Bitcoin Cash (BCH) is a decentralised currency that was created in the year 2017 as a way of improving the Bitcoin system and speeding up slow transactions by increasing the size of blocks. By increasing the size of these blocks, drastically increased the number of transactions that could be processed on each.
Check out Swyftx Learn to find out more about Bitcoin Cash.
To buy Bitcoin Cash, sign up for a trading account with Swyftx; Australian Cryptocurrency Exchange. Simply verify your account, upload AUD, select the amount of BCH you wish to purchase. Click ‘Buy BCH’ and the Bitcoin Cash will become immediately available in your wallet.
You can buy Bitcoin Cash in Australia by creating a crypto trading account with Swyftx. The account registration and verification process takes less than three minutes and as soon as this is complete you can deposit AUD using bank transfer, POLi, PayID, OSKO, or debit card and use it to buy Bitcoin Cash (BCH).
As a decentralised, permissionless cryptocurrency, Bitcoin cash requires no intermediaries or third parties to authorise transactions. Unlike fiat currencies such as AUD and USD, Bitcoin Cash does not rely on a monetary middleman such as a central bank to process transactions. Transactions are fast and fees are lower than that of Bitcoin. In addition to being used for peer-to-peer payments between participants, Bitcoin Cash can be used to pay for goods and services in-store and online. Essentially anyone can accept bitcoin cash payments if they have a computer or smartphone. Alternatively, people in Australia can buy Bitcoin Cash using the Swyftx cryptocurrency exchange.
There may be some cryptocurrency exchanges in Australia that list BCH and accept AUD cash deposits to buy Bitcoin Cash. Swyftx does not support this type of deposit. If you want to buy Bitcoin Cash, we accept deposits made via bank transfer, debit card, PayID and POLi. Once the funds have successfully landed in your account, then you can use this to buy Bitcoin Cash and other cryptocurrencies.
When you buy Bitcoin Cash (BCH) the price is set using global trade volumes and the real-time feed which shows the latest buy and sell price of the decentralised coin (basically the price is set using the price of the most recent Bitcoin Cash transaction). When you buy Bitcoin Cash with the Swyftx cryptocurrency exchange you will most likely notice that the price is not as prone to as much fluctuation as other trading platforms as we offer small spreads and low trading fees.
Bitcoin cash was created in 2017 as a result of a hard fork to improve Bitcoin’s scalability. Bitcoin miners and developers were concerned with Bitcoins ability to scale effectively. Bitcoin Cash was considered a continuation of Bitcoin and created as a peer-to-peer digital cash platform. The aim was to scale Bitcoin Cash so it can meet the demands of a global payment network. The Bitcoin network can only process seven transactions per second. However, with Bitcoin Cash’s larger block size, the decentralised currency can now handle significantly more transactions per second.
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