BITCOIN CASH CASINO GUIDE of 2022

Bitcoin Cash seeks to be the crypto of choice for fast, cash-like transactions. Historical data shows that this is the most common way for the crypto to be used – small transactions.

It is important to note that many exchanges consider Bitcoin Cash less secure than other cryptos. This leads to a high number of confirmations being required before deposits are considered valid, resulting in longer waiting times. For example, Kraken currently requires 15 confirmations to consider your deposit valid, resulting in 2.5 hours of waiting time.

These security concerns are due to a higher risk of a double-spending attack being performed on the BCH blockchain.

HOW DOES IT PERFORM?

1. Decentralization: Working on the same principle as Bitcoin, Bitcoin Cash is a decentralized network consisting of many independent nodes that work together. Compared to Bitcoin, it’s more decentralized, as there are more independent smaller miners.
2. Safety: Bitcoin Cash is seen as insecure, and exchanges requiring many confirmations before your deposit is deemed legitimate. It’s a good idea for peer-to-peer exchanges to also get more confirmations before you can consider your transfer successful and safe.
3. Scalability: As Bitcoin Cash aimed to fix Bitcoin’s scalability problem, it makes sense that this is where BCH excels. Huge block size means small transaction fees for all transaction sizes. The only problem is that blocks are still mined every 10 minutes, meaning that confirmation times are the same as the most expensive Bitcoin transaction, albeit at a fraction of the cost.

BCH FEES
Similarly to Bitcoin, transaction fees for Bitcoin Cash are determined by demand for block space and transaction size in bytes.
Bitcoin cash’s biggest advantage is its 32 MB block size, which is huge compared to Bitcoin. This means that Block space isn’t so limited, and your transaction will be included in the next block.

Even if you need to send a transaction with many inputs and outputs, it won’t take up a large percentage of block space, keeping fees low.

Because BCH has a lot of headroom with its large blocks, even an increase in popularity and traffic doesn’t send fees skyrocketing. This doesn’t make it immune to this, it’s just that there would have to be a very significant increase in the amount of transactions being made.

What this means in practice is that even if the price of BCH is at e.g. $1500, the average fee is under 1 cent.