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Bitcoin Cash has become one of the most popular forms of cryptocurrency upon its creation in the summer of 2017. Trading Bitcoin Cash is more and more active, and the very nature of this coin actually addresses some known issues with the original Bitcoin. If you want to enter the BCH trade, you need two things. First you should get acquainted with the basic history of this currency and then find the right broker or exchange through which you will be making the transactions. We are here to help you with both.
First and foremost – how did BCH emerge?
Bitcoin and Bitcoin Cash have a shared history but come 1 August 2017, they became two separate, distinct forms of cryptocurrency. The reasons for the fork are many and varied, but the most important among those is that it was much easier to actually fork the already existing Bitcoin blockchain and keep the original history than to start from ground Zero.
Basically, this means that all transactions in the blockchain of Bitcoin Cash prior to 1 August 2017 are the same as those in the original Bitcoin blockchain, while those that come after the creation of BCH are separate entities. To put things simply, if you owned Bitcoin in the forked chain, now you have the same amount of Bitcoin Cash in your wallet.
The main difference between BTC and BCH is that the latter has an increase from one to eight megabytes in the block size limit, thus increasing the amount of transactions that the ledger can process.
What makes BCH important?
Even though Bitcoin Cash was quite volatile in the first few days after its creation, and some users complained about not being able to access their wallets, its market share increased dramatically in the next few months. With prices around 2500$ per BCH, now it is the fourth biggest cryptocurrency in existence in terms of individual value and market cap alike.
The right broker for trading Bitcoin Cash
When it comes to finding the right broker or exchange to trade BCH through, the same rules apply as with the rest of the cryptocurrencies in existence. First and foremost the broker of choice should be regulated. Then come the platform that they are offering and the client support. The platform should be easy to work with and offering enough tools for you to quickly and successfully trade your BHC. As for the client support, as you already know cryptocurrencies are being traded literally every day of the week, 24 hours a day. So, the support team of your broker should be working non-stop too. You never know when you will be needing technical assistance and lack of such can result in serious losses on your part that would otherwise be avoided. Last but not least, there should be different account options for you to choose from and the broker needs to be offering opportunities to trade different types of other online currencies that you are interested in as well.
If you find it hard to pinpoint who the right broker or exchange for you is, have no fear. Our independent and very knowledgeable researchers will do the hard work for you and they will present you with evaluations and reviews of the top brokers and BHC exchange platforms in existence today, so that you can easily make your choice.