Bitcoin Cash (BCH), is a form of digital money or cryptocurrency which can be transacted with anyone in the world for low fees and without the use of intermediaries such as banks, governments, PayPal, etc.
Bitcoin Cash is a hard fork of Bitcoin, which means it is essentially a copy of Bitcoin with subtle changes. The main difference between Bitcoin and Bitcoin Cash is that Bitcoin Cash is run by a different development community and has larger block sizes in the blockchain, which allows for cheaper and faster transactions. Therefore, technically speaking, Bitcoin Cash is currently a better form of payment than Bitcoin, which is why more and more merchants and online trading brokerages are accepting Bitcoin Cash for payments and deposits. However, the underlying technology and fundamentals of Bitcoin Cash and Bitcoin are the same.
Both cryptocurrencies are open sourced and decentralized, meaning no one including governments can shut it down or destroy it. Anyone in the world can buy, sell, or hold Bitcoin Cash and use it to transact with anyone or business who accepts it for a fraction of the price that third party intermediaries charge for these types of services. Therefore, Bitcoin Cash has a massive use case for payments and deposits for online businesses such as online trading brokerages.show more
Using Bitcoin Cash as a method of deposit has numerous benefits for both the online trading brokerage and the trader making the deposit. After all, there is a reason cryptocurrencies like Bitcoin Cash are the future of money. See below some of the benefits Bitcoin Cash deposits present.
Bitcoin Cash can send very large sums of money across the world in a matter of seconds or minutes, depending on the network congestion. This is much faster than wire transfers which is the traditional method used to send large sums of money. Wire transfers take days, while Bitcoin Cash deposits take seconds.
Large transactions with Bitcoin Cash can be completed with fees under a dollar. The large block size of the Bitcoin Cash blockchain make payments even cheaper than Bitcoin and much cheaper than traditional methods of payment.
Bitcoin Cash can be used for deposits anywhere in the world. No matter where you are Bitcoin Cash transactions will cost the same and the speed in which they are transacted are the same. Bitcoin Cash has no borders.
Depositing with Bitcoin Cash is so easy and convenient, it can be done within seconds. There is no need for the signing of papers and documentation.
Safe & Secure
Bitcoin Cash is built on an open sourced cryptographic protocol which makes hacking it next to impossible. Plus, a user’s information and financial data is not required to make a transaction so there is no threat of it being stolen.
Depositing funds with Bitcoin Cash is very quick and can be done in a few simple steps. However, you must take the time to understand how to safely acquire and store Bitcoin Cash before transacting with it.
First, you must go to the deposits page on your online brokerage account and select Bitcoin Cash as your method of deposit.
Once selected, you will be given the brokerages Bitcoin Cash address or QR code. This is where you will be sending your Bitcoin Cash too.
You can either copy the brokers Bitcoin Cash address, go to your wallet, and send a desired amount to this address. Alternatively, you can simply scan their QR code with your smart phone using your wallet QR code scanner. Then you simply type in how much Bitcoin Cash you would like to send, confirm and wait for the transaction to complete.
The whole process is very simple, fast, and secure.