Making its debut mid-2017, Bitcoin Cash has been dubbed the ‘next big coin’. Spawned from the original Bitcoin due to a hard fork it is now a cryptocurrency in its own right: completely separate from Bitcoin.
Bitcoin Cash (BCH) has already demonstrated its quality as a crypto coin with its lower fees and faster transactions, thanks to the increased block size and a growing recognition that mirrors its capabilities.
We’ve had a look at the best performing sites so you don’t have to. Have a look at the list below and sign up to buy Bitcoin Cash in just a few minutes!
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If you aren’t sure where to buy Bitcoin Cash, then brokers and exchanges online are the usual first port of call. The process you will need to follow for each is relatively similar and goes something like this:
1. Register on your chosen site, providing email address, phone number and name
2. Deposit funds into your account and choose your currency, in this case, Bitcoin Cash
3. Provide proof of identity and address documents, such as ID card, passport and a utility bill or bank statement
4. Buy Bitcoin Cash instantly!
These steps may vary slightly from platform to platform. With some, you can buy Bitcoin cash with credits cards like Mastercard and Visa, PayPal and debit cards.
*Note - it is worth having your ID documents and details ready before you buy Bitcoin Cash online, this will speed up the verification process.
If you want to buy Bitcoin Cash with no verification requirements then there is the option of peer to peer trading, this involves trading directly with people who are looking to buy or sell Bitcoin Cash. This offline approach means you can buy Bitcoin Cash with no ID but there is more risk involved. Do not provide anyone with the private keys to your wallet and always check the wallet address of the person you are buying from.
Not all exchanges and brokers are offering trades in Bitcoin Cash but momentum is building for the new kid on the Bitcoin block. Here are some of the platforms where you can buy Bitcoin Cash.
Buying Bitcoin Cash on Plus500 means there are a number of payment methods open to you.
Each method requires a degree of personal identity verification. For example, if you buy Bitcoin Cash with a credit card or a debit card you will be asked to supply an image of your card or a bank document to upload, the same with a bank statement if you are paying via bank transfer. If you buy Bitcoin Cash with PayPal then you need to go through online verification. Check on the site to see if your country of residence allows for your preferred payment method.
On CEX.IO you can both buy and sell Bitcoin Cash with credit cards, Mastercard and Visa, bank transfers are also possible. The exchange also offers the chance to buy cryptocurrencies in ready-made bundles which means you can buy Bitcoin instantly on the site.
Coinbase is considered to be the largest Bitcoin exchange. It is a GDAX (Global Digital Asset Exchange company) where you can buy, sell and withdraw different digital currencies. Before you buy Bitcoin Cash Coinbase will take you through a signup process, you will then link your bank account to your Coinbase account and begin your first purchase, the exchange will then deliver your BCH to your Coinbase wallet.
Kraken is a US based exchange where you can trade in multiple currencies including Bitcoin Cash. You can make a deposit using wire transfer, other payment options like debit cards and credit cards are not presently accepted. Kraken is a respected site that is especially popular with more experienced investors. To read a review of the platform click here.
Buying Bitcoin Cash with eToro is simple and hassle free. It is an FCA (Financial Conduct Authority) trading investment network that supports CFDs (Contracts for Difference). Different from exchanges, you are able to buy Bitcoin Cash in a matter of minutes, with most payment methods accepted.
A big selling point on the eToro platform is the option to ‘copy trade’ that is, to copy other, more experienced traders who are registered on the eToro platform, ideal if you are just starting out. eToro has top rated reviews across the web. Click here to read a review of eToro.
Below is a three-step guide on how to get started on eToro in just a few minutes.
Register on the eToro platform, you will need to provide the basics, including full name, email address and phone number.
When you have signed up you will have access to the main page. Your profile, news feed, portfolio and watchlist options are on the left-hand menu. Click at the bottom of it on ‘deposit funds’
Deposit funds into your account by clicking on the blue button at the bottom left of the screen. A drop down will appear, choose your preferred payment method, the currency you wish to make a deposit in and fill in your address details and press ‘submit’.
Congratulations! You’ve funded your account and are now ready to start trading Bitcoin Cash!
CryptoGo is an intermediary service allowing investors to buy Bitcoin Cash instantly with Fiat money. It serves as a user-friendly alternative to exchanges that some beginners find difficult to get used to. When you register with CryptoGo you will be assigned a personal account manager who has access to almost every cryptocurrency available and who is on-hand to help you through the buying process.
You can buy Bitcoin cash with PayPal, credit card or wire transfer when you use CryptoGo. See here to read the CryptoGo review.
Below we have detailed a very simple guide on how to get started with CryptoGo.
Go to the CryptoGo website and input your name, email address and phone number, then click ‘buy now’
You will receive an email like the one below, if there is nothing in your inbox, check your junk folder. Confirm your email address to verify. You will then be sent a password to log into CryptoGo.
Once you are logged in you will see a screen like the one below. Select how much Bitcoin Cash you wish to purchase and in which currency. Confirm your order by clicking the green button at the bottom and agree to terms and conditions.
Make your payment. Note that if you are buying Bitcoin Cash with GBP you cannot use a credit card, it’s debit cards only.
Signup on CryptoGo today and speak to your dedicated personal account manager.
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When you buy Bitcoin Cash, you will need to have a wallet ready to store your coins. There are lots of different wallets available. Cold wallets are for those who want to store their cryptocurrency offline and a generally deemed more secure. Hot wallets are connected to the internet and are considered easier to use.
A wallet has public and private keys which are multiple digit, alphanumerical codes used to access the funds inside. You need to keep these ultra-safe because if you lose them or forget them, you cannot access your funds, or they could be stolen.
If you buy Bitcoin Cash with an exchange they will set up a wallet for you but it is recommended that you set up an external wallet as these exchanges do have access to your private keys.
Below we have detailed some of the best wallets for Bitcoin Cash.
*If you are looking for the best way to buy Bitcoin Cash then you need to consider the whole process, and that includes ensuring your currency is safe and secure in a wallet.
As the interest in Bitcoin Cash and other cryptocurrencies increases, so do the options available to make a deposit. Below are some of the ways you can buy Bitcoin Cash.
Each exchange and broker is different and will offer a different menu of payment options when you sign up/register.
If you are looking for straightforward way to buy Bitcoin cash PayPal is an option in most cases. For a slightly more tangible way to buy Bitcoin Cash credit card and debit card payments are generally accepted in most established brokers and exchanges.
eToro offers all of the different deposit payment methods above. Using this link, to register today and find out about how to get a free bonus amount to start trading with today!
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If you don’t want to buy Bitcoin Cash in the obvious sense but you still want to profit from it, it is possible to mine it. Mining Bitcoin Cash is getting more popular and there are significant financial gains to be made.
Mining cryptocurrencies is the lifeblood of all blockchain activity. Miners decipher mathematical equations in the blockchain to verify transactions within it and they also apply new tokens to circulate.
If you would like to make money from mining Bitcoin Cash then you will need to buy a Bitcoin Cash mining rig, a computer system designed for mining cryptocurrencies.
The machinery is expensive and you will need to ensure you have a reliable and cost-effective electricity supply to run it efficiently. ASIC miner is one of the most popular pieces of equipment used, you can buy it on eBay and also here.
Although it is still early days for Bitcoin Cash all fingers point to a potentially improved version of Bitcoin. With a cryptocurrency system already fully functioning and still developing, more ways to buy Bitcoin Cash are popping up which can only increase its popularity. If there is anything more you would like to know about buying Bitcoin Cash, have a look at our FAQs below.
If you can’t wait to get started trading with this this exciting new cryptocurrency, click here to sign up to CryptoGo today!
Although Bitcoin is arguably more established than Bitcoin cash, there are a number of valid reasons why you might choose to invest in Bitcoin Cash over its predecessor:
1. The block size is larger and has a limit of 8 MB per block, as opposed to Bitcoin’s 1 MB per block
2. A new hash rate has encouraged Bitcoin miners to invest their time in BCH over BTC
3. Hardware wallet security
All investors who held Bitcoin prior to the fork in August 2017 are automatic owners of Bitcoin Cash. Some exchanges have offered Bitcoin Cash to anyone who had BTC in their wallets. However, if your BTC was on an exchange where they do not support BCH then you are not able to do this.
Many different platforms allow you to exchange your USD for Bitcoin Cash. Click on eToro to find out more about making deposits in USD.