Crypto 101: Bitcoin Cash (BCH)
Crypto 101

Bitcoin Cash: Crypto 101

Bitcoin Cash (BCH) is a peer-to-peer network that aims to enable fast global payments, low fees, privacy, and high transaction capacity.

The Bitcoin blockchain has been subject to a number of “forks” – split branches of the blockchain ledger that occur when communities disagree about how to address an issue that impacts the protocol. In 2017, the Bitcoin community was split in two when a group of miners and users created their own blockchain via a fork to the Bitcoin blockchain.

By way of this fork to the Bitcoin blockchain, Bitcoin Cash was established as an offshoot of Bitcoin due to disagreements over implementing the Segregated Witness (SegWit) upgrade. SegWit enabled Layer 2 scaling solutions – the most popular of which is the Lightning Network.

Some of the features of Bitcoin Cash are (1) low transaction fees, as little as $0.01; (2) supply scarcity, only 21 million BCH; and (3) fast transaction speeds.

Bitcoin Cash (BCH) is available on Abra Trade.

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About Abra

Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.

Why Abra

Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.

How Abra Protects Your Funds

Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.

Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.

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