Today I am going to answer your questions about Bitcoin Cash:
“What is Bitcoin Cash? Is Bitcoin Cash a good investment? Is Bitcoin Cash worth buying in 2018 (and beyond)? Bitcoin Cash vs Bitcoin – Which one is better?” And other crucial questions.
I am 100% sure that you will find my article helpful and valuable. If you need any further help, you can always ask me in the comments below and I will be more than happy to help you out.
Bitcoin Cash Review – Summary
Name: Bitcoin Cash (BCH)
Website:www.bitcoincash.org
Type: Cryptocurrencies
Best Place to Buy: Coinbase or Binance
Summary: Bitcoin Cash was supposed to be a better version compared to Bitcoin. However, there was a lot of controversy during the whole Bitcoin fork.
Most people in the cryptocurrency community believe that Bitcoin will thrive and Bitcoin Cash was mainly supposed to make a few people extremely rich.
Is Bitcoin Cash Recommended? I haven’t personally invested much money on Bitcoin Cash. I don’t recommend it to other people either. Put your money into Bitcoin or other cryptocurrencies.
See my #1 recommended cryptocurrency exchange here.
NOTE: If you came here because you are looking for the best ways to make money online, I recommend following this step-by-step training guide.
Is Bitcoin Cash Worth Buying? – My Video Review
Before you dive into my article below, I want to give you an opportunity take a look at my Bitcoin Cash video review below.
If you are interested in making more money with cryptocurrencies, don’t forget to subscribe to my YouTube channel for more videos in the future.
What Is Bitcoin Cash?
You probably already know Bitcoin. It’s the first cryptocurrency in the world that was created back in 2009. Since then the market cap of Bitcoin has grew into hundreds of billions of dollars and more than 1,600 other cryptocurrencies were created.
One of the biggest cryptocurrencies is called Bitcoin Cash.
Bitcoin Cash was launched in the Autumn of 2017 with so-called Bitcoin fork. It means that everyone who owned Bitcoin back then, received also Bitcoin cash cryptocurrencies for free.
- If you owned 1 BTC (Bitcoin), you got 1 BCH (Bitcoin Cash).
- If you owned 5 BTC, you received 5 BCH.
- If you owned 4,123 BTC, you received 4,123 BCH.
- And so on.
Bitcoin Cash was now designed to become the best cryptocurrency in the world with
- Real decentralization
- Fast transaction times
- Low transaction fees
- And other benefits.
However, real “Bitcoin believers” heavily criticized Bitcoin Cash and said that it was just Roger Ver’s strategy to make himself tons of money. Roger Ver has been one of the biggest influencers in the cryptocurrency space for years.
He said that Bitcoin is not enough and there are too many downsides to he and some other people wanted to create something better. Well, at least that was their plan…
How Does Bitcoin Cash Work?
In this article, I don’t want to go into the technical details of the Bitcoin Cash because most of my readers prefer explanations using layman’s terms.
That being said, let me explain a few important details about BCH
Bitcoin Cash…
- is decentralized. The network is spread out all over the world in different locations. However, there has been a debate whether it’s truly decentralized or not. More on this later..
- is a peer-to-peer cryptocurrency. Anyone can send BCH to any person anywhere in the world without a middleman like bank.
- is secure. BCH uses a strong encryption and it’s pretty much impossible to hack.
- uses blockchain. All transactions are logged to a public ledger called blockchain.
At this point you could easily say, “Well, all those 4 elements apply to Bitcoin as well” and you would be completely right.
However, there are also several crucial differences between Bitcoin and Bitcoin Cash that I am going to explain you in the next chapter.
Bitcoin vs Bitcoin Cash
Some “true Bitcoin believers” almost hate Bitcoin Cash. In this and the following chapters you will find out why.
But before that, let me explain the reason why some people think that Bitcoin Cash is better than BTC.
A main difference between Bitcoin and Bitcoin Cash is that the block size was raised from Bitcoin’s 1MB to 8MB. The purpose of this change was to try to lower the transaction fees and make transactions faster.
In many cases BCH transactions have been faster and cheaper than with Bitcoin but that’s not the whole story.
There has been so much controversy around BCH that I couldn’t include everything in this article. Bitcoin Cash and Roger Ver has numerous times been attacked for several reasons regarding to Bitcoin Cash.
The most common reasons have been:
- Bitcoin Cash Price Manipulation
- Bitcoin Cash Centralization
Let me explain more details in the following chapters.
Bitcoin Cash Price Manipulation
Roger Ver has without a huge influence within the cryptocurrency space. He has thousands, if not millions of followers on different media channels over the Internet, television and newspapers.
Some people call him “Bitcoin Jesus” while other claim him to be a “Bitcoin betrayer”. In addition, he may face soon a lawsuit because of the controversial propagation of Bitcoin Cash.
He has been pumping the price of Bitcoin Cash in all possible media channels. There was also some controversy when Bitcoin Cash was added to Coinbase. The price jumped to the sky right away after it was added and most likely Roger Ver and other “inner circle” made big money.
Ver and his companions have created propaganda showing the superiority of Bitcoin Cash using controversial methods. This has lead some people to buying Bitcoin Cash when they were actually planning to buy Bitcoin.
If you are tired of this whole market manipulation and want to find a proven and tested way to make money online, I recommend having a look at my #1 recommendation below:
Is Bitcoin Cash Really Decentralized?
In 2017 the research showed that 92% of the Bitcoin Cash mining was operated by 2 major mining farms.
In the other words, 2 miners controlled the whole action within Bitcoin Cash. Some rumors said that even those 2 mining farms were owned by the same people. I don’t know what is the truth there but it doesn’t sound very good compared to Bitcoin where mining is more decentralized.
I wouldn’t be too surprised if Roger Ver and his “army” would control the whole Bitcoin Cash mining business.
Bitcoin.com And Bitcoin Cash
In the Autumn of 2017, the founders leaders of a highly popular website Bitcoin.com announced something like, “Bitcoin is not good anymore. We are going to sell our Bitcoins now!”
That of course enticed many people to read the articles because they knew that before the same website had been promoting Bitcoin very strongly.
If you read the articles, you quickly found out that the whole purpose was just to pump up the price of Bitcoin Cash. They said Bitcoin is not good anymore and now it’s time to buy Bitcoin Cash.
Bitcoin.com is still a place that highly promotes Bitcoin Cash. It also provides information on Bitcoin because of the public demand but the founders are really more into Bitcoin Cash than BTC.
Where Can I Use Bitcoin Cash?
One of the downsides of Bitcoin Cash compared to Bitcoin is that you can’t yet use it very widely.
Bitcoin hasn’t been adopted by masses yet either but you can already use it in way more places than BCH. Hundreds and thousands of companies all over the world would accept payments with Bitcoin but only a few accept Bitcoin Cash.
Even though that may not feel like a big issue at the moment, you must take that into consideration. The more people use Bitcoin, the stronger the networking effect will be.
A friend recommend BTC to his friend. That recommend it to another. And so on. The network will grow fast like a social media site like Facebook. Any social media site wouldn’t be valuable unless a strong networking effect. People naturally think, “If other people are using Facebook, I need to use it as well.”
Even though Bitcoin is far from being a social media site, the same effect still applies. Lots of users bring even more users. While Bitcoin Cash has only a few users and it will not grow so fast.
Is Bitcoin Cash Worth Buying?
As I explained at the beginning of this post, I don’t personally own much Bitcoin Cash.
I received some Bitcoin Cash during the fork in 2017 because I owned Bitcoin but since then I have sold almost all of my BCH to other cryptocurrencies.
There has been so much controversy around BCH that it doesn’t feel like a legitimate investment. My prediction is that over the time course it will die away. Not completely but at least go lower from the current price.
The peak of Bitcoin Cash was in December 2017 when the price of one coin was over $4,000 and the market cap was around $70 billion. Since then it has been going down along the whole cryptocurrency market.
If you still decide to buy Bitcoin Cash, you can do so on Coinbase or on Binance. My #1 recommended cryptocurrency exchange is certainly Binance because you can buy and sell there for only 0,05% which is probably the lowest in the whole industry.
In addition, it’s the biggest cryptocurrency exchange by the trading volume.
Conclusion – Which Cryptocurrency Should You Buy?
I don’t want to give individual recommendations in this article but let me give you a few guidelines.
If you are looking for the biggest gains, you would probably want to invest cryptocurrencies with a smaller market cap like BitDegree, Medicalchain or carVertical. However, you need to consider that even though they can provide big gains for investors, there is also a huge risk of losing money.
Such smaller cap tokens are not decentralized like Bitcoin so you are pretty much relying on the company that is running the show.
Another option is to invest in the mid-cap cryptocurrencies like Binance Coin or Kucoin Shares. Investing in their cryptocurrencies will pay you dividends based on the fees that users pay on their cryptocurrency exchange platforms.
The “safest” option is to invest in cryptocurrencies with a bigger market cap like Bitcoin, Ethereum or Litecoin. I personally believe that those 3 coins will have a good future and their market cap will keep on rising over the years.
I also strongly believe in the mass adoption of cryptocurrencies. I have explained the reasons in my other articles and YouTube videos. If you want to learn to make money with cryptocurrencies, you can grab my course on Udemy for just $10.
That being said, cryptcourrency market is still very volatile and it contains risks. If you are looking for more secure and proven ways to make money online, I recommend having a look at the step-by-step training below.
What do you think about Bitcoin Cash?
Do you prefer Bitcoin or Bitcoin Cash?
What cryptocurrency will give the best returns in 2018, 2019 and the coming years, in your opinion?
Let me know in the comments below!
If you have any questions, just leave a comment below and I will be more than happy to help you out.
Disclaimer: This article is not a financial investment. You should only treat it as information and entertainment.
I agree with you that we should not invest that much in bitcoin cash,though the price for Bitcoin keeps on dropping so its better for us to wait and see what to invest in the upcoming cryptocurrency future.
My guess is that Bitcoin won’t go up in price like it did a few months ago,but the other cryptocurrency might go higher than it is now.So in the end,I think its best not to make any investments at the moment,but if I had to chose i’d go with bitcoin cash just because the bitcoin price is too “unstable”.
Hi Mitten,
that’s how the market works. Sometimes prices go up and sometimes they go down. Bitcoin has “crashed” hundreds of times over the years but it always comes back and hits new records. I believe it will also happen in the near future. We will surpass $20,000, $30,000, $50,000, etc.
If you are looking for a stable investment, you should not go with Bitcoin Cash. It’s also highly volatile.
The most stable investment would probably be real estate. Have you invested in apartments/houses?
Understandably, new cryptocurrency platforms out there would promise better deals to penetrate the market. Based on experience, I still trust Bitcoin. Why? Because of all the hype going on with cryptocurrencies these days, of course these new players would take advantage of it to get more people buy their products or services.
People would love to try out something new. Just like any other kinds of new businesses, these new cryptocurrency players are definitely bagging on the hype and going all out promoting that they offer the newer AND better service. But personally, I’m not the type who easily gets caught up in the hype. It takes more than the promotional gimmick to get me to buy an idea or concept, especially an investment-related one. Sometimes I’d like to look at the loopholes more than the great offers. That way I have much more realistic expectations. And I’m particularly wary about the shady stuff going on.
With Bitcoin Cash, of course the price is their main advantage, so to speak. But comparing the price versus the risk involved in buying Bitcoin cash, I don’t really think that it’s worth it in the long run. Plus, I don’t like how they say that it’s “decentralized” when some guys are really manipulating the prices and the mining action. Pretty sneaky there!
So I’d rather stick with the original Bitcoin.
Yeah, we have then completely same thoughts on the Bitcoin Cash 🙂
By the way, have you invested / started using Bitcoin?
Yes, I started out just a few months ago, through a friend’s recommendation. But of course, it’s backed up by my own personal analysis, and so far so good. I’m literally just sitting in here and making my money work for me. Haha! A few downtrend here and there is normal but overall, Bitcoin is still going strong.
Alright. I am happy that you also own Bitcoin.
I believe that in the future we will be able to use it normally in groceries, stores, restaurants and basically anywhere. More and more businesses are accepting Bitcoin and cryptocurrencies than ever.
Also if my clients want to pay me in Bitcoin or Ethereum, I accept the payment. It’s much more convenient that using the slow and expensive banking.
I wasn’t aware of Bitcoin cash before now and I’m glad that I did. From what I read in the article, it seems that those who are already having invested in Bitcoin have already benefited from the introduction of Bitcoin Cash and from the advantages of Bitcoin Cash, I would say that it’s not a bad thing to have a little investment made in the cryptocurrency. Also seeing that it’s backed by Coinbase and Binance which are to me the best Exchange site, I would consider it a good prospect.
Yeah, Bitcoin holders made quite a nice extra money after the Bitcoin Cash was launched. I also received some free Bitcoin Cash and sold it afterwards and made a great income with it.
However, I am not holding much Bitcoin Cash anymore. Even though it’s possible to trade BCH on Coinbase and Binance, that doesn’t mean that those exchanges would support BCH.
They know it’s a popular cryptocurrency that many people are trading. Therefore, these exchanges make nice profits when people come to their platform to change Bitcoin Cash.
That’s good thing to know and those that enjoyed getting Bitcoin Cash when it was launched enjoyed the benefits of investing first in Bitcoin when it was launched in 2009. So therefore, anyone looking to acquiring Bitcoin Cash now would have to buy it directly from exchange sites – Coinbase or Binance because the offer of free Bitcoin Cash is off the table.
Actually, I didn’t need to bet anything to Bitcoin Cash. Everyone who held Bitcoin last autumn in 2017 got free Bitcoin Cash.
Then from everything you have analyzed, it’s better to look past getting in bed with Bitcoin Cash BCH and look for the possibility of investing in Bitcoin BTC.
Yes, I think that Bitcoin is a better and more potential one at this stage. That’s of course just my personal opinion and not an official investment advice 🙂
Even if it’s not a professional investment advice but just your individual opinion, I still think it makes a lot more sense to go with Bitcoin BTC over Bitcoin Cash BCH because looking at the value of both of cryptocurrency, it’s more better to go with Bitcoin because it’s more of a better investment than Bitcoin Cash BCH.
I really appreciate your review Roope. Cryptocurrencies can be quite confusing and everyday a new concurrency is invented. The lines are now becoming a bit blurry.
I also must admit that, I still don’t understand the diffrence between bitcoin and bitcoin cash. I think the inventor of bitcoin cash is trying to take advantage of bitcoins good name to make money.
If he is serious he should come up with his own crytocurrency and stop confusing people like me,cryto is confusing enough as it is.
I understand that cryptocurrencies may feel a bit hard to understand at first. That’s normal because anything new feels a bit strange at first. It’s like when you tried the Internet for the first time. I was like, “What is this thing called Internet? How does it work?” But nowadays we are using it in our everyday life.
I think the same will happen with cryptocurrencies. Now they feel like a new thing and strange but after some years everyone will use them and they will feel natural.
Bitcoin cash and bitcoin is both good investment. But if you want to have an assurance invest in bitcoin cash. How ever I think they are just a little bit different in one another. If you are having a hard time in making decision in which one is much better you must read this blog.
Dictator, may I ask why do you think that Bitcoin Cash is a safer choice?
In my personal opinion Bitcoin Cash is a riskier choice because of the reasons that I explained above in the article.
I think I’ve said that I would rather choose bitcoin cash than bitcoin because bitcoin cash is gaining users and value fast. And also it is easier to invest in bitcoin cash than it bitcoin because in bitcoin cash they are allowing more people to use it with ease and lower fees which is favorable for most of us. This is only my opinion please do correct me if I am wrong.
Interesting thoughts.
However, I think that Bitcoin is gaining users much faster than Bitcoin Cash at the moment. It’s also way easier to buy Bitcoin than Bitcoin Cash. Bitcoin Cash is only available in some cryptocurrency exchanges while Bitcoin is available in 100% of them.
I guess that you made a mistake between those two?
I apologize for having a mistake between bitcoin and bitcoin cash. On the other hand, thank you so much for clarifying those two for me. Now I know what should I answer if somebody ask me what are the different between those two. Thank you so much Roope. So if I already want to invest now I would rather invest on Bitcoin because it is still the convenient one since then. And also maybe because bitcoin is still much better than bitcoin cash maybe because bitcoin cash is only a new player in the industry.
Okay, I am glad that my clarification helped you.
A problem with Bitcoin Cash is not that it’s new but the facts that I pointed out in the text above.
Did you read the article, by the way? 😀
In as much as I see the Bitcoin cash coin doing better in the future, I totally agree with you on the need not to put too much investment on it ,but rather to focus on the popular coins already in the market such as Bitcoin. There is much confidence on Bitcoin now that there is high chance of having returns on investment unlike the others.
I would like to hear your reasons on why do you believe that Bitcoin Cash will do strongly in the future? I assume that you have invested in Bitcoin Cash yourself then, right?
There is always hope on every coin until there is a total crash. I said that I am optimistic that Bitcoin cash will do better in the future, but I also went on to say that investing on Bitcoin is a better choice for me.
I see.
By the way Henry, how is the Bitcoin and other cryptocurrencies doing in your country? Are more and more people getting involved to Bitcoin? Has the government made some regulations?
Would be interesting to hear.