Why is Bitcoin Cash important to traders?
Launched in 2017, Bitcoin Cash (BCH) has already established itself as a rather prominent player in the crypto market. Also known as Bcash within its community, it was quickly adopted by investors, and by the end of the first day of its existence, BCH became the third cryptocurrency behind BTC and ETH in terms of market capitalisation. Today, it keeps its strong position in the top five list.
Bitcoin Cash is arguably Bitcoin’s most successful offshoot, differing from the other versions of that time by enabling the increase of the block size from one MB to 32 MB. This feature was developed to make the technology more scalable, allowing to process more transactions per second and helping to support the use of the cryptocurrency not only as a store of value but also as a means of payment. Besides, Bitcoin Cash offers cheaper transfer fees per transaction than Bitcoin, which makes it more attractive to active investors and traders who transact crypto more often.
Since its inception, the Bitcoin Cash network’s protocol and third-party infrastructure have grown rapidly, with many exciting projects and applications being built on and around the BCH chain.