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In today’s fast-paced digital world, crypto enthusiasts and traders need a reliable and user-friendly cryptocurrency exchange app. KoinBX, a leading cryptocurrency exchange platform, offers a mobile app that allows trading on the go. In this article, we will explore what is Bitcoin Cash and how to buy on the KoinBX crypto exchange app. We will also explore how it simplifies cryptocurrency trading and enhances the overall user experience.

Bitcoin Cash (BCH) is a Peer-to-Peer (P2P) digital currency system that intends to be a global currency with a rapid payment facility, lowest fees, high privacy, and huge block size. As a permissionless, decentralized crypto, BCH requires no trusted third parties.

BCH was created as an alternative to Bitcoin (BTC). In 2017, Bitcoin Cash developers modified the Bitcoin code and released their software version. Then, they created a viable product splitting Bitcoin into two blockchains: BTC and BCH.

Bitcoin Cash is a result of a hard fork in the blockchain due to differences in the community over Bitcoin scaling and the Segregated Witness (SegWit) upgrade. Furthermore, another hard fork divided Bitcoin Cash into two parts, Bitcoin ABC and Bitcoin SV, in 2018.

Small block supporters opposed increasing block size leading to blockchain centralization and vulnerability by making it harder to host full nodes. Large block supporters advocated for a faster solution, concerned that increasing transaction fees could hinder growth.

How does BCH work?

Due to the bigger block size, BCH works quicker and charges lower transaction fees while supporting smart contracts and ecosystem apps.

With a limited total supply of 21 million coins, BCH is provably rare and easily spent like physical cash. Transactions are rapid, with fees typically less than a tenth of a cent.

In addition to P2P payments between individuals, BCH can be used to pay participating merchants for goods and services both in-store and online. Low fees enable new micro-transaction markets such as rewarding content creators and app users. BCH also reduces the expenses and settlement times for remittances and cross-border trade. Additional use cases include tokens, simplified smart contracts, and private payments with tools.

How does BCH differ from Bitcoin?

Bitcoin Cash was considered to be the legitimate continuation of Satoshi Nakamoto’s vision of Bitcoin as a P2P electronic cash. All Bitcoin holders at the time of the hard fork automatically became owners of BCH.

From a technical perspective, BCH is similar to the Bitcoin algorithm. The BTC and BCH projects use Proof-of-Work (PoW) consensus framework and validator nodes to verify transactions. The hard cap of both BTC and BCH is 21 million coins.

Unlike BTC, BCH aims to scale for satisfying the growing demands of a global payment system. The block size of BCH was increased from 1 MB to 8 MB during the split.

An increased block size means BCH can now handle significantly more Transactions Per Second (TPS) at low transaction fees, solving the issues of payment delays and high fees experienced by some users on the BTC network. As of 2023, BCH has a block size of 32MB, compared to Bitcoin’s block size of 1 MB.

Security

As with Bitcoin, BCH is secured by a PoW consensus mechanism, where miners solve computationally intensive puzzles to validate transactions and create new blocks.

Mining of BCH

Mining is the process of confirming new BCH transactions and adding new blocks to the blockchain. Miners use computing power and electricity to solve complex puzzles and produce new blocks of transactions. If one of the transaction blocks is accepted by the network, the miner earns a new BCH as a block reward.

Mining is highly competitive. With the increase in the BCH price in the marketplace, more miners are incentivized to bring more hash rates into the miner competition to produce and accept blocks by the BCH network. More miners make the blockchain network highly secure by increasing and distributing the hash rate. This prevents a single miner from having complete control over the web.

Benefits:

Rapid and Less Expensive Transaction — BCH requires less transaction cost and holds the capability of processing more than 100 transactions per second. Hence, it can be considered the most viable payment platform.

Accessible — Among the thousands of cryptos existing in the market, BCH is considered the most popular crypto and is purchased from the basic crypto exchanges.

Highly Scalable — Larger BCH blocks enable the blockchain to increase its scalability, leading to numerous transactions and lower fees.

Decentralized Money — Investors are often concerned about the centralized nature of the financial system. Hence, they opt for BCH as it offers a decentralized currency system that is not controlled by a single entity.

Tokenomics

Token Name: Bitcoin Cash

Ticker Name: BCH

Total Supply: 19,426,556.25 BCH

Circulating Supply: 19,426,556.25 BCH

Max Supply: 21,000,000 BCH

Market Cap: $3B

Future of BCH

When it comes to the future of cryptos, BCH is certainly finding its own space in the crypto market. While BTC has the mindshare, BCH grabs more attention as more traders accept the crypto assets. BCH is a rapid and cheaper network.

How to Buy BCH?

Follow the below steps to buy BCH coins,

1. Signup with KoinBX.
2. Fill in the needed details to create an account.
3. Complete your KYC verification process.
4. Add your bank account.
5. Deposit Fiat to your KoinBX account.
6. Click Buy to start buying BCH with INR & BCH with USDT.

To make your BCH trade anywhere, anytime with the great trading experience with KoinBX Android and iOS app.

Crypto is becoming increasingly popular as a new form of investment. Among the various crypto, Bitcoin (BTC) and Ethereum (ETH) have emerged as two of the most prominent and widely traded ones. While Bitcoin and Ethereum share similarities in being decentralized and built on blockchain technology, they differ significantly in their underlying philosophy, purpose, and design. We will explore the key differences between Bitcoin and Ethereum and highlight what sets them apart.

Bitcoin(BTC)was the first crypto to be introduced, operating on a decentralized network that allows for secure and anonymous transactions. Ethereum(ETH), on the other hand, was introduced in 2015 and is a decentralized platform that enables the creation of decentralized applications (DApps) and smart contracts.

 Ethereum also has its crypto Ether (ETH), which is used to facilitate transactions within the Ethereum network. While both cryptos have their unique use cases, Bitcoin is primarily viewed as a digital asset, while Ethereum is seen as a platform for building decentralized applications. While ETH can also be used as a medium of exchange, the primary focus is to enable developers to build decentralized applications on top of their blockchain.

            Bitcoin and Ethereum both use blockchain technology, but they differ in their approaches to transaction processing. Bitcoin uses a consensus protocol known as proof of work (PoW), which allows network nodes to agree on the state of all information recorded and prevents certain types of attacks on the network. It restricts the number of transactions that can be processed per second. In Bitcoin proof-of-work, a cryptographic hash function (SHA256) that generates a 256-bit signature for a text is used, and it uses two hash functions at the same time. 

Ethereum moved to proof of stake (PoS), a set of interconnected upgrades, which makes Ethereum more secure and sustainable. Ethereumuses a more advanced technology called the Ethereum Virtual Machine (EVM) that allows for faster transaction speeds and more complex smart contracts. This makes Ethereum more suitable for developing and running decentralized applications. BTC is more widely adopted than ETH, but ETH is rapidly gaining ground in the decentralized finance (DeFi) space.

Bitcoin is currently the largest crypto in terms of market capitalization, with a market capitalization of over $ 1% trillion, while Ethereum has a market capitalization of around $ 400 billion. The price of BTC is also significantly higher than that of ETH. However, BTC is also more unpredictable than ETH, which means that its price can fluctuate rapidly and unpredictably. Additionally, Bitcoin is more commonly accepted as a form of payment by merchants and individuals than Ethereum.

Both have strong security measures in place to prevent hacking and fraud. The BTC price may have changed to reach around $32000 & ETH price around $2000, by the end of 2023. While both cryptos have seen significant growth in recent years, BTC remains the dominant player in the crypto market.

The prospects of Bitcoin (BTC) and Ethereum (ETH) are uncertain, but there are some indications of where they may be headed. Bitcoin (BTC) transactions are irreversible, secure, and anonymous, making it an ideal currency for online transactions. Ethereum’s (ETH) purpose is not limited to serving as a currency, but it also aims to revolutionize various industries such as finance (DeFi apps), supply chain, and gaming.

 Bitcoin (BTC) will continue to be used as a store of value,upgrade to enable smart contracts and means of exchange, while ETH will likely see increased adoption in the Decentralized finance space and beyond.

            With more exchanges offering a secure way to buy and sell cryptos, demand for them has increased. KoinBX, a global multi-crypto exchange, provides an easy and simple way to buy, sell and trade a variety of cryptos using Androidand iOSapps.

Follow the steps to buy, sell, and trade BTC, and ETH with KoinBX.

1.    Signup with KoinBX.

2.    Create your trading account to buy, sell, and trade multi-cryptos.

3.    Complete the KYC process and link your bank details.

4.    Deposit Fiat currency for adding funds to your KoinBX wallet.

5.    To buy, sell, and trade BTC with INR& ETH with INR. 

Conclusion:

KoinBX is a reputable and trusted cryptocurrency exchange platform that offers a secure and user-friendly environment for trading digital assets. With its wide range of supported cryptos, competitive fees, robust security measures, and dedicated customer support. KoinBX is an attractive choice for both novice and experienced traders. By following the necessary steps to signup, fund your account, and explore the platform's features, you can confidently and conveniently embark on your cryptocurrency journey.

In recent years, cryptocurrency has emerged as one of the most widely discussed investment choices. With its potential for high returns, many individuals are looking to venture into crypto. However, investing in cryptocurrencies may seem daunting at first. It is important to do research and invest in reputable platforms and coins. And the most common cryptos are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano(ADA), Polkadot(DOT) and etc.

what is crypto?

Crypto is a digital or virtual currency designed to work as a medium of exchange and digital asset that uses encryption techniques to secure and verify transactions.

How is it used?

Crypto uses decentralized ledger technology called blockchain to record transactions and secure the network. Crypto can be used for investment and trading. To use crypto, need to create a digital wallet through a crypto exchange.

How to Trade Crypto:

You can utilize a Global Crypto Exchange platform, such as KoinBX, to buy, sell Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and other altcoins using Indian Rupees (INR) or Cryptos with ease and securely.

KoinBX offers instant INR deposit and withdrawal options. This makes it easy for traders to deposit and withdraw their funds instantly at any time from anywhere without delay. This platform also allows users to link their bank account to deposit and withdraw funds instantly, 24/7 support, high liquidity, minimal trading fees, and a great referral program. Their goal is to provide a user-friendly platform with a hassle-free trading experience for users worldwide.

Buying, selling, and trading crypto with KoinBX is easy. Follow the below steps to buy cryptos,

1. Signup with KoinBX.

2. Fill in the required details to create an account.

3. Complete your KYC verification process. Complete the KYC verification and add a bank account. Once the account is created and verified, you can deposit funds on the KoinBX wallet (as per the website policy).

4. With the funds, place an order to buy, sell, and trade cryptos with INR & USDT like Bitcoin (BTC) with INR and Ethereum (ETH) with INR.

5. To make your trade anywhere, anytime with the great trading experience with KoinBX Android and iOS app.

Investing in crypto using an exchange app has become more accessible and user-friendly, making it an attractive option for individuals looking to enter the cryptocurrency market. Remember to conduct thorough research, develop an investment strategy, and stay updated with the latest market trends. Happy investing!!!