Despite sharing the world-famous moniker, Bitcoin and Bitcoin Cash are fundamentally different.
Investors who are looking to put some money on cryptocurrency will need to distinguish Bitcoin from Bitcoin Cash, and vice versa. Also, they will need the help of a trusted crypto trading website like Bitcoin Prime to make a profit.
Bitcoin is the king when it comes to cryptocurrency value. It’s the first of its kind and has been around for more than 10 years now. Its price has seen unprecedented growth and turned early adopters into millionaires.
Bitcoin Cash value is much more humble than Bitcoin. It’s also been recently created (in 2017), and has its ups and downs in the trading market. However, it’s an attractive prospect to those who want to get more mileage for their money.
Bitcoin’s adoption rate is sky high, and most of the people who’ve heard of cryptocurrency will know what Bitcoin is.
Bitcoin single-handedly launched the decentralized world of cryptocurrency to what it is today. Adoption is mainly for those who want to make money and invest in a promising digital asset.
You’ll find that Bitcoin is a staple in most crypto exchange platforms. However, Bitcoin Cash isn’t. The numbers for daily transactions alone favor Bitcoin, although Bitcoin Cash is still the favored coin when it comes to transaction speed.
Bitcoin Cash was created to have smaller, more manageable blocks than Bitcoin.
Bigger isn’t always better, especially in the world of cryptocurrency. Bigger blocks means more computing power is required to ‘solve’ complex math algorithms. The number of transactions is also limited.
Bitcoin Cash has a smaller block size, and this equals unparalleled agility when it comes to processing speed. The hardware required to solve its mathematical equations are significantly lower compared to Bitcoin’s.
Hash rate is defined as the processing power of a cryptocurrency network. For Bitcoin, intensive mathematical processes are needed to maintain a good layer of security, something that’s very important in the crypto industry.
Bitcoin stands tall as one of the best in hash rate potential. You can get a higher security aspect in Bitcoin than with Bitcoin Cash. It’s many times greater and thus requires a more powerful hardware to mine.
Fees and Transaction Speed
Over the years Bitcoin’s transaction fee and speed have become higher and slower, respectively. This can be attributed to an explosive adoption rate, value and transactions made per day.
Bitcoin Cash is a lesser known cryptocurrency. It also has a smaller block size, which means it’s more agile. Because fewer people use it the transaction fees are lower compared to Bitcoin.
Bitcoin Cash works like a payment method more than a digital asset, mainly because it’s more consumer-friendly. The developers wanted it to be a true alternative to traditional online payment systems and succeeded in some degree.
Bitcoin and Bitcoin Cash are different in many aspects. It’s worthy to note that Bitcoin Cash was built on the existing framework of Bitcoin (thus the name) and was created many years after Bitcoin’s inception.