What Is Bitcoin Cash (BCH)?
Bitcoin, despite being the first and most widely-adopted cryptocurrency in the world, has serious limitations regarding speed, transaction fee, and scalability. People have come up with many creative ways to remedy the disadvantages of Bitcoin, one of which is changing the rules of the Bitcoin blockchain to allow for better processing speed.
Bitcoin Cash was created based on that idea in 2017. Originally, the proposal to increase Bitcoin's block size to improve on the network's performance was put forward. However, the majority of nodes voted against that change, so a hard fork was born as a result and Bitcoin Cash came to be as a separate ledger from Bitcoin at block number 478,558 on August 1, 2017 - two chains, same origin.
Since Bitcoin Cash is a hard fork of Bitcoin, when it was born, Bitcoin holders received the same amount of Bitcoin Cash to their wallets. Though Bitcoin Cash aims to replace the dominance of Bitcoin completely, it fails miserably, largely due to the transaction speed and low fee that it boasts. Nonetheless, since its inception, Bitcoin Cash has maintained its position as one of the most popular cryptocurrencies.
How Bitcoin Cash (BCH) Works
Bitcoin Cash, being Bitcoin's hard fork, technically works in the same way as its predecessor. It is a public decentralized digital ledger that implements the Proof-of-Work consensus mechanism, uses nodes to validate transactions, and has a total supply of 21 million tokens. Miners of Bitcoin Cash also receive the native tokens as reward for solving cryptographic questions and adding transactions to the blockchain. BCH, the token of Bitcoin Cash, is listed on many exchanges and can be freely traded just like Bitcoin.
On the other hand, while Bitcoin has 1MB in each block and can only process about seven transactions per second, Bitcoin Cash boasts 32MB per block and enables more than a hundred transactions to go through in one second. Bigger block size and faster transaction speed leads to another advantage of Bitcoin Cash, that is lower fee. In fact, a transaction on Bitcoin Cash mostly takes less than a penny in fee, drastically contrasting the sky-high USD 60 fee of the Bitcoin network.
Faster and cheaper are synonymous to better accessibility in the world of crypto.
Despite the aforementioned advantages, Bitcoin Cash does have its own shortcomings. The main one is the doubt against the security of the network. Critics of Bitcoin Cash say that the reason why it takes less time and fee for transactions to complete on Bitcoin Cash is because the network requires less mining, and thus it is considered less secure than Bitcoin.
How Many BCH Tokens Are There In Circulation/Supply?
Other than the bigger block size, Bitcoin Cash BCH shares the same properties and characters with Bitcoin. BCH has a total supply of 21 million tokens, is used to reward miners for their computing power, and has its periodical halving events.
Total Supply: 21,000,000 BCH
Max Supply: 21,000,000 BCH
Circulating Supply: 19,177,812.50 BCH
How to Buy Bitcoin Cash (BCH)
Consider investing in Bitcoin Cash (BCH)? It only takes 2 minutes to create an account on Bitget and start trading BCH.
Check out the available BCH trading pairs on Bitget!
Futures market
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Bitcoin Cash Resources
Buy Bitcoin Cash in Tanzania with Bitget
Simple 3-step guide to buying BCH today in Tanzania
Create your free Bitget account
Select a funding method
Complete your Bitcoin Cash purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for Bitcoin Cash using a payment method of your choice:
Buy Bitcoin Cash with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your Bitcoin Cash order.
How to buy crypto with credit/debit cardBuy Bitcoin Cash with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into Bitcoin Cash is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your Bitcoin Cash order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your Bitcoin Cash order.Buy Bitcoin Cash with the fiat balance in your Bitget account
You can Deposit fiat funds using Advcash, SEPA, Faster Payments, or PIX payment gateways to top up your Bitget fiat balance. Then, click Buy Crypto > [Cash conversion] in the top navigation bar to place your Bitcoin Cash order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor Bitcoin Cash in your Bitget spot wallet
Bitget—where the world trades Bitcoin Cash
How to buy Bitcoin Cash for free
- Learn how to earn Bitcoin Cash for free through the Learn2Earn promotion
- Earn free Bitcoin Cash by inviting friends to join Bitget's Assist2Earn promotion
- Receive free Bitcoin Cash airdrops by joining On-going challenges and promotions
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Buy Bitcoin Cash in a different country
The East African nation of Tanzania is well-known for its vast wilderness areas. The "big five" animals (elephant, lion, leopard, buffalo, and rhino) can be found roaming the plains of Serengeti National Park, a safari hotspot, and Kilimanjaro National Park, which is home to Africa's tallest mountain. Tanganyika became an independent nation on December 9, 1961, and was renamed Tanzania in 1962.
The population of Tanzania is 63,578,214, and the official currency is the Tanzanian shilling (TZS). It will only take a few minutes to buy Bitcoin Cash(BCH) and other cryptocurrencies on the Bitget platform using P2P trading, crypto deposit, and third-party merchants like Apple pay and Google pay. The official languages of Tanzania are Swahili and English, and the Bitget app and website are available in English. Wherever you are in Dar es Salaam, Mwanza, Dodoma, or Arusha, Bitget is ready to serve any needs in cryptocurrency, be it P2P, spot, or futures trading.
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