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Investing in Bitcoin, Bitcoin Cash, and Bitcoin Gold

Ontario Securities Commission Focuses on Digital Currencies for 2019

For investors, there has never been more choice between different asset classes within digital currencies and coin offerings.

With this choice comes complexity, but with some high level knowledge, and considering your own risk tolerance, it’s easier to make an investment decision when looking at currencies like Bitcoin, Bitcoin Cash, and Bitcoin Gold.

We cover the more technical origins of the three coins called Bitcoin in “Bitcoin, Bitcoin Cash and Bitcoin Gold, But Why?” and this article will focus on the pros and cons of investing in each separate type of Bitcoin.

Investing in Bitcoin (BTC)

Bitcoin (BTC) is the most well known, and the market-leading digital currency. It has the highest value at over $9,000 CAD per coin and enjoys the greatest reputation amongst its digital currency competitors.

If you are looking to invest, you can buy and trade Bitcoin on a digital currency exchange in Canada, much like a traditional stock exchange. Bitcoin can be bought, and exchanged for CAD and USD.

Bitcoin’s history and decentralised identity means it’s influenced by its owners, of which there are now millions. In this respect, Bitcoin has some protection. The influence of millions of shareholders should protect this coin from anything too drastic.

However, Bitcoin could slump, or the bubble could burst, and you could be buying at the peak of a bull market.

Investing in Bitcoin Cash (BCH)

In-fighting in the digital currency communities around development processes and speed led Bitcoin to fork, breaking the blockchain in two and creating a new currency in the process.

This process led to Bitcoin Cash (BCH), created to make transaction processing speeds faster and the currency more scalable, after concerns that Bitcoin (BTC) wouldn’t be able to cope with demand.

Bitcoin Cash (BCH) hit the market in August 2017, and a single Bitcoin Cash today is worth $816 CAD. The value was at a low of $391 CAD in early October, however Bitcoin Cash is now climbing back.

However, there are developers involved in Bitcoin that don’t believe Bitcoin Cash (BCH) is the answer. They are working on an update called Segwit2x, which was suspended indefinitely as of yesterday.

Still, the speculation among the digital currency community is which coin will become most successful. Though neither are likely to lose value entirely, one of them may eventually lead the digital currency market if a certain coin becomes accepted as a worldwide payment method.

Investing in Bitcoin Gold (BTG)

Where Bitcoin Cash was created to answer the scalability issue of Bitcoin, Bitcoin Gold (BTG) was launched to inhibit large scale mining pools from gaining too much influence over the currency. Bitcoin Gold may or may not adopt Segwit2x technology.

Unfortunately for investors, though, Bitcoin Gold is very difficult to trade at the time of publishing and hasn’t been adopted by some exchanges and wallets. 

What’s an investor to do?

It’s not an easy investment decision.

It’s quite difficult to invest in Bitcoin Gold (BTG), which has some people calling it a scam. Bitcoin Cash (BCH) could be overtaken by a powerful Bitcoin with Segwit2x (BCX), if indeed it launches. It’s also possible that Segwit2x could be applied to Bitcoin (BTC), which will could lead it to continue its gargantuan climb.

Knowing each currency is a great first step, but to make an educated investment decision, be sure to delve more into market conditions, your portfolio, and the people behind these coins.


Image credit: pxhere


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