Bitcoin Cash (BCH) is a peer-to-peer cryptocurrency created on August 1, 2017, following a split from Bitcoin. The fork followed a long-running disagreement over how Bitcoin should scale, with Bitcoin Cash taking an approach focused on processing more transactions directly on the blockchain through increased block capacity.
BCH retains many of Bitcoin’s fundamental characteristics. It is decentralised, uses Proof-of-Work to secure its network and has a maximum supply of approximately 21 million coins. However, its focus on greater on-chain capacity was intended to help Bitcoin Cash function as practical electronic cash, with inexpensive peer-to-peer transactions remaining a central part of its design.
Those characteristics also made BCH a natural fit for crypto betting. Bettors can transfer funds directly between their own wallet and a supporting sportsbook, while relatively inexpensive transactions make it practical for both deposits and withdrawals.
Bitcoin Cash also established an early connection with crypto sports betting. Cloudbet, which had operated as a Bitcoin sportsbook since 2013, introduced BCH in April 2018 as the first alternative cryptocurrency supported by its platform. Players were able to deposit, bet and withdraw directly in Bitcoin Cash rather than having BCH deposits converted into Bitcoin.
That gave BCH a presence in crypto sports betting less than a year after the currency itself was created. Today, Bitcoin Cash no longer has the same profile as Bitcoin or the major stablecoins, but its combination of low-cost transactions and a long history within crypto gambling means it remains a relevant payment option at supporting sportsbooks.
