Bitcoin is the most valuable and best cryptocurrency in the market, many investors are turning their attention to it. If you are taking your first steps to invest in it, then this idea might be confusing for you, as the popular sharing cryptocurrency named Bitcoin is Bitcoin Cash. Despite the similarity in name, various cryptocurrencies are different.
Experts agree that you should stick with bitcoin and Ethereum as investments for the long term, so important that you don’t have to confuse bitcoin cash and native bitcoin. Also, if you have decided to invest in cryptocurrency you should also take into mind to trade cryptocurrency .
Some basic information about Bitcoin Cash and Native Bitcoin:
Bitcoin —
It is a cryptocurrency that was founded in the year 2008 by an unknown person or group of individuals, Satoshi Nakamoto. This currency was used for the first time in the year 2009. Bitcoin is created by the mining process itself.
Bitcoin cash —
In addition to being a cryptocurrency, Bitcoin Cash is also involved as a payment network. It was made in the hard cut form in the year 2017 along with bitcoin. So that the number of transactions of any kind can be improved. Bitcoin Cash and Bitcoin were created by miners.
Information about transaction speed and transaction fee
Bitcoin Cash (BCH) is far ahead of Bitcoin (BTC) regarding transaction speed. It also lets you speed up purchase confirmations. Bitcoin Cash lets you have a lower average transaction cost as compared to Bitcoin. Due to the high transaction cost of bitcoin, it is facing trouble meeting the demand for bitcoin.
Buying bitcoin or bitcoin cash —
Investors should proceed with bitcoin itself, and the buying process has to be essentially the same.
Cryptocurrency Exchange Election —
through your bank or traditional brokerage
You cannot buy cryptocurrency; you can only buy it through a specific cryptocurrency exchange such as Coinbase or Gemini.
Add funds to account —
If you want to transfer funds to your cryptocurrency exchange, you will need to have your debit card or bank account in order to connect with the exchange.
Order: Following your payment method, you can place your order. You can also decide for yourself how much crypto you can buy. Most people buy fractional shares of the same coin because they are expensive. Store crypto to keep crypto in small amounts, you can keep it on your exchange. If you have a large amount of crypto, then you can also keep it in a crypto wallet, which will give you security.
Whether to buy bitcoin (BTC) or bitcoin cash (BCH)?
If you want to have a store of value, you can buy bitcoin. And if you want a transactional cryptocurrency, you can buy bitcoin cash. If you have been involved with cryptocurrency trading for a long time, you may prefer bitcoin as it is widely considered a new store of value that can rival even gold.
Final Thoughts
Bitcoin is the most popular and well-known type of cryptocurrency enjoyed in the market. This took everyone by surprise when it was launched as the first decentralized, digital currency to have a good hold around the world. As bitcoin became wider and more widely accepted, limitations were bound to arise. Developers were worried about bitcoin’s ability to meet its growing demand. Those competing solutions, splitting into factions, and the birth of Bitcoin Cash as an alternative currency have since been shown to increase processing transactions.
If you believe in bitcoin primarily for its investment potential, the rising value of bitcoin and its historical growth may suggest that the native currency is a good fit for your platform.
