BCH

Bitcoin Cash price

BCH
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$590.40

-$7.91 (-1.32%)

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ALL
1Y
1M
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24H
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Market cap
$11.18B
Volume (24h)
$7.05B
Circulating supply
18,902,681

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₮590.04$590.04
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About Bitcoin Cash (BCH)

About Bitcoin Cash (BCH)

Bitcoin Cash is both a cryptocurrency and the decentralized blockchain network on which it transacts. You might also see Bitcoin Cash referred to as its ticker symbol, BCH. As a fork of Bitcoin, or BTC, Bitcoin Cash is very similar to the original cryptocurrency. The most significant difference is the amount of transaction data the individual blocks of each network can store.

Bitcoin Cash was created in 2017 following years of disagreement within the original Bitcoin community. Increasing Bitcoin adoption led to a rising number of transactions competing for the same limited block space. When there are too many transactions to fit in a single block, miners prioritize those including the highest fees. Rising transaction fees made Bitcoin less viable for smaller payments.

Opinions were split on how best to scale Bitcoin. Some reasoned that raising the block size would increase overall capacity — reducing the need to outbid other users' transaction fees. Others argued that this would lead to network centralization, since node operators would need more expensive hardware to store the entire blockchain. Instead, they advocated scaling using layers above the main chain.

In August 2017, those Bitcoin miners favoring larger blocks introduced the change. It split the network, and all wallets holding BTC at the time received an equal number of the new BCH. Since then, Bitcoin Cash has continued to increase the maximum block size. As of January 2021, Bitcoin Cash blocks can be up to 32 MB.

Bitcoin Cash plans to continue increasing block sizes gradually. Updates are scheduled every six months. While most previous hard fork updates have been non-contentious, two that met miner resistance led to the chain splits that created Bitcoin SV in 2018 and Bitcoin Cash ABC in 2020.

BCH price and tokenomics

The BCH price behaves similarly to that of BTC's. The two cryptocurrencies both have a maximum supply of 21 million, along with a steadily reducing issuance rate. With supply tightly controlled, changing demand has a large impact on the Bitcoin Cash price.

Proponents of Bitcoin Cash believe that Bitcoin was intended as a payments system. Therefore, the network needed the capacity to process as many transactions per second for the lowest fees possible if it was to succeed.

Through previous and future scheduled hard forks, Bitcoin Cash aims to support as many as 5 million transactions per second. Potential adoption for payments in the future would create demand, which may increase the BCH price.

About the founders

Technically speaking, the founder of Bitcoin Cash is Satoshi Nakamoto. As a fork of the original Bitcoin network, Nakamoto wrote most of Bitcoin Cash's code.

Scaling Bitcoin has been a divisive topic since as far back as 2010. However, the issue would dominate discussions between 2015 and 2017. Meeting behind closed doors in both Hong Kong and New York in 2016 and 2017, influential miners and early Bitcoin companies agreed to a compromise to appease both camps. The proposed solution was called SegWit2x. However, neither party was truly satisfied.

In the summer of 2017, those rejecting big blocks introduced the scaling solution SegWit via what is known as a user-activated soft fork, or UASF. Those nodes running the new software rejected blocks from miners still on the old software. In response, a group of miners, led by ViaBTC, introduced their own change. It increased the size of blocks to 8 MB — but its lack of backward compatibility with the earlier software split the network, creating Bitcoin Cash.

Learn more about Bitcoin Cash (BCH)

About the founders

Jihan WuCo-Founder

In 2013, he co-founded Bitlanda and served as Co-Chairman of the board and CEO. Today, bitland is already the most valuable company in the blockchain industry, with 2017's chip shipments second only to Huawei and Hisilicon, surpassing Wei Ying 24years annual operating profit in just four years.

Gavin AndresenCTO

Former chief developer of BitcoinCore, who has been contributing to the core of bitcoin since February 2016, has also made several efforts to expand bitcoin. In May 2016, his access to GitHub was revoked.

Bitcoin Cash FAQ
How does Bitcoin Cash work?

Like Bitcoin, Bitcoin Cash comprises a distributed network of nodes. Both network's use a proof-of-work consensus mechanism.

Nodes receive transactions and share them with the rest of the network. Miners then gather transactions into blocks and attempt to hash all the transaction data with a random number, or nonce. If the resulting hash falls below a dynamic threshold set by the network, that miner gets to add their block to the blockchain. Successfully adding a block rewards the miner, incentivizing honesty.

Since every block contains hashed data from the previous block, they are said to be chained together — hence the term "blockchain." Attempting to change the data in any previous block invalidates all subsequent blocks. This gives incredibly strong assurances that no BCH has been spent twice.

What is the difference between Bitcoin and Bitcoin Cash?

The biggest difference between Bitcoin Cash and the original Bitcoin is the block size. Bitcoin Cash blocks can currently reach 32 MB. Bitcoin blocks are theoretically capped at 4 MB.

With Bitcoin blocks remaining small to ensure maximum decentralization and security, it's increasingly adopted as a store of value asset — akin to a digital gold. By contrast, Bitcoin Cash aims to be a global, permissionless, low-cost payments network.

Larger blocks allow Bitcoin Cash to process a greater number of transactions every second. However, some believe that this enhanced transactional capacity comes at the cost of compromised decentralization and, therefore, security.

What is Bitcoin Cash used for?

Bitcoin Cash primarily aims to be a payments network. By not relying on central intermediaries to issue new units or process transactions, BCH transactions are permissionless and agnostic to international borders. Thousands of retailers around the world already accept Bitcoin Cash payments — and the number is growing.

Additionally, no central authority can issue new Bitcoin Cash. This tightly controlled and reductory inflation rate encourages investors to buy BCH in the belief that its purchasing power will increase in the future.

Finally, changing demand set against this limited supply makes the BCH price highly volatile. With the Bitcoin Cash price capable of dramatic moves over a short period of time, BCH is popular among traders.

If you'd like to buy BCH as an investment or for use as a medium of exchange, you can do so right here at OKEx. We offer a world-leading and feature-rich digital currency exchange where you can trade BCH against a range of crypto and non-crypto currencies.

What happens if I send Bitcoin Cash to a Bitcoin address?

If the receiving address is a non-SegWit address, the individual receiving BCH will need to know the private key of the BTC address. Since legacy addresses on both networks use the same format, you can recover the funds with BCH wallet software and the relevant private key.

If the receiving address is a SegWit BTC address, you would need the assistance of miners. It's not easy — but mining pools have previously reclaimed BCH and returned it to its owners. On the other hand, some have recovered BCH and kept it for themselves.

If the receiving address is one controlled by an exchange or other service provider, recovery will depend on their own policies. At OKEx, we unfortunately can't help you reclaim Bitcoin Cash sent to our BTC address.

When you deposit any cryptocurrency, we explicitly state that you will lose funds sent to the wrong address. Make sure to double check your transaction before hitting send!

What is the difference between Bitcoin Cash and Bitcoin SV?

Bitcoin SV is a fork of Bitcoin Cash created in November 2018. At the time, some within the Bitcoin Cash community wanted to follow a more aggressive schedule of block size increases. They initially introduced 128 MB blocks, splitting the Bitcoin Cash network.

Bitcoin SV stands for Bitcoin Satoshi's Vision. Its most influential proponent is Craig Wright, a controversial computer scientist who also claims to be Bitcoin's creator, Satoshi Nakamoto. The main difference between the two is Bitcoin SV's unlimited block space, compared to Bitcoin Cash's 32 MB limit.

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Bitcoin Cash price statistic

Price today
Bitcoin Cash price
$590.40
Price change (24h)
-$7.91
-1.32%
Low and high (24h)
$570.73Low
$625.51High
Volume (24h)
$7.05B
Circulating supply
18,902,681
Market cap
$11.18B

Found any mistakes?

Bitcoin Cash FAQ
How does Bitcoin Cash work?

Like Bitcoin, Bitcoin Cash comprises a distributed network of nodes. Both network's use a proof-of-work consensus mechanism.

Nodes receive transactions and share them with the rest of the network. Miners then gather transactions into blocks and attempt to hash all the transaction data with a random number, or nonce. If the resulting hash falls below a dynamic threshold set by the network, that miner gets to add their block to the blockchain. Successfully adding a block rewards the miner, incentivizing honesty.

Since every block contains hashed data from the previous block, they are said to be chained together — hence the term "blockchain." Attempting to change the data in any previous block invalidates all subsequent blocks. This gives incredibly strong assurances that no BCH has been spent twice.

What is the difference between Bitcoin and Bitcoin Cash?

The biggest difference between Bitcoin Cash and the original Bitcoin is the block size. Bitcoin Cash blocks can currently reach 32 MB. Bitcoin blocks are theoretically capped at 4 MB.

With Bitcoin blocks remaining small to ensure maximum decentralization and security, it's increasingly adopted as a store of value asset — akin to a digital gold. By contrast, Bitcoin Cash aims to be a global, permissionless, low-cost payments network.

Larger blocks allow Bitcoin Cash to process a greater number of transactions every second. However, some believe that this enhanced transactional capacity comes at the cost of compromised decentralization and, therefore, security.

What is Bitcoin Cash used for?

Bitcoin Cash primarily aims to be a payments network. By not relying on central intermediaries to issue new units or process transactions, BCH transactions are permissionless and agnostic to international borders. Thousands of retailers around the world already accept Bitcoin Cash payments — and the number is growing.

Additionally, no central authority can issue new Bitcoin Cash. This tightly controlled and reductory inflation rate encourages investors to buy BCH in the belief that its purchasing power will increase in the future.

Finally, changing demand set against this limited supply makes the BCH price highly volatile. With the Bitcoin Cash price capable of dramatic moves over a short period of time, BCH is popular among traders.

If you'd like to buy BCH as an investment or for use as a medium of exchange, you can do so right here at OKEx. We offer a world-leading and feature-rich digital currency exchange where you can trade BCH against a range of crypto and non-crypto currencies.

What happens if I send Bitcoin Cash to a Bitcoin address?

If the receiving address is a non-SegWit address, the individual receiving BCH will need to know the private key of the BTC address. Since legacy addresses on both networks use the same format, you can recover the funds with BCH wallet software and the relevant private key.

If the receiving address is a SegWit BTC address, you would need the assistance of miners. It's not easy — but mining pools have previously reclaimed BCH and returned it to its owners. On the other hand, some have recovered BCH and kept it for themselves.

If the receiving address is one controlled by an exchange or other service provider, recovery will depend on their own policies. At OKEx, we unfortunately can't help you reclaim Bitcoin Cash sent to our BTC address.

When you deposit any cryptocurrency, we explicitly state that you will lose funds sent to the wrong address. Make sure to double check your transaction before hitting send!

What is the difference between Bitcoin Cash and Bitcoin SV?

Bitcoin SV is a fork of Bitcoin Cash created in November 2018. At the time, some within the Bitcoin Cash community wanted to follow a more aggressive schedule of block size increases. They initially introduced 128 MB blocks, splitting the Bitcoin Cash network.

Bitcoin SV stands for Bitcoin Satoshi's Vision. Its most influential proponent is Craig Wright, a controversial computer scientist who also claims to be Bitcoin's creator, Satoshi Nakamoto. The main difference between the two is Bitcoin SV's unlimited block space, compared to Bitcoin Cash's 32 MB limit.