What is BCH
What is BCH?
Bitcoin is the first cryptocurrency that has been setting the direction for the digital currency market development for many years and is its leader. However, the first cryptocurrency has minor drawbacks (high fees, low scalability, and so on). Many development teams aim to create an improved version of Bitcoin, and one of such projects is Bitcoin Cash (BCH).
The adherents of Bitcoin Cash call BCH a “real Bitcoin”, explaining it by the fact that the project has eliminated the shortcomings of the “big brother”. The project has received the support of investors and big companies.
The cryptocurrency started to be traded on exchanges on the 24th of July 2017, and then the BCH rate was $440. Later, on the 20th of December 2017, the cost of one coin jumped to $3923. After that, a significant correction followed, and in March 2020, the price of BCH fell to $152. During the bull run in May 2021, the price of Bitcoin Cash was $1542, after which it was corrected to $540.
First of all, the BCH cryptocurrency was designed as a tool to enable convenient and efficient payment, and the project has really reached a certain level in this direction. The fact that it has entered into a partnership agreement with PayPal and has been included in the list of currencies of this service can serve as proof of the Bitcoin Cash growth. It means that the customers can pay bills with BCH. BCH coin has been included in the list of payment currencies in 4300 stores worldwide.
In April 2020, the miner reward was reduced from 12.5 BCH to 6.25 BCH. This procedure is called “halving”. As a result, it reduced the network’s hash rate, as miners began to move to projects with higher earning prospects.
How to buy BCH?
You can buy cryptocurrency in your personal account on the WhiteBIT website. It can be done in several ways:
- Perform a simple swap;
- Make a P2P exchange;
- Activate a WhiteBIT Code;
- Use the Trade tab and place an order.
You can convert digital coins in your personal account on the WhiteBIT cryptocurrency exchange. You do not need to create an external BCH wallet to do it – the funds will be credited to your deposit.
The minimum exchange size is 5 USD, or 0.0001 BTC. There is no maximum limit on the WhiteBIT cryptocurrency platform.