Advantages of Bitcoin Cash Over Traditional Bitcoin

Advantages of Bitcoin Cash Over Traditional Bitcoin

Bitcoin Cash is an upgraded version of BTC, paving the way for reliable high capacity low fee transactions. There is no way that a logical person/business prefers to pay higher fees for a slow unreliable service when there is a cheaper better faster alternative Bitcoin Cash. Try sending $10 worth of Bitcoin and $10 worth of Bitcoin Cash to yourself and see for yourself the difference. But Bitcoin Cash is more than just fast cheap and reliable, it also has many unique advantages over the old Bitcoin. Here are the improvements from Bitcoin Cash.

Better Security – BTC has a vulnerability called RBF which increases the risk of double spending. Bitcoin Cash developers aim to make 0-confirmation transactions safe again so that anyone accepting Bitcoin Cash is much safer accepting payments without having to wait for multiple confirmations. This RBF security vulnerability exists only in BTC and not Bitcoin Cash. That’s why Bitcoin Cash is more secure as a payment method.

Improved Scalability – BTC is limited to 1MB block size and even with Segwit activated, the capacity increase is only around 1.7x whereas the upgraded Bitcoin Cash blocks capacity is currently at 32x with no limitations. This means Bitcoin Cash can handle PayPal transactions volume today and be global money after a few more upgrades.

Improved Confirmation Times – Due to the limited block size of BTC, some users were made to wait days for their transactions to be confirmed. Contrast this to Bitcoin Cash where transactions may be accepted immediately with less risk and you can see why it makes sense to use Bitcoin Cash. In other words, if you are a shop owner and you just sold a cup of coffee and some sandwiches, and you accept the old BTC, you may have to wait hours for the transaction to be confirmed because the customer may use RBF to void the original payment. With Bitcoin Cash, your risk is minimized.

Low Fees – One of the advantages of using cryptocurrencies over traditional payment methods is the low fees. Due to the limited block size of BTC, fees have exceeded over $70/transaction during peak period. On the other hand, I have never paid more than 1 penny/transaction during my entire time in using Bitcoin Cash. This makes using Bitcoin Cash ideal for merchants, businesses, companies and everyday usage. The industries that may be disrupted such as Remittances, Payment Gateways, etc are worth trillions of dollars and Bitcoin Cash is well positioned for use cases in these industries.

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