1. Signup on Savitar
To get started, you need a Savitar account. It provides you with a safe way to store your Bitcoin Cash, as well as a platform to buy and sell them with your local currency.
2. Credit your account
After signing up, you'll need to credit your account. Before that, you'll have to complete some verification steps. Once your account has been validated, you will be able to add your credit card or credit your account through wire transfers.
3. Buy and sell Bitcoin Cash
You are now able to buy Bitcoin Cash. Since its price fluctuates, you can check it before validating your purchase. Once you confirm your purchase, we'll complete your order and deliver your Bitcoin Cash. It works exactly the same simply the other way around for sales.
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What is Bitcoin Cash (BCH)?
Bitcoin Cash was forked from Bitcoin and propose a similar infrastructure. Bitcoin Cash long-term goal is to compete with payment processors like PayPal or Visa regarding transactional capacity. The main change implemented by Bitcoin Cash in regards to the original protocol was to increase the block size by eight times on its inception, from 1MB for Bitcoin to 8MB for Bitcoin Cash. The block size was raised a second time through a hard fork on May 15, 2018, to reach 32MB.
Bitcoin Cash was created in July 2017 by a consortium of miners, investors, and developers that were not satisfied by Bitcoin's Segwit improvement plan proposed by the community. Bitmain, a mining equipment producer is one of the main proponents of the project. The block size increase was an ongoing debate in the Bitcoin community.
Bitcoin Cash pros
- Because of the increased block size, Bitcoin Cash can handle up to ~235 transactions per seconds which is roughly an 32x improvement over the original Bitcoin (~7 tps).
- The transaction fees of the Bitcoin Cash network are lower than on the original Bitcoin network.
Bitcoin Cash cons
- The increased block size comes with a cost: it increases the theoretical maximum size the blockchain can reach. With an 32MB block size, it means that the size of the whole Bitcoin Cash blockchain would increase by 4.4GB for each day operated at full capacity.
- Bitcoin Cash blockchain size is currently in check, and even lower than Bitcoin's. The main reason is the lack of adoption of Bitcoin Cash: the network never operated at capacity for sustained periods of time. Over the first 9 months of 2018, roughly ten times fewer transactions were happening over the Bitcoin Cash network than the original Bitcoin protocol.
- There are many concerns regarding the centralization of the protocol. Regarding the governance, there is an apparent lack of transparency as some actors concentrate most of the decision power. On the architectural dimension, the network's nodes and miners distribution appear to be quite centralized.
|Max Supply||Circulating Supply||Issue Date||Issue Price||Consensus Protocol||Explorer|
|21,000,000||17,412,100||2017-07-24||1 BCH / BTC||POW||(https://blockchair.com/bitcoin-cash/blocks)|
|Total Supply||Cryptographic Algorithm||Source Code||White Paper||Website||Type|