Did you know that Bitcoin Cash is a spinoff of bitcoin created in 2017? Many crypto investors favor the altcoin for its fast transaction times.
It’s important to know where to find the price of Bitcoin Cash and other altcoins so that you know when to invest. Do you want to track the current Bitcoin Cash price but don’t know where to start?
The following guide will explain exactly how to find the price for Bitcoin Cash and other cryptocurrencies.
Understanding Market Cap
Market capitalization is an indicator used to measure and record the market value of different cryptocurrencies. So, it’s a way of determining the actual value a cryptocurrency has.
Bitcoin is currently the biggest cryptocurrency that exists as far as the market cap goes. Ethereum comes in second place for cryptocurrencies when looking at market cap.
Currently, the worldwide cryptocurrency market cap is almost $10 trillion less than the market cap of Gold. Many believe this means that Bitcoin and other cryptos have a lot of room to grow and become bigger assets.
Calculating Market Cap
You can calculate the market cap of any cryptocurrency by multiplying its circulating supply by its current market price. For example, if BTC’s supply was 19,000,000 while its price was $22,000, the market cap would be $418,000,000.
Many Bitcoin investors expect the price of Bitcoin to reach $500,000 in the future. But the market cap of BTC will need to be around $9,000,000,000,000 for that to happen.
As of this writing, Bitcoin Cash has a market cap of $2,340,871,910.
Calculating Bitcoin Cash Price
You can calculate the Bitcoin Cash price or any other cryptocurrency by dividing its market cap by the circulating supply.
Let’s say a coin’s market cap is around $200,000,000,000 and its circulating supply is around 116,000,000. The price of the coin for that example would be about $1,724.
Always remember that the cryptocurrency market is extremely volatile and prices and market caps change frequently. If you use an app to track prices, make sure it’s reliable and that prices get updated often.
How to Buy Bitcoin Cash
First, select a trustworthy cryptocurrency exchange because you can’t buy Bitcoin Cash through a standard brokerage. Then you’ll need to fund your account by transferring money from your bank account to the exchange you choose.
Follow the price of Bitcoin Cash and prepare to place an order when the time is right for you. You can use USD or other cryptos to buy Bitcoin Cash and you can buy fractional shares instead of whole coins.
You can store your Bitcoin Cash straight in your chosen exchange, but crypto wallets provide added security. Consider using a wallet for larger amounts of cryptocurrencies to help protect your investments.
Ready to Track Bitcoin Cash?
Now you know how to find the market cap and price of Bitcoin Cash. You also know how to buy Bitcoin Cash and other cryptos once the price is where you feel comfortable investing.
Be sure to check out our finance section for more helpful tips to grow your crypto portfolio.