How to Buy Bitcoin Cash - Where to Purchase BCH?
Bitcoin Cash is a fork of Bitcoin, but has since become a major cryptocurrency in its own right. First created in 2017, Bitcoin Cash (BCH) split into two entities during the following year, bringing Bitcoin SV (BSV) into existence as well. The major crypto investor Roger Ver has been strongly associated with the foundation of the BCH crypto coin.
So this article will examine the fastest ways to buy Bitcoin Cash, and explain everything that you need to know about this major cryptocurrency.
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Buy Bitcoin Cash in just a few minutes
Set up your trading account with eToro for free with your name, an email address and telephone number
Choose your preferred payment method and activate the account with the minimum deposit into your account
Choose a cryptocurrency by clicking ‘Trading Markets’, set your risk limit and click ‘Get Started’ to start your investment strategy
Why Trade rather than Buy Bitcoin Cash for Cheap and Fast Returns?
You Don’t Need a Wallet
You trade on the price movement of the coin without having to buy and store it.
You Can Use Standard Payment Methods
All regulated brokers accept popular methods of payment such as credit/debit card and bank transfers.
Trades Are Fast and Withdrawals Are Easy
Trades are executed within seconds and withdrawals will reflect instantly in your account.
What is the Easiest Way and Best Way to Buy Bitcoin Cash? Compare the Top Bitcoin Cash BrokersBitcoin Cash brokers are the obvious place to begin when purchasing this cryptocurrency. This is often cited as the easiest way to purchase the coin, as brokers will act in the interest of investors. But the best place to purchase Bitcoin Cash will differ depending on your personal circumstances and requirements, meaning that you need to take several factors into consideration.
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5 Things to Consider If You Want to Buy Bitcoin Cash
In particular, the following five considerations regarding buying Bitcoin Cash could be particularly important. It is vital to take safety and security into account when making any investment in cryptocurrencies or for that matter any financial investment whatsoever.
Carefully choose your preferred secure payment method
First things first, choosing an appropriate payment method is obviously particularly important. This isn’t necessarily as straightforward as it sounds. Different locations around the world will have various payment methods available, meaning that you should definitely bear in mind the speed and cost of each payment system available.
Will you need to set up your own wallet?
It’s also very important to implement your own Bitcoin Cash wallets before purchasing the crypto coin. Bitcoin Cash customers need a wallet system in order to appropriately secure their funds. There are wallet systems built into cryptocurrency exchanges, but these can be vulnerable to theft. However, later in this article we will be discussing the options available for Bitcoin Cash users when they choose a wallet solution.
Another thing to bear in mind is that users entering into CFD agreements via recommended brokers do not need wallets, as this contract will effectively secure any transactions and funds associated with Bitcoin Cash.
Fees and costs are always extremely important, of course, and this definitely applies to Bitcoin Cash and other cryptocurrencies. However, it should be noted that using a cryptocurrency as a form of payment and transfer is considerably more affordable than traditional methods. So any fees or costs associated with Bitcoin Cash are always likely to be negligible.
Safety and security
Safety and security are obviously absolutely key with any cryptocurrency system, and thus the provisions made with Bitcoin Cash are obviously extremely significant. It should firstly be understood that Bitcoin Cash was initiated due to the concern of both the community and developers that the market-leading cryptocurrency would struggle to scale effectively in the future. This means that blocks on the Bitcoin Cash network can potentially be eight times larger than those of Bitcoin, which adds to its security potential.
Ownership of Bitcoin Cash is established through digital keys, Bitcoin Cash addresses, and digital signatures. Keys are created and stored in user wallets, which are completely independent of the Bitcoin Cash protocol. And Bitcoin Cash is a decentralised system, which implements a cryptographic-based security model in order to secure coins.
Every Bitcoin Cash transaction requires a valid signature in order to be included in its overarching blockchain, and this can only be generated once valid digital keys have been created. Bitcoin Cash aims to fulfil the original promise of Bitcoin as peer-to-peer electronic cash by ensuring that users pay lower fees than with its BTC cousin, while gaining access to more reliable confirmations and faster transactions.
Can you understand and navigate the platform?
The founders of Bitcoin Cash have made ensuring that the system is user-friendly one of their top priorities. And this is largely reflected in its operation. Some people, though, have questioned the branding of Bitcoin Cash, which can tend to cause confusion with Bitcoin, particularly for those uninitiated with the medium.
Ultimate Beginner’s Guide to Trading Bitcoin Cash
What is a Bitcoin Cash Broker?
Bitcoin Cash brokers work as intermediaries for investors, executing trades and ensuring that you do not need to have a huge technical grasp of the market in order to participate in the cryptocurrency revelation. Brokers have become massively more prominent due to the explosion of internet trading.
Because Bitcoin Cash has achieved a good deal of attention due to its relationship with the market-leading Bitcoin, most crypto brokers will embrace the token.
What is a Bitcoin Cash CFD?
CFD is an acronym for Contract for Difference, and refers to one of the most popular trading mechanisms within the financial system. These are particularly useful for cryptocurrencies, as CFDs enable investors to speculate on the change in the price of Bitcoin Cash, regardless of the direction in which it is heading.
This means that Bitcoin Cash investors can take a selling position in the cryptocurrency, which is obviously a massive market advantage. Another attractive aspect of CFD trading is that it makes margin trading possible, meaning that you can use money that you have borrowed to potentially increase your profits.
What is the Benefit of Regulation?
Cryptocurrency regulation helps create a safer environment for investors in the market. Financial regulators have moved to pass a considerable amount of legislation in the cryptocurrency niche since it became more popular, and this has helped increase security for those interested in trading. This has also meant that cryptocurrency has become more credible as a trading platform, which obviously is beneficial to both investors and owners of cryptocurrency.
What is the Best Payment Method for Buying Bitcoin Cash?
Bitcoin Cash can be bought via several different payment methods, and each of them have their own merits and disadvantages. They can also differ depending on the location of purchase.
Buying Bitcoin Cash with PayPal
PayPal is a hugely popular digital payment system and becoming increasingly common. But it should be borne in mind that not all exchanges accept PayPal, nor is it available in every country.
Fees associated with PayPal are higher than some other payment methods, but the convenience of the system does attract many investors.
Purchasing with Cash
Cash would certainly be an attractive way to purchase Bitcoin Cash, were it not for the fact that it is almost impossible! You may be able to enter into a private agreement with someone who already holds BCH, but purchasing with cash is otherwise completely unrealistic.
Via Bank Transfer
Buying Bitcoin Cash with a bank transfer is also attractive due to a lack of fees, but it can be time-consuming and is not necessarily accepted by all exchanges.
Buying Bitcoin Cash with Credit Cards or Debit Cards
Credit and debit card transactions are the most convenient and ubiquitous way to purchase BCH, but credit cards attract higher fees than any other payment methods. Nonetheless, you can always rely on credit and debit cards to fund your account.
The Verification Process for Trading
Bitcoin Cash is not one of the anonymous cryptocurrency platforms available and does require users to confirm their identity. This verification process typically involves confirming your address and offering some form of government-approved identification. This is generally a quick and painless process, but it will lead some investors to prefer other cryptocurrencies that allow anonymity in some respect.
Long vs Short Term Investment
There is always a debate over long and short-te