Bitcoin cash was developed in 2017 as a split-off of bitcoin, known as a “fork” in crypto parlance, to solve some of bitcoin’s issues as it grew more popular.
The bitcoin cash creators aimed to raise bitcoin’s block size limit of one megabyte every 10 minutes — which translates to a maximum of seven transactions per second — to eight megabytes every 10 minutes, de Vries said.
Bitcoin is by far the largest digital currency, with a market value of more than $1 trillion, according to Coinbase.
Bitcoin cash was supposed to boast faster transaction speeds than bitcoin, but that that didn’t exactly pan out the way the creators expected.
Transaction fees apply any time you transfer coins, either to someone else as a payment or to your own wallet, de Vries said.
Most of the popular bitcoin exchanges will also allow you to buy bitcoin cash.
Bitcoin cash has shot up more than 139% in the past month.