Would you like to invest in Bitcoin Cash? This new cryptocurrency, created on the 1st of August 2017, has begun to increase in value as of late, and many investors are asking how they can buy this cryptocurrency. If you are in a hurry to acquire Bitcoin Cash, you can click this link to buy/sell Bitcoin Cash CFDs without paying commissions from the online broker Plus500, one of the best online CFD brokers in the world. If, on the other hand, you are interested in learning more about this cryptocurrency and about how to buy and sell it, feel free to read the remainder of this articles which will describe these aspects in greater detail (80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money).
As we have mentioned before, the best-known cryptocurrency – Bitcoin – split in two on the 1st of August 2017. This has resulted in, on the one hand, a conventional Bitcoin with the same characteristics that it has always had, and, on the other hand, Bitcoin Cash which incorporates a number of changes and improvements in the hopes of furthering the popularity of Bitcoin transactions. From the moment they split, it seems as if these two cryptocurrencies have been competing against each other for dominance in the world of online payments. While competition between these two electronic currencies may ultimately be long and drawn out, both of these currencies could potentially remain present in the marketplace as viable means of payment. At any rate, Bitcoin Cash is a topic of daily discussion in the financial marketplace, and its price has increased a great deal since its introduction.
What factors influence the price of Bitcoin Cash?
If you are interested in investing in this cryptocurrency, you should really understand some of the factors that can influence the evolution of its price. Although it is impossible to know all of the causes behind the change in this asset’s value, we can extrapolate from past events, what type of factors have had an impact on cryptocurrencies as a whole. Up until recently, there was only one type of Bitcoin, but as we will see, there is a direct relationship between these two cryptocurrencies.
The first factor that influences a cryptocurrency’s value is how many people use it. Curiously enough, whenever one cryptocurrency increases in value due to positive news surround it, all other cryptocurrencies tend to increase in value as well. As a result, in 2017, the main cryptocurrencies (Bitcoin, Ethereum, Dash, Ripple, Zcash, Monero, Nem and Litecoin) have seen their value multiplied several times over. While there is no mathematical rule to predict this trend, as a general rule, what is good for one cryptocurrency has, historically, been good for them all.
Remaining on the topic of a cryptocurrency’s volume of use, every time that a financial institution accepts to use Bitcoin Cash or any other type of virtual currency as a payment method, its price increases. Therefore, the more companies decide to accept these payment methods and come to appreciate the advantages of blockchain technology, the more we can expect the use of cryptocurrencies to increase.
Another unexpected factor which has had a significant impact on the demand for cryptocurrency in the last few months is computer hackers. Recently, a number of computer viruses have spread across the internet like wildfire. These viruses demanded that the owner of the infected computer make a payment in cryptocurrency in exchange for not causing any damage to the computer. Curiously enough, this made the value of cryptocurrencies rise.
These are just some of the factors which have had an influence on the value of Bitcoin in the past, but that is not to say that they will continue to do so in the future. How can we predict what will happen to the value of Bitcoin Cash in the following days, months or years? Unfortunately, it is not possible to know for sure. Why is the price of Bitcoin Cash increasing now? Why might its value decrease tomorrow? Because hundreds of thousands of people participate in the marketplace and each one has his/her own motives and ideas about whether the value of the asset they are trading will rise or fall. The best thing for you is to make your own decisions based on your own analysis. In the end, if blockchain technology is accepted around the world, it is likely that the price of cryptocurrencies will continue to increase, but nobody knows for sure.
Why buy Bitcoin Cash?
The million dollar question is: “Should I buy Bitcoin Cash?” Once again, there is no simple answer, but it is possible to analyze the signs and signals offered to traders by the market. On the one hand, blockchain technology seems to be a clear step forward in terms of digital payment methods. Not only are blockchain transactions more secure, they can be completed in a very short time and the funds being transferred cannot be lost or stolen.
Another advantage of Bitcoin Cash is that it is open source, meaning that it will always be accessible to anyone at any time; moreover, it is completely anonymous and nobody can be excluded from participating in the network. Furthermore, payments are irreversible. To this should be added the fact that due to the high level of security and the other factors we mentioned earlier, blockchain transactions can be completed without going through an intermediary – which makes things a lot easier. All of these characteristics are common to both Bitcoin and Bitcoin Cash, but what distinguishes the latter from the former?
One of the things that distinguish Bitcoin Cash from Bitcoin is that it has an increased maximum block size of 8 MB. Moreover, it offers a new way of signing transactions. These improvements, which, generally speaking, eliminate some of the limitations of the original Bitcoin, make Bitcoin Cash a very attractive cryptocurrency.
Does this all mean that the price is guaranteed to increase if you buy now? No. As with all trading, there will always be risks. While this cryptocurrency’s future looks promising, and while the growth of cryptocurrencies as a whole has been spectacular, no one can say for sure what will happen in the future. For this reason, it is important that you be careful if you decide to trade Bitcoin Cash or other cryptocurrencies via CFDs – you should be aware of the fact that you will be putting your capital at risk.
Common doubts concerning PayPal
We have just ended our discussion about some of the most common issues concerning Bitcoin Cash and we are coming to the end of this article. The most pressing concern of any trader is how his/her assets will perform in the future and as we have just seen, there is no easy answer to this question.
In terms of how to buy and sell Bitcoin Cash, there are easy answers to be had. If you would like to trade an asset such as Bitcoin Cash, you will require a broker. These days, only a few CFD brokers offer the possibility of trading with cryptocurrencies, many of which should not be trusted since they are not licensed by any European Union country. We previously mentioned the broker Plus500, which is regulated by CySEC as well as by the FCA – the United Kingdom’s regulatory body. Moreover, this broker is traded on the London stock exchange which implies that it is a serious corporation. Obviously, it is not possible to be 100% certain that a company will never fail, but Plus500 seems like a reliable broker to us. Another important point is that this broker allows its clients to deposit funds into their trading account via PayPal. In addition to PayPal, this broker accepts deposits and withdrawals via Skrill, credit and debit cards as well as via conventional bank transfers.
I want to buy Bitcoin Cash, what do I need to do?
If this article is somewhat long, it is because there are so many things to say about BTC Cash. After having investigated this cryptocurrency together, we will now leave the ball in your court. If you would like to invest in this cryptocurrency, you will need to analyze all of the relevant information and decide whether to buy or sell BTC Cash. It is possible to make a profit either way since these days CFD brokers allow you to short-sell assets. We would just like to remind you of the risks involved in trading, you can just as easily lose money as you can turn a profit on your investment.
If you would like to buy Bitcoin Cash via CFDs, Plus500 is a good option; on this broker’s website, you will find all of the necessary instructions for opening an account from which you will be able to buy Bitcoin Cash CFDs. To facilitate the process, simply click this link to go to the section on Plus500’s website concerning how to buy and sell Bitcoin Cash CFDs without paying any commissions (80.6% of retail CFD accounts lose money).