Bitcoin Cash

What are the Main Differences Between Bitcoin and Bitcoin Cash?

Many people are aware of Bitcoin and Cash cryptocurrencies. They are trading and earning massive amounts of money through these digital currencies. Everyone knows that Bitcoin was initially known and popular virtual currency, introduced by Satoshi Nakamoto in 2008.

Many people get confused between Bitcoin and Cash. These terms sound the same but are different in terms of everything. The Cash is the update of the BTC with additional changes. It is not only virtual currency but also has its blockchain. The BTC transaction is relatively secure and fast.

The price is increasing day by day, and many people cannot afford to invest in it. On the other hand, BCH is available with slight modifications, and people can afford it. Visit bmmagazine.co.uk to know some differences between these two cryptocurrencies that sounds similar.

In the following write-up, we will discuss more Bitcoin and Bitcoin Cash, including their differences. It is crucial to determine the comparison to invest in a better commodity and earn a massive amount in the future. Let us discuss how these cryptocurrencies are helpful for your investment.

Comparison Between BTC and BCH

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Let us compare these two digital currencies by knowing their massive differences:

1. Price

No cryptocurrency can beat Bitcoin in terms of price. With time, the BTC price is rising. According to the records, the price is increasing more than 120 million percent. After 2010, the economy of the world went into a significant recession. At that time, the value increased, and people invested their assets.

The financing world is changing a lot after the invention of this digital currency. On the other hand, BCH is stagnant, and there is no such increase in the price. The existence is not much sturdy like Bitcoin. There is a total increase of almost 65% from its time of invention.

But many people are showing their interest in the investment. If you are a beginner and cannot afford much on virtual currencies, it is the best option for making any small investment.

Source:masterthecrypto.com

2. Hash Rate

Again, BTC is the winner if we talk about the hash rate. It defines the mining power, and hence, the network of Bitcoin is quite powerful than the Cash one. Many miners are dealing with a crypto asset to safeguard their network, as well as validate all the transactions.

If we compare these two virtual currencies in terms of exhalates, then BTC is 100 and BCH is 2. Whenever you think about investing your money between these two, ensure that you consider their hash rate. It is a significant thing that one must consider before any money investment.

3. Adoption

Source:newsbtc.com

People across the globe are dealing with different cryptocurrencies, and everyone has adopted Bitcoin. If an investor knows how to invest and achieve profit, then he can earn a massive income. It is crucial to determine the correct method and the right way of implementation.

In the end, the investor can get a sum in return. If you check the daily transactions, you can observe that people worldwide have faith in it, and they are investing too. In case of adoption, BTC is beating BCH.

People do not rely much on BCH, and hence, they are not getting enough profits. The transaction cost is relatively minimum in Bitcoin. It is one of the biggest reasons for investing and exchanging currency in it.

4. Transaction Fees and Speed

Source:newsbtc.com

If we compare the speed of the transaction in both cryptocurrencies, then BTC is faster than BCH. High transaction speed is the massive reason for many people to adopt it. The blocks are placed in a queue, and all the transactions take place in an order.

If you want to prioritize the blocks, then you have to pay extra money. If you pay more, the exchange will be done quickly. On the other hand, BCH can carry more transactions in blocks. The cost of the transaction is comparatively less than BTC.

Therefore, many people prefer investing in it. Many individuals think it is hard to meet their requirements if they use BTC for millions of transactions. It is a significant factor where the Cash is leading Bitcoin.

5. Size of the Block

Source:coindesk.com

In Bitcoin, the block size is small, and in Cash, the size is large. According to different sizes, it can hold a different number of transactions. With the advancement in technology, both cryptocurrencies need to scale up.

They want to increase their block size and utilize more technologies for increasing efficiency. If we talk about the size of the block of BTC, then it is one megabyte. It can hold millions of transactions at the same time.

Whenever any user asks for the exchange, his request gets attached in the queue. All the miners require high computing power to solve complicated algorithms and equations of these cryptocurrencies. The block size matters a lot when you are deciding to make any investment.

It is crucial to get enough knowledge about the block to know how various methods take place. The size of the block plays a vital role in dealing with transactions efficiently.

The Bottom Line

Comparing Bitcoin and Bitcoin Cash is quite crucial before making any investment. If you are planning to buy any asset, you must know whether it is profitable for you or not. Many people are aware of various cryptocurrencies, but some differences make them decide to invest differently.

Undoubtedly, no digital currency can beat BTC, but BCH is the similar one with variant functionalities. It is crucial to understand their common differences for deciding on the investment. Go through complete details to make a wise decision. If you want to make frequent transactions at a low price, you must decide which one is better.

Every person has different requirements, and you can choose any digital currency that fulfills your needs. Make the right choice to get massive profits in your future. Initially, if you make the right decisions, then only you will have a better future.

4 Things Not to Do When Bitcoin is Going Down

Keeping your eye out on the market is a must if you are dealing with any type of cryptocurrency. The most popular one, Bitcoin, can have its ups and downs. However, you should know how to deal with it and approach the market the right way. There are some rookie mistakes that you may end up making. If you wish to avoid those and learn a thing or two more about Bitcoin, keep on reading! We have some interesting facts for you to discover.

What is BTC’s actual price?

Source:freebitco.in

People refer to its USD price most of the time, but you can also talk about the composite price made from the average of multiple exchanges’ prices. If you are talking about BTC, you are actually looking at its last transaction on a specific exchange that has been made. So, if the Bitcoin on Bitstamp is $10,000 – its last trade was done and closed at $10,000.

What is going on with Bitcoin, and why is its price dropping?

It definitely has its periods. In fact, a year ago, it climbed from $3,000 sometimes around in September to $7,850! However, not too long ago, the price dropped low to $5,600.

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Why does Bitcoin drop?

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Its first and initial drop is not as scary and this dive is normal (it happens). The price can move all over the place and every day. However, you should always question any sudden changes, and see if there is a specific reason or meaning.

Top 4 key facts to consider

  1. The fall in November

The drastic fall that has happened in mid-November came after a specific event. This change has happened because of a group of miners. However, Segwit2x tried to create a newer form of BTC for larger blocks.

Unfortunately, the plan failed and loads of people have moved their money to Bitcoin Cash, which made Bitcoin Cash double its value in less than 24 hours. So, always keep your eyes & ears wide open! Read some forums, blogs, and stay on-trend when it comes to BTC, as well as its everyday gossip.

Source:news.bitcoin.com
  1. Never try to catch the exact bottom

When making your profit with BTC, know when to stop. You should let only some of your investment capital as the market takes a tumble. Never go all in. If there is a large dip in the market and you start at a coins chart, you never know when it can stop. What you should do is know how to stop and when not to catch the bottom (enter into a trade that is at the bottom of a trend). Know when to stop, since constant bottom chases mean that you are going to miss out on trades, which will further lead to no profit. Do not gamble, and don’t lose it all.

  1. Don’t sell your coins for ones that are going up

People often sell their coins of a downtrend, only to see if things will reverse and start going upwards. For instance, you can buy something for 0.25 cents. You have already done your diligence, studied, and spent a lot of time on the chart (one char in specific). You probably haven’t even tried to catch the bottom since it is a time-consuming process. After some time passes, you are still at your 0.25 cents, and then these cents will tumble down to 0.20 cents. At this point, you might want to sell your coins and make any type of profit since this is a tricky & long mind game. However, BTC can skyrocket (you never know when) and you might regret your decision since you could have tripled your earnings.

If you have already done your studying, you know everything about the money that you’re working with, and you know that there is a chance for the market to change, stay persistent & wait it out. Don’t lose it under the pressure, and rather give it a fair shot.

Source:dmarge.com
  1. Don’t spend your entire day staring at the chart

Try not to spend your entire morning, day & evening staring at the chart. It won’t change just by you looking at it. Most of your hours are probably going to be wasted. Do not just monitor your work and stay passive, but do take action! What you should do is set yourself a limit-order, and simply walk away once it is the right time. Be smart with your money, your spare time, as well as your screen time.

Remember that profit only begins with the right strategy, and if you don’t have it, you are gambling with your money!

But why does the price fluctuate as much?

Bitcoin’s price is volatile. This means that you can see its movements from 5-10% in a single day, which makes its tracking hard to do. Why is this happening? Well, Bitcoin’s market cap is still quite small, and it is still a newer market to work with. If the market cap has as little assets, the more volatile it will be.

When Bitcoin’s price increases you will notice a change (gradual change) in the market cap.

Ready to make money & avoid some mistakes?

So, how do you feel about cryptocurrencies and your money-making skills now? Are you ready to dive into the world of Bitcoin? Simply follow these crucial rules, and avoid doing and making some rookie mistakes. Everyone can profit with Bitcoin, as long as you know when to stop + if you have patience. Having a mind of steel is important since only people who can wait it out and wait for its peak will make money, and will profit in the long run!

Savings in Bitcoin Cash or Real Cash? What’s Better?

Bitcoin has been around for more than a decade, and more and more people are starting to believe that it can rival FIAT currencies. The way it survived this long is a testimony to this belief. Cryptocurrencies are taking over the world, and no one can deny this anymore. BTC became so popular that it initiated the creation of Bitcoin cash. This crypto was created three years ago, and its advantage is that it can increase the size of a block, and thus to allow more transactions. In a short span of time that it’s been present on the financial market, it gained popularity. Because of this, people are starting to wonder can they begin saving money in BTC cash. Of course, there’s the more philosophical question of savings in Bitcoin cash or real cash? What’s better?

There’s no easy answer to this question, so we’re going to give you the advantages of both ways, and you can choose for yourself. This is not a decision you should make in a rush, and because of this, it would be smart for you first to read this article. We are not aiming to give and definite answer as we believe it’s not possible to do it at this time.

Advantages of Saving Cash

Source:myonlineinsur.com

Real money has been present since the inception of the known world, and for many people is the only currency available. It’s no wonder people will decide to have their savings in cash. There are advantages to this way, and below you’ll have them listed. After reading them, you’ll understand while people will put their faith in what they can grasp with their hands.

Liquidity

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If you have a saving account, then you know that this way, your money is like a liquid investment. You can have access to it at any moment. If this is what you seek, then it’s better to have it in a bank than to invest in the stock market or crypto. It’s a low-risk low gain situation, but most people love it that way.

Convenience

This is by far the easiest way to save your money. You can arrange to have the funds transferred every month from your other accounts to the one where you save or withdraw the money on a whim. You can work with your money and know where it is at all times. Subsequently, you’ll also avoid having overdraft fees. It can’t get more convenient than this.

Safety of money

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While in a bank, your money can’t be touched. There’s no risk that you’ll lose any, as it’s not being invested. Yes, you’ll miss on the profits, the stock market could bring you, but there’s no risk involved. In the end, this is what you want if you decide to save in cash—no risk, for a calmer sleep.

Insurance

Most people want their money insured. This is natural, as there’s no point in saving if your payment is not secured. Luckily, if you put your money in the bank, it will be insured by FDIC or the NCUA. This type of security is what people are looking for in cash savings.

Short Term Savings

If you are looking to have money stashed away, but at your disposal for a quick spend, this is the way to go. Having money in the bank means that it’s there for you at all times. If you need a buck or two to spend on a vacation or some expensive item, a short time saving can be your thing.

Saving With Bitcoin Cash

Source:currency.com

By now, you know a thing or two about BTC, and you can learn more by going to immediate-edge.co. But, have you thought about saving in Bitcoin cash? This could be a thing that works for you if you’re willing to take the risk. Bitcoin is not tied to any amount of gold or coins, so it will probably retain its value. The fact it’s decentralized thanks to the blockchain means that it’s not controlled by any institution, which is its main characteristic and the one that attracts new investors, buyers, and traders.

So, is saving in Bitcoin cash a good idea? Well, BTC is sometimes unpredictable. It can hold its value for prolonged periods, only to spike. Same as it goes up, it comes back, but in the process of this, you can earn a lot. This is what makes it attractive for people to save in BTC. This crypto slowly is becoming trustworthy just like any other currency in the world.

To have savings in Bitcoin cash, you’ll need to have a wallet. Many platforms offer this service, and you can be a bank for yourself. This way, you can save your cryptocurrency as it was regular money in the bank. If you are lucky, your savings could grow with time, but at the same time, they could diminish in value due to Bitcoin’s volatile nature. For example, if you have put your savings into an electronic wallet one year ago, you would have more money today. With standard cash and a conventional bank, this would not be the case.

This the one thing you need to keep in mind. If you are looking to invest in Bitcoin cash and have savings, you risk a lot. This crypto is still rather new, and you’ll keep your savings only if the price doesn’t go down. And the only way to earn this way is if the price spikes as it happened with Bitcoin a couple of years ago.

Conclusion

As you can see, Bitcoin cash is rather new, so we’re not able to give it a high recommendation in terms of saving. While it has massive upside, we would stick with regular cash for the time being. There’s not too much to gain, but there’s little to nothing to lose either. In the case of Bitcoin Cash, you wouldn’t be saving any money but instead investing it as it’s the case with most another crypto. When you do this, it’s all up to the market with little being in your hands.