Australia Continues to Warm up to Bitcoin Cash in Some Segments

Fintoism Bitcoin Cash price hashrate

Conflicting reports are nothing new in the cryptocurrency industry. One type of research can favor  a specific ecosystem, whereas other information contradicts this entirely.  Where Bitcoin Cash is concerned, there will always be different opinions on the success of this altcoin.

The BitcoinBCH Findings

A site dedicated to Bitcoin Cash may often see things in a different light compared to others. It is certainly true that Australia can become a very prominent region for cryptocurrency use. So much even that multiple currencies can co-exist without directly competing with one another. It is crucial for this industry to see multiple ventures succeed. 

The November 2019 report for Australia shows a lot of growth where BCH is concerned. Retail sue of this altcoin keeps increasing, which is a positive sign. The rise of BCH in Australia is driven by multiple developments, including more Meetups, events, conferences, and a genuine push to convert merchants. Especially this latter venture has gone rather well in recent months, and the results confirm the overall growth.

The overall growth in Bitcoin Cash usage cannot be ignored. It is the most commonly used cryptocurrency payment method in Australia, among retailers. BCH is well ahead of Bitcoin, Bitcoin SV, Binance Coin, and Litecoin. Do keep in mind the overall spending of all currencies adds up to AU$55,000. That figure is far from impressive, but one has to start somewhere. 

As far as the overall transactions are concerned, Bitcoin Cash is firmly in the lead as well. The statistics confirm BCH represents 73% of all transactions. The Lightning Network, Bitcoin, and Bitcoin SV combine for another 90 transactions. Litecoin remains the weakest link in this department as well.

Overall, this growth shows there is a bright future ahead of BCH in Australia. As more merchants accept this payment method, it will become even easier to spend cryptocurrency. It also appears there are some BCH-related projects and venture sin the works to ensure this growth is sustainable. 

Living Room of Satoshi Statistics

Retail payments are one way of measuring the adoption of specific cryptocurrencies. Another way to gauge the overall growth is by looking at different service providers. Living Room of Satoshi has allowed Australians to pay their bill in various cryptocurrencies for several years now. Its statistics tell a completely different as far as BCH is concerned. 

Over the past 30 days, 61.4% of all bills paid through LRoS have been paid in Bitcoin. Ether comes in second place with 11.5%, followed by Litecoin with 7.4%. Bitcoin Cash is seventh place, as it represents 2.0% of all bill payments. These figures are very different from the retail cryptocurrency payments report, but that is not necessarily unusual. 

Conclusion

Whether one likes or hates Bitcoin Cash, the currency continues to gain traction in Australia. That is a good sign, as consumers and merchants need alternatives to achieve financial freedom. It will always be difficult for currencies to compete with the real Bitcoin, but BCH is noting small successes in its own regard

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