FIAT Withdrawals - Why I Invest into Bitcoin Cash
I remember writing about bitcoin cash a lot on readcash. You can even check out my content on the readcash. I have managed to write a lot about how and why one should adopt (BCH) bitcoin cash.
By no means I am trying to devalue hive blockchain but my point is about how the BCH is filling a specific POS and counter payments gap in the digital economy. Unfortunately our HIVE isnt there yet.
I recently learned about the local exchanger that allows me to exchange the BTC and Bitcoin Cash. Ans since then I started exchanging most of my online coins into the BCH before converting into the FIAT. It also has pretty decent value on the shelf while you are holding. Though in dip times like all the coins this too is down at the moment.
Why You Should Invest into BCH
Let's keep things simple first. You should only invest into the BCH if you have local exchanger or means to convert this into FIAT of your place. If not investing into BCH does not make sense. And you should choose any other currency in another case.
Keeping the exchanger part aside, you can find out that there are more shops and the online sites that are now starting to accept the BCH in their store. Take example of newegg that allows you to buy the electronics and computer parts which you can pay for using the BCH.
Another point is that market value of the BCH when the BTC stays in range of 50k to 60K would be high too. As it kind of depends on BTC indirectly and more people put their funds into BCH during this time. For now the accumulation of BCH period is pretty good option.
Why Bitcoin Cash and Why Not HIVE
So few people asked me why not HIVE. I explained this part earlier but to be honest not having option to exchange locally limits a lot. Besides world has yet to buy the dream of 100% crypto and they still rely on the FIAT for everyday work. So having exchanger seems to be my current option.
However I won't be surprised if some folks from the leofinance community come up with say option for mobile app and POS support which makes accepting and sending the HIVE easier in shops. Imagine how good that would be where your writing could fetch your grocery and other items for which you rely on FIAT.
Until we get some concrete solution on this, there is no way we can use HIVE for everyday usage. I know it's kind of pity that we have pretty good infrastructure, community and dApps otherwise but POS is where it fails for now or we may need to work on the adoption or usage part.
What's the future for my withdrawals?
I will continue to hold it in a coin which I can exchange locally. And I may choose to move with the wind because I think having better infrastructure is necessary for the crypto or else investing into coin is not worth it. BCH for now addresses my concerns and I may focus on that part.
What about you?
Do you have any favorite coin that you hold onto before converting into the FIAT? Or do you just go purist and never touch the investment?
How does your process of the investment or withdrawal works? Let me know in the comments, may be I can learn things or two from that.
Posted Using LeoFinance Beta