I just bought my first cryptocurrency and it is BCH not BTC. (and now I am really looking for advice and clearance)

hey there, I really really really just bought bitcoin cash right now from app called bitcoin wallet (the scanned logo one) I guess people refer it as bitcoin.com. I bought it after a couple of days lurking from this subs. and this is the first time I bought cryptocurrency.

I bought it for the reason of I THINK because it's still cheap so it's good for me to save my money in BCH.

things I want to get clear of for the next time and I am so grateful to hear any advice to me are:

  1. so the transaction was very fast, it does not takes until 1 hours to get the BCH into my wallet. is that reason why BCH is good? but I never bought BTC before so I don't know how long it takes to transaction in BTC, I just thought of the blockchain in BCH is bigger that's why it is fast so this must be one of the benefit right?
  2. how is the wallet on this app works? I learn crypto from r/BitcoinBeginners . the sub suggest me to have software called electrum but I don't see electrum support bitcoin cash. also is the seed phrase (12 letters readable words) is enough for me to login in any devices I want later just in case I change my phone etc? I write it on paper. is that really enough to secure my money? can I login with same phrase to any of crypto wallet? they say wallet is attach at blockchain right? so can I use my seed to login to anywhere (I never tried but I just wonder). the backup functionality on this app (bitcoin.com) is not working, it is cannot be saved anywhere in phone's memory (it always failed to save or even send the backup file to whatsapp) what can I do to backup my account? is email and seed enough?
  3. how to see the chart? sometime the value of BTC or BTH is red or green. which one is good to buy or sell? any cool tips / tricks on how to interpret chart? (not necessarily for buy and sell only)
  4. I don't have enough money to buy hardware wallet. is that okay for me to save everything just using the app wallet? (I know many people don't agree with this) but the app integrates with my email address so I can login with my email address anywhere right as long as I use this app?
  5. it bitcoin core same as bitcoin? the people here sometime trashing bitcoin sometime bitcoin core. they have different logo one with black color one with orange color
  6. before I buy BCH on bitcoin wallet, I register 2 bitcoin transaction LUNO and COINBASE. coinbase does not support my country, however LUNO on the other hand support my country but until now they haven't even finish reviewing my account. how can such a bitcoin wallet does not need to identify me to buy something? why those 2 apps I previously installed need and takes so much time to allow me to do transaction?
  7. if I buy BCH like I am right now, is there any reason why I should also buy BTC too? or it just better for me to continue saving my money buying BCH?
  8. and last, people says no transaction fee using BCH, what does that mean? I just bought it and it takes my money more than the value I buy when buying it. ex: I wanna buy $100, it takes me about $103 dollar for the app to let me buy it (I don't use dollar btw this is just example).

Any hardcore advice such "You damn stupidly wrong, do like this instead ..." is really appreciated. If I did something wrong or I miss any step to get started please let me know. because all I do is really is just that all and nothing else until now.

submitted by /u/krehwell to r/btc
[link] [comments]
Quelle: bitcoin-en