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Bitcoin Cash, also known as BCH, is a cryptocurrency which differs from Bitcoin (BTC) and was a result of a hard fork from Bitcoin. But what is Bitcoin Cash exactly? Bitcoin Cash was created by a group of Bitcoin advocates who disagreed with the implementation of SegWit2x, a protocol initiated by influential miners and investors to increase the block size limit of Bitcoin. The problem with Bitcoin as it became more popular was that transactions took a longer time to process due to the 1 MB size limit for every block. As a result, Bitcoin Cash was created with a block size limit of 8 MB for lower transaction costs and times. The limit was subsequently increased to 32 MB in 2018.
Other than its block size limits, Bitcoin Cash also differs from Bitcoin in its hash algorithm. This means that if Bitcoin Cash splits from Bitcoin in future, there is a wipeout protection plan in place that will allow both chains to coexist without disruption to the owners of both cryptocurrencies.
If you are interested in trading Bitcoin Cash, you can easily do so with an efficient trading platform such as FameX. With FAMEEX, you will be able to check live prices in USD and AUD and trade live with our automated trading bots. With FAMEEX, you will be able to trade on both rising and falling prices without actually owning Bitcoin Cash by leveraging a trade. You can simply deposit a small percentage of the full trade value to open a position.
Rest assured our four-layer encryption protection mechanism will ensure the security of your transactions and data so you have a safe and secure platform for your daily trades. As the leading trading platform in Australia, we also comply with local regulatory policies and requirements.
Download our application to find out more about Bitcoin Cash from our technical and financial experts today.