Cryptocurrencies are all the rage in the financial world today, and Bitcoin (BTC) stands out as one of the most popular and widely used digital currencies worldwide. The crypto market has evolved rapidly, giving birth to various forks and alternative coins, including Bitcoin Cash (BCH). In this article, we’ll dive into the main differences between BTC and BCH, based on factual information and some numbers.
All about BTC (Bitcoin)
Bitcoin (BTC) is the first and most renowned cryptocurrency, created by Satoshi Nakamoto back in 2009. It’s built on blockchain technology, with the main goal of providing a decentralized and secure way to conduct financial transactions. According to CoinMarketCap data, Bitcoin’s market cap is over $567 billion as of now, making it the top-rated cryptocurrency by market capitalization.
All about BCH (Bitcoin Cash)
Bitcoin Cash (BCH) emerged as a fork of Bitcoin in August 2017. It was created to increase the block size and improve network scalability, aiming to reduce transaction fees. As per CoinMarketCap, Bitcoin Cash has a market cap exceeding $4,4 billion.
Comparative Analysis: Speed and Transaction Costs in Numbers
Transaction Processing Speed:
- Bitcoin (BTC) processes around 7 transactions per second with confirmation times ranging from 10 minutes to several hours, depending on network congestion.
- Bitcoin Cash (BCH) boasts a higher throughput, processing over 100 TPS due to its larger block size of 32 MB, resulting in faster transaction confirmations, typically around a minute.
Transaction Costs in Numbers:
- Bitcoin (BTC) charges an average transaction fee of about $1.50 to $6, depending on network load and selected priority level.
- Bitcoin Cash (BCH) offers significantly lower transaction fees, ranging from a few cents to a dollar, making it attractive for micro-payments and everyday transactions.
Coins Available for Payment Acceptance via 0xprocessing
Both BTC and BCH can be accepted as payments through the 0xprocessing payment processing service. This integration enables businesses to securely and conveniently accept cryptocurrencies as payment for their goods and services, minimizing risks and reducing fees.
In conclusion, Bitcoin (BTC) and Bitcoin Cash (BCH) each have their unique features and advantages. BTC remains the top dog with the highest market cap and is often considered the “digital gold.” On the other hand, BCH focuses on everyday payments with low fees and speedy confirmations. The choice between these cryptocurrencies depends on the needs and goals of individual users and businesses. However, integrating with a payment processing service like 0xprocessing makes accepting payments in both cryptocurrencies a breeze, ensuring convenience and security.
Remember, the cryptocurrency market is ever-changing, and the data provided in this article may evolve over time.