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How To Buy Bitcoin Cash (BCH)

What is Bitcoin Cash (BCH), & why it became so popular recently? Everything you need to know about Bitcoin Cash (BCH). Find how exactly do you buy Bitcoin Cash (BCH). Learn about the several ways to buy Bitcoin Cash (BCH) in details in this review.

Author: Edith Reads Last updated: 05/10/2021

Introduction

We answer all these questions in this Bitcoin Cash guide. Here, we will be telling you where, why, and how to buy Bitcoin cash and introducing you to all the popular exchanges that allow you to invest in Bitcoin cash. We will also tell you about the different payment methods you can use to buy Bitcoin Cash globally and how to buy Bitcoin Cash anonymously, as well as the pros and cons of buying Bitcoin cash.

So What’s the difference between Bitcoin, and Bitcoin Cash?

Bitcoin Cash (BCH) is a splinter cryptocurrency, hived off Bitcoin, and one of the most popular forks of the pioneer digital currency. It launched on 1st August 2017 after breaking away from Bitcoin at Block 478558. However, Bitcoin Cash would be subjected to yet another split in November 2018 (15 months later) to create Bitcoin cash ABC (what is now known as Bitcoin Cash) and the newer Bitcoin Cash SV (Satoshi Version).

In the close to four years that Bitcoin Cash has been around, it has become a crypto community favorite. And this has helped it grow its value and maintain a top position among the ten largest cryptocurrencies – ranked by market capitalization.

Due to this popularity, Bitcoin Cash is now listed on virtually all popular crypto exchanges across the world. It is also a trader-favorite in the crypto derivative markets, especially among the CFD traders on popular crypto brokerages.

How to buy Bitcoin Cash in the UK? How do the different ways to buy Bitcoin Cash Australia work? Who can invest in Bitcoin Cash? Importantly, what do you need to start investing in Bitcoin Cash?

Top six platforms where you can buy Bitcoin Cash

  • Min Deposit: $200
  • Number of Coins: 20+
  • Supports Multiple Languages
  • Regulated by FCA, ASIC & CySEC
  • Paypal, Debit & Credit Card Accepted
BankCard CashGiro PayMastercardNetellerPayPalSkrillUnionPayVisaWire CardYandex
Visit eToro

Capital At Risk

  • Min Deposit: 20 $£€
  • Number of Coins: 12+
  • Regulated by FCA & CySEC
  • Place Buy & Sell CFDs Orders
  • Low Minimum Deposit
MastercardNetellerPayPalSkrillUnionPayVisaWire Card
Visit Capital.com

78.77% of retail cfd accounts lose money

  • Min Deposit: 1 $£€
  • Number of Coins: 50+
  • Regulated by SEC, & FinCEN
  • Place Buy & Sell CFDs Orders
  • Low Minimum Deposit
Giro PayMastercardNetellerSkrillUnionPayVisaYandex
Visit Coinbase

Capital At Risk

  • Min Deposit: 1 $£€
  • Number of Coins: 1500+
  • High Number of Coins
  • Accepts Fiat Deposits
  • Trade on Spot and Futures
Card CashMastercardSkrillWire Card
Visit Binance

Capital At Risk

  • Min Deposit: 50 $£€
  • Number of Coins: 9+
  • Free deposits / withdrawals
  • High limits for buying bitcoins with a credit/debit card
  • Service available in many countries
NetellerSkrillUnionPay
Visit Coinmama

Capital At Risk

  • Min Deposit: 1 $£€
  • Number of Coins: 50+
  • Highly transparent exchange
  • Competitive Bitcoin trading fees
  • Highly secure
Card CashGiro PayMastercardUnionPayVisa
Visit Kraken

Capital At Risk

A Three-step Guide to Buying Bitcoin Cash (BCH) Instantly

Step 1:  Create an account:

Start by identifying a reputable cryptocurrency trading platform and register a trader account there. Ideally, this trading platform should be highly reliable and guarantee the safety of your digital assets through safe wallets or insurance (eToro comes highly recommended).

Step 2: Fund account

Most crypto trading platforms require you to deposit funds into your account before you can start trading. They support a wide range of payment methods but options available to you will largely depend on your country of residence and preferred crypto exchange.

The most common deposit methods include Credit/debit cards, Bank transfers, eWallets like Skrill, Neteller, PayPal, Google Pay, and Apple Pay. You can also make direct crypto deposits.

Step 3:  Buy Bitcoin Cash

From their list of supported cryptocurrencies, select Bitcoin Cash and choose BUY. Customize the trade by specifying the amount of cash you want to spend or the amount of BCH you wish to buy. Most exchanges let you buy actual BCH coins while others let you trade BCH CFDs on leverage.

Note: For the deposit to be successful, ensure that the names on the payment method (e.g name on card) must be similar to the names used to create and verify the trading account.

What is Bitcoin Cash (BCH)?

Bitcoin Cash is peer-to-peer electronic cash designed to facilitate cash transactions between and cross-border cash transfers. Launched in 2017, Bitcoin Cash was born off a disagreement about Bitcoin’s future between different factions of Bitcoin miners and developers.

The faction that broke away to create Bitcoin Cash proposed an upgrade to the Bitcoin blockchain code that would increase its transaction processing time and reduce fees. Others (current bitcoin miners and developers) chose to stick with Satoshi Nakamoto’s original plan for Bitcoin. They countered the calls for an upgrade with the proposal to add another layer to the existing Bitcoin code – the Bitcoin Lightning network.(which they eventually did on 24th August 2017).

The disagreement turned into a stalemate in Mid-2017, and the pro-scalability miners and developers decided to break away from the blockchain after block 478558. A move that effectively split the Bitcoin network into two – Bitcoin (BTC) and Bitcoin Cash (BCH).

15 months later, yet another split emerged from within the BCH group when a faction of the breakaways sought to scale the Bitcoin Cash network further. This prompted yet another forking and the creation of Bitcoin Cash ABC (BCH) and Bitcoin Cash SV (BSV).

You may also need to know that Bitcoin Cash was created not to compete with Bitcoin but to provide Bitcoin blockchain users with a faster and affordable alternative.

How is Bitcoin Cash Different From or Similar to Bitcoins?

For starters, understand that both Bitcoin and Bitcoin Cash share the same blockchain and are focused on solving the same problem – the inherent challenges facing fiat currency. Their point of divergence only came after Bitcoin’s popularity and was born of the need to facilitate faster and less expensive transactions. Some of their key differences include:

Block size and block generation time

By design and a security measure, Bitcoin’s block size was originally at 1MB and the block generation time at ten minutes. This worked perfectly in the early days of Bitcoin when the coin was still unknown as it reported minimal activity.

But as Bitcoin’s popularity surged and the number of transactions rocketed, the block generation time and limited block size compromised its efficiency as they caused massive transaction confirmation delays and forced miners to increase verification fees.

Bitcoin Cash sought to solve this by increasing the block size and block generation time. Today, the size of the Bitcoin Cash block rages from 8MB to 32MB, with research on further scalability ongoing. It also improved the transaction processing speed from the 7 transactions per second on the Bitcoin blockchain to about 1500 transactions per second on the Bitcoin Cash network.

Support for SeWit addresses

The Bitcoin Cash proponents were also fundamentally opposed to the incorporation of SegWit technology into the Bitcoin network. They argued that it did not address the speed and scalability issues faced by the blockchain and that it was not in line with Satoshi Nakamoto’s Bitcoin roadmap.

Mining algorithm

The only other significant breakpoint between BTC and BCH appears in the mining difficulty algorithm used. While BCH started using the Difficulty Adjustment Algorithm (DAA) technology used by BTC, they later shifted to the Emergency Difficulty Adjustment (EDA) algorithm.

But most of their other core features are shared and similar.

For instance, they both have their maximum coin supply capped at 21 million units of currency. They both use the proof of work mechanism and share mining companies like Bitmain- the largest BCH and BTC mining company. Additionally, both cryptocurrencies are hosted on a highly decentralized, permissionless, and trustless blockchain technology.

Now that we understand what Bitcoin Cash is and its relationship with Bitcoin, let us turn to its price history.

Bitcoin Cash Historical Price Performance

When Bitcoin Cash launched, it faced a lot of pushback from the crypto community, with some exchanges – like Coinbase – refusing to list it on their platform.

But when they did, it posted a listing price of$440, and the Coinmarkertcap records 24th July 2017 as its first day of trading.

Incidentally, Bitcoin Cash launched at a time when the crypto market was building momentum and ready to explode. Bitcoin Cash was one of the chief beneficiaries of this crypto market run as its prices peaked on 23rd December 2017 and set the current all-time high price of $4,355.

But the new crypto found it hard to maintain this enviable price level, especially after the November 2018 bitcoin fork that created BCH and BSV. Less than a month after the split – 15th December 2018 – Bitcoin Cash prices had plummeted by more than 587% to close the day trading at around $75.03.

Between 2019 and 2020, the digital currency was looped into a cyclic price range with support and resistance levels of $150 and $500, respectively. And while the early 2021 crypto market run has helped the digital currency escape the loop and punch above $1000, it still couldn’t sustain this price level.

Bitcoin Cash Now

Today, the Bitcoin fork is trading at around $800 and is ranked position 12th on the Coinmarketcap’s list of largest cryptocurrencies. It has a live market cap of $14.43 Billion and a circulating supply of 18.75 Million BCH coins.

Moving forward, crypto analysts and BCH investors expect the coin prices to rise and probably set a new ATH within the next five years. And they are counting on massive adoption by merchants and bullish crypto community sentiments towards BCH to help them reach and sustain this new price level.

What Factors Influence Bitcoin Cash Prices?

How to Invest in Bitcoin Cash (BCH)

Just as there are multiple investment strategies in the traditional investment market setting, there also are multiple ways in which you can invest Bitcoin in Cash. These include

Buy and Hold (Holding)

The buy-and-hold investment strategy involves buying Bitcoin Cash tokens and holding on to them for an extended period of time – typically years. For instance, you are practically buying and holding if you add Bitcoin Cash investment into your retirement portfolio or use it to future-proof your child’s finances.

Hodlers are confident that Bitcoin Cash will be way more valuable in the future and will, therefore, not be worried or tempted to sell even in the face of market volatilities. Regardless of how far down the coin prices fall, they believe it will always recover.

Buy Bitcoin Cash (BCH) CFDs

Not all crypto exchanges sell you actual Bitcoin Cash coins. Some brokerages like eToro and Capital.com let you bet on the price direction of Bitcoin Cash through contracts for difference (CFDs). The upside to this is that, unlike exchanges that sell actual coins, brokerages allow you to enter into trades with significantly low capital. They also let you buy and short BCH and will even let you trade on margin.

Day Trading Bitcoin Cash (BCH)

Day trading is as rewarding as it is risky. It involves buying Bitcoin cash, holding it for the shortest time possible, and disposing of it as soon as it turns profitable or starts making a loss. The strategy means that you should not have any trades open by the end of the day and is as popular within the traditional stock markets as it is in the crypto world.

The extended wait time for transaction processing and often high fees, however, make it impractical for most individuals to day trade actual Bitcoin Cash coins. And this has seen most day traders turn to Bitcoin Cash CFDs.

Position trading

Bitcoin Cash position traders buy the digital asset and hold on to it for weeks or months, waiting to sell it at the highest price. It involves holding on to your BCH purchase for longer than a day or swing trader but for a shorter period than a hodler.

Simply put, position trading involves buying Bitcoin Cash at the dip, following its uptrend (without being disrupted by short-term volatilities), and selling it at its peak – probably after months and oftentimes beyond one year.

How To Buy Bitcoin Cash (BCH) Guide

You now know what Bitcoin cash is and the steps you need to take when buying some, but how do you pay for them? Different exchanges and brokerages accept different payment methods. Here are the most common.

How to Buy Bitcoin Cash (BCH) with eWallets (Skrill, Neteller)

eWallets present you with one of the easiest ways of buying Bitcoin Cash on eToro. They have become popular with crypto traders and investors because they are versatile, easily accessible, and easy to use. For instance, the process of buying BHC with eWallets in eToro is straightforward, beginner-friendly, and even cost-friendly – compared to bank transfer. Most of these are also available to virtually anyone in an eToro-supported country, and their transaction processing is instantaneous.

How to Buy Bitcoin Cash (BCH) with a Credit/Debit Card

Debit and credit cards have also gained momentum as one of the most popular ways of buying Bitcoin Cash on eToro. Cards are preferred to eWallets because they are a globally accepted payment method. They are also favored to bank transfers because transaction processing is instantaneous and less expensive. For instance, debit and Credit card deposits into eToro are free, and you only have to part with the transaction-processing fee charged by the card provider.

How to Buy Bitcoin Cash (BCH) with PayPal

eToro stands out as one of the few crypto brokerages that still support crypto purchases via PayPal. It is a preferred payment method here because it allows for instantaneous transaction processing, inexpensive transaction processing fees, and ease of use. When using PayPal to pay for BCH on eToro, the coins will be credited to your wallet within minutes.

How to Buy Bitcoin Cash (BCH) with Bank Wire

Individuals from countries that do not support PayPal or other eWallets can buy Bitcoin Cash with bank transfers on eToro. Though lengthy, the process of purchasing BCH via a bank transfer is straightforward. It takes between 3 and 7 business days for the deposited funds to reflect in your eToro account and the purchased coins credited to your eToro crypto wallet. Apart from the long wait time, the only other significant downside to buying BHC On eToro via bank wire is that it is more expensive.

How to Buy Bitcoin Cash (BCH) Anonymously (Without ID Verification)

You can buy Bitcoin Cash anonymously – without verifying your identity on eToro. However, this option is only available to residents of select countries, and they can only use limited payment methods. The maximum buying and selling limits are also capped at $2,000 per month.

What are the Pros and Cons of Buying Bitcoin Cash (BCH)?

Pros

Cons

Who Can Buy Bitcoin Cash (BCH)?

Virtually anyone in the world can buy and own bitcoin cash. You don’t even need to be above the age of majority to buy or hold cryptocurrencies like Bitcoin Cash. The internet is rife with stories of child investors like Andrew Karam who converted his Apple shares into Bitcoins when he was nine years old in 2013. It also is not short of parents testifying about their decisions to future-proof their children’s life by buying them cryptocurrencies like Bitcoin Cash.

To buy Bitcoin Cash you only need to reside in a crypto-friendly country and register an account with a crypto exchange or brokerage that lists the Bitcoin fork. Deposit funds into this account and proceed to make your purchases.

However, if you live in a country that has either banned or is actively discouraging the buying and selling of cryptocurrencies within their borders, you will have a hard time accessing BCH. Examples of these countries include China, Columbia, Bolivia, Ecuador, Algeria, Nepal, Qatar, Egypt, and Bangladesh. They have either criminalized cryptocurrency use or banned crypto trading platforms from operating within their borders.

If you live in Turkey, Nigeria, Russia, and India where the government has either banned crypto exchanges or are actively pursuing legislation that discourages the use of crypto, you too may also have a hard time accessing Bitcoin Cash now or in the near future.

What Do You Need Before You Buy Bitcoin Cash (BCH)?

Cryptocurrency trading doesn’t have to be complicated.  You do not even need a special set of skills or advanced trading tools before you can start buying Bitcoin cash. This is all you need to buy your first Bitcoin Cash coin.

How Much Do You Need to Buy Bitcoin Cash (BCH)?

There typically is no standard minimum or maximum investment capital required for buying Bitcoin Cash. And this can be attributed to the fact that Bitcoin Cash can be divided into micro-units and sold for cents on the dollar.

There, however, are a few factors that determine how much you need to put into your first Bitcoin Cash asset. These include your risk tolerance, crypto trading experience, amount of disposable income, the limits by your preferred crypto exchange, and your trader account verification status.

When choosing a crypto exchange, ensure that its trade limits align with your investment capital. At eToro, for instance, the initial deposit is set at $200 but you can buy BCH worth as little as $25. You will also note that on most exchanges – eToro included – the trading limits for users who wish to buy Bitcoin Cash anonymously is restrictively low.

When you have little disposable income, little to no trade experience, or low-risk tolerance levels, we advise that you consider starting small. You may later pour more into the investment if the results are rewarding.

This investment advice applies to both CFD and actual BCH purchases. And it should be guided by the investment rule of the thumb that reminds you to only invest what you can afford to lose.

Where Can You Buy Bitcoin Cash (BCH) Today?

Bitcoin Cash had a rough and highly controversial entry into the crypto industry. It attracted a lot of hostility from the crypto community, but this never prevented it from becoming one of the most popular digital currencies.

It even has a near-permanent feature on the list of the 20 most valuable cryptocurrencies. This popularity ensured that it was quickly listed by all the popular cryptocurrencies around the world, including Coinbase.

Today, you can easily buy Bitcoin Cash from multiple international and local exchanges or brokerages as well as Bitcoin Cash dispensing ATMs.

Depending on your preferred crypto exchange or brokerage, you can choose to buy actual BCH coins or trade Bitcoin Cash CFDs or futures contracts. Others, like eToro, give you the option of trading both actual coins and CFDs. Most recently, Grayscale Investments LLC. registered the Grayscale Bitcoin Cash Trust (BCHG) that you can buy on different stock exchanges and Over-The-Counter (OTC) markets.

How to Buy Bitcoin Cash (BCH) at a Bitcoin Cash ATM?

In addition to cryptocurrency exchanges and brokerages, you can buy Bitcoin cash on crypto ATMs spread across the world. These can be exclusive Bitcoin Cash ATMs or hybrid ATMs that dispense both Bitcoins and Bitcoin Cash.

Here is the step-by-step guide on how to buy Bitcoin Cash at a crypto ATM.

  1. Use Coinatmradar.com to find a Bitcoin Cash ATM near you.
  2. Verify your identity before transacting. Some ATMs will ask for a phone number, others require you to scan an identification document, yet others allow you to buy Bitcoin Cash anonymously (without ID verification).
  3. The ATM will want to scan the receiving Bitcoin Cash wallet address.
  4. Insert paper money into the Bitcoin cash ATM.
  5. Confirm the process by tapping on the ‘BUY’ ‘FINISH’ or ‘CONFIRM’ icon on the ATM. Your Bitcoin Cash will be delivered to the provided wallet address.

What to Look for in a Bitcoin Cash (BCH) Trading platform?

Did you know that there currently are 384 (recognized by the Coinmarketcap) crypto exchanges across the world? Add in there the numerous exchange apps and other highly localized peer-to-peer trading platforms and you are spoilt for choice on where to buy Bitcoin Cash.

How then do you narrow this ever-growing list when identifying a Bitcoin Cash trading platform that works for you? We have vetted different trading platforms and came up with a comprehensive list of factors that you ought to consider when finding the best Bitcoin Cash trading platform.

Things to consider when buying Bitcoin Cash

There are numerous easy for buying Bitcoin Cash tokens and trading Bitcoin cash derivatives like CFDs and Futures. How then do you find one that appeals to you? We help you get started and narrow your search by introducing you to what we consider the 6 best places to buy Bitcoin Cash in 2021.

1. eToro – Best for Social Trading

Number of Coins: 20+
Margin Trading: YES
Minimum Deposit: $200
Visit eToro

Capital At Risk

eToro tops our list of the best exchanges to buy Bitcoin Cash, not just because it is user-friendly, but also because of its popular social/copy trading platform. it also provides beginner traders with a free demo account for practice trading.

On eToro, users have the option of buying actual Bitcoin Cash coins or trading Bitcoin Cash CFDs. The BCH derivative traders have access to margin trades but the maximum leverage accessible to you is dependent on regulatory policies in your country of residence. Fiat deposits are free but Bitcoin Cash purchases attract spreads of up to 1.90%. The minimum withdrawal is 0.18 BCH and the transfer fees are fixed at 0.001 BCH.

You can buy Bitcoin Cash with a credit/debit card and a wide range of other payment methods. These include bank transfers, Trustly, Rapid Transfer, and e-wallets like Skrill, Neteller, or PayPal and the minimum you can deposit is $200 ($500 for bank transfers). eToro is also a custodial brokerage – meaning that it stores your BCH assets in highly secure servers – but you are still free to transfer your purchased BCH coins to the eToro wallet app provided by the broker.

The account creation and identity verification process on eToro is quite straightforward; broker’s services are available in over 180 countries & 42 US States. It is also registered and regulated by such reputable financial regulators as ASIC, FCA, and FinCEN. Deposits for eToro US clients are insured for up to $250,000 by the FDIC.

Pros and Cons of Buying Bitcoin Cash (BCH) on eToro

Pros

Cons

Step By Step Process of Buying Bitcoin Cash (BCH) on eToro

  1. Start by visiting the official eToro website.
  2. Register a trading account and verify your identity.
  3. Log in to your new account and click on “Trade Markets” on the user board. Choose “Crypto” and click on Bitcoin Cash from the list of supported cryptocurrencies.
  4. Customize the trade by entering how much you need to spend on the Bitcoin Cash purchase and click on the “Open Trade” button.
  5.  On the Fund your account page, use the drop-down menu to choose your preferred payment method (We use the credit card payment method for illustration purposes).
  6.  Enter your card details, ensuring that the name of the card matches the name used to create the eToro account.
  7.  Click on the “Deposit” button to authorize the purchase.

Note: Your Bitcoin Cash will be stored in eToro’s inbuilt exchange. To move it to another wallet, you will first need to send it to the eToro wallet app, from whence you can send it to any other exchange or third party wallet.

2. Capital.com – Best for CFD Trading

Number of Coins: 12+
Margin Trading: YES
Minimum Deposit: 20 $£€
Visit Capital.com

78.77% of retail cfd accounts lose money

Capital.com is a CFD trading platform that prides itself in the one-click trading technology and fast order execution speeds. Unlike eToro that offers both actual crypto and crypto derivatives, you can only trade two Bitcoin Cash CFD pairs on the platform – BCH/USD and BCH/BTC. These can also be traded using either cash deposits or on margin – with leverages of up to 30:1.

Opening a crypto trading account on the brokerage is easy and straightforward. And you have the option of choosing between three account types. The minimum initial deposit at Capital.com starts from $20 for eWallets and $250 for bank transfers. And the broker supports up to seven deposit and withdrawal methods including Credit/debit cards, Apple Pay, Wire Transfer, and Trustly.

Capital.com is also hosted on a highly intuitive and AI-powered trading platform that oversimplifies the process of opening and closing Bitcoin Cash trades. Bitcoin Cash-trading on Capital.com is also commission-free and the broker is quite transparent with the fees, has no hidden charges, and BCH/USD spreads start from 1.60%. It also lets you view the fees and charges affecting your trade before hitting the buy button.

Note that Capital.com is a highly regulated broker and is currently available in over 183 countries across the world. Anyone in either of these countries can trade Bitcoin cash CFDs on the platform. And beginner traders have access to a free demo account for practice trading.

Pros and Cons of Buying Bitcoin Cash (BCH) on Capital.com

Pros

Cons

Step By Step Process of Buying Bitcoin Cash (BCH) on Capital.com

  1. Visit the official Capital.com website, tap on the ‘Trade Now’ button to create a user account, and verify your identity.
  2. Once logged in, click on the “Deposit” tab to the left of the user dashboard or the “Fund Account” icon on the top right corner of your computer screen.
  3. Select your preferred payment method, enter the deposit amounts, and follow the prompts to authorize the deposit. Keep in mind that the names on the deposit method should match the Capital.com account details.
  4. Once the deposit reflects in your account, use the search button on the user dashboard to search for a Bitcoin Cash CFD pair and decide if you want to buy or short the trade.
  5.  Use the trade menu to the right of the user dashboard to customize the trade by entering the amount, leverage, and such risk management tools as stop loss and take profit levels.
  6. Review the trade details, especially the spreads and overnight trading fees, before confirming its execution.

3. Coinbase – Best for Beginners

Number of Coins: 50+
Margin Trading: No
Minimum Deposit: 1 $£€
Visit Coinbase

Capital At Risk

Launched in 2012, Coinbase is one of the oldest and most reputable cryptocurrency exchanges in the world. It is also one of the most regulated Bitcoin Cash trading platforms and the first to go public through a direct listing. It stands out from the crowd because it lets you buy Bitcoin Cash with PayPal, debit/credit cards, bank wire transfers, Bank ACH (for US clients), SEPA and Faster payments for UK clients, and Ideal/Sofort (for European clients).

You have the option of buying and selling Bitcoin Cash on the main Coinbase exchange or trading against the market on the recently launched Coinbase PRO (designed for professional and institutional investors). Plus, the crypto exchange stores your Bitcoin Cash purchases in their highly secure offline vaults and provides users with a free Coinbase wallet app.

Creating a crypto trader account on Coinbase is a relatively straightforward process that requires every user to verify their identity. The identity verification is mandatory because  Coinbase is a fiat-to-crypto exchange that supports both crypto and fiat deposits. Note also, the minimum you can deposit into a verified Coinbase trader account is $50 but you can buy Bitcoin Cash for as little as $2.

You will also be charged highly variable transaction fees when you buy Bitcoin Cash on Coinbase. Typically, this fee ranges from 0.5% to 4.5%, depending on the preferred payment method, country of residence, the platform used, and cryptocurrency purchased.

What are the Pros and Cons of Buying Bitcoin Cash (BCH) on Coinbase

Pros

Cons

Step By Step Guide on How to Buy Bitcoin Cash (BCH) on Coinbase

  1. Visit the official Coinbase website. Click on “Open account” and proceed to create a trader account and verify your identity (mandatory).
  2. Once the account is approved, open the user dashboard, click on the “Portfolio” tab, and then choose “Deposit Funds.” You will be presented with different payment methods depending on your country of residence, but the most common is Credit/debit card and bank.
  3. Now that you have verified the account and deposited funds therein, you can now proceed to buy Bitcoin cash by clicking on the “BUY/SELL” tab on the top right corner of the user dashboard and choosing Bitcoin Cash.
  4. Customize the trade by entering the amount of cryptocurrency you would like to buy (in your local currency, not USD).
  5.  Complete the trade by clicking on the blue “Buy Bitcoin cash instantly” box.

The Bitcoin Cash assets will be stored in the inbuilt exchange wallet, but you are free to transfer them to a third-party wallet or any time.

4. Binance – Best for Low Fees

Number of Coins: 1500+
Margin Trading: YES
Minimum Deposit: 1 $£€
Visit Binance

Capital At Risk

Binance is one of the largest crypto exchanges by trade volume and number of registered users, as well as one of the most popular exchanges. Here, you can buy both actual Bitcoin Cash coins or choose to trade Bitcoin Cash Futures. The delivery of BCH futures is either perpetual or quarterly and is often pegged on either USD or USDT and can be margin traded with leverages of up to 125:1.

Recently, Binance integrated a peer-to-peer trading platform that allows you to buy and sell cryptocurrencies like Bitcoin Cash to peers while dictating the price and payment method for the trade.

The process of creating a trader account on Binance is easy and straightforward. Note, however, that Binance is a crypto-to-crypto exchange that does not support fiat deposits. Nevertheless, the broker has collaborated with several third-party fiat-to-crypto exchanges that process card, bank transfer, and eWallet payments. The minimum deposit is often set by these third-party exchanges.

The Binance platform has been accused of being complex and not as beginner-friendly. But what it lacks in the complex interface it covers in elaborate user guides and FAQs as well as a highly responsive customer support team. They also have a demo account that only supports practice trading for crypto futures.

Binance integration with Trust Wallet

In 2018, Binance acquired Trust wallet and made it the exchange’s official mobile wallet app to complement its in-exchange wallet. Binance.US users have their deposits insured for up to $250,000 by the FDIC. And for the rest of the world, Binance has set up an in-house insurance fund designed to compensate its platform users should their systems be breached and digital assets were stolen.

Binance runs a maker-taker market model where the fees charged on your Bitcoin Cash trades are based on your 30-day trading volume. These range from 0.02% to 0.10% for actual BCH purchases and 0.02% to 0% for futures trading. And when you pay with BNB coins, you will get 25% and 10% discounts for actual BCH coins purchases and futures trades, respectively.

Pros and Cons of Buying Bitcoin Cash (BCH) on Binance

Pros

Cons

Step By Step Process of Buying Bitcoin Cash (BCH) on Binance

  1. Visit the official Binance exchange or Binance.US if in the United State and create a trader account.
  2. Verify your identity (Anonymous trading is only available for traders looking to transact less than 2 BTC per month).
  3. Fund your account by depositing another crypto. Alternatively, click on the “Third Party exchange” icon under the “Buy Crypto” to buy Bitcoin Cash via an integrated fiat-to-crypto exchange like Simplex, Banxa, or Paxos.
  4. On the user dashboard, search for Bitcoin Cash and decide whether to place a market or limit buy order.
  5. The purchase of Bitcoin cash coins will be deposited in your Binance wallet from whence you can forward to a third-party exchange or wallet.

5. CoinMama – Best for Fast Transactions

Number of Coins: 9+
Margin Trading: No
Minimum Deposit: 50 $£€
Visit Coinmama

Capital At Risk

Coinmama stands out from the rest of the Bitcoin Cash trading platforms listed here because it is neither an exchange nor a brokerage. Rather, it is an instant-buy platform that facilitates the purchase of Bitcoin and eight other cryptocurrencies and the sale of Bitcoins. You can only acquire actual Bitcoin Cash coins when trading on the platform and Coinmama does not facilitate the sale of BCH coins.

The account registration process on Coinmama is quick and straightforward, and transaction processing almost instantaneous. The platform is also versatile and allows you to buy bitcoins with debit/credit cards, online wallets like Apple or Google Pay, and bank transfers.

The maximum Bitcoin Cash you can buy on Coinmama is dependent on your verification level and starts from 5 trades totaling or $15,000 per day. It is also highly transparent with transaction fees and imposes a 5.5% charge atop the variable processing fee charged by your payment service provider.

Coinmama does not provide wallet services. You will, therefore, need to first acquire a wallet before initiating a buy order on their platform.

According to their website, Coinmama has served 2.8 million crypto traders from 190 countries and territories across the world – including the US.

Pros and Cons of Buying Bitcoin Cash (BCH) on Coinmama

Pros

Cons

Step By Step Process of Buying Bitcoin Cash (BCH) on Coinmama

  1. Visit the Coinmama official website. Create a trader account and pass email verification.
  2. Pass identity verification by providing the crypto brokerage with a copy of an official identification document and a selfie.
  3. Log in to your approved Coinama account and on the drop-down menu, select Bitcoin cash and enter the amount of cash you wish to spend on the trade.
  4. Enter the wallet where you would like your Bitcoin cash deposited.
  5. Choose a payment method.
  6. Confirm that the transaction details, especially the wallet address are correct and hit send.
  7. Coinmama will deliver the coins to your wallet immediately.

6.  Kraken – Best for Safe Bitcoin Cash (BCH) Storage

Number of Coins: 50+
Margin Trading: YES
Minimum Deposit: 1 $£€
Visit Kraken

Capital At Risk

Kraken is definitely one of the oldest and one of the most trusted crypto exchanges. It has the instant buy feature that allows you to buy Bitcoin Cash with fiat and the Kraken PRO exchange where you trade BCH against other cryptocurrencies. While here, you also have the option of buying actual Bitcoin Cash tokens or trading BCH futures with access to leverages of up to 50:1.

The exchange is available in 180+ countries and territories across the world and 48 US States. It maintains a relatively quick and straightforward account creation and verification process. Kraken is also quite beginner-friendly with a highly intuitive interface and a demo account and for practice trading BCH futures.

Further, the US-based exchange is also highly regulated by different agencies across the world, including FinCEN in the US, FinTRAC in Canada, FCA in the UK, AUSTRAC in Australia, and Japan’s FSA.

Like most other exchanges, Kraken features an in-built wallet for holding your Bitcoin Cash balances. You can also buy Bitcoin Cash on Kraken using balances in online wallets like Paypal, Skrill, or Neteller, credit/debit cards, and even bank transfer with as little as $10. It is also highly transparent with the fees charged on the platform and will always show you the trading cost before you can approve a trade.

For instance, if you buy Bitcoin Cash on Kraken instant buy tab, you will only pay a 1.5% fee plus the variable charge imposed by your payment processor. On Kraken Pro, your trade is subjected to a maker/taker fee model that determines the transaction charge based on your 30-day trading volume. These range from 0% to 0.26%. BCH futures also attract maker/taker fees based on 30-day trade volume, which ranges from 0.0% to 0.05%.

Pros and Cons of Buying Bitcoin Cash (BCH) on Kraken

Pros

Cons

Step By Step Process of Buying Bitcoin Cash (BCH) on Kraken

  1. Visit the official Kraken website and register a crypto trader account.
  2. Verify your account. Phone verification unlocks starter level with a withdrawal limit of $150,000, ID and selfie unlock the Intermediate level with withdrawal limits of $15 Million per month, while financial statements and AML verification unlocks PRO-level $100 Million monthly withdrawal limit.
  3. Deposit funds into your verified user account.
  4. Access the Kraken user dashboard where you can place a market or limit order for the Bitcoin Cash you wish to buy.
  5. The Bitcoin Cash will be deposited into your Kraken wallet from whence you can transfer them to another exchange of third party wallet.

Other Ways of Getting Bitcoin Cash (BCH)

Hereinabove we have detailed the process of acquiring Bitcoin Cash from crypto exchanges and brokerages.

But we are also appreciative of the fact that these aren’t the only ways of acquiring Bitcoin Cash. Others include:

Receiving BCH as a Gift or Tip

The sudden rise in the popularity of different cryptocurrencies has seen most crypto users try and experiment on different crypto use cases. And crypto gifts and tips have emerged as one of the most popular ways of spending and interacting with different cryptocurrencies. It, therefore, isn’t uncommon today for members of the crypto community to issue Bitcoin cash gifts or tips.

Through Bitcoin Cash Faucets

Bitcoin Faucets refer to mobile apps or websites that reward you for fulfilling different tasks posted there. These may range from competing capture and quizzes, watching product videos and ads, or clicking on marketing links. For the longest time, these faucets paid in cash deposited into eWallets or banks. Today, however, most of these have embraced crypto and will reward you with Bitcoin Cash for completing these tasks.

Bitcoin Cash Mining

If you have access to significant and unutilized computational power, you may consider dedicating it to Bitcoin Cash mining. To maximize your potential earnings consider joining reputable Bitcoin Cash mining pools. These allow you to contribute computational power to their network and share the Bitcoin Cash mined based on the power contribution ratio.

Accepts Bitcoin Cash as payment for Goods and Services

In every market, the seller dictates a product’s price and the payment method. You too can decide that you want to be paid in Bitcoin Cash for your goods or services.

How Can You Use Bitcoin Cash (BCH)?

Now that you have learned of the different paths to acquiring Bitcoin Cash, it is time to look at the ways in which you can put the BCH coins received/earned to use.

What do Reddit & Quora Users Say About Buying & Investing in Bitcoin Cash (BCH)?

Reddit

Bitcoin Cash is such a hot topic on Reddit with a flurry of questions about different aspects of the altcoin raised daily. At one moment, a Redditor will be asking about Bitcoin Cash price predictions, another thread will pop up discussing the impact that different events in the crypto industry have on the coin, and yet another discussing Bitcoin Cash investing and buying tips. The Reddit community is appreciative of BCH’s role in the crypto industry and most of the commentaries about the coin are generally bullish.

Quora

Does Bitcoin have a future? Is it better or how different is it from Bitcoin? And how likely is it for Bitcoin Cash to ultimately dethrone Bitcoin as the Cryptocurrency “king”? These are some of the most popular and most common queries about Bitcoin cash on Quora. And the responses are overly positive as Quora users express their belief in the cryptocurrency’s sustainability and up-trending future price action. There is a robust discussion around Bitcoin Cash in this space that could be beneficial to any would-be Bitcoin Cash enthusiast.

Bottom Line

There is no shortage of platforms where you can buy Bitcoin Cash. Today, hundreds of crypto trading platforms from across the world support the purchase of either actual Bitcoin Cash tokens or such derivatives as CFDs or futures contracts. Equally important, these platforms have become more versatile and currently accept payments from the most diverse range of payment processors.

For instance, you can now buy Bitcoin Cash with PayPal, credit/debit cards, or bank transfer. The competition presented by a large number of trading platforms has also brought down the cost of investing in Bitcoin Cash.

By going through this guide, we hope you now are more informed on different ways to buy Bitcoin Cash, what to look for in a Bitcoin Cash trading platform, and can now use one of the Step By Step investment processes given here to buy your first Bitcoin Cash coin.

Frequently Asked Questions (FAQs)

Yes, crypto experts and investors are confident that its scalability, fast transaction processing, and low-cost transactions give it an intrinsic value that will continue pushing up its prices in the future – making it a good medium to a long-term investment product.

Currently, Bitcoin Cash has lost more than 85% of its peak prices. But Crypto industry experts and BCH investors are confident the cryptocurrency will recover and set a new all-time high over the long run.

Bitcoin Cash is faster in transaction processing and maintains lower transaction processing fees than Bitcoin. Observers are therefore confident that as the crypto industry matures, more merchants and individual crypto users will prefer transacting over the BCH network over Bitcoin.

Today, there are hundreds of highly reputable platforms where you can buy and sell Bitcoin Cash all over the world. These range from localized peer-to-peer networks, crypto brokerages, the all-popular crypto exchanges, and even Bitcoin Cash ATMs. . You will however need to apply the tips we shared hereinabove to identify the best Bitcoin cash-dispensing platform for you.

Immediately after the August 2017 hard fork, Bitcoin Cash prices were slightly lower than Bitcoin prices. But along the way, Bitcoin Cash was subjected to yet another hard fork in 2018 and a war of words between Bitcoin Cash and Bitcoin SV developers ensued. This saw Bitcoin Cash lose credibility in the face of the crypto community, tanking its prices drop to record lows from which it has never recovered.

Yes, in early 2020 PayPal announced plans to let its platform users in the United States buy Cryptocurrencies like Bitcoin Cash, Bitcoins, Litecoin, and Ethereum using their PayPal balances. They later launched the service in the UK and most recently, it announced plans to allow individuals who buy crypto on their platform ability to transfer these coins to third-party wallets and exchanges.

No, you cannot buy Bitcoin Cash on Cash App as it only facilitates Bitcoin purchases.