How to gamble with Bitcoin Cash
Gambling with cryptocurrency has become more and more popular as time goes on and it is about time we talked about Bitcoin Cash. By now, we would bet you have heard about bitcoin, I mean, who can forget about the BitConnect guy screaming his lungs out on stage? But since 2017, Bitcoin was split in two and that is where Bitcoin Cash comes in.
What exactly is Bitcoin Cash?
BCH or Bitcoin Cash was created to solve a growing problem that Bitcoin (BTC) was having. Bitcoin was all the hype a few years ago and with the massive influx of people buying it, the 1MB blocks that BTC was using just couldn’t cut it anymore. They would get full, creating unreliable transactions and skyrocketing the fees which almost completely ruins the whole purpose of crypto in the first place.
Despite all the issues and the many who complained, there was a large number of people who didn’t want Bitcoin to change. So, in August 2017, the developers of Bitcoin-ABC split BTC apart and created Bitcoin Cash. This split the blockchain network in two and increased the block size to 8MB and later to 32MB.
Why use Bitcoin Cash to gamble?
Thanks to the increased block sizes, Bitcoin Cash gives many benefits on top of the regular cryptocurrency pros like anonymity, security, fast payments and withdrawals and more.
One of the biggest benefits to BCH is the very low fees. When comparing it to BTC, it very very low. While the transaction costs vary a lot, BCH can cost around R0.43 while BTC can get as high as R285.47 and even higher. Additionally, Bitcoin Cash has no voids, refunds, chargebacks, or fraudulent charges.
Thanks to the increased block size, there are also incredible transaction turnaround times. Being much faster than regular Bitcoin, BCH can handle 116 transactions every second, so you won’t have to wait as long.
How to get BCH of your own.
The process of getting BCH is the same as every other kind of crypto. The first thing you will need to take care of is going to an exchange. There you can buy and trade crypto through another business.
Once you have Bitcoin Cash, you will now want to move it over to a secure wallet. We recommend that you use an external one that you can control, but the decision is up to you.
Note that this whole process is not as easy as it sounds. Every step of the way can be very challenging, especially if this is your first time buying crypto and the support is scarce.
Cryptocurrency doesn’t remove the dangers of gambling.
Bitcoin Cash and every other cryptocurrency have many benefits that can make gambling a smoother process. But these benefits don’t remove the dangers. Gambling is addictive and the negative effect it can have on your life can be severe.
If you are going to gamble, it’s best to do it like a pro and practise proper gambling strategies and if you ever have or notice someone having an issue with gambling, reach out for help – Gambler Anonymous.