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Buy Bitcoin Cash in India
Simple Steps to Buy Bitcoin Cash (BCH) in India
Register: Sign Up with Bitbns and enter name, phone number and email id for account creation purposes.
ID Proofs: Next, submit your PAN card, bank account details and Aadhaar card photocopies. (Residents of Assam can upload Driving license photocopy) for proceeding with background verification process.
On successful verification of uploaded documents which will take only 30 minutes, investors will be notified via email about account activation.
Finally investors can Transfer funds to their Bitbns account using NEFT/RTGS/IMPS or UPI and begin placing their trading orders!
Investors have an option of performing an intra-transfer of their Bitcoin Cash between their various other cryptocurrency exchange accounts into their Bitbns account which would not take more than 10 minutes.
SegWit, AsicBoost, Bitcoin cash, SegWit2x, Lightning Network: so many strange terms that will have marked the year 2017 in the world of cryptocurrency Bitcoin. For a few years now, the community has been divided over how to increase the flow of transactions, which has reached a critical limit. Some think that we should not hesitate to increase this rate by allowing the blockchain to record more through the increase in the maximum size of transaction blocks. Others think that this technique would lead to a disturbing centralization of the system.
Bitcoin Cash has been proposed to try to solve the recurring problem of the system's ability to absorb growth. The Bitcoin network can only handle a dozen operations per second. Compared to the thousands of operations per second that Visa networks can handle, this is a fundamental and structural limitation.
Some interesting features of Bitcoin Cash:
The Bitcoin community has been thinking for a long time about potential solutions to this scalability problem. Two approaches were preferred. The first was to lighten the blocks by managing some information differently. This is the case of the Segregated Witness (SegWit) mechanism proposed by Pieter Wuille, which, while remaining compatible with the current system, manages some of the data outside the blocks.
The second, most obvious, was simply to increase the size of the blocks. If 2 MB blocks are accepted instead of 1 MB, the network would be able to handle twice as many operations per unit of time. And now the arrival of Bitcoin Cash is quite well adopted in the Bitcoin community.
Bitcoin Cash is nothing more than a new branch of the Bitcoin network, which, even if it integrates all the history of classic bitcoins, is non-retro-compatible. It addresses the problem of scalability by passing the size of the blocks to 8 MB. From there, two different currencies were born: the classic bitcoin (which will use SegWit) and Bitcoin Cash with its expanded blocks.
Bitbns allows you to easily buy Bitcoin, Bitcoin Cash and many more cryptocurrencies. Bitbns undoubtedly is gaining its foot in the Indian cryptocurrency marketplace. Bitbns team is focused and thriving towards innovative and disruptive business models concerning cryptocurrency and blockchain technologies.