There are many things to know before investing in cryptocurrencies
There are many things to know before investing in cryptocurrencies but the key step to the whole process is choosing a good cryptocurrency to invest in. Bitcoin cash (BCH) has been fast grabbing attention as the improved version of Bitcoin, the top cryptocurrency in the market. Bitcoin Cash was brought to the world of crypto by Roger Ver, and is the result of a Bitcoin hard fork. This means that it combines the best of both worlds: some old benefits of bitcoin while introducing some stellar changes in this cryptocurrency. It is fast becoming loved by investors for a number of reasons. Here’s taking a look at 7 reasons why you should invest in Bitcoin Cash right now.
1. Increased Block Size and Efficiency:
While Bitcoin has a maximum block size of 1 MB, Bitcoin Cash has a maximum block size of 8 MB. This makes it better at handling transactions with ease, but at the same time it retains the qualities that made Bitcoin a crowd favourite in the crypto world.
2. Lower Transaction Fee:
Bitcoin cash has a rather low transaction fee which makes it more likely for vendors to adopt it and promote its usage. This makes Bitcoin Cash more lucrative by boosting possibilities of price rise due to demand.
3. Large Exchange Adoption:
Having a large number of exchanges that trade in Bitcoin Cash helps to make sure that trading in this cryptocurrency anytime you wish to becomes increasingly convenient. Quite a lot of top cryptocurrency exchanges have listed Bitcoin Cash as one of their tradeable virtual assets and this list includes exchanges such as BitFinex, DigiFinex, Binance, Huobi, YoBit, IDCM, IDAX, CoinTiger, CoinSuper, Gibraltar Blockchain Exchange and so on.
4. Anonymity:
Bitcoin Cash, much like Bitcoin, offers a great degree of anonymity in transactions. You can buy and sell and make good of your investments easily without having to reveal any personal or sensitive information. This makes sure that your transaction remains secure and private.
5. Replay and Wipeout Protection:
Bitcoin Cash itself was created by a hard fork of Bitcoin (BTC) so it has been developed in such a way that it remains smooth and efficient even in the case of a split. If it does split, they have a good replay and wipeout protection plan in place for the two chains. This will make sure that the transition is non-disruptive and convenient.
6. Sophisticated Technology:
Bitcoin Cash becomes a better coin to use, and therefore to invest in (owing to increased demand) because it has managed to replicate a lot of Bitcoin’s advantages while still doing away with a lot of its flaws. One example is the elimination of the common problem of quadratic hashing.
7. Increased Security:
Users can get a bang for their buck only when they can keep it safe. Investors are often plagued with the problem of keeping their crypto holdings safe. While there are many ways to secure your crypto wallet, BCH makes it slightly easier by allowing input value signing to make it easier to secure hardware wallets.