Bitcoin Cash
Bitcoin Cash (BCH) is a peer-to-peer cryptocurrency that emerged as a result of a fork from the original Bitcoin network in 2017. It aims to offer faster and cheaper transactions by increasing the block size limit, making it suitable for everyday transactions and digital payments.
Buying
Bitcoin Cash
(BCH)
Through the App
Bitcoin Cash
's popularity has made it readily accessible through various platforms, including our app. If you're interested in buying
Bitcoin Cash
, here's how you can do it through our app:
Download and Install Our App
To get started, download and install our app from your preferred app store.
Sign up and Get verified
With no foreign transaction fees, you can spend your crypto globally, anywhere Visa is accepted.
Deposit funds
Deposit crypto to your Wayex Wallet or deposit $AUD via PaylD or BSB & Account Number within seconds.
Browse the market
Once you're verified and have your funds ready, navigate to the
Bitcoin Cash
(BCH)
section within the app. Here you can view real-time prices, historical data, and market trends.
Place your order
Specify the amount of
Bitcoin Cash
you want to buy and confirm your order. You can choose to buy a fraction of a
Bitcoin Cash
or whole units, depending on your preference and budget.
Done! You have now bought
Bitcoin Cash
. What now? You can either keep your crypto in your Wayex Wallet or you can transfer it to a different hot or cold storage wallet for added security, or you can cash out and spend your crypto through the Wayex Card, which converts your crypto into fiat in real-time! It works anywhere Visa is accepted.
Understanding
Bitcoin Cash
(BCH)
Bitcoin Cash (BCH) is a prominent cryptocurrency that branched off from Bitcoin (BTC) in August 2017. It was created to address some of the limitations of the original Bitcoin network, primarily focusing on scalability and transaction speed.
One of the main differences between Bitcoin Cash and Bitcoin is the block size limit. BCH increased the block size from 1MB (in Bitcoin) to 8MB, allowing for more transactions to be processed in each block. This change was intended to reduce congestion and lower transaction fees, making BCH suitable for everyday transactions.
Bitcoin Cash operates on a decentralised blockchain, and its underlying technology remains similar to Bitcoin's. It employs a proof-of-work consensus mechanism, where miners validate transactions and secure the network by solving complex mathematical puzzles.
One of the key advantages of BCH is its fast transaction confirmation times. With larger blocks, transactions are processed more swiftly, offering users quicker settlement for payments. This feature is essential for cryptocurrencies to be used as a practical means of exchange for goods and services.
Bitcoin Cash is embraced by various businesses and platforms as a form of payment, further increasing its utility. It's widely accepted by online retailers, gaming platforms, and service providers.
However, it's important to note that the Bitcoin Cash community remains divided on its vision and direction, which has led to several forks, resulting in different versions of BCH. Despite these challenges, Bitcoin Cash remains a significant player in the cryptocurrency ecosystem, known for its focus on transactional efficiency and usability in daily life.
**All information in this article is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by Wayex to invest, buy, or sell any coins, tokens, or other crypto assets. Any descriptions of Wayex products or features are merely for illustrative purposes. Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. It is essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.
