***Updated: September 10th, 2020***
Originally launched in the summer of 2017 in an attempt to increase Bitcoin’s limit regarding block size, Bitcoin Cash was created by those unhappy with plans for the capacity change. Developers “forked off” from the mainstream cryptocurrency and spawned the new coin, giving anyone already holding BTC a matching amount, which was a little less than 10% of the original.
Then in November 2018, it split again into two distinct commodities due to another disagreement on its future with the birth of “Bitcoin Cash ABC” and “BSV” (Bitcoin Satoshi’s Vision). This time it was Craig Wright and Calvin Ayre (founder of Bovada) who backed SV, while Jihan Wu and Roger Ver were championing ABC, an abbreviation for Adjustable Blocksize Cap. Today the main differences between the two are simply technology used and block size, with both sides claiming their version is superior.
Don’t be mistaken: Bitcoin Cash is not a “younger brother” and somehow inferior product. It’s popularity is growing at a much faster rate than most others on the market because it’s a fantastic peer to peer electronic currency and it can also be used in over 200 brick and mortar shops around the world.
How to Deposit at Online Casinos with Bitcoin Cash
The story here will be familiar to many, as making gambling deposits from the United States at Bitcoin Cash Casinos is identical to most other Alt Coins, including fashionable ones. First off, it’s necessary to open a “virtual wallet” and learn how to buy cryptocurrency, which only takes about 10 minutes.
Then money can be moved into the Blockchain wallet via bank card, wire, or credit card to purchase limitless amounts, with current exchange rates and fees clearly shown before confirming orders. Once the process is completed contact the chosen betting website and ask for an “address” that will be a unique string of letters and numbers.
From there, simply go back to the wallet, click
Send, and copy and paste the address and click
Confirm. Transfers then need to be accepted, usually taking no longer than an hour depending on how busy their finance team is at the time.
Once received they’ll send a confirmation email and funds will be ready to use upon the next login. This all might sound a little complicated now but after gaining a bit of experience it becomes old hat since it’s one of the easiest ways to execute electronic financial transactions today.
The Pros and Cons of Bitcoin Cash
Some may argue Bitcoin Cash’s market volatility could be a “con”, but a few diehards consider fluctuations in value part of its allure. By the time a payout is in hand it could be even more money than originally won, or it could have just lost a healthy percentage of its worth.
This type of unpredictability will be scary to some but if BCH is converted back over to USD as soon as possible, there shouldn’t be any major changes in exchange rates. Obviously, the probability of extreme fluctuation rises the longer it’s kept in crypto form so don’t procrastinate.
Its main strength is the amount of people using it is growing steadily, popularity not stifled by scaling issues that countless other coins face. Therefore, it should enjoy higher market penetration than competitors, thus increasing adoption rates by average consumers, solving the investor confidence issue it had when first released.
If all that isn’t enough, there are also two huge “pros” when compared to BTC…
Bitcoin Cash VS. Bitcoin
As everyone knows, Bitcoin Cash’s value can bounce around much more than the commodity it spawned from that (usually) holds it quite well. This initially might be a turnoff for some interested in trying it out, however, swings are going to affect any currency on the market, crypto or not, so it just has to accepted there’s a small risk when using it.
In regards to timeframes, occasionally it takes up to 24 hours for BTC transfers to be confirmed by casinos, while BCH is only minutes. This is due to its congestion-free network utilizing robust blockchain technology and ensuring lightning-fast completion. Simply stated, their infrastructure can handle a lot more traffic per second.
The other main difference between the two Alt Coins is fees charged per transaction. It only costs a fraction of the cost to move compared to BTC and that’s money saved for a bankroll, so the better choice should be obvious.
Best Bitcoin Cash Casinos
There are still only a handful of USA online casinos accepting Bitcoin Cash deposits but due to customer demand it can be found at more places than before. Although there’s not a huge selection to choose from, top-rated is SportBetting.ag since in addition to slots and table games, they also feature a full sportsbook taking action on NFL, NBA, and all major leagues around the world. Not to mention, a racebook to place offtrack horse wagers for every major racing facility in America.
For those wanting to play internet poker with BCH, the sole option is aforementioned SportsBetting.ag who host Texas Hold ‘Em, Omaha, and other popular variations, with massive tournaments for all. Without question they’re an industry leader admired by many.
However, if these extra products aren’t attractive, go check out Wild who launched in the fall of 2018 and are managed backed by the same company as SB.ag. Specializing in bringing Las Vegas attractions into people’s homes with great bonuses, professional customer service, and quick withdrawals, they’re definitely worth a serious look.