Is Bitcoin Cash a Good Investment and Should I Invest in Bitcoin Cash?
Bitcoin Cash Investing
Should I Invest in Bitcoin Cash? Is Bitcoin Cash a Good Investment?
If you are new to the world of Bitcoin Cash investing, you might be wondering if Bitcoin Cash BCH is a good investment or should I invest in Bitcoin Cash?. Well, let’s break all Bitcoin Cash-related myths circulating online before you consider investing in Bitcoin Cash BCH.
So, here is all you need to know about Bitcoin Cash: one of the most controversial digital assets in the cryptocurrency investing sector.
Getting Started With Bitcoin Cash Investing
To start investing in Bitcoin Cash BCH, you first need to Sign up online with an exchange that will allow you to buy and invest in Bitcoin Cash. An exchange broker is an online platform that enables you to buy and sell Bitcoin Cash as well as many other cryptocurrencies that they have listed on their platform.
If you want to buy and invest in Bitcoin Cash BCH quickly and easily with your credit card check out eToro Exchange!
What is Bitcoin Cash?
Bitcoin cash BCH is one of the top 10 cryptocurrencies. Though do not simply invest in any asset just because it’s popular! You should instead invest in something you can understand and be able to evaluate.
So back to the question, what is Bitcoin Cash? Bitcoin Cash is a cryptocurrency created in 2017 as a hard fork of Bitcoin. Here we should mention that a hard fork refers to any radical changes to a blockchain platform’s protocol; changes that all nodes should comply with.
Though Bitcoin is considered the most successful traded cryptocurrency, we all know that Bitcoin is not a perfect cryptocurrency.
Speed or security, that is the question!
That’s right, After a lot of heated discussions across the cryptocurrency community, Bitcoin Cash was created in 2017 in order to improve the scalability of Bitcoin and facilitate everyday transactions and investing.
To achieve this goal, Bitcoin Cash was designed with eight times larger blocks than Bitcoin - a fact that attracts many cryptocurrency investors to consider adding Bitcoin Cash to their portfolio and to invest in Bitcoin Cash BCH.
Here we should note that the size of any Bitcoin block is limited to 1MB, which is believed to give enough time between transactions in order to improve validation and security.
Is Bitcoin Cash a Good Investment?
Yes, Bitcoin Cash can be a good investment and a great way to diversify your portfolio when done right.
The truth is that Bitcoin Cash has a market cap of $4,814,767,530 and a 24-hour trading volume of $1,666,584,587, at the time of writing, which makes Bitcoin Cash one of the top 10 traded cryptocurrencies out there.
But what does that mean to investors? We are often bombarded with numbers we hardly understand, so let’s put numbers in perspective. A high trading volume means high liquidity, or how easily an asset can be bought and sold. Market cap, on the other hand, refers to the value of an asset on the market.
While many factors can affect the success rates of cryptocurrency investment, including demand and supply, market sentiment, crypto news, and tech innovations, the truth is that many big Bitcoin investors believe that Bitcoin Cash is a good investment.
Interestingly, one of the main supporters of Bitcoin Cash is charming Roger Ver, known as the Bitcoin Jesus, who tweeted just a few days ago (November 13th): “BCH works as cash. BTC no longer does. That’s why Bitcoin Cash is for everybody.”
Should I Invest in Bitcoin Cash?
Why Should I consider investing in Bitcoin Cash? It’s not only big investors that are interested in Bitcoin Cash investing, though. You can also invest in Bitcoin Cash!
But is accessibility enough for you to invest in Bitcoin Cash? Just because you can invest in Bitcoin Cash, that doesn’t mean you should.
And here, dear crypto investor, we can’t give you a precise answer. Simple because there’s no one-size-fits-all approach to crypto investing and it’s all up to you and your financial goals!
All we can do is help you make an informed decision. And the truth is that Bitcoin Cash provides fast transaction times, low fees, and better scalability than Bitcoin.
Thus, if you believe that Bitcoin is not the only coin worth watching and if you think that larger blocks can improve scalability, then investing in Bitcoin Cash might be the right option for you.
Oh, and though we can’t promise that you’ll make money with cryptocurrency, don’t be surprised that the number of investors who want to have Bitcoin Cash in their portfolios is increasing, including:
- Crypto enthusiasts who believe that Bitcoin Cash is better and more scalable than Bitcoin
- Investors who are willing to take a risk and invest in Bitcoin Cash and its adoption in the long-term
- Day traders who are betting on possible price swings and crypto interest in Bitcoin Cash
- Miners who want to escape from Bitcoin and its concentration of hashpower
Would you consider investing in Bitcoin Cash BCH?
Should I Invest in Bitcoin or Bitcoin Cash?
So are you interested in investing in Bitcoin Cash or do you prefer Bitcoin BTC, the first and most popular crypto asset?
If you are still not sure, let’s list the advantages of Bitcoin Cash investing to help you make an informed decision.
Though Bitcoin Cash is very similar to Bitcoin, with different pros and cons and a limited supply of 21 million coins, Bitcoin Cash is different and may help resolve Bitcoin’s scalability issue.
Bitcoin Cash can handle more transactions per second and has lower fees (around $0.20) compared to Bitcoin.
In fact, Bitcoin Cash can handle around 25,000 transactions per block; in comparison, Bitcoin processes 1,000-1,500 transactions per block.
Bitcoin Cash is also considered a safe investment that - despite its bigger blocks - hasn’t been hacked since it was launched. In contrast, Bitcoin is still somehow associated with illicit activities and the Silk Road.
In the end, however, it’s up to you and your beliefs; only you can decide if Bitcoin Cash is a better investment than Bitcoin.
Let’s not forget that what works for some investors might be a terrible financial choice for you, so the final decision - whether to invest in Bitcoin Cash or not - is yours!
How Much Could Bitcoin Cash Be Worth?
You may want to know how much Bitcoin Cash could be worth in the years to come, before you decide to invest in BCH.
The truth is that nobody knows! The cryptocurrency market is highly volatile and dependent on demand and supply, so it’s hard to give accurate price predictions.
On top of that, the ongoing pandemic and the bearish market it triggered in March 2020 showed the whole world that there’s nothing certain in the financial world.
That said, past performance and data analysis can help investors and traders to make forecast predictions.
So let’s start with Bitcoin Cash and its performance in the past. When it was launched, Bitcoin Cash had an opening value of around $290, which reached almost $700 the next day. At the end of 2017, on the other hand, Bitcoin Cash jumped to over $4,000.
Bitcoin Cash Performance (Source: Capital; Retrieved from https://capital.com/trade-bitcoin-cash)
Since then, Bitcoin Cash has been a more stable investment, with one BCH trading at $259.27 at the time of writing. According to some positive predictions, the value of Bitcoin Cash may double in 2021.
To give an example, according to Digital Coin Price, Bitcoin Cash might range between $500 (max) and $60 (min), and may even reach almost $700 by the end of 2021.
We can only wait and see what 2021 holds for Bitcoin Cash investing!
Is Investing in Bitcoin Cash Risky?
Yes, investing in Bitcoin Cash, or any asset, can be risky.
Put simply, no highly profitable asset is completely safe, and cryptocurrencies are by no means an exception to this simple rule. Nevertheless, there are some things that directly affect Bitcoin Cash or any cryptocurrency and, as a result, the safety of investing in Bitcoin Cash.
- A large community of supporters and enthusiasts
- A development team working on the project.
- Wide use or adoption, i.e., the ability to use Bitcoin cash to pay for various payments and the ease of buying and selling it.
All three of these above indicators for Bitcoin Cash are at a strong level. Therefore, it can be thought that investing in Bitcoin Cash is safer than investing in most other cryptocurrencies, though not risk free!
The truth is that Bitcoin Cash has had numerous ups and downs over the years, but still, it has some great opportunities for investors.
Thus, always do your research before you decide to invest in Bitcoin Cash and never invest more than you can lose. Risk management is crucial to help you set stop-limit and stop-loss orders and overcome financial distress.
Conclusion: Is Bitcoin Cash a Good Investment
Should You Invest in Bitcoin Cash?
Invest in Bitcoin Cash BCH or any asset can be very risky if you don’t know what you’re doing, mainly during uncertain times. You may be asking yourself, “should I buy Bitcoin Cash right now?” So here’s a tidbit, investing your money doesn’t have to be complicated.
While no investment is risk-free, investing in Bitcoin Cash might generates good return in the coming years. Whether you’re new to Bitcoin Cash investing or just curious about how to make the most of your capital, understanding what to know before investing in Bitcoin Cash BCH is critical.
The below prediction figures outlines some of the Potential high and low of Bitcoin Cash BCH price prediction forecasts in 2020, 2021, 2022, 2023, and 2025+ offered by analysts and industry experts.
Despite its controversial history and unclear future, Bitcoin Cash has managed to become one of the top cryptocurrencies.
So, if you are wondering if you should invest in Bitcoin Cash or not, we assure you that the final decision comes down to you.
- Whether you decide to buy or trade Bitcoin Cash, you should choose a reliable platform, Like eToro.
- Depending on your goals, do not forget that a strict plan and healthy trading routines are crucial, so do not hesitate to explore our site to help you climb the ladder of Bitcoin Cash investing success.
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- Bitcoin Cash is a hard fork of Bitcoin created in 2017 to address Bitcoin’s shortcomings and scalability issues.
- One of the main differences between Bitcoin and Bitcoin Cash is that Bitcoin Cash has eight times larger blocks than Bitcoin.
- Bitcoin Cash aims to make transactions faster, cheaper, and more reliable across the globe. In fact, Bitcoin Cash is accepted by hundreds of online and brick-and-mortar retailers worldwide.
- Bitcoin Cash can be a good investment and a great way to diversify your portfolio when done right.
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Bitcoin Cash Investing - FAQs
What is the main purpose of Bitcoin Cash?
The main purpose of Bitcoin Cash is to serve as a digital payment system, resolve Bitcoin’s shortcomings, and help clients around the world to send and receive funds easily and at low transaction costs.
Where is Bitcoin Cash accepted?
Bitcoin Cash is now accepted by more than 945 online and 670 brick-and-mortar retailers to help their clients execute cryptocurrency payments for different products and services, according to data provided by CNN.
Will Bitcoin Cash overtake Bitcoin?
While Bitcoin Cash is a cryptocurrency that has some great investment potential, it’s unlikely for Bitcoin Cash to overtake Bitcoin, considered the most popular and traded digital asset across the globe.
What is the best Platform to start investing in Bitcoin Cash?
The best platform to invest in Bitcoin Cash is eToro that allows you to buy Bitcoin Cash with 0% Commission.
Disclaimer: Cryptocurrencies are highly volatile. Your capital is at risk and Past performance is not an indication of future results.