We have a centralized form of currency and banking which is also known as traditional banking. We use this form of currency for the payment to get something we want. But in 2009 there was a revolution in this centralized form of currency and a software developer developed a decentralized form of currency which is known as cryptocurrency. The cryptocurrency which was developed by the developer is known as Bitcoin. Bitcoin was developed for payment in return for the services. Bitcoin was used for the payment in 2010 when bitcoins were given in return for the purchase of the pizza. The developer stated that it will be used for payment in the future and will be replacing the traditional way in which one uses to give the cash/ currency notes as a method of payment. And in present times we are witnessing such changes where people are using bitcoins or other types of cryptocurrencies in the place of cash.
With the increasing craze of bitcoins, various companies are accepting bitcoins as a payment option. While some companies are working on the invention of their crypto assets. An example of such a company is Tesla which launched its crypto-asset which was given the name of Dogecoin. This craze is also leading to the up-gradation of the existing cryptocurrencies. The main change which people noticed in recent times is the invention of bitcoin cash which holds all the properties similar to bitcoin. But what is bitcoin cash and how is it different from the bitcoin itself. The answer to this question is that bitcoin cash no doubt holds the properties of the bitcoin but there is a major difference between the two i.e. bitcoin cash is much more accessible as compared to the bitcoin and people feel real-time cash exchange with bitcoin cash. Bitcoin cash is also the decentralized form of currency which do not depend on the banking system and is not controlled by the central organization. The identity of the transaction is kept safe and no one knows who has the bitcoin cash and where he has spent it. It is a peer-to-peer electronic cash system and is more secure than any other crypto asset. Like bitcoins, the transaction of bitcoin cash is recorded on the blockchain and the room for the fraud is closed just like the blockchain process in the bitcoin.
Various platforms allow the user to change the crypto asset i.e to exchange bitcoin with bitcoin cash by some fixed amount. There are some restrictions on the activity which we call limitations or limits. These limits may be because of security reasons, rates, and many more. Some platforms do not allow the person to swap more than 1 BTC and some do not allow the person to withdraw much amount of the bitcoins.
