Bitcoin Cash was intended to address these issues by increasing the size of blocks – that is, units of ledger data – from 1 MB to 8 MB. This has negated some of the rationales for using virtual currency in the first place: low fees and the elimination of delays. In some cases, moving bitcoins around cost in excess of $50. Miners fees, which must be paid to ensure the speedy transfer of money, have sometimes been sky-high. It's now also possible to purchase BCH from a number of exchanges.īitcoin Cash was created to address significant problems with Bitcoin. If you held any Bitcoin at the time of the fork, then you should have also received Bitcoin Cash in an equivalent number to the amount of BTC you owned on Aug. Bitcoin Cash was forked off of the existing Bitcoin blockchain at the beginning of August 2017, and it’s a completely separate coin notwithstanding that it shares part of its name with its ancestor. Many online poker sites allow transactions using the original Bitcoin (BTC) crypto-currency, but there are also a few that work with Bitcoin Cash (BCH) as well.
