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If you are asking yourself the above question then you have come to the right place. Both Bitcoin Cash and Ethereum have been stellar performers but this article will help you differentiate between the two and recognise which is more suited to your cryptocurrency portfolio. Firstly, letu2019s look at Bitcoin Cash and how to buy Bitcoin Cash in Canada.
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If you are asking yourself the above question then you have come to the right place. Both Bitcoin Cash and Ethereum have been stellar performers but this article will help you differentiate between the two and recognise which is more suited to your cryptocurrency portfolio. Firstly, let’s look at Bitcoin Cash and how to buy Bitcoin Cash in Canada.
What is Bitcoin Cash?Bitcoin Cash can best be described as a “Peer to Peer” cash system which was developed to be used as a simpler and faster mode of payment than the traditional method of payments. Bitcoin Cash charges a very minimal transaction fee which makes it an attractive option to send or receive payments across the world.
Why use Bitcoin Cash as a mode of Payment? There are quite a few cryptocurrencies whose sole purpose is to make the process of payments simpler and faster for its user. How is Bitcoin Cash any different from them? Let’s have a look at some of the points that make Bitcoin Cash stand out from the others:
1. Fixed Supply: Bitcoin Cash has a fixed supply of only 21 million coins available to trade. Governments constantly tend to print up money from thin air which tends to inflate the supply and devalue one’s savings. Bitcoin Cash has a fixed supply and thus represents sound money.
2. Be your bank: With Bitcoin Cash, you can transfer money to anyone at any time of the day without a mediator such as a bank or any financial institution. You have complete independence to do whatever you wish with your funds.
3. Anonymity: Unlike transactions made with credit cards or bank transfers, Bitcoin Cash transactions offer complete anonymity since it is almost impossible to know who controls a Bitcoin address. Now that we know a few pointers on Bitcoin Cash, let’s look at Ethereum.
Ethereum: Ethereum unlike Bitcoin Cash is not only a payments system. Developers can use the block chain system to develop real-world applications on top of it. Ethereum is also famous for a feature called Smart Contracts, smart contracts are mainly clauses or agreements that can be set between two parties without the need of a middleman. Ethereum is also the second-highest cryptocurrency by market cap after Bitcoin.
Conclusion: Both of the cryptocurrencies mentioned above serve different purposes. Bitcoin Cash is more of a payments service whereas payments are only one of the purposes of Ethereum. Since Ethereum is more diversified into fields other than payments and since it has a much higher market capitalisation than that of Bitcoin Cash, that makes Ethereum a must-have in one’s portfolio.
If you are now wondering which is the best place to buy Ethereum in Canada and where to get started then all you need to do is log on to the Netcoins website and follow these instructions. First, you need to provide your personal information to open an account. Then, you need to get your details verified. After this is done, you can transfer money into the wallet and begin trading. SOURCE CREDIT: https://netcoins.tumblr.com/post/656573269965733888/should-i-buy-bitcoin-cash-or-ethereum
