BitCoin Cash (BCH)
What is Bitcoin cash?
This is a major question asked especially by a newbie. Bitcoin cash can be described as a peer to peer electronic cash transfer via the internet. This cash transfer is fully decentralized without any central bank, and it also requires no third party to operate. Therefore, Bitcoin cash is a digital cash that can be used to cater to almost every financial need.
Is Bitcoin cash different from bitcoin?
The answer is yes. Bitcoin cash can be termed as the continuance of the initial Bitcoin project. It can also be said to be a fork of the Bitcoin block chain ledger. Block chain is a digital public ledger where all Bitcoin transactions are recorded. Additionally, Bitcoin cash has upgraded features which permit it to grow and scale compared to Bitcoin.
Who does Bitcoin cash work?
The best thing about Bitcoin cash is that you can get started with it without understanding all technical details behind it. The moment you install the Bitcoin wallet on your computer or the mobile device, it will generate you the first Bitcoin cash address, and you can also create more when in need. A digital wallet can be said to be an electronic media that permits you to carry out electronic transactions such as purchasing goods and services from the stores. Once this address is generated, you can showcase it to your friends so that they can use it to pay you and the vice versa. The Bitcoin cash procedure works closely to emails.
Benefits of Bitcoin Cash
The easiest bank account to open
With the Bitcoin cash, you are the bank. This means that opening an account is very easy. Additionally, opening these accounts do not require allot of personal details like nationality, age IDs passports and so forth. If you have full control of your money, then you have the economic freedom this is exactly what Bitcoin cash offers.
Gateway to other digital currencies
There are so many investors in Altcoin. However, for you to enter this market and enjoy all it has to offer you need to have some Bitcoin cash. Bitcoin cash in the digital currency is what the US dollar is to the fiat currency.
Team behind Bitcoin cash
When compared with the initial Bitcoin, there is no single team associated with the development of the Bitcoin cash. However, there are multiple and independent developers who have contributed to its well-being.