Buy Bitcoin Cash (BCH)
What is Bitcoin Cash?
Bitcoin Cash (BCH) is a cryptocurrency created as a result of a hard fork from Bitcoin in 2017. It aims to serve as a peer-to-peer electronic cash system with a focus on scalability, efficiency, and lower fees. Bitcoin Cash was designed to provide faster transaction processing and improved decentralised cash system utility by increasing the block size compared to Bitcoin.
How does Bitcoin Cash work?
Bitcoin Cash operates on a blockchain, employing a Proof-of-Work (PoW) consensus mechanism similar to Bitcoin. It uses the SHA-256 hashing algorithm and has a larger block size of up to 32 MB, which allows for more transactions to be processed per block. Bitcoin Cash also supports smart contracts through the Simple Ledger Protocol (SLP) and has implemented the Adaptive Block Limit Algorithm (ABLA) to adjust block sizes dynamically.
What are the potential use cases for Bitcoin Cash?
Bitcoin Cash can be used in various scenarios due to its rapid transaction speeds and low costs. It serves as a peer-to-peer electronic cash system and is suitable for everyday transactions, remittances, crowdfunding, decentralised finance (DeFi), and IoT integration. Additionally, it facilitates tokenization and asset management, cross-border trade, and supports DeFi applications and smart contracts. Its real-world applications extend to online microtransactions, international payments, and privacy enhancement.
What is the history of Bitcoin Cash?
Bitcoin Cash was created in August 2017 following disagreements within the Bitcoin community over scalability and block size limits. The founding team included figures like Haipo Yang and Roger Ver. Key milestones in its history include increasing the block size limit to 32 MB, developing the SLP for token creation, and introducing privacy tools like CashFusion. In November 2020, Bitcoin Cash underwent another split creating Bitcoin Cash Node and Bitcoin Cash ABC, with most support swaying towards Bitcoin Cash Node. Over time, it has evolved by integrating smart contracts, enhancing scalability, and achieving significant market presence.
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Frequently Asked Questions (FAQs)
What is the current price of Bitcoin Cash (BCH)?
The Bitcoin Cash price is $739.67 AUD, representing a -1.75% from the day prior.
Where is the best place to buy Bitcoin Cash (BCH) in Australia?
The best place to buy Bitcoin Cash (BCH) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Bitcoin Cash (BCH) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Bitcoin Cash (BCH)?
The trading volume of Bitcoin Cash (BCH) is $631.5M AUD in the last 24hrs, representing a -1.75% from the day prior.
How can I buy Bitcoin Cash (BCH)?
Bitcoin Cash (BCH) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Bitcoin Cash (BCH)?
The current market cap of Bitcoin Cash (BCH) is $14.5B AUD.
Can I convert Bitcoin Cash (BCH) to cash?
Yes - With Coinstash you can convert your Bitcoin Cash (BCH) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Bitcoin Cash (BCH) are there?
The current circulating supply of Bitcoin Cash (BCH) is 19.8M.
Is Coinstash a safe place to buy Bitcoin Cash (BCH) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Bitcoin Cash (BCH) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.