Thursday, June 23, 2022

Should I Buy Bitcoin Or Bitcoin Cash

Is Bitcoin Still A Good Investment 2021

HOW TO BUY BITCOIN 2019 – Easy Ways to Invest In Cryptocurrency For Beginners!

The authoritative popularity of Bitcoin against the background of other cryptocurrencies is obvious to any user of the crypto market. Its status as the worlds first virtual asset that can compete on a par with the main fiat currencies, and the steadily growing demand for exchange operations involving BTC coins in the hope of a further increase in the rate, indicates that this currency is considered to be the most promising in the context of financial profitability.

What To Do Now: Should Your Buy Bitcoin Or Bitcoin Cash

This should be a question anymore, and you should go to stack some Satoshi in your portfolio.

I have already, give you the linked list of places from where you can do so but from wherever you buy your Bitcoin, dont do this:

Never keep your BTC for the long term on websites where you purchased them!!

If you do this, there are high chances you will one day lose them all. Bitcoin exchange hacks have been happening from the early days of Bitcoin, and it will keep happening.

Thats it is always good to rely on crypto hardware wallets if you want to store your bitcoins for the long term. Dont know yet about them, check it out here.

Alright then. Thats it from us today and see you tomorrow again

Contents

A Maverick In The Wild West Crypto Market

Over the summer of 2020, MicroStrategy unveiled its strategy to enhance shareholder value. First was the repurchase of $250 million of company stock — at the time, about 20% of MicroStrategy’s total market cap. The second half of its plan was to use another $250 million to purchase Bitcoin. The rationale? According to co-founder and CEO Michael Saylor at the time:

This investment reflects our belief that Bitcoin, as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash. Since its inception over a decade ago, Bitcoin has emerged as a significant addition to the global financial system, with characteristics that are useful to both individuals and institutions. MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy.;

The bet got bigger from there, though. MicroStrategy started raising more cash by selling debt and using it to purchase more bitcoin. It concluded 2020 with $1.125 billion in total bitcoin purchases. And given the fact Bitcoin is up some 270% since last summer, the speculative play has paid off thus far.

Also Check: What Crypto Should I Buy Now

Bitcoin Cash Vs Bitcoin: The War Of The Prices

As mentioned earlier, cryptocurrencies like Bitcoin or Bitcoin Cash derive their value from how much they are adopted, used and demanded. We can analyze them in terms of ROI and value growth.

They are both holders of value, and while Bitcoin has been the holder of the most value up until now, Bitcoin Cash is gaining users and value fast.

Bitcoin Cash is much younger than Bitcoin. So, it is still in the stage of capturing and realizing its own place in the crypto market. Many people speculate that Bitcoin Cash might take a good portion of Bitcoins market share, making it the new dominant crypto in the industry. This is because Bitcoin Cash has addressed the scaling issues that Bitcoin faces, allowing more people to use it with ease and lower fees.

If the Bitcoin developer community doesnt find a way to agree to a mutual update to the Bitcoin code to fix its problems, Bitcoin might lose in the war between BTC VS BCH. This means that more people will likely switch to using BCH as their main store of value and transactional currency.

In the recent past, Bitcoin Cash has been worth as low as 5% of Bitcoin, to as high as 33%. It is currently staying within the range of 10-15% of the price of Bitcoin. Below are charts of the BCH VS BTC prices over the past nine months.

UPDATE 2021: Bitcoin cash is currently worth $226.83 and Bitcoin is worth $10,258.22 USD, meaning that 1 Bitcoin equals 44.90 Bitcoin Cash.;

BCH is no fake Bitcoin, but it may very well be a better one.

Bitcoin Vs Bitcoin Cash: An Overview

How To Get Bitcoin Uk

Since its inception, there have been questions surrounding bitcoins ability to scale effectively. Transactions involving the digital currency bitcoin are processed, verified, and stored within a digital ledger known as a blockchain. Blockchain is a revolutionary ledger-recording technology. It makes ledgers far more difficult to manipulate because the reality of what has transpired is verified by majority rule, not by an individual actor. Additionally, this network is decentralized; it exists on computers all over the world.

The problem with blockchain technology in the Bitcoin network is that its slow, especially in comparison to banks that deal with . Popular credit card company Visa, Inc. , for instance, processes close to 150 million transactions per day, averaging roughly 1,700 transactions per second. The company’s capability actually far surpasses that, at 65,000 transaction messages per second.

How many transactions can the bitcoin network process per second? Seven. Transactions can take several minutes or more to process. As the network of bitcoin users has grown, waiting times have become longer because there are more transactions to process without a change in the underlying technology that processes them.

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Is It Safe To Buy Bitcoin

I wont lie, plenty of scams and hackers still exist in the cryptocurrency space. Buying Bitcoin and keeping it secure requires a little bit of effort.

If you own gold, you can stuff it in a safe and, if you forget the key, you can hire someone to break into it. But with BTC, if you lose your private key, you lose the BTC forever. Steps need to be taken to prevent loss.

The basics can be summed up in four points:

  • ;; ;Buy only from reputable exchanges with a good reputation .
  • ;; ;Enable 2-Factor authentication and use strong passwords.
  • ;; ;Avoid keeping your crypto assets on an exchange.
  • ;; ;If you keep your BTC offline — get and use one of the best hardware wallets available.
  • Should I Invest In Bitcoin Cash Or Ethereum

    A table below summarises some of the important differences between Bitcoin Cash and;Ethereum.

    ;
    $5,493,239,265$43,767,557,045

    As you can see, Bitcoin Cash and Ethereum are very different assets, each with its own advantages. Bitcoin Cash has cheaper transactions, and its supply is limited. Ethereum, on the other hand, is more than just a cryptocurrency. Its adoption is more widespread, and it’s been around for longer. Ultimately, it’s up to you to decide which to invest in, but you can always invest in both to diversify your portfolio.

    Read Also: What Can Bitcoin Be Used For

    Bitcoin Cash Vs Bitcoin : Which Bitcoin To Buy

    Earlier this week I was in a local crypto meet-up where someone hit me up and asked this:

    • Which Bitcoin should he buy?

    It took a moment to figure out what this person was asking and eventually realized that the person asking:

    • Should he buy Bitcoin or Bitcoin Cash?

    Of course, without any hesitation, I said go for Bitcoin and I came home.

    This small conversation made me think deeply, and I could understand how confused the majority of people in cryptosphere might be because you have 10+ versions of Bitcoin.

    Moreover, lack of due diligence and misleading mass media campaigns around BTC and BCH make the matter worse.

    Thats why today I got inspired to write on this topic of Bitcoin Cash vs. Bitcoin so that investors can discern the differences between BTC and BCH.

    Wait a minute, if you are Bitcoin Cash fan dont just start throwing stones and stakes at me.

    If you are a curious person, who is sincerely looking for an answer to, Should You invest in Bitcoin or Bitcoin Cash?

    Short answer:

    • Listen to me out and read through.

    Us Fed Printing Money

    Should I buy bitcoin now? What is bitcoin? What even is money?

    The biggest indicator that you should not sell your bitcoin, or other assets, has to do with the fact that the US Federal Reserve has printed an unprecedented amount of money in response to the COVID-19 pandemic.;

    Most in cryptocurrency are familiar that fiat currency inflates, so we will not cover that aspect. However, most are likely unaware just how much money the Fed printed in 2020.;

    The Fed printed 20% of the total US money supply in 2020. Most central banks of western countries had a similar response to the pandemic, so you are not safe if you are on the Euro or Pound.

    Thats right, 20% of all the money printed from the 1970s to 2020 was printed in 2020.;

    The obvious conclusion from the above statement is that inflation will hit the US Dollar extremely hard in the next few years as the velocity of money picks up. This means two things:

    • You want minimal USD/fiat holdings because the real value of those holdings will decrease due to inflation.;
    • You want to hold assets that rise equally inflation of the USD.;

    In our opinion, the Fed printing infinite money is the number one reason you should avoid selling bitcoin. Basically, why would you sell a deflationary asset for an inflationary currency like USD?

    It simply does not make sense.;

    Recommended Reading: How To Buy Crypto With Amex

    Pulling Out Of Bitcoin Is Bad

    First things first, selling bitcoin is more likely than not a bad decision. This is based purely on historical evidence with the prior price of bitcoin.;

    Basically, the price of bitcoin has always gone up since its inception. Yes, there have been some bear markets in between price increases, but the overall trend has been upwards for the entire history of the project.;

    We will put it this way, if you sold at the top of the 2011 bull market, then you would likely be kicking yourself because that bull market peaked at $30/BTC.;

    Of course, prior performance is no indicator of future success. But there is not much indication that the price of bitcoin will stay down for a significant period of time. In fact, the data suggest the opposite.;

    Should I Buy Cryptocurrencies Apart From Bitcoin

    Good investors diversify.

    Your 401k, IRA, and other retirement portfolios are all diversified. After all, you dont just keep all your money in Apple stock. You diversify with excellent alternatives such as Facebook, Nike, and more. Its just plain common sense.

    The crypto space is very diverse. There are crypto assets like IOTA that focus on IOT technology. Ethereum and Tron focus on smart contracts. Nexo focuses on cryptocurrency lending.

    There are thousands of cryptocurrencies with innovative ideas like those I mentioned. A great place to find investment ideas is to look at Coinmarketcap.

    Recommended Reading: How To Spend My Bitcoin

    Should I Invest In Bitcoin Cash Or Litecoin

    According to Jesus CedeƱo of CryptoCoinSociety, Bitcoin Cash outranks Litecoin in several areas. Perhaps the most important areas were transaction cost and speed, in which BCH outperformed LTC.

    Jesus also noted that Litecoin, like Bitcoin, has a maximum blocksize of 1 MB, while Bitcoin Cash has a maximum blocksize of 32 MB. And this has enabled BCH to be cheaper and faster.

    But there are areas where Litecoin may be a better option. Litecoin was also born of Bitcoin and attempted to improve upon it in several ways.

    One of the ways they planned to do this was to increase the max supply to 84 million, which is four times larger than BCH.

    But perhaps more crucially, Litecoin uses a Scrypt hashing algorithm which is said to be better than BTCs and BCHs SHA-256 algorithm. So, it is hard to find a clear-cut winner.

    Bitcoin Cash and Litecoin are both highly reputable transactional cryptocurrencies, however, at times, the two have both struggled to remain relevant in an industry where smart contracts, dApps and DeFi are increasingly more decisive on the price of a coin.

    Start Trading Or Buying Bitcoin Cash

    How To Buy Bitcoin With Cash Reddit

    Once you have gone through all the above steps, it is time to buy your BCH tokens. If you are going for a short-term investment strategy, your broker will offer you a variety of financial instruments such as CFDs of Bitcoin Cash. On the other hand, if you have gone with the long-term investment plan, you can directly buy and own BCH tokens from your preferred cryptocurrency exchange.

    It is interesting to note that some platforms such as eToro have established themselves as a cryptocurrency broker as well as an exchange. It means that whether you have a short or long term investment plan, you can trade on a single platform. Just make sure that you are not using advanced features like leveraged trading that allows you to put more money on the line than you have deposited.;

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    Bitcoin Cash Vs Ethereum

    As you can see, we have discussed plenty of things that you need to know about Bitcoin Cash vs Ethereum. While these two are among the largest digital currencies, they differ greatly and are unique in their own special way.

    However, both are cryptocurrencies that depend on the development of the crypto market. Remember, the price value of both coins will probably increase if the demand and adoption rate for digital payments increases.

    Note: It is always recommended to do your own research before investing money. You should never listen blindly;to anyone! We hope that this comparison guide of Ethereum and Bitcoin Cash was of help to you.

    Which Should You Buy?

    The future of Bitcoin Cash vs Ethereum looks very bright as their ultimate goal is to overtake the king of cryptocurrencies, Bitcoin. So there is no need for us to comment on which one you should buy especially after considering the fundamental and technical aspects of both coins. So, it wouldnt be unwise if you choose to buy one or both to diversify your cryptocurrency portfolio.

    But the question remains, which of them do you prefer, and what for? Whats your personal opinion on Bitcoin Cash vs Ethereum? Let us know in the comment section!;Below you will find the;best exchange;for buying both Bitcoin Cash and Ethereum

    Buy Bitcoin Cash / Ethereum Now!

    • Most Popular Exchange Secure, Instant and Easy
    • Best Crypto Exchange in the USA
    • 24/7 Exchange with Lowest Fees
    • Open an Account in 3 Minutes

    Why Is Bitcoins Price Down

    It all started with the statement of Elon Musk on May 13 that Tesla will not accept Bitcoin as a full-fledged asset class. At the same time, it was said that the company will not sell Bitcoin and use them for operations until the cryptocurrency mining will not go with the help of sustainable energy sources. This statement simultaneously brought down the price of Bitcoin by 10% and, in fact, gave an impetus to investors to fix their participation in this asset a sale began, sometimes chaotic.

    Elon Musk May 12, 2021

    But the strongest blow to the quotes was inflicted by the Chinese authorities on May 18, when they announced the introduction of restrictions on cryptocurrency trading. Chinese financial institutions and companies were banned from providing services related to the exchange of cryptocurrency, and investors were warned about the danger of speculative trading. The next day, the BTC exchange rate fell by 30% the largest one-day drop since March 2020.;

    Recommended Reading: Why Bitcoin Is Going Down

    Youre Our First Priorityevery Time

    NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. They are not intended to provide investment advice. NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Our estimates are based on past market performance, and past performance is not a guarantee of future performance.

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    Beware The Tax Implications

    WHY YOU SHOULD BUY BITCOIN | HOW TO MAKE MONEY WITH BITCOIN

    Services like Coinbase and Robinhood are making crypto transactions more seamless than ever, and that ease of use might make you forget that every time you sell a cryptocurrency, its a taxable event just as if youre selling a stock. If youve started your 2020 1040, youll notice that the IRS added a highly visible question: At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? The feds are cracking down on crypto holders, so take note. If youre a frequent buyer and seller, dedicated tax services like taxbit.com or zenledger.io can help organize your transactions to make them more easily verifiable.

    Recommended Reading: How To Store Crypto In Cold Storage

    Getting Started With Bitcoin Cash Investing

    To start investing in Bitcoin Cash BCH, you first need to with an exchange that will allow you to buy and invest in Bitcoin Cash.

    An exchange broker is an online platform that enables you to buy and sell Bitcoin Cash as well as many other cryptocurrencies that they have listed on their platform.

    If you want to buy and invest in Bitcoin Cash BCH quickly and easily with your credit card check out eToro Exchange!

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