We’ve all heard about Bitcoin, but what is Bitcoin Cash? A Bitcoin fork that was created in 2020, Bitcoin Cash is a token that promises faster transactions and lower fees, making it a perfect candidate for a casino payment method.
Best Online Casinos with Bitcoin Cash
While it’s not as popular as Bitcoin, Bitcoin Cash has thousands of followers. The popular fork can be found at numerous cryptocurrency casinos, including Bitsler, mBit, FortuneJack and Cloudbet. All these sites are widely considered among the top crypto casinos where you can use the fork to deposit and withdraw instantly.
Juggernauts such as FortuneJack and mBit are powered by leading software providers and feature hundreds of games you can play with Bitcoin Cash and hopefully win big in return.
Bitcoin Cash Casino Software Providers
The most popular casinos with Bitcoin Cash include bitStarz, mBit, and FortuneJack. These sites are often placed among the top crypto casinos, and that’s mostly thanks to their amazing offer of games. All three casinos are powered by leading studios including Microgaming, NetEnt, Yggdrasil Gaming, Pragmatic Play, iSoftBet, Betsoft, Playtech, and many others.
Some casinos, such as FortuneJack, also offer games from lesser-known and up-and-coming software providers such as ELK Studios. These studios may not be as popular as NetEnt, for example, but they still offer a great collection of games and are behind some of the top slot hits.
Bitcoin Cash Deposits and Withdrawals
When it was launched, Bitcoin Cash promised faster transactions with lower fees and it duly delivered. The Bitcoin Cash network handles more transactions per second than Bitcoin, making it a perfect choice for online gambling.
To make a deposit, all you need is to provide the casino with your Bitcoin Cash address. The deposit will be completed instantly so you can start playing your favourite games.
Bitcoin Cash Casinos Restricted Countries
Most of the Bitcoin Cash casinos on our list accept players from all over the globe. However, mBit and bitStarz have banned US and UK players from signing up at the site. FortuneJack restricts the same users, additionally banning Australian, Swedish, and Italian players from its site.
Another Bitcoin Cash casino, Cloudbet, doesn’t accept players from the UK only. When it comes to Bitsler, US and French players should look in another direction.
What you should know about BitcoinCash
What is BitcoinCash?
Bitcoin’s genesis block was created on August 1st, 2009. This is a popular argument when it comes to the most popular cryptocurrency, so we will go into that a bit later. However, Bitcoin’s growth occurred over years and was due to people looking for ways to use bitcoin efficiently in other areas. Bitcoin cash was created because of the adoption of technology like the Lightning Network. What do they have in common? They both have a fork of Bitcoin called Bitcoin Bitcoin Cash has a larger block size, which allows for greater transaction speeds. However, these transactions take longer to process because of higher fees and lower transaction capacity, thus fees are more likely to be 0. Bitcoin cash also has a faster transaction timespan than bitcoin. In order to handle all the transactions that bitcoin has to process, there are 10 million more transactions that need to be processed. This also means that the network handles more transactions at any given time.
What is the purpose of Bitcoin Cash?
The purpose of Bitcoin Cash is to be able to handle more transactions and serve more users. Bitcoin Cash handles the majority of these transactions, so more transaction capacity and convenience for users is what a network with a larger block size is designed for. With larger block sizes, the block size can handle more transactions, more transactions mean that the network can handle more transactions, therefore, more transactions means more security, more security means more transactions, and more transactions means more security.
What are the benefits of Bitcoin Cash?
With Bitcoin Cash, the Lightning Network and the increased transaction timespan, the technology was able to handle more transactions. This is what the Bitcoin Cash community originally aimed to achieve. With increased transaction capacity, it means that the network can handle more transactions and make it more reliable for both merchants and consumers. Decreased fees on the block chain are one of the most important benefits of using Bitcoin Cash. Allowing more transactions means that you will have more efficient and faster transactions. The Lightning Network is a type of decentralised payment network. Bitcoin is a decentralised payment network, so most people think that Bitcoin Cash will be too decentralised. With the Lightning Network, the people at the Bitcoin community are able to turn it into a reliable payment network, which means that you can send Bitcoin payments to other bitcoin users instantly and reliably.
How does BitcoinCash work?
First of all, Bitcoin wants to facilitate the flow of cryptocurrency assets without central bank intervention. That is, the spread between the current price of Bitcoin and Bitcoin Cash are based on how the two cryptocurrencies are being traded at different exchanges, and it does not have any role to play in the determination of how much each cryptocurrency is worth. Therefore, it prefers to remain neutral.
To facilitate this, Bitcoin has a mint that can issue new bitcoins for every 10,000 coins minted. The most common Bitcoin Cash mints, including BTC-BCH and BCH, have a minting time of two minutes, whereas BCH mints take about two hours. After two minutes, the Bitcoin network will send a message to the mint saying that the coins cannot be added to the blockchain because the minting time is nearing the two-minute mark. As the mint does not know that the coin has reached the limit of its minting time, it will send another message to the network, advising that the coin is still valid. So, at any time, the Bitcoin network can tell that there are no more coins on the blockchain, and that they should stop minting them. In the case of BCH, it is possible that the system will not stop the minting for more than one day, or that the number of mining pools will be too high to effect the number of transactions on the blockchain. Bitcoin Cash takes care of these technical details and guarantees a consistent, predictable market price for bitcoin. At the same time, it is also designed to be a replacement for a fiat currency, which makes it a more efficient way to buy Bitcoin, as there are already enough people who want to use the currency as a store of wealth. However, BCH is still technically, and theoretically, a peer-to-peer, peer-to-peer electronic cash. That means that if there are multiple exchanges that charge different fees for buying or selling BCH, you will need to pay a flat fee for buying or selling BCH on each one. The maximum amount of money you can send with BCH on a single transaction is 1,000 BTC. The transaction fees on BCH are lower than those of Bitcoin, so you should not feel that you need to pay more for BCH transactions. However, you can check the current fees on the Bitcoin blockchain by visiting the Bitcoin Cash project website.
Bitcoin Cash solves the issue of the block size limit. Currently, there are 4.5MB in the blockchain. As the Bitcoin network is not suited for a larger blockchain, it wants to increase the block size limit. The biggest proposal is that the block size limit should be increased to 8MB. This would enable the network to handle more transactions and block the block size from 8MB to 32MB. As another option, Bitcoin Cash advocates for a block size limit of 32MB. This would allow the network to handle more transactions and block the block size from 8MB to 128MB. Unfortunately, there is no consensus on the future of Bitcoin Cash, and the process of scaling up the Bitcoin blockchain has been slow. In fact, Bitcoin Cash is not the first to propose increasing the block size limit. In fact, Bitcoin reached its current size limit in August 2020, before Segwit2x was implemented. In 2020, there were many technological solutions proposed for increasing block size limit. However, none of them were implemented before the fork on August 1, 2020. The scalability of the Bitcoin blockchain cannot be upgraded quickly enough, especially if more people use it as a store of value than a store of value, like, say, as a way to buy a cup of coffee. Even if the Bitcoin Cash network supports more transactions, it is still too slow to handle a processing load of the equivalent of several million cards that have to be verified.
So, bitcoin cash takes all these proposals into account and builds a system that can handle the Bitcoin blockchain. It is important to note that while Bitcoin cash is designed to be a peer-to-peer electronic cash, there are technical differences between the two coins. As a result, the scalability of the cryptocurrency for everyday uses has to take into account the technology that was used to create bitcoin. In terms of scalability, bitcoin cash is still behind that of the original bitcoin. In order to understand the differences between the two coins, we will compare both the bitcoin and BCH blockchains.
Bitcoin and Bitcoin Cash Are Similar
To understand the technical differences between the two coins, it is necessary to compare them with a true peer-to-peer electronic cash, which means you need to use the same hardware wallet for both the coins. Therefore, we use a technology called forking. When two coins have identical transaction times, it means that a change in the code or code changes between them caused a new block to be created. To verify the block, miners verify if the new block matches the one that was created from the old block. That is, if a block is created before the old block, miners will not be able to verify the block. The situation is similar if the block was created by different people. This kind of fork has happened before and miners tend to accept the new version of a coin as the more supported. To prove that a coin has a real fork, miners should see the two blockchains, but one of which is smaller than the other.