Accept Payments in Bitcoin Cash

Bitcoin Cash (BCH)

Dynamic Prices

What is Bitcoin Cash (BCH)?

Bitcoin Cash came into existence on August 1st, 2017 after a hard fork on the Bitcoin protocol. The hard fork split Bitcoin’s network into two leading to the establishment of Bitcoin Cash. The split was caused by in fights which were caused by differences on the developments which were supposed to be done on Bitcoin. Tired of the arguments some group members decided to develop their own coin with different characteristics to Bitcoin but similar.

During the hard fork, all the wallets which contained Bitcoin during the split received equal amounts of Bitcoin cash. With the developers knowing all the problems associated with Bitcoin the new digital currency had better security features making it better.

According to Bitcoin Cash developers the main aim of creating it was to solve the many problems associated with Bitcoin which included transaction fees. Since the coin was created it has remained to be among the top 10 digital currency but is yet to threaten Bitcoin.

BCH is currently trading at $564.45 and has a market cap of $9,766,350,120.

Bitcoin cash came out as an upgrade of Bitcoin increasing the block size from 1MB-8MB. The creation of Bitcoin Cash also removed SegWit which is seen to cause Bitcoin’s scaling problem. Bitcoin Cash is also relatively easier to mine that Bitcoin. Just like Bitcoin, Bitcoin cash depends on miners for existence.

Bitcoin Cash Trading

Bitcoin has gained a massive reputation since it was created. This coin can be purchased in all the large exchanges including Coinbase, Bitfinex, GDAX, Poloneix , Bitstamp among others. In the initial stages of the coin trading, there was confusion on which symbol to use with some exchanges using BCH while other used BCC. This problem has however been solved and it’s now BCH. At the moment Bitcoin Cash is having the biggest market in the United States and South Korea while the most used fiat currency is the US dollar.

Bitcoin Cash is still upgrading and plans to increase the size of its blocks from 8MB to 32MB.

Pros

  • Faster transaction speeds as compared to Bitcoin
  • Low transaction fees
  • Its network is very reliable and runs effectively without congestion

Cons

  • Bitcoin Cash is not as decentralized as Bitcoin since it has a CEO something which people have criticized.
  • Not popular among exchanges

How to accept BitcoinCash payments on your website

ExagonPay is an online payment platform which makes it easy for a business to accept digital currencies as a mean of payment. ExagonPay customers can pay using the most popular digital currencies like Bitcoin cash. This platform has worked to avoid volatility which is feared most by businesses and converts the payments to either the Euro or USD depending on what the client prefers most.

To start accepting BitcoinCash, Bitcoin, Litecoin, Ethereum among the other digital currencies signup with ExagonPay. If you want to use the platform for e-commerce then it's important to Create API credentials. On the other hand, if you want to use the platform for donations or normal transactions then just create a payment button.

It's important also to know that ExagonPay users who want direct conversions to either the dollar or Euro are required to verify their identity. On the other hand, those who would like to keep their payments in digital currencies are not required to do any verification.

Get access to the ExagonPay platform.