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| Symbol | BCHUSD |
| Name | Bitcoin Cash vs US Dollar |
| Quote Currency | USD |
| Trading Hours | 24/7 |
| Spread As Low as (Quote currency) | 1.12 |
| Commission | No |
| Contract Size (Per Lot) | 1 BCH |
| Minimum Contract Size (Lot) | 0.01 |
| Minimum Step Size (Lot) | 0.01 |
| Leverage Up To | 1:200 |
| Limit and Stop Level | 0 |
| Execution | Market |
| Trading Platform | MT5, Mobile App, WebTrader |
| Sector | Crypto |
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Born from the need to address scalability concerns within the original Bitcoin network, Bitcoin Cash (BCH) has since carved out its own path in the expansive realm of cryptocurrencies. Acting as both a continuation and an upgrade of the Bitcoin project, BCH promises faster, more efficient transactions. In this post, we’ll delve into the origins and features of Bitcoin Cash and examine its relevance within the domain of CFD trading.
In 2017, as Bitcoin’s popularity surged, its limitations began to surface. Transactions were slower, and fees were rising.
A segment of the Bitcoin community believed that increasing the block size would mitigate these issues, while others disagreed. This divergence in vision led to a “hard fork” in August 2017, giving birth to Bitcoin Cash with an increased block size of 8 MB, compared to Bitcoin’s 1 MB.
Larger Block Size
The primary distinction of BCH is its larger block size, which allows for more transactions per block, aiming to make transactions faster and fees lower.
Adjustable Level of Difficulty
To ensure regular block discovery and a stable supply of coins, BCH adjusts its level of mining difficulty depending on the total computational power in the network.
Decentralization and Security
Much like Bitcoin, BCH operates on a decentralized peer-to-peer network. Its proof-of-work mechanism, similar to Bitcoin's, ensures network security and transaction verifiability.
Development Teams
Unlike Bitcoin, which has one predominant development team, Bitcoin Cash has multiple independent teams working on its protocol, fostering a diverse development culture.
Given its lineage and the promise of enhanced transaction capabilities, Bitcoin Cash has garnered significant attention in the CFD (Contract for Difference) trading world. Here’s why:
Volatility: BCH, like many of its crypto counterparts, experiences notable price fluctuations, providing CFD traders with potential trading opportunities based on price movements.
Market Recognition: As a direct offshoot of Bitcoin, BCH enjoys considerable recognition in the crypto space, influencing its trading volume and liquidity.
Continued Development: Regular updates and enhancements to the BCH network can lead to market reactions, offering predictive insights for CFD traders.
Bitcoin Cash emerged from one of the most notable events in cryptocurrency history, embodying a vision of faster, more scalable peer-to-peer transactions. For those engaged in CFD trading, BCH represents a blend of historical significance and forward-looking development, anchored in its roots but looking towards the horizon.
Start trading BCH/USD crypto CFD now!
No, you don’t own the actual cryptocurrency. Instead, you’re speculating on its price difference.
To begin, select a reliable broker that offers BCH/USD CFDs, such as Baxia Markets. Open an account, deposit funds and then you may start trading based on your analysis.
CFDs offer the advantage of leveraged trading, allowing traders to take larger positions with a smaller initial capital. Additionally, CFDs can provide opportunities for profits in both rising and falling markets.
Bitcoin Cash (BCH) originated from a fork of Bitcoin in 2017 and was created to address scalability issues by increasing the block size, allowing more transactions per block.
Yes. With CFDs, traders can go long (expecting a price rise) or short (expecting a price drop).
The BCH price can be affected by factors like adoption rate, technological developments, regulatory news, and overall cryptocurrency market sentiment.
No. When trading CFDs, you’re speculating on price movements without actually owning the asset, so no digital wallet is needed.
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Risk Warning: Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Baxia Markets, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing the entirety of your initial investment). You must assess and consider them carefully before making any decision about using our products or services.
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