Don't confused Bitcoin Cash as the same thing as Bitcoin as it's the "fork" of the latter. To simplify it, Bitcoin Cash is the offshoot of the Bitcoin cryptocurrency. Both of these cryptoassets are available for trading via the eToro online investment platform.
But wait, what is a fork? In Software Engineering terms, a "fork" or a 'project fork' is a new software developed using the source code from a particular software. In Bitcoin Cash' case, it was developed using the source code of Bitcoin.
If you're planning on investing or trading BCH (Bitcoin Cash) then it would be simpler to click the button below. This will take you to the eToro BCH trading page where you can easily check the current price of BCH and also buy BCH of any value you plan to invest.
Before trading BCH on eToro, just simply open an account with them. Don't worry, the whole process will only take a few minutes.
67% 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.
Bitcoin Cash came about in 2017 after a group of Bitcoin activists, developers and investors voiced unhappiness at Bitcoin's plan to increase capacity. These group lobbied for the increase in Bitcoin's block size to 8 megabytes via a 'hard fork'.
This opposition among other issues paved the way for the creation of Bitcoin Cash. While no specific person or organization is credited with developing Bitcoin Cash, it is seen as a collaborative effort among earlier stakeholders namely Bitcoin miners and developers. Some refers to them as the Bitcoin Unlimited.
Bitcoin Cash (BCH) was the result of the disagreements that arose among the Bitcoin community stemming from the different ideas on how the Bitcoin should be managed and run to deal with increasing demand.
Bitcoin Cash debuted in 2017 with an 8MB block size and has since upgraded its block size to 32MB blocks.
As already mentioned in this article, Bitcoin Cash is capped at 21 million coins (same number as Bitcoin). This guarantees Bitcoin Cash to become inflation-resistant as opposed to physical currencies of countries all over the world where print money is printed endlessly thus pulling its value down over time.
As of early this year, Bitcoin Cash traded at around $580 with a 53-week average of $205.66-$1,635.15.
When you opened this page, the price of a single unit of BCH is
Just like Bitcoin, Bitcoin Cash falls into the extreme volatility category. If you plan to hold into a crypto for a long time and can endure the roller-coaster volatility of Bitcoin Cash and is trusting of the ever-developing and improving blockchain technology of Bitcoin Cash, then you can make a good argument to invest on Bitcoin Cash. Similar to Bitcoin, it presents a huge potential for a high reward against its high risk and crazy price swings.
Bitcoin Cash may be the result of a 'fork' of the Bitcoin code, but it is not a 'copycat' of Bitcoin. This wrong notion added to the confusion of many investors with regards to Bitcoin and Bitcoin Cash before. BCH or Bitcoin Cash should be seen as its own digital currency and only time will tell if it can be an even better crypto than Bitcoin.
You can store your Bitcoin Cash on popular wallets available today. These include the Ledger Nano X and the Ledger Nano S. These are hardware wallets where you can keep your Bitcoins Cash even in offline devices.
Or you can keep your Bitcoin Cash on trading platforms such as eToro.
In order to use eToro's BCH wallet service, you will need to transfer a BCH position via the eToro trading platform under your name to the crypto wallet under the same account. The good news is that you won't incur any fees opening a BCH wallet and transferring it to eToro wallet.
You don't even need to move a muscle or to a different site for that matter. Clicking on the button below will take you to eToro's BCH trading page and if you want to try it out, you can quickly open an account.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.