How to Buy Bitcoin Cash (BCH)
You have a number of different options from where you can buy Bitcoin Cash. In this article you will find a list of platforms where to buy and how to buy Bitcoin Cash. That would also include related information with tips and recommendations.
Before you buy Bitcoin Cash you may want to read the article is Bitcoin Cash a good investment? It gives you context on the differences between Bitcoin and Bitcoin Cash. However if you are a trader only looking to keep Bitcoin Cash short term, this will not apply to you.
A quick note to clarify for beginners that may not be aware – Bitcoin Cash is not Bitcoin. It is also not Bitcoin in cash. It is a different cryptocurrency altogether. So if you would like Bitcoin instead, please check out this page to buy Bitcoin.
Where to buy Bitcoin Cash
One of best ways to buy Bitcoin Cash is by using an exchange. In general, exchanges make it straight forward to buy cryptocurrency.
This is mainly because they have user friendly interfaces. They are especially good for crypto novices that have little to no experience with buying crypto. Additionally they are one of the most convenient ways to buy cryptocurrencies.
You can also buy Bitcoin Cash from trading platforms. Trading platforms are good because you can save money on fees. The downside is that they are not that user friendly. Their interfaces are quite complex. Beginners should keep away from trading platforms until they get the overall idea how to buy cryptocurrency. After that they can progress to learning how to use trading platforms.
Another place where to buy Bitcoin Cash is from a cryptocurrency ATM. There are quite a few installed and they keep increasing in numbers. On the other hand crypto ATMs tend to be more expensive than other ways to buy Bitcoin Cash.
Best Exchanges to Buy Bitcoin Cash
BTC, ETH, DOT, DOGE, 90+ Cryptos
- Excellent security features
- Low fees on Kraken Pro
- Established exchange
- The lowest fees can only be accessed on the Pro area. There is a small learning curve to learn how to use it
BTC, ETH, BCH, 10+ Cryptos
- Established exchange
- Simple, intuitive website
- Excellent customer support
- Fees are high
- No crypto-to-crypto transactions
BTC, ETH, BCH, 60+ Cryptos
- Easy to use app
- Cryptos, derivatives, stable coins
- 24/7 support
- Lacks in choice of coins
- 600+ cryptos to trade
- Low trading fees
- Automated trading bots
- Comprehensive service
- Was hacked in 2019
- Customer service needs improvement
100+ Cryptos on Coinbase and 250+ on Coinbase Pro
- Is insured against hackers
- Low fees on Coinbase Pro
- Supports 100+ countries
- Customer support is slow and ineffective
- Goes down when large volumes of users hop on the platform
- Supports 1000+ cryptos
- Improved their security
- Supports 14 different languages
- Have reimbursed stolen client funds
- Customer support needs improvement
- Interface issues with the site
- The site has been hacked in the past.
How to Buy Bitcoin Cash Using an Exchange
The process of buying Bitcoin Cash from an exchange is pretty straight forward. The steps you will need to go through are as follows:
Exchanges are money services. Which means there is a difference between signing up to an exchange versus other online websites of other industries. To clarify regulated exchanges like the ones recommended on this page have to comply with international regulations.
As a result you will need to submit documents to register the account in your name. So the process of signing up takes a little longer. However most exchanges have made the process fairly easy because they automated part of it.
For example you will need to take images of your government issued identity document. The exchange will prompt you when and how to do it. So all you will need to do is follow the instructions they provide on the website.
You can find more detail about how to buy Bitcoin Cash by looking at the how to buy cryptocurrency guide. This is a general guide on how to buy a good portion of cryptos including Bitcoin Cash.
The guide goes through each of the 6 steps in detail on how to buy using exchanges. Of course each exchange is slightly different, but they are pretty similar to each other. The guide contains tips and resources you need including images.
Best trading platforms
BTC, ETH, DOT, DOGE, 90+ Cryptos
- Excellent security features
- Low fees on Kraken Pro
- Established exchange
- The lowest fees can only be accessed on the Pro area. There is a small learning curve to learn how to use it
- 500+ supported cryptos
- Excellent customer service
- Established in 2013 and never hacked
- Not available in the US
- Largely unregulated
Trade 650+ cryptocurrencies
- Choice of pricing plans
- Incredible charts and indicators
- 15m+ monthly users
- Can be overwhelming for newbies
- No customer support on free plan
BTC, ETH, BCH, 60+ Cryptos
- Easy to use app
- Cryptos, derivatives, stable coins
- 24/7 support
- Lacks in choice of coins
- Used by professional traders and investors
- Customisable interface
- Over the counter crypto trades for whales
- Difficult for beginners
- US players not accepted
- 600+ cryptos to trade
- Low trading fees
- Automated trading bots
- 10 million clients worldwide
- no fiat-to-crypto exchange
- Quick buy feature has hidden fees
- No US license
Advice on Trading Platforms
Trading platforms are not for inexperienced traders.
You have the same procedures to sign up as you would get with exchanges. The interface is like any other platform at this point, except for the difference in brand styles. As a result it is familiar and straight forward for anyone.
However when it comes to buying and selling it is a completely different story. Trading platform interfaces are much more complex to use and might baffle any beginners. The interface usually displays a chart and maker and taker areas for buying and selling.
You have a learning curve at the beginning to adjust to using trading platforms. The elements are not labelled. This is because it is expected that you already have the knowledge on how to use the interface.
However from one trading platform to another they are fairly similar. As a result once you known how to use one platform you have a good idea how to use other platforms.
If you are considering using a trading platform then we suggest you do your research on how to use one first.
Buy Bitcoin Cash From an ATM
There are a number of ATMs that you can find in various countries. Although there are many they are not found everywhere in the world.
Most will enable you to buy the most popular cryptos. Although Bitcoin Cash is not as popular any more, you can still buy Bitcoin Cash from crypto ATMs. You can find an ATM near you using CoinATMRadar.
The drawback is that most crypto ATMs tend to be expensive. By comparison they are more expensive than using other methods to buy Bitcoin Cash. The average fee tends to be 8.4% and it would depend on the brand of ATM machine you are using.
Unfortunately ATM companies are not transparent with their fees. So they could slap a fee as high as 25% when you purchase using the ATM. Mostly they charge around 10-15%. However CoinFlip ATMs are cheaper so you should seek these ATMs. This is because they charge at 6.99% fee plus a very small mining fee which is usually around $1.
This is probably the least convenient way to buy Bitcoin Cash, but some like it for the novelty. If you do choose this method to buy, then make sure you check the ATMs details on CoinATMRadar.
You can do this by clicking to ‘view details’ once you hone in on an ATM. Make sure the ATM is online and check the ATM brand. You can contact support if you require more information.
Save on fees
As mentioned the easiest method to buy Bitcoin Cash is by using an exchange. Additionally it is also one of the most convenient methods. You can do it in your own time without going out of your way.
Although exchanges have an easier interface especially for beginners they can be more expensive than trading platforms. Trading platforms have lower fees, but they are much more complicated to use.
There is usually also a difference between maker and taker fees. Sometimes maker and taker fees have a higher percentage difference than others. You would need to check each trading platforms fees before you sign up.
There is a way of saving fees on exchanges. The best way to do this is not to use credit cards and use wire transfer instead. Most or all exchanges accept wire transfer as well as credit card payments.
Unfortunately exchanges will charge you additional fees when you use credit cards because you can buy crypto instantly. Wire transfer may take a while longer to process, but you will have zero fees to make the transfer.
By using wire transfer, the only fees you will incur are the ones for exchanging fiat to buy Bitcoin Cash. These are standard fees regardless of the payment method you use.
Other Places to Buy Bitcoin Cash
You can also buy Bitcoin Cash from companies that supply debit or credit cards that support crypto. You might find them as an appealing option because they make owning and spending crypto easy.
There are quite a lot of crypto cards on the market nowadays. They come with a dedicated application you can download.
From the application you can deposit fiat (EUR/USD/GBP etc) or crypto and overall manage your funds. What is good about crypto cards is that they are convenient.
Firstly you have ease of use like an exchange you convert your fiat to crypto and vice versa. Secondly you can spend your funds easily at any merchant around the world that accepts cards. Even if the merchant does not accept cryptocurrency.
These crypto cards are either Visa or Mastercard’s, depending on which company you select. To use your funds you either need to exchange crypto to fiat on the app or do nothing at all. The Mastercard’s automatically exchange crypto to fiat when you make a payment.
Not all of crypto cards are good so it is best to stick to recommended crypto cards. They all are different in their own ways so it is worth having a look at the reviews of each.
The fees they charge for exchanging vary. However they are usually pretty similar to exchanges. Whether you buy Bitcoin Cash or any other crypto.
How Bitcoin Cash has performed
Bitcoin Cash has had its ups and downs, but it has not done as well as Bitcoin. Here below is a chart of its performance so far.
Sourced from CoinMarketCap
It has not gone past its all-time high which it reached at the end of 2017. However it does have some nice pops in price when the crypto market is rallying.
Best Bitcoin Cash Wallet
There are many different types of wallets on the market. There are what are known as hot wallets and cold wallets. Hot wallets are web-based wallets. They can be good, but they do not offer the same level of security you get from a cold wallet.
This is because they are connected to the internet all the time. They are apps that you download from the internet on your mobile phone or desktop computer. As a result they can be easily hacked in various ways.
One way is through a SIM swap attack which is a nightmare for anyone that experiences it. For example Michael Turpin lost $24 million worth of crypto due to one of these attacks.
Like for any other crypto the best Bitcoin Cash wallets are the ones that use cold storage. Cold storage offers the best security for your cryptocurrency. Likewise the exchanges that are serious about security usually implement an industry grade cold storage solution for storing client funds.
You can cold store your cryptocurrency using a hardware wallet. So either before or after you buy Bitcoin Cash it would be wise to consider buying a hardware wallet.
The good thing about hot wallets is that you have access to your cryptocurrency all the time. If this is something you want then there are a couple of solutions to get around this.
Solutions for Ease of Use
Firstly you can keep a small amount of crypto on a hot wallet. However you would keep the majority of crypto funds on your hardware wallet. You can top up your hot wallet as you go.
Some good hot wallets that are free are Exodus and Trust Wallet.
Alternatively you can get a hardware wallet that is compatible with your mobile phone. This would mean that you would need to carry your hardware wallet with you. Trezor model T is compatible with Android phones. You would need it together with the Google Chrome web browser to access your Trezor Suite.
On the other hand for Apple mobile phones you would need to use the Ledger Nano X. It connects wirelessly with the Ledger Live application on you mobile.
Frequently Asked Questions
Where can I buy Bitcoin Cash?
How do I buy Bitcoin Cash from an exchange?
1. Choose an exchange
2. Sign up
3. Verify your account
4. Your account will get approved by the exchange
5. Deposit
6. Buy Bitcoin Cash
