What is Bitcoin Cash (BCH)?

Bitcoin Cash (BCH) is the fork of Bitcoin (BTC). It was created in 2017 due to a divided vision of two developer groups on the future of Bitcoin. A group of bitcoin developers suggested a few technical solutions to enhance Bitcoin's transaction speed. But these suggestions were opposed by some other developers leading to a split between them and the creation of an entirely new blockchain named Bitcoin cash (BCH). The motive behind creating Bitcoin Cash was to allow the accommodation of larger blocks as compared to the original Bitcoin blockchain so that the transaction speed can increase. Just like Bitcoin, Bitcoin Cash has also capped its supply at 21 million. BCH also went through another fork in 2018 that created Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision) out of which the ABC version is known as Bitcoin Cash (BCH) now.

How does Bitcoin Cash (BCH) work?

Bitcoin Cash (BCH) works on a similar algorithm to Bitcoin, the proof-of-work consensus mechanism and SHA-256 hashing algorithm. It is designed to serve as transactional currency based on an electronic cash payment system. The BCH users can receive and send their coins by entering public key information of their wallets.

The primary difference between BTC and BCH lies in its block size. Bitcoin cash employs 4-8 times larger block size than BTC to process swift transactions. This made Bitcoin Cash support 25k transactions per block which are only between 1k to 1.5k in Bitcoin. While this approach greatly improved the transaction speed, the larger block size also started to require more computational power to get verified by the nodes. However, BCH is very suitable for smaller transactions like buying a coffee.

How to Buy Bitcoin Cash (BCH) in India?

There are many platforms where you can invest and trade BCH in India.

One such platform is Flitpay. To buy BCH in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy BCH, and execute the BCH purchase through the Flitpay "Quick Buy and Sell"" option.

You can instantly convert your INR to BCH and BCH to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What do I do after buying Bitcoin Cash (BCH)?

Bitcoin Cash (BCH) can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY.  You can also till it reaches a high price and then sell it through the FLITPAY OTC order facility. Users can earn significant profit from buying it at a lower price and selling it at a higher price.

Why Use Bitcoin Cash?

Bitcoin Cash (BCH ) can process a transaction way faster than Bitcoin. It means that users don't have to wait as much as compared to Bitcoin for completing a transaction. This property of Bitcoin cash (BCH) can be very useful in completing everyday transactions in the future. The continuous adoption of crypto as a mode of payment in businesses looks like a great opportunity for Bitcoin Cash to shine in the upcoming years. Moreover, it has a limited maximum supply of 21 million out of which only 9-10% is left to mine. It also serves as a strong reason to buy and use Bitcoin Cash.

FAQs

What is Bitcoin Cash (BCH)?

Bitcoin Cash is the forked coin of Bitcoin. It was created to improve the speed of the transactions that take place on its Blockchain. It shares many similarities with Bitcoin like the same proof-of-work (PoW) mining consensus mechanism.

What is the Bitcoin Cash (BCH) price in India?

Check out the current INR price of BCH  crypto in India on Flitpay.

Which is the best platform to buy Bitcoin Cash (BCH) in India?

The best platform to buy BCH or your favorite cryptocurrencies in India is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the Benefits of Bitcoin Cash (BCH)?

Bitcoin Cash can support up to 25,000 transactions per block which are very high as compared to a mere 1000 to 1500 transactions per block of Bitcoin. This makes BCH very suitable for penny transactions.

Is it safe to invest in Bitcoin Cash (BCH) in India?

Yes, investing and trading Bitcoin Cash is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying BCH crypto. It offers real-time prices and advanced investing features.

Is Bitcoin Cash (BCH) a Good Investment?

BCH solves a big concern related to transaction speed associated with Bitcoin. But its big block size requires higher computation power to get verified. That's why nothing can't be said surely for its future currently. But anything can happen in the fast-paced and highly volatile crypto market so invest wisely.