Are you interested to learn how to buy bitcoin cash – another coin from the top 30 assets on CoinMarketCap? The commission for the operations in this network is much lower than for bitcoin. For instance, the average transaction fee for BCH was 0.000028 BCH ($0.0034) 0.000000044 BCH/byte, while for BTC – 0.000073 BTC ($2.05) 0.00000022 BTC/byte), as of 21st April 2023. So, this crypto deserves attention, and you should definitely buy bitcoin cash with debit card.
In May 2017, the cost of bitcoin crossed the $2,000 mark, and the daily trading volume of BTC reached $1 billion. However, as the market quickly gained momentum, the load on the network grew along with delays and transaction fees. The problem of network scaling became acute, but there was no ready-made solution for it.
Let’s not delve into technical details. It is sufficient to say that in 2010, the mysterious creator of bitcoin, Satoshi Nakamoto, limited the block size on the blockchain to 1 megabyte. This was done to prevent spam and stop malicious agents from flooding the network with plenty of microtransactions. However, the block size limit also meant that no more than three transactions could go through the network per second.
Increasing the maximum block size was the most obvious solution. Those who spoke out in favor of such a solution pointed out that with the increase in the price of military-technical cooperation, the 1 MB limit lost its meaning: the cost of a DDoS attack increased from a couple of dollars in 2010 to $10,000 in 2017. Hardly anyone would spend such a sum to topple the network just for fun.
However, other participants did not want to change anything in the rules set by Nakamoto. Disagreements led to a split:
When bitcoin was introduced in 2009, it was called an alternative electronic cash system, implying that the crypto could partially replace conventional fiat money controlled by governments. However, due to the low speed and constantly growing commissions, there was little chance that the population would massively switch to payment in military-technical cooperation.
The creators of BCH believed that their reform would just return the coin to its original function as a means of payment, making operations faster and cheaper. The old coin has turned into an investment asset like gold, but the new one – bitcoin cash – can serve as real electronic cash, which is the reason to buy bitcoin cash.
Crypto is completely legal today, and citizens can buy bitcoin cash online with credit card, sell it, and store it without restrictions. It can also be freely sent to others. Bitcoin Cash is great for this as the average fee is much less than $1.
One can buy bitcoin cash with credit card on most exchanges. For example, on EXMO.com it can be traded in pairs with both digital and fiat assets. If you do not possess any coins yet, you can first purchase bitcoin through EXMO.com and then convert it through the trading interface.
The alternative that allows you to buy bitcoin cash instantly is unofficial exchanges, some of which sell BCH for fiat, even without registration and identity verification. However, most of these exchanges are not reliable organisations that are not regulated by anyone, do not give any guarantees, and do not even have an address. When you buy BCH with credit card from them, you take a significant risk.
Therefore, if you would like to buy bitcoin cash with credit card instantly, look only for reliable platforms like EXMO. In terms of storage, the majority of popular blockchain wallets that support bitcoin allow you to store bitcoin cash as well.
What should you know about this coin apart from how to buy bitcoin cash? It uses the same hashing algorithm (SHA-256) as bitcoin, thanks to which both coins can be mined on the same ASIC models (ASICs), and miners are constantly switching between them depending on which coin is more profitable.
In addition, they have the same maximum number of coins, and this threshold will be reached approximately simultaneously. In both networks, halving occurs every four years, and one can buy bitcoin cash with debit card instantly, as well as other coins.
Of course, in dollar terms, these are different values because the price of bitcoin was more than $28,010 as of 21st April 2023, while BCH was only $123.15. However, the complexity of BCH mining is much lower, which means that miners have a higher chance of receiving a reward. That is why so many people want to know how to purchase bitcoin cash.
Although it is far from the fastest crypto (it takes 10 minutes to receive one confirmation) and not even the most economical one, it still offers a good combination of low fees and reliability. In addition, many high-quality wallets support it. If the speed of processing is not important for you, buy BCH with debit card and try it.