April 7, 2020

How to buy Bitcoin Cash (BCH)

BCH

Bitcoin is the most famous cryptocurrency today, but it is not perfect. In May 2017, the issue of its scalability was widely discussed. Transaction speed was low, and transaction costs became expensive – Bitcoin users paid about $30 per transaction.

As a result, Bitcoin Cash appeared in the same year, which separated from Bitcoin. The measure was taken to improve the efficiency of the Bitcoin chain and solve the problem with the scalability of BTC. The goal of the developers was to create a coin with large block size.

After the launch, the token quickly entered the market and took fourth place by market capitalization among other cryptocurrencies. How can you buy Bitcoin Cash (BCH)?

First, you will need a wallet to store Bitcoin Cash (the hardware wallets such as Ledger and TREZOR). You can also use software wallets to store tokens. For example, Exodus, Edge, Electron Cash and others, which can be found on the official website of Bitcoin Cash.

Exodus Wallet provides an excellent user experience thanks to its built-in coin exchange service known as Shapeshift. Edge is a mobile wallet for iOS and Android, which supports several cryptocurrencies, including Bitcoin Cash. It also has many features that allow you to buy cryptocurrencies and exchange them. Electron Cash is an Electrum wallet clone.

Then you should register on one of the exchanges that support BCH trading.

How can you buy Bitcoin Cash (BCH) through Coinmama?

Coinmama, one of the first currency exchanges in the world, allows you to buy Bitcoin Cash for cash using credit and debit cards, as well as through SEPA transfer. Coinmama accepts users from almost every country in the world. To purchase BCH, you must register your account, pass KYC verification and make a deposit. This information is also valid for other exchanges. 

How can you buy Bitcoin Cash (BCH) through CEX.io?

CEX.IO Exchange has a good reputation in the industry since 2013. On their website, you will be able to trade with a variety of cryptocurrencies, including Bitcoin Cash. The Exchange offers brokerage services (they are easier to use but more expensive) and trading platform (it is cheaper but more complex). CEX accepts credit and debit cards, bank transfers and SEPA.

How can you buy Bitcoin Cash (BCH) through Coinbase?

Coinbase is an authoritative bitcoin exchange service that provides many other features, including a wallet, Coinbase Pro trading platform and Bitcoin Cash token debit card.

Buy Bitcoin Cash

How can you buy Bitcoin Cash (BCH) through Bitstamp? 

Bitstamp supports BCH trading and direct buying in USD or EUR. It is also possible to buy tokens for cash at a higher price.

How can you buy Bitcoin Cash (BCH) through eToro?

eToro allows you to buy BCH by various payment methods. The platform does not provide actual access to coins, and you cannot send coins from eToro to other people. The only thing you can do is buy and sell Bitcoin Cash for currency.

If you decide to use eToro services, you will not need a Bitcoin Cash wallet as the platform does not provide real coins.

How to sell Bitcoin Cash (BCH)

Since Bitcoin Cash is a relatively new cryptocurrency, there is a very limited number of major international exchanges that support its sale for paper currencies. So, how can you sell Bitcoin Cash (BCH) for currency?

Currently, there are three main exchanges where you can sell Bitcoin Cash for currency: Coinbase, Kraken and CEX. Coinbase allows you to sell only for USD. Kraken also supports EUR. CEX.io supports USD, EUR and GBP.

Most exchanges allow withdrawals via bank wire transfer, SEPA SWIFT and some other options. Besides, Cex.io allows you to withdraw funds directly to VISA or MasterCard in USD, EUR or RUB.

If you want to exchange BCH for cash, you will need to tie your bank account to the exchange and go through a lengthy identity verification process. Withdrawals are also subject to interest.

Also, exchanges usually set daily and monthly withdrawal limits, but fully verified users or corporate accounts can bypass them.

 How to sell BCH

How can you sell Bitcoin Cash (BCH) instantly?

If you are not a fan of exchanges, you can take advantage of platforms that offer instant exchange between multiple cryptocurrencies. For example, Changelly and ShapeShift.

How can you sell Bitcoin Cash (BCH) through the exchange?

You can also exchange Bitcoin Cash tokens for other cryptocurrencies. Such global exchanges as Poloniex and Bittrex allow users to exchange Bitcoin Cash for Bitcoin, Ethereum, Tether.

How can you sell Bitcoin Cash (BCH) directly to another person?

If you want to avoid all the hassle associated with trading and withdrawing funds from the exchange, you can sell Bitcoin Cash directly to another person. There is a service called LocalBitcoinCash, which facilitates direct transactions between users. All you have to do is just publish an offer or respond to an existing offer. With the platform, you can contact people directly for offline transactions. Note that it’s not yet known if LocalBitcoinCash is a reliable platform.

Remember, cryptocurrencies are not suitable for all investors. Cryptocurrency trading is not controlled by any regulatory framework in many countries.