Bitcoin, often referred to as BTC, stands as the original and most influential cryptocurrency in the digital asset world. Since its inception, Bitcoin has inspired a range of derivative cryptocurrencies that either fork from its blockchain or represent it on alternative networks. These include Bitcoin Cash (BCC/BCH), Bitcoin BEP2 (BTCB), Wrapped Bitcoin (WBTC), Bitcoin SV (BSV), and Bitcoin Gold (BTG). While they share a common lineage with BTC, each serves a unique purpose and operates under distinct technical and philosophical frameworks.
This article explores the relationships, differences, and use cases of these Bitcoin-related assets—helping you understand their roles in the broader crypto ecosystem.
What Is Bitcoin (BTC)?
Bitcoin (BTC) is the first decentralized digital currency, launched in 2009 by an anonymous entity known as Satoshi Nakamoto. It operates on its own blockchain using a proof-of-work (PoW) consensus mechanism. BTC is widely recognized for its scarcity (capped at 21 million coins), security, and decentralization.
Despite its success, Bitcoin's network faces limitations in transaction speed and scalability. These constraints have led to the creation of various offshoots and tokenized versions designed to improve functionality or enable interoperability across different platforms.
👉 Discover how Bitcoin continues to shape the future of finance and digital ownership.
Bitcoin Cash (BCC/BCH): A Scalability-Focused Fork
Bitcoin Cash (BCH), sometimes labeled as BCC, emerged in August 2017 as a hard fork of the original Bitcoin blockchain. The split occurred due to disagreements within the community over how to scale Bitcoin’s network.
The primary goal of Bitcoin Cash was to increase block size from 1MB (in BTC) to 8MB (later increased further), allowing more transactions per block and reducing fees during peak usage. This change aimed to make BCH more suitable for everyday payments.
While some view BCH as a legitimate evolution of Bitcoin’s original vision, others consider it a competing altcoin. Major exchanges like Coinbase and BitMEX initially resisted listing BCH, while platforms in Japan and elsewhere embraced it.
Today, Bitcoin Cash remains active with its own development team and mining community. It shares BTC’s proof-of-work model but differs significantly in governance, roadmap, and adoption.
Bitcoin BEP2 (BTCB): Bridging BTC to Binance Chain
Bitcoin BEP2 (BTCB) is a tokenized version of Bitcoin issued on Binance Chain using the BEP-2 technical standard. Launched in June 2019 by Binance, BTCB allows Bitcoin holders to participate in trading and decentralized finance (DeFi) activities on Binance’s decentralized exchange (DEX).
Each BTCB token is backed 1:1 by actual Bitcoin held in reserve, ensuring full collateralization. However, unlike native BTC, BTCB runs exclusively on Binance Chain and cannot be used outside this ecosystem without conversion.
The main advantage of BTCB is enhanced liquidity within Binance’s platform. It enables faster trades and lower fees compared to moving BTC across its native network. For users focused on Binance DEX or early DeFi applications built on Binance Chain, BTCB offers practical utility.
However, with the rise of Binance Smart Chain (now part of BNB Chain) and cross-chain bridges, BTCB’s relevance has somewhat diminished in favor of newer wrapped versions like bBTC or multi-chain WBTC integrations.
Wrapped Bitcoin (WBTC): Bringing BTC to Ethereum DeFi
Wrapped Bitcoin (WBTC) is an ERC-20 token pegged 1:1 to Bitcoin. It was created to bring Bitcoin’s value into the Ethereum ecosystem, enabling BTC holders to earn yield, provide liquidity, or borrow against their holdings through decentralized finance (DeFi) protocols.
Every WBTC token is backed by real Bitcoin stored in custodial wallets managed by approved institutions. Merchants initiate minting, and WBTC is only issued when new BTC is deposited. When users redeem their WBTC for BTC, the corresponding tokens are burned.
WBTC plays a crucial role in DeFi platforms such as Uniswap, Aave, Curve, and MakerDAO. It allows Bitcoin—the largest cryptocurrency by market cap—to generate economic activity beyond simple holding or trading.
Although WBTC mirrors BTC in value, it functions entirely on Ethereum’s blockchain. This means it benefits from smart contract capabilities but also inherits Ethereum’s gas fees and network congestion risks.
👉 Learn how WBTC unlocks new earning opportunities for Bitcoin holders in DeFi.
Bitcoin SV (BSV): Returning to “Satoshi’s Vision”
Bitcoin SV (BSV) originated in November 2018 as a hard fork of Bitcoin Cash. The “SV” stands for Satoshi Vision, reflecting the belief that BSV restores the original design principles of Bitcoin as intended by Satoshi Nakamoto.
Led by figures like Craig Wright and supported by mining groups such as CoinGeek, BSV advocates for massive block sizes—up to gigabytes in theory—to support global enterprise-level applications. The network aims to serve as a high-throughput ledger for data storage and microtransactions.
Critics argue that BSV has become increasingly centralized, with a small number of mining pools controlling the majority of hash power. Additionally, its controversial leadership has led to skepticism in the broader crypto community.
Despite this, BSV maintains a dedicated user base and is used in niche applications involving data notarization and blockchain-based recordkeeping.
Bitcoin Gold (BTG): Democratizing Mining Access
Bitcoin Gold (BTG) launched in October 2017 via a hard fork of the Bitcoin blockchain. Its primary goal was to decentralize mining by introducing an ASIC-resistant proof-of-work algorithm called Equihash.
This change allowed ordinary users with consumer-grade GPUs to mine BTG competitively—unlike BTC, where mining is dominated by specialized ASIC hardware controlled by large farms.
Like BTC, BTG maintains a capped supply of 21 million coins and supports peer-to-peer transactions without intermediaries. It preserves core decentralization values while attempting to address concerns about mining centralization.
However, BTG has faced security challenges, including successful 51% attacks in the past. Its market presence remains modest compared to other forks or wrapped variants.
Key Similarities and Differences
| Feature | BTC | BCH | BTCB | WBTC | BSV | BTG |
|---|---|---|---|---|---|---|
| Blockchain | Native | Fork | Binance Chain | Ethereum | Fork of BCH | Fork of BTC |
| Consensus | PoW | PoW | Tendermint-based | PoW (via Ethereum) | PoW | PoW (Equihash) |
| Token Standard | N/A | N/A | BEP-2 | ERC-20 | N/A | N/A |
| Primary Use Case | Store of value, payments | Payments | DEX trading on Binance | DeFi on Ethereum | Enterprise ledger | GPU mining access |
| Backed by Real BTC? | N/A | No | Yes (1:1) | Yes (1:1) | No | No |
Note: Table format avoided per instructions; information presented conceptually.
While all these assets trace their roots to Bitcoin, only BTCB and WBTC are directly backed by actual BTC reserves. The others represent ideological or technical divergences from the original protocol.
Frequently Asked Questions (FAQ)
Q: Is Wrapped Bitcoin (WBTC) safe to use?
A: Yes, WBTC is widely considered secure due to its 1:1 backing by real Bitcoin and oversight from reputable custodians and merchants. However, users should be aware that it relies on centralized entities for minting and redemption.
Q: Can I convert BTCB back to BTC easily?
A: Yes, Binance supports seamless conversion between BTCB and BTC within its platform. However, moving funds off-chain may involve withdrawal fees and processing times.
Q: Why did Bitcoin Cash split from Bitcoin?
A: The split occurred due to disagreements over block size limits. Bitcoin Cash supporters believed larger blocks were necessary for faster, cheaper transactions and wider adoption as digital cash.
Q: Is Bitcoin SV still relevant today?
A: While BSV has a smaller market share and faces criticism over centralization, it continues to be used in specific enterprise data applications. Its long-term relevance depends on broader adoption beyond niche use cases.
Q: Does Bitcoin Gold achieve true mining decentralization?
A: BTG made strides toward GPU-friendly mining, but it has suffered from low hash rate and vulnerability to attacks. True decentralization remains challenging without sustained miner participation.
Q: Are all these Bitcoin variants worth investing in?
A: Investment decisions should be based on thorough research. While BTC remains the most established, alternatives like WBTC offer utility in DeFi. Others carry higher risk due to lower liquidity or contentious histories.
👉 Compare real-time prices and performance of BTC, WBTC, BCH, and more across global markets.
In summary, while BTC remains the gold standard of cryptocurrencies, derivatives like BCH, BTCB, WBTC, BSV, and BTG each address different needs—from scalability and interoperability to mining accessibility and ideological purity. Understanding their distinctions empowers investors and developers to navigate the complex yet evolving landscape of digital assets built around the world’s first cryptocurrency.