Tim Draper has praised Bitcoin cash [BCH] after recently purchasing the coin. Lauding the convenience of use and buying it. Draper’s endorsement comes after the Bitcoin Cash [BCH] community braces for a fork instigated by Bitcoin ABC’s IFP [Infrastructure Funding Proposal].
Although Draper’s tweet doesn’t offer specific reasons for the praise, it might appear his comments are made within the context of the high network fees & slow confirmations time presently plaguing other networks.
So far, bitcoin cash [BCH] seems to be unaffected by the present challenges being faced by the Bitcoin [BTC] and Ethereum [ETH] networks – the unsustainably high transaction fees as well as slower confirmation times.
It is precisely these attributes that appear to be propelling the increased use of BCH in cryptocurrency-friendly nations like Nigeria. BCH fees still remain less than $0.01 USD at the time of reporting when bitcoin and ether both charge above $8 USD for the same value of the transaction.
It is for this reason that some cryptocurrency platforms like Yellow Card, an exchange platform employed by Nigerians for converting cryptocurrency bitcoin to native currency, says it’s actively looking into adding BCH.
Cryptocurrencies are gaining traction within the international remittances space as they are far cheaper & faster than the traditional sending channels. However, at the reporting time, the present high transaction fees and slower confirmation speeds are hurting the appeal of virtual assets like bitcoin and ether.
African cryptocurrency users have shown a passion for digital assets that bring real advantages over conventional assets & so far from now, BCH is a cryptocurrency that appears to be doing just that.