Cryptocurrencies are on the rise and as normal individuals, it is high time we acknowledge their potential and worth. Bitcoin hit its highest so far in April 2021 hitting $63,729.5 for 1 BTC. Most people have heard of Bitcoin but are unaware of other types of bitcoin in the digital market. Bitcoin and Bitcoin cash are not the same. We’ll be looking at exactly how different they are, the pros and cons, and what you should invest in.
Bitcoin vs Bitcoin Cash: What's the difference?
Bitcoin vs Bitcoin Cash: How do they perform?
Bitcoin vs Bitcoin Cash: What should you invest in?
Bitcoin vs Bitcoin Cash: Conclusion
Bitcoin vs Bitcoin Cash: FAQs
Bitcoin vs Bitcoin Cash: What's the difference?
Bitcoin was made in 2008 as a decentralized digital currency by an individual or group by the name Satoshi Nakamoto. Since the beginning of its use in 2009 when the project went open source, Bitcoin has been gaining popularity. As more people started using this new currency the amount of time needed for transactions to complete was increasing. It took from hours up to days for larger transactions to complete. This led to groups of developers finding their own solutions to this problem. One group went onto developing a new kind of Bitcoin that had up to 8MB of block size allowing more data to be processed which meant the transaction would be faster.
This hard fork from the original bitcoin code was called Bitcoin cash, a new currency and was represented by BCH. Bitcoin cash had a much lower transaction fee, was faster, and still based on the original Bitcoin. In 2018, the maximum block size for BCH was increased to 32MB. Although it has its advantages BCH is less known and lacks the capitalization of BTC. Bitcoin still has a higher hash rate compared to Bitcoin cash.
Alan Joseph
Bitcoin vs Bitcoin Cash: How do they perform?
When Bitcoin cash came into use it offered several advantages over Bitcoin. Although it had technical advantages the people who invest in cryptos mostly invested in what they knew best, what they had experience with. Few people were using Bitcoin cash for transactions and this made it less secure compared to Bitcoin. Looking at the statistics we can easily see the similarities but also the differences.
From these charts it’s clear that BCH has never come close to the value of Bitcoin and transactions were always less. BCH had a rise in transactions during its initial days but it has been low since then. The more value a currency has affects its transactions. Currencies with more transactions are relatively more stable and hence reliable. This means that small changes in the market or event affect BTC way less than BCH.
Chayanika Goswami
Bitcoin vs Bitcoin Cash: What should you invest in?
The most important question any investor has is which crypto to invest in. This depends on the investor and how they wish to play the market. Statistically, Bitcoin has been doing a lot better than Bitcoin cash, but it has its own advantages. When it comes to day trading, most people prefer a currency with stability. Bitcoin has been mostly stable if we take a look at the trends and this is what most investors look for. The transaction fees for Bitcoin are still a lot higher compared to Bitcoin cash and it takes a while for transactions to complete. The prices of both are expected to go up in the future. So it is up to the investor to choose their currency taking in both the pros and cons.
Bitcoin vs Bitcoin Cash: Conclusion
Bitcoin has always been the currency that everyone knows and everyone talks about. It still maintains its high market capitalization and continues to dominate. Places that accept cryptocurrencies are more likely to accept BTC than BCH. Although Bitcoin cash offers a faster and even better blockchain solution, its value has a long way to go. Technology keeps getting better and new currencies arrive along with it. However, market price and hash rate are key when it comes to investing in cryptocurrencies. For meanwhile, it seems like Bitcoin is the choice to make.
Sarika Anand
Bitcoin vs Bitcoin Cash: FAQs
What is Bitcoin Cash?
A new kind of Bitcoin that had up to 8MB of block size allowing more data to be processed which meant the transaction would be faster. This hard fork from the original bitcoin code is called Bitcoin cash, a new currency and is represented by BCH.
What is the highest value that Bitcoin has ever reached?
Bitcoin hit its highest so far in April 2021 hitting $63,729.5 for 1 BTC.
What advantages does Bitcoin cash have over Bitcoin?
Bitcoin cash has smaller transaction fees, faster speed and the Bitcoin Cash node is easier to setup.
What indicators should one look for when investing in crypto currencies?
Market price and hash rate are key indicators when it comes to investing in cryptocurrencies.
Author: Charudath K Nair
Source : https://startuptalky.com/bitcoin-cash-vs-bitcoin/
Date : 2021-06-17T07:33:55.000Z