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Learn more about Bitcoin Cash
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Bitcoin Cash (BCH) price has declined today.
Bitcoin Cash (BCH) is priced at $414.86 today, with a 24-hour trading volume of $535,206,261.03. It is reflecting a 2.79% decline over the last 24 hours and a 12.89% decline over the past 7 days. With a circulating supply of 19.70 Million BCH, Bitcoin Cash’s current market cap is at $8,172,682,231.44.
Understanding Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is an electronic cash system that aims to be a reliable global currency with fast transactions, low fees, privacy, and a larger block size than Bitcoin.
Bitcoin Cash was created as an alternative to Bitcoin (BTC), the first and most valuable cryptocurrency. In 2017, developers modified the BTC code, resulting in a software version and a new competitive product that split Bitcoin into two blockchains: Bitcoin and Bitcoin Cash.
This hard fork split occurred due to disagreements within the Bitcoin community regarding scaling and the SegWit upgrade. Another hard fork in 2018 divided Bitcoin Cash into Bitcoin ABC and Bitcoin SV.
The scaling debate involved two sides: small block supporters who opposed increasing block size due to concerns about blockchain centralization and large block supporters who advocated for a faster solution to prevent rising transaction fees from hindering growth.
Founders of Bitcoin Cash (BCH)
As the popularity of Bitcoin grew, the network experienced slower processing times and higher fees.
In 2017, mining hardware manufacturer Bitmain proposed a hard fork that increased the block size limit, resulting in the creation of Bitcoin Cash on August 1 of the same year.
Bitcoin Cash has faced challenges and milestones since its inception, including the November 2018 hard fork that led to the creation of Bitcoin SV.
Disagreements within the Bitcoin Cash community regarding proposed protocol changes caused the emergence of competing implementations, with Bitcoin ABC continuing as Bitcoin Cash and Bitcoin SV becoming a separate cryptocurrency.
How Bitcoin Cash (BCH) Works
Bitcoin Cash (BCH) offers faster transactions and lower fees due to its larger block size. It also supports smart contracts and ecosystem apps.
With a total supply of 21 million coins, Bitcoin Cash is scarce and can be easily spent like physical cash. Transaction fees are typically less than a tenth of a cent, enabling new micro-transaction economies such as tipping content creators and rewarding app users.
Bitcoin Cash also reduces expenses and settlement times for remittances and cross-border trade.
Differences Between Bitcoin Cash (BCH) and Bitcoin
Some supporters view Bitcoin Cash continuing Satoshi Nakamoto’s vision for peer-to-peer electronic cash. If you held Bitcoin during the fork, you also received Bitcoin Cash.
Technically, Bitcoin Cash resembles Bitcoin, having a 21 million coin cap and using a Proof-of-Work consensus. But Bitcoin Cash focuses on global payment scalability by increasing its block size.
This boost allows for many more transactions every second while keeping fees low.
By 2023, Bitcoin Cash has expanded its block size to 32MB, while Bitcoin remains at 1MB.
Similar to Bitcoin, the maximum supply of Bitcoin Cash is 21 million coins. As of October 2023, there are 19,517,894 BCH in circulation.
Read our guide on Bitcoin vs. Bitcoin Cash to understand the two better.
Security of Bitcoin Cash (BCH)
Bitcoin Cash, like Bitcoin, relies on a Proof-of-Work consensus mechanism for security. Miners solve complex puzzles to validate transactions and create new blocks, securing the network.
Mining Bitcoin Cash (BCH)
Mining involves confirming new Bitcoin Cash transactions and adding them to the blockchain. Miners use computing power to solve puzzles, and when the network accepts their blocks, they earn newly issued Bitcoin Cash as a block reward.
Mining is a highly competitive process. As the price of Bitcoin Cash rises, more miners are incentivized to participate, increasing the network’s security by distributing the hash rate.
This prevents any single miner from having control over the network.
Where to Buy Bitcoin Cash (BCH)
To buy BCH at the current rate, you can use popular cryptocurrency exchanges such as:
Most Used
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Binance is a great combination of low fees, deep liquidity and multiple cryptocurrencies and trading pairs. We have tested every aspect of it and it STILL holds its reign as the top exchange in the world. In our view, it is the perfect crypto exchange for both newbies and advanced traders alike.
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Biggest exchange in the world.
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Industry's lowest trading fees.
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Advance trading options like leverage trading.
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600+ crypto options, 150+ for the US.
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Lucrative on-site staking options.
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Hiccups in account verification.
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Less regulated than some competitors.
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The corporate structure is not transparently.
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Kucoin stands out among other crypto exchanges due to its impressive span of 1100 markets and 600 digital currencies. This, coupled with a user-friendly interface and secure investment environment, has made Kucoin an increasingly popular choice. However, US customers can not use the trading platform.
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Ability to earn interest on crypto.
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Low fees.
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Good customer service.
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Volume discounts on fees.
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Features like margin and futures trading.
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Not licensed in the U.S.
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Lack of investment programs.
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Low trading volume.
Coinweb’s Crypto Wiki can provide educational resources for those new to cryptocurrencies and interested in purchasing Bitcoin Cash.
Bitcoin Cash is a digital money system. It wants to be a global currency that has quick payments, low fees, privacy, and bigger block sizes than Bitcoin.
Bitcoin Cash was created in 2017 from Bitcoin. Developers changed Bitcoin’s code, creating a "hard fork" that split it into two: Bitcoin and Bitcoin Cash. They did this because of disagreements about how Bitcoin should grow.
In 2017, Bitmain, a company that makes mining hardware, proposed a change to Bitcoin, creating Bitcoin Cash. This was because as Bitcoin got more popular, it was slower and cost more to use.
While Bitcoin Cash and Bitcoin are similar and have a max of 21 million coins each, Bitcoin Cash has bigger blocks in its blockchain, allowing more transactions per second and keeping fees low. Bitcoin Cash has 32MB blocks, while Bitcoin has 1MB blocks.
You can buy Bitcoin Cash on various cryptocurrency exchanges, such as Binance, Coinbase, KuCoin, and Kraken.
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