Buy Bitcoin Cash (BCH)
In modern society, there are no people who have never heard of electronic currency. Now there are a huge number of them and almost all of them are in demand, and the number of users is growing exponentially.
All this is due to the presence of a huge network that allows you to earn income using digital means. Many investors and traders have already made their fortune thanks to this asset, and many do not stop there.
Many people believe that acquiring digital currency in the long term is no longer relevant, but in fact this is not the case, because these assets are strengthening and growing in price every day. In addition, new types and hard forks appear daily, saturating the market with changes in dynamics.
The main thing in working with electronic funds is to remember the high volatility and be careful. Before engaging in investing, it is wise to research the subject thoroughly. This article will describe the ways to invest in Bitcoin Cash and offer to start investing in BCH online right now!
What is Bitcoin Cash?
In 2017, there was a decrease in the speed of transactions, the most famous digital currency Bitcoin, due to the huge load on the blockchain network. The transaction speed could reach about 2 days between two users. Then the developers could not come to a single way to solve the problem and the network was divided into two, resulting in a hard fork called Bitcoin Cash (BCH).
The group of developers who became the head of Bitcoin Cash increased the block size to 8 MB in order to avoid a decrease in the speed of transactions of the created digital currency in the future, because this was the original idea of Bitcoin.
During the hard fork, all the coins were "displayed", and all owners of bitcoins received the exact same amount of bitcoins in possession. This is an electronic coin that uses different software that is different from regular bitcoin, but the difference is only in the frequency of changing the cipher and the size of the block. Coin transactions can originate from the same wallet as standard bitcoin, even using the same access keys.
Among themselves, the coins differ not in many, but important factors: Bitcoin Cash checks about 100 transactions per second, while having a minimum cost calculated in cents, and its “progenitor” has a speed of no more than 7 transactions, at a price of $ 5 to 50 dollars.
Supporters of Bitcoin Cash are trying to promote their currency, but at the same time they have not once managed to overtake Bitcoin in the tops.
Many users have divided the responsibilities of these currencies as follows: BTC is used as a store of value currency, stored in their accounts, and BCH is used as a profitable medium of exchange in transactions. And in order for Bitcoin Cash to remain relevant further, it needs to stop multiple branches from its system.
Nevertheless, the capitalization of the entire digital currency market is growing every day, and all thanks to the good mood of the industry as a whole, as well as the constant increase in prices for different types of coins.
Experts suggest that Bitcoin will be in first place for many years, due to its popularity and the reach of network users. In the meantime, Bitcoin Cash will be a temporary medium for the exchange of coins, as it is not able to catch up with its ancestor, the very first coin in the world of digital currencies.
How to buy BCH?
There are several options to buy Bitcoin Cash in Malaysia. Each user of the market can choose the most convenient and suitable way according to his requirements. The first way to buy Bitcoin Cash is to consider the most popular option, namely buying through an exchange.
The exchange is a specialized platform, using which users can make transactions for the exchange of funds, securities, digital currencies, goods and other assets. And also on exchanges concludes deals on derivative contacts, this is the so-called obligation to purchase selected assets when their price reaches a certain value.
In order to buy Bitcoin Cash, the user must choose a reliable, popular exchange, register on it and purchase the necessary coin. This method takes a lot of time, but is nonetheless the safest among the other methods.
It is important for the user to make sure in advance that the selected digital coin is available on the exchange used. There are several exchanges that are suitable for users to buy BCH, and are verified among other users:
The next way to buy Bitcoin Cash is considered to be just as popular, but also fast. Buying electronic coins using online exchangers is less secure, but saves valuable time for users. The process is faster because online exchangers do not require registration. An investor or trader only needs to select the desired coin from the list, specify the amount and confirm the transaction with an exchange for the selected currency.
Most often, exchangers are used in the acquisition of a small amount of digital currency, but nevertheless, transactions are less protected than buying on the exchange, which makes them not as popular.
The last option for buying BCH is through the user's acquaintances, who also use this coin or simply store it on their wallets. In this case, it is possible to negotiate a favorable exchange rate for both parties and avoid transaction fees. Despite such a large number of advantages, experts advise to refrain from these manipulations if the user does not have confidence in the person from whom he is going to purchase coins.
Where to store BCH?
Before buying BCH in Malaysia, the user must prepare a place to store electronic coins. Digital currency cannot be stored in a bank, as it does not have a physical body, unlike many other assets (precious metals, fiat money, and others). In this regard, other storage methods have been developed that are suitable specifically for digital coins, they are called crypto wallets.
The electronic coin is always on the blockchain, and the wallet is used as a storage for keys, with which the user gains access to his digital currency. In other words, wallets allow you to access coins and with their help you can perform transactions, thus ensuring the safe storage of electronic coins.
Depending on the type of storage, the characteristics of wallets change. For example, wallets for long-term storage provide more security for coins, but are not adapted for permanent transactions. While short-term storage wallets are better suited for permanent transactions, they do not have such an ideal security system.
For Bitcoin Cash, verified and trusted wallets are:
How to invest in Bitcoin Cash?
In order to competently and profitably start invest in Bitcoin Cash in Malaysia, an investor or trader will first have to decide on the investment period.
When a user chooses a long-term investment, he also needs to prepare a reliable and verified crypto wallet for the selected coin for use. After that, the digital currency is purchased in the most convenient and profitable way for the user. Then the investor or trader waits for the price to increase until the amount meets his expectations and brings in a profit.
This method of investing takes a huge amount of time, so it is not suitable for all users.
To earn on short-term investment, the user does not even need to buy this coin. For this method, trading platforms are used, and the user receives income due to the constant volatility of the price of the selected asset. This type of investment allows you not to deposit large amounts, but to gradually increase your deposit through trading.
The simplicity of this method lies in the analysis of the price movement of the selected asset, in our case, this is the price of Bitcoin Cash. When the user is sure that the price of the coin will rise, he enters a trade using the buy function, and when the price starts to rise higher than the price at the time of opening the trade, the user will start to make a profit. Similarly, when the price moves down, the user enters a trade under the sale, and when the price falls below the trade entry value, he makes a profit.
In this type of investment, it is important to keep track of the movement of the transaction, since the market is not predictable, and losses are not desirable. It is best for the successful course of transactions to undergo training and gain good experience, making a constant profit.
This method has proven itself among users of trading platforms and gave investors and traders the opportunity to receive income daily.
Choosing an investment method, everyone should choose for themselves, taking into account their needs and the time that can be spent on analysis.
QUESTIONS AND ANSWERS
Is the BCH a good buy?
Experts speak of this electronic coin as stable. If a user wishes to purchase a BCH for investment, then the first thing to do is to conduct a study and identify priorities for its further use.
Where to buy Bitcoin Cash?
You can buy this coin on an exchange or a trusted online exchanger, the main thing before buying is to make sure that the method chosen by the user is reliable.
Why does the price of Bitcoin Cash fall and rise?
This is the volatility of the market, thanks to it, short-term investors have a constant and profitable income.