoin Cash (BCH) is a cryptocurrency, that came from Bitcoin (BTC). It is not the same currency and its technical implementation differs. However, like pizzas that can be served as dessert pizzas or savoury pizzas, they come from the same base. Bitcoin Cash was launched in August 2017 as a result of a hard fork of the original Bitcoin blockchain. The main motive of the fork was to increase the block size in the blockchain from 1MB to 8MB (then to 32MB) to facilitate faster transactions. This is often regarded by the Bitcoin Cash community as a faster and cheaper system alternative to Bitcoin (BTC) - but the debate remains. These aren’t all the differences between the two cryptocurrencies especially as developers continue to evolve their technology to encompass other areas beyond just the speed. Like a lot of cryptocurrencies or altcoins on the market, both communities are passionate and there are plenty of innovative projects bringing us closer to the digital financial future that we deserve.

Where did Bitcoin Cash come from?

Bitcoin Cash came from a desire to improve Bitcoin as a medium of exchange, rather than an investment medium. Following the Bitcoin community’s lack of consensus surrounding Bitcoin’s scalability, the blockchain split, resulting in the creation of Bitcoin Cash. 2017 spiked interest and resulted in the Bitcoin network becoming congested as adoption increased. This led to a backlog of transactions and increasing transaction fees, which wasn’t conducive to Bitcoin being used for everyday transactions. That’s when the scaling debate really took off.

How do I actually buy Bitcoin Cash?

The easiest way to do this is with a broker exchange. The most popular of these is Coinbase, as it’s great for beginners. You can buy Bitcoin Cash using your Fiat currency via credit/debit card or with your bank account. To make things even easier for you, we are going to give you a step-by-step guide on buying Bitcoin Cash with Coinbase! First, you will need to open a Coinbase account.

What is the difference between Bitcoin and Bitcoin Cash?

Like pancakes and waffles, these two cryptocurrencies share many ingredients but are different. Bitcoin Cash comes from the same mill as Bitcoin. They share the same white paper, the same supply, same mining algorithm and even have the same reward system. Both Bitcoin and Bitcoin Cash aim to be a worldwide accepted digital currency, but there are some important technical differences as both communities have differing views on their solution to scalability.

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