Bitcoin Cash (BCH) is a cryptocurrency that intends to offer an alternative to the most popular and largest cryptocurrency, Bitcoin.
Crypto investors always look to diversify in the crypto market, which has made many consider Bitcoin Cash. The opportunities presented by digital cash has made it to be considered by investors.
In this article, we’ll focus on how to buy Bitcoin Cash but before then, let’s learn more about this cryptocurrency.
What is Bitcoin Cash (BCH)?
Bitcoin Cash (BCH) is a cryptocurrency created to serve as digital cash. It was created through what’s called the ‘Hand Fork’ of Bitcoin by miners and developers.
At the time of the fork, everyone who owned BTC was awarded BCH. If you missed out on the launch and you need to diversify your portfolio by owning a BCH, you’re in the right place.
You’ll learn the easy steps on how to buy BCH.
Why Consider Bitcoin Cash (BCH)?
The major advantage of Bitcoin Cash over Bitcoin is the low transaction cost. Users of BCH may find their transactions are approved more quickly, with lower fees.
BCH can be used to pay for goods and services as well as to send money to family and friends. You may consider BCH if you want to build a long-term crypto trading strategy. You can also time the market with it to go after short-term profits.
Where You Can Buy Bitcoin Cash
1. Direct Purchase- You can buy directly from another individual or person or over the web.
2. Crypto ATM– You can buy through a crypto ATM that offers BCH. However, the ATM rates can be exorbitant and there is no guarantee that you can find a counterpart to make a trade with.
3. Exchange- This is the easiest way to buy BCH. Exchanges such as Binance, Coinbase, Kraken, etc are available to purchase BCH. You can trade other cryptos like BTC & ETH for BCH or use your fiat currency to buy BCH.
How To Buy Bitcoin Cash
Binance is the world’s largest crypto exchange. Here’s how to buy Bitcoin Cash on the exchange as a user;
1. Buy BCH with Bank Transfer– Buy stablecoins listed on Binance by wiring money from your account to the providers of these coins. You can then use these stablecoins to buy BCH on Binance exchange.
2. Trade Bitcoin Cash– Binance supports the deposits of more than 300 cryptos, several of which you can exchange for Bitcoin Cash at some of the best rates in the market.
3. Buy Bitcoin Cash with Credit Card– You can directly buy BCH with a credit/debit card on Binance. With your Visa or MasterCard, you can buy BCH easily on Binance.
Also Read: Bitcoin Vs Bitcoin Cash- What is the Difference?
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