Here are answers to the most frequently asked questions about the new cryptocurrency Bitcoin Cash (BCH/BCC). If you have any comments or opinions regarding the information provided, you can leave them in the comments and we will definitely discuss them!
When did the Bitcoin Cash (BCH/BCC) cryptocurrency appear and what are its features?
Crypto coin has already appeared on the market. On August 1, at approximately 15:27 Moscow time, the Bitcoin chain split, and all people who had bitcoins in certain wallets and crypto exchanges (their list can be found here: https://bitcoincash.org) received the same amount of Bitcoin Cash. At this moment, the Bitcoin and Bitcoin Cash blockchains were identical, the last block had a serial number of 478558. Later, Bitcoin Cash acquired its own blocks.
Of the differences in relation to Bitcoin, new cryptocurrency We can only note an enlarged block of up to 8 MB; the remaining features are more of a marketing nature.
What is the difference between Bitcoin Cash (BCH/BCC) and other cryptocurrencies?
The difference is the same as that of Bitcoin in relation to other cryptocurrencies.
Who is the creator of the Bitcoin Cash (BCH/BCC) cryptocurrency?
The development group is not clearly known. The official website talks about the decentralization of the development team.
What is the capitalization of the Bitcoin Cash (BCH/BCC) cryptocurrency?
The capitalization of Bitcoin Cash as of August 4, 2017 is $4,743,063,254. What is the current capitalization of this cryptocurrency you can check at specialized service https://coinmarketcap.com.
Which wallet to choose for Bitcoin Cash (BCH/BCC) cryptocurrency?
You can choose a wallet for the Bitcoin Cash cryptocurrency on the official website https://bitcoincash.org.
Where and how can you buy and exchange Bitcoin Cash (BCH/BCC) cryptocurrency? On which exchanges is Bitcoin Cash (BCH/BCC) cryptocurrency traded?
Bitcoin Cash can be purchased on cryptocurrency exchanges. A list of crypto exchanges where you can buy BCH can be found.
Where can I see the Bitcoin Cash (BCH/BCC) price chart?
Is it possible to mine Bitcoin Cash and is mining Bitcoin Cash (BCH/BCC) profitable?
It is possible to mine Bitcoin Cash, but profitability is a relative question.
Is the cryptocurrency Bitcoin Cash (BCH/BCC) a competitor to Bitcoin?
In a certain sense, yes.
What is the forecast for the Bitcoin Cash (BCH/BCC) cryptocurrency rate for 2017-2018?
Most likely, the rate will fall, since this coin is, in fact, a regular fork of Bitcoin. Bitcoin Cash has no special advantages over Bitcoin (the declared block volume of 8 MB has not yet been observed), and there are no prerequisites for growth either.
is a 1-rank decentralized cryptocurrency designed to make a profit from making cryptographic transactions and changing the value of crypto assets. The system is a self-regulating financial service into which several functional modules are integrated. Among them:
- Exchange for buying and selling BCC;
- Trading robot-lender, generating 30% profit every month;
- An electronic safe that charges up to 8% per month for storing coins on the account;
- Full-fledged mining platform.
BitConnect – cryptocurrency based on the Scrypt algorithm; confirmation type: Proof of Work/Proof of Stake. The coins are used by community members for ghjtrnf services, as well as for investing in non-government currencies. In addition, the Company’s coins can be used as a payment system on partner sites.
The cryptocurrency operates according to the Scrypt protocol. The number of Proof-of-work blocks exceeds 26 thousand. The generation of each next block is rewarded with 10 BitConnect coins. The block is created within two minutes. Technical characteristics are traditional for most current cryptographic currencies.
Conclusion
Despite the fact that since its release, the BitConnect cryptocurrency has shown an increase in its quotation, market participants recommend treating it with caution. The project is quite young, so it is impossible to predict its further development. Moreover, many experts call BCC a hype coin that can burst at any moment. But this is more of a guess. Analysts also attribute the increase in the BCC rate to the continuing rise in the price of BTC, and not to the real development of the project. Still, the project is of some interest to investors and traders. If the platform continues to be in demand and attracts the interest of large financial institutions, the rate will continue to rise. In general, buying this cryptocurrency in large quantities in order to generate income in the long term is quite risky. But this is also true for many other digital coins. Everything here is determined by the investor’s strategy. Cryptocurrencies are highly volatile, so you need to act carefully and constantly monitor the market situation.
ICO
- First addition to exchanges: January 20, 2017/Price: 1(BCC) = $0.16
The ICO was carried out quite successfully, so almost immediately after the end of sales, the coins began to be traded on the Bittrex crypto exchange. In total, more than 4 million coins were sold during the ICO process. Further distribution of tokens is carried out as a reward to users for generating new blocks.
All BCC tokens that remained after the ICO sale were reserved by the development team and used for further development, marketing promotion, Maintenance networks and solving other problems.
The BitConnect crypto coin is a peer-to-peer decentralized digital currency aimed at the cryptocurrency community of users. This project is distinguished by its open source, as well as the fact that it allows users to earn money using digital currency by investing it in projects. BCC cryptocurrency is a peer-to-peer decentralized coin that allows you to make a profit by conducting digital transactions through changes in the rate of cryptocurrencies.
How was the Bitconnect project created?
The BitConnect coin entered the cryptocurrency market in November 2016. This currency is a decentralized internal payment instrument of the Bitconnect crypto network. The structure of the Bitconnect network assumes the possibility of issuing 28 million coins. Financial transactions carried out within the network between users are recorded in the distribution book with preliminary verification through network nodes. At the same time, the network uses Proof of Work (PoW) and Proof of Stake (PoS) as a confirmation algorithm.
The use of two cryptocurrency algorithms, PoW and PoS, allows for security within the network, which guarantees the safety of funds and the confidentiality of transactions.
This approach helped the creators of Bitconnect attract an impressive user audience who believed in the promises of the authors of this project. However, there is no reliable information regarding the individuals acting as the founders of the BitConnect company. This feature of this project should be alarming, because the factor of concealing the identities of its creators may indicate the possibility of fraudulent actions on the part of others, which will lead to the loss of investors’ funds.
Bitconnect Features and Specifications
The BitConnect cryptocoin (BCC) is an internal payment instrument of the digital platform of the same name. This project is based on the principles of decentralization, confidentiality of financial transactions, and open source code. All this allows us to ensure the most secure and easy interaction between users and the system to obtain mutual benefits in the form of final profits.
At the same time, the specific structure of the Bitconnect network guarantees the security of stored funds and non-disclosure of individuals who own digital assets. All this allows this project to attract everyone large quantity users interested in the possibility of making a profit using crypto.
This digital coin provides the opportunity to earn money by conducting exchange transactions with fiat money and cryptocurrencies, as well as receiving profit in the form of accrued interest on funds invested in the project. All profit received is credited to the user to his personal wallet in the BitConnect network. Thus, the money accrued to the user for providing support for the network and improving the security of its operation will be kept completely safe from intruders.
The use of the BCC coin and its parent platform Bitconnect for transactions provides users with ample opportunities to manage existing digital assets in the absence of intermediaries in the form of banking organizations and government agencies. This makes the digital network safe, and also completely eliminates the possibility of changing the primary conditions of interaction between users and the site and eliminates the need to pay hidden fees.
At the same time, the platform provides reliable protection of crypto-assets from possible theft and provides users with full responsibility when conducting financial transactions.
Such features of this crypto project initially helped it increase its level of capitalization in relation to the dollar and other fiat currencies. In turn, this contributed to the expansion of the user audience.
The main advantages of the BCC currency
The BitConnect cryptocurrency has the following advantages that distinguish it from other similar payment instruments:
- ensuring reliability during exchange transactions and payments. Despite the fact that this coin has not yet managed to enter the list of the most popular cryptocurrencies, this coin is still used by many crypto enthusiasts when conducting currency conversion operations and in mutual settlements. This confirms its reliability;
- high levels of protection of information and funds. Over the entire period of operation of this site, it was repeatedly attacked by attackers who wanted to take over the funds of users of this project. However, not a single such incident had a negative impact on the operation and stability of this service. All this proves the safety of storing and using funds within the Bitconnect platform;
- versatility of use. The cryptocurrency platform and its coin work without problems on different operating systems, which allows various users to use it for their own purposes;
- complete independence. BitConnect was originally created taking into account the policy of autonomy. This is one of the main advantages of the project, since any changes to it can only be carried out with the consent of other private owners of the community. Therefore, unauthorized changes within the network structure are impossible;
- ensuring high speed of transactions. The network is built in such a way that transactions are carried out in the shortest possible time. This attracts new users, which leads to an increase in the currency against the ruble and other fiat money;
- a steady increase in popularity among fans of the ideas of the crypto movement. Of course, it is still difficult for this site to compete with Bitcoin, but nevertheless, it has already managed to acquire large investors who are ready to invest in it to support its subsequent growth.
All these factors force experts to make positive predictions regarding the future exchange rate of the BCC coin and its subsequent direction of development.
Disadvantages of the Bitconnect project
The Bitconnect coin, like any cryptocurrency project, is not without certain drawbacks. The disadvantages of currency include:
- existing risks of loss of funds invested in the project. As in the case of investing money in any other cryptocurrency project, the BCC coin cannot guarantee stable growth to its investors. This is due to the volatility of such crypto assets, which often leads to sharp drops in their value. As a result, investors suffer financial losses;
- possibility of network hacking. Even the most advanced technologies cannot provide full protection from burglary. We also must not forget about the human factor. People often forget or lose passwords for their accounts. In this case, it will be impossible to access the wallet;
- Some users are concerned about the fact that the digital currency is not backed by anything. Therefore, it is impossible to predict how much such assets will cost. In such conditions, investing becomes a very risky endeavor;
- Cryptocurrency mining is becoming more and more difficult every day. Crypto mining requires serious computing power. Given the instability of the exchange rate of digital money, the funds invested in equipment may not pay off.
It is important to note that the listed disadvantages are characteristic not only of BCC, but also of other cryptocurrency projects.
BCC Outlook for 2019
When considering expert forecasts for 2019 regarding the future prospects and direction of development of the BitConnect site, it is important to note that BitConnect mining allows you to attract new users to this project who are interested in mining these tokens in order to make subsequent profits. Moreover, BCC can be stored in both a paper and digital wallet.
The creators of Bitconnect are constantly in the process of finalizing and improving the cryptocurrency platform. Marketing and advertising programs designed to expand the number of users willing to invest in BCC.
In any case, it is difficult to make accurate forecasts regarding this asset in the way that it tends to high volatility. This is a feature of all cryptocurrencies, not just Bitconnect.
If the crypto market moves towards increasing asset capitalization, there will inevitably be an increase in BCC exchange rate quotes. As a result, this will lead to an increase in the capitalization of the entire project as a whole.
The feasibility of investing in BitConnect
Forecasting the BitConnect rate directly depends on how ready the site’s authors are to confront competitors. The cryptocurrency market is developing rapidly and new ambitious projects are constantly appearing on it, ready to attract investors.
It is not yet possible to assess the future prospects of the BCC coin. It is important to understand that its further growth depends on many factors. The question of the advisability of investing in this crypto asset should rest solely with the investor himself. When investing in such an unstable asset as crypto, it is important to soberly assess the existing risks associated with the possibility of losing investments.
You cannot trust the forecasts of one analyst; you need to study the opinions of many specialists who study the principles of the cryptocurrency market and the factors influencing it.
With a successful combination of circumstances and in the event of subsequent growth of the cryptocoin market, an asset such as Bitconnect can bring profit to the investor. Profit can only be obtained in the medium term. This is due to the relatively recent collapse of the BCC rate, which has shaken users’ faith in this coin. Only time will help return cryptocurrency to its former popularity.
It is recommended to invest in this digital asset when it is at its lowest price point. Therefore, now is a good time to invest in Bitconnect.
A profitable way to purchase Bitconnect crypto coins is to purchase them through cryptocurrency exchanges. It should be noted that this coin has not yet gained much popularity like some other cryptocurrencies, which limits the list of exchanges that support transactions using Bitconnect. In any case, to obtain this digital asset through exchanges, you will first have to purchase Bitcoin, Ether or other popular cryptocurrency for fiat money for its subsequent exchange for BitcoinConnect.
Some sites that are online exchangers offer users the opportunity to convert electronic money and fiat currencies in BCC. This method may be convenient and fast for many users. This is due to the fact that exchangers often do not require users to register. To exchange funds for BCC, you just need to indicate the number of the digital wallet where the funds will be transferred, as well as pay the invoice.
If we are talking about crypto exchanges, then registration is indispensable. After creation personal account the user will be billed. After payment, it will be possible to carry out crypto conversion operations. The main advantage of exchange platforms in comparison with online exchangers is that they can offer users more favorable market exchange rates. You can also purchase bitconnect from other users on similar resources.
Buying crypto from individuals available not only on exchanges, but also on thematic forums dedicated to the topic of cryptocurrencies. Before transferring money to a seller from the forum, it is recommended that you read reviews about his work. This is important to do in order to minimize the possibility of falling for a scammer. It is important to understand that there are many attackers operating online who take over the funds of gullible people using fraudulent methods.
You can buy BCC (BitConnect) profitably on the following sites:
BCC cryptocurrency - BitConnect
BitConnect digital currency is a peer-to-peer electronic payment system community-oriented, decentralized and open source. This digital token allows users to engage in lending, investing, buying shares, paying various services online, storing their capital in non-state currency and engaging in various types of income.
BitConnect's initial coin offering (ICO) took place last year between November and December. The procedure was successful and immediately after its completion, the created coins were put into circulation on the Bittrex trading platform, where users who bought them were able to use them in their financial transactions. More than 4 million coins were sold.
Benefits of BitConnect
1. BitConnect occupies a consistently high position among other cryptocurrencies, and it has an impressive army of its holders;
2. It is considered a highly protected token, thanks to high degree protection;
3. The BitConnect project operates on most well-known operating systems, which characterizes it as a universal means of payment;
4. The community has a policy of autonomy; changes to the project are allowed only with the consent of all community members;
5. Instant transactions;
6. Increase in popularity.
Negative aspects of BitConnect
1. There is a risk of loss of investment;
2. Hack attacks are possible, because now even the most popular security measures do not guarantee 100% security against hacking;
3. Like most other electronic money, BitConnect does not have any collateral;
4. Mining coins has become increasingly difficult lately.