Bitcoin Cash Trading Symbol: BCH. It was released August 2017 as the system is peer-to-peer electronic cash. The main aim of BCH is to overcome the perceived weaknesses that BTC (bitcoin) has, mostly on transaction time. However, most people are believers that BCH is actually part of bitcoin or even an altcoin. Which is really wrong. BCH is actually a hard-fork of Bitcoin Core Network.
As Erik Voorhees, CEO of ShapeShift said:
Fellow Bitcoiners, are you ever going to realize how problematic these fees are getting? Avg fees now over $40 per tx. A year ago avg fee was $4. A year prior, $0.40. Growing faster than price, and exponentially with usage. We just spent $4800 to move 15 BTC in one TX. –
Complete in Depth Bitcoin Cash coin profile!
Now here is a perfect example with infographics about the future of BCH:
A Hard Fork sounds daunting but is just when a cryptocurrency splits in two. The original Bitcoin continued on while Bitcoin Cash split off with their new update and they are now completely separate from each other.
Although Bitcoin (BTC) and Bitcoin Cash (BCH) share a name, they are now two completely separate currencies. Just because you have an address with one doesn’t mean you own it on the other and you cannot just transfer between these two currencies. You will first need to get your currency onto an exchange to trade first, then you can withdraw to your own compatible wallet.
The beauty of the internet and internet currency is that you can trade the markets all the time 24/7 365 days of the year. Buying or Selling BCH is very easy and simple on the iceCUBED Exchange. Simply select the BCH/ZAR trading pair or one of the many other BCH pairs to place your BUY and SELL orders.
The best way to store Bitcoin Cash or any cryptocurrency is by using a Hardware Wallet. This way, you and you only have control over your coins and they can not be hacked or scammed. Never store your coins on an exchange or web-based wallet where you do not control the private keys. Only keep coins on an exchange that you intend to trade with, there is no reason not to.
Trading BCH like a commodity is very much the same as trading gold, the difference being, BCH in this instance are like digital gold. Just like gold is traded on stock markets all over the world, BCH can also be traded on exchanges all over the world. The price at which BCH is trading is purely down to supply and demand. We do not get involved in any trading (i.e. We do not sell or buy on the exchange). The local market price for BCH in South Africa is down to the users trading on the exchange.
At iCE3X we provide the following BCH trading pairs: