Now many are interested in bitcoin, however, not everyone understands exactly what it is. But even those who have some idea of bitcoin, if they suddenly want to dive into cryptocurrency world, will be shocked. They will learn about the existence of an overwhelming number of other digital currencies.
The birthday of Bitcoin Cash is August 1, 2017. This was the day when the Bitcoin chain split and led to the appearance of Bitcoin Cash. The reason for this split was the slowdown of Bitcoin’s transactions and the growth of its commissions caused by the small size of the block – only 1 megabyte. Bitcoin’s holders started talking about its obsolescence and the developers reacted to such conversations very quickly – a new 8 megabytes fork
Recently, the term “cryptocurrency token” has been widely used. Its use can be misleading, pointing to the same meaning with the “cryptocurrency”. In fact, these two terms have similarities, but there are also fundamental differences.
Cryptocurrency is a very popular digital asset, in which millions of people around the world are investing. Digital coins allow you to earn money both for long-term storage, and for their speculation.
The cryptocurrency market is very sensitive to changes of the fiat money rate, which is confirmed by statistics. On traditional exchanges, now professional speculators are trading, their experience allows not to react right away to the emerging drawdowns of quotations. On the cryptocurrency exchanges the situation is different – here the bulk of inexperienced traders often and unconsciously reacting to fluctuations in price rates.