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How To Buy Bitcoin Cash (BCH)?

Bitcoin Cash 500x286 1 - How To Buy Bitcoin Cash

A common question you often see on social media from crypto beginners is “Where can I buy Bitcoin Cash?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. Thanks to its massive popularity, you can now buy Bitcoin Cash on most cryptocurrency exchanges, including Coinbase and Binance in 3 simple steps.

Step 1: Create an account on an exchange that supports Bitcoin Cash (BCH)

First, you will need to open an account on a cryptocurrency exchange that supports Bitcoin Cash (BCH).
We recommend the following based on functionality, reputation, security, support and fees:

1

 Binance

Create Binance Account - How To Buy Bitcoin Cash

Fees (Maker/Taker)            0.075%*-0.1%*

Cryptocurrencies
Available for Trade                             500
+

Sign-up bonus
 10% reduced trading fees*

Available in
Europe, Asia, Oceania, Africa

2

 Coinbase

Create Coinbase Account - How To Buy Bitcoin Cash

Fees (Maker/Taker)             1.49%*-3.99%*

Cryptocurrencies
Available for Trade                              75
+

Sign-up bonus
 $10 sign-up bonus*

Available in
North America, South America, Europe, Asia, Oceania, Africa

3

 FTX US

Create FTX US Account

Fees (Maker/Taker)            0.10%*-0.40%*

Cryptocurrencies
Available for Trade                             45
+

Sign-up bonus
 5% reduced trading fees*

Available in
North America, South America, Europe, Asia, Oceania, Africa

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Bitcoin Cash (BCH) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Bitcoin Cash (BCH)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Bitcoin Cash (BCH) or Bitcoin Cash (BCH) trading pairs. Look for the section that will allow you to buy Bitcoin Cash (BCH), and enter the amount of the cryptocurrency that you want to spend for Bitcoin Cash (BCH) or the amount of fiat currency that you want to spend towards buying Bitcoin Cash (BCH). The exchange will then calculate the equivalent amount of Bitcoin Cash (BCH) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Bitcoin Cash (BCH) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Bitcoin Cash (BCH)?

When politics happen to blockchains, hard forks can instigate new projects. Bitcoin Cash (BCH) was created by a group of developers, investors, entrepreneurs, and miners who were unsatisfied with Bitcoin’s development plans. Created in August 2017, Bitcoin Cash is a peer-to-peer electronic cash system that focuses on increased scalability and low transaction fees. The project is also referred to as Bitcoin ABC (Adjustable Blocksize Cap).

Blockchain scalability

In 2017, Bitcoin was suffering from long transaction confirmation times and growing transaction fees, detracting from its initial premise of being near-instant payments with very low fees. Before the creation of Bitcoin Cash, there was a strong debate in the Bitcoin community about the implications of increasing the block size limit.

Since Bitcoin is decentralized, proposed changes to the protocol require widespread agreement. Therefore, all network nodes need to reach consensus when making changes and updates to the Bitcoin software.

Bitcoin Cash was presented as a more scalable cryptocurrency, with reduced transaction fees and confirmation times. The BCH community argues that the project is more in line with Satoshi Nakamoto’s proposal of a peer-to-peer electronic currency. Mainly because the altcoin offers a faster and cheaper payment system that might be more suitable than Bitcoin for daily use.
Shortly after the Bitcoin Cash fork, the original Bitcoin blockchain went through a long-waited soft fork upgrade to implement a technology known as SegWit (Segregated Witness). Such an upgrade was created in 2015 by Bitcoin developer Pieter Wuille. It was implemented on the Bitcoin network to address network congestion and other scalability issues.

The SegWit soft fork was planned before the BCH hard fork, but the Bitcoin Cash proponents believed that SegWit was an inferior alternative to increasing the block size limit. The Bitcoin Cash fork from Bitcoin was supported by some notable members of the blockchain industry, including Jihan Wu (co-founder of Bitmain) and Roger Ver (CEO of Bitcoin.com).

How does BCH work?

Bitcoin Cash was directly forked from the original Bitcoin source code, so there are many similarities. Both networks run a Proof of Work consensus mechanism and are open for anyone to join and contribute. Also, any address that had BTC prior to the fork received an equal amount of BCH after the fork (same address string, but on different networks).
Similar to Bitcoin, BCH also has a target block time of 10 minutes and a max supply of 21 million coins. The emission rate of BCH halves every 210,000 blocks (roughly every four years). The current block reward is 6.25 BCH per block.

Unlike Bitcoin, Bitcoin Cash has an increased block size limit, which allows for more transactions to be included in each block. The block size limit was initially raised from 1 MB to 8 MB and then raised again in 2018 to 32 MB.

In practice, though, the average block size of BCH only surpassed 1 MB a few times since 2017. We can see a comparison between BTC and BCH average block size at BitInfoCharts.com.

Both Bitcoin and Bitcoin Cash adjust their mining difficulty through the so-called difficulty adjustment algorithm (DAA). However, Bitcoin adjusts the difficulty every 2016 blocks, while the mining difficulty of Bitcoin Cash is adjusted after each block.

In the past, Bitcoin Cash also implemented an emergency difficulty adjustment (EDA) algorithm to decrease the mining difficulty and incentivize miners to join the network. However, the algorithm was later removed due to instabilities. The EDA implementation is one of the reasons why the BCH blockchain is thousands of blocks ahead of Bitcoin.

In 2019, Bitcoin Cash implemented a technology called Schnorr Signatures, an alternative algorithm that changes the way digital signatures are used. The Schnorr Signatures scheme is simple and secure and allows for more privacy and scalability than the ECDSA scheme currently used by Bitcoin.

BCH key features

  • The BCH source code was based on the original Bitcoin protocol.
  • The supply is capped at 21 million.
  • As a fork of Bitcoin, BCH also uses the Proof of Work (PoW) consensus mechanism to issue new coins.
  • Increased block size from 1 MB to 32 MB.
  • The community argues that the BCH ethos aligns more closely with Satoshi’s original plans.
  • The BCH mining difficulty is adjusted after each block through the difficulty adjustment algorithm (DAA).
  • BCH did not implement SegWit.
  • BCH implemented Schnorr Signatures in 2019.
  • Smart contract development built-in as a later update.

Day to day payments

The Bitcoin Cash community defends that BCH is designed to be used as money. You can use it to quickly send and receive money to and from anyone with a BCH wallet, both individuals and businesses. With fast transaction times and low fees, BCH can be more suitable for daily use than Bitcoin, especially when making small payments.

Official website: https://bch.info/en/

Market Overview

Coinmarketcap.com

Find the latest Bitcoin Cash (BCH) price chart, trade volume, market cap, and other vital information to help you with your cryptocurrency trading and investing.

Coinmarketcap will be your cryptocurrency go-to for just about everything. Here you can see the following:

Market Capitalization And Daily Trading Volume

Current Market Price Of Every Cryptocurrency Relative To USD (And Some Local Currencies)

Circulating And Total Supply

Historical Charts With Prices Relative To USD, Bitcoin (BTC), And Ethereum (ETH).

CMC - How To Buy Bitcoin Cash

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