cryptocurrencies

Difference Between Bitcoin and Bitcoin Cash

Robert M. Ryerson, a Certified Financial Planner (CFP) with more than 25 years of experience, started Crypto Currency Consultants, LLC, in 2018. Financial experts like Robert M. Ryerson can help people navigate the challenges of investing in new assets like cryptocurrency.

cryptocurrenciesIn 2017, Bitcoin split into traditional Bitcoin and Bitcoin Cash. While both Bitcoin and Bitcoin Cash are cryptocurrencies and use the same code to operate, Bitcoin Cash changed the size of the blocks used on the platform. This enables the blockchain to process millions of transactions per day, increasing its usability as a solution for day-to-day payments like cups of coffee and groceries.

 

Bitcoin and Bitcoin Cash each have their own advantages. Bitcoin Cash charges smaller processing fees for payments, due to the relative ease of processing. Bitcoin, however, has greater stability due to many mining pools, compared to just a handful of pools on Bitcoin Cash. However, Bitcoin Cash has made some technological adjustments to reduce the risk involved in a more centralized cryptocurrency.

Author

Robert Ryerson

Although Robert M. Ryerson completed all the necessary requirements to earn bachelor of arts degrees in both English and economics at Rutgers University, college policy at the time prohibited the issuance of dual degrees. As a result, he graduated from Rutgers with a single bachelor of arts in economics before finding employment as a stockbroker with Shearson Lehman Brothers in New York City. Robert M. Ryerson has since established himself as a respected estate administrator and legacy planner. In addition to his degree from Rutgers, Mr. Ryerson holds professional designations as both a Certified Financial Planner professional and a Certified Identity Theft Risk Management Specialist. He has shared his knowledge on the subject of identity theft as the author of the book What’s The Deal With Identity Theft?: A Plain-English Look at Our Fastest Growing Crime. He has also covered identity theft issues directly for students as the instructor of the adult education course Understanding Identity Theft: Our Fastest Growing Crime.

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