What is Bitcoin Cash
Bitcoin Cash was created by the Bitcoin hard fork on August 1, 2017, made a new version of the blockchain with different rules. Bitcoin Cash was created as a result of counteracting a prolonged Bitcoin scalability problem. It works by switching from the main Bitcoin blockchain to a new version, the software now has capacity for a larger number of transactions (by eight megabytes to be exact).
How to Trade Bitcoin Cash CFDs in 3 Easy Steps
- Open a trading account with Introvurt
- Fund your account
- Auto Trade
Bitcoin Cash in the markets
Since the infant cryptocurrency launched it had more than doubled in value from the initial Bitcoin Cash price of $300 to over $600. Investors are wondering if this could be labeled the ‘new king of cryptocurrencies’.
But Bitcoin Cash got off to a slow start in the beginning. If it was not for the Bitcoin Cash mining algorithm breathing life into the new instrument, it would not seem as attractive to profit-seeking computer miners.
Once the finance markets got wind of this jump and rise in the rate at which the ‘blocks’ were being produced (known as hash rate), traders and investors started to bid up the BCH price, hence its rise in popularity.
5 Facts You Should Know About Bitcoin Cash
- Created from a hard fork of Bitcoin and expected to have quicker reactions to transactions, the Bitcoin Cash fork occurred at block 478,559.
- Despite its reasons for creation and its origins, the BCH coin is considered an altcoin for now. It is not Bitcoin and has no direct connection to Bitcoin’s value.
- Having said that, Bitcoin Cash is its own currency and is useful in that it functions just as Bitcoin does only faster due to the increase in its block size.
- When the hard fork occurred, the coin held no value at all and investors were able to gain ‘free coins’ – from the split of Bitcoin. As in this case Bitcoin Cash saw major changes in the market and managed to secure their place in the ‘top coins’ listing by market cap in November 2017.
- Investors have speculated that Bitcoin Cash was created only because high fees and slow transactions would destroy Bitcoin, and not because Bitcoin was reaching its maximum output of blocks.
Why Trade Bitcoin Cash with Introvurt
- We offer leveraged trading on Bitcoin Cash CFD trades with up to 20:1 leverage
- You can start trading Bitcoin Cash from as little as $50
- Trading the volatile BCH coin is an ideal addition to any financial trading portfolio
- Introvurt offers Bitcoin Cash trading around the clock, for your convenience
- You can SELL Bitcoin Cash (go short) and potentially profit even when the Bitcoin Cash price is on a downtrend
- Enjoy live language-specific customer support around the clock
- Zero exposure to hacking or theft simply because you don’t actually buy or sell the cryptocurrency
- Introvurt is regulated on 5 continents