Transactions are cheaper and faster with Bitcoin Cash than Bitcoin

From a user's perspective, I would want cheaper transaction costs if I were to use a cryptocurrency to buy a good or a service or even maybe another cryptocurrency. 

I would also want that transaction to be approved quickly. 

If we compare Bitcoin (BTC) with Bitcoin Cash (BCH), here is what we see:

TRANSACTION FEES OF BITCOIN AND BITCOIN CASH COMPARED

Transaction Fees of Bitcoin and Bitcoin Cash Compared (Source: fork.lol)
Transaction Fees of Bitcoin and Bitcoin Cash Compared (Source: fork.lol)

 

BCH: 51.87 Satoshis

BTC: 229.28 Satoshis. 

This means that with Bitcoin Cash my transaction costs are only 22% what it would be if I used Bitcoin. This means I save 78%. 

 

CURRENT UNCONFIRMED TRANSACTIONS ON THE BITCOIN NETWORK

Current Unconfirmed Transactions on the Bitcoin Network (Source: Blockchain.info)
Current Unconfirmed Transactions on the Bitcoin Network (Source: Blockchain.info)

In May, transactions were stuck for days. Now, a lot of of people are just as frustrated because the network is getting congested. 

When I try and look for Unconfirmed Transactions on the Bitcoin Cash Network, most sources say there is none. This is the problem that Bitcoin Cash wanted to solve. Bitcoin had 1MB blocks, which meant it got congested too quickly. By having 8MB blocks, Bitcoin Cash can handle more transactions.

This means that for the person I am transferring the coins to and I, will be happier. There is less transactions that neither of us would have to pay and we can finish the transaction quicker!

This is the beauty of market competition. Now that there are two types of Bitcoins the original BTC, sometimes referred to as Bitcoin Core, and now, Bitcoin Cash (BCH or BCC), people can choose between the two which cryptocurrencies they should use. For merchants, businesses and service providers, they now have an option to use a faster, less costly alternative as well. 

The Bitcoin Cash ecosystem is still young, which means there maybe less businesses, wallets, exchanges using it but it is being adopted rather quickly considering that Bitcoin Cash was only forked out of Bitcoin on the 1st of August.