As due to the heavy price rise, Bitcoin is getting out of reach from the hand of small investors, Alternative coins are drawing their attention in 2019. However, there are hundreds of altcoins are available in the market but Ethereum, Monero, Dash, Litecoin and Bitcoin Cash are the top alternative coins investors are choosing to invest on.
In my other guides, I’ve discussed Ethereum, Monero, Litecoin, etc. Now its time to discuss Bitcoin Cash.
If you want to read about other alternative coins head over to these articles,
- How to Buy Ethereum in India! [Working Methods 2019]
- Investing in Monero : Here Are Top 5 Monero Exchange Sites For You
- How To Buy Litecoins! [Step-by-Step Guide]
Just like other popular alternative cryptocurrencies, Bitcoin Cash is one of the best options to invest if you don’t have enough money for Bitcoin. And the best part of it is, you can get some decent returns investing in Bitcoin Cash.
Here is the historical graph of Bitcoin Cash by Coinmarketcap.com
In this graph, you can see a steady inclination in 2019 so it’s clear that it could be a great alternative currency of Bitcoin. Anybody who invests in Bitcoin Cash can get good ROI in one to two years.
What is Bitcoin Cash
First of all, we should know the currency in which we are going to invest.
Bitcoin Cash (BCH) is a hard fork or we can say a community-activated update to the protocol or code of the original Bitcoin came into effect on August 1st, 2017. In this version, the block size is increased to 8MB, which helps to scale the underlying technology of Bitcoin.
In Bitcoin classic the block size is 1MB which slowed down the transaction processing times, limiting the currency’s potential. So in 2017 Bitcoin was hard-forked to 8MB size and Bitcoin Cash was born.
Here was a short technical definition of Bitcoin Cash. Now I will show you where and how you can but Bitcoin Cash in your country.
Where to Buy Bitcoin Cash
Just as Bitcoin and other altcoins, Bitcoin Cash can be purchased by two main methods.
- Cryptocurrency exchanges
- Peer-to-Peer Platforms
However, there are other methods on the internet that you can also use to buy Bitcoin Cash but I always suggest the above methods as they are more secure and if you use them properly, the chance of fraud is negligible.
Best Exchanges to buy Bitcoin Cash
There are several exchanges available worldwide to buy Bitcoin Cash. But I have given here 4 best and most trustable exchanges of them.
CEX.IO is a big name in cryptocurrency exchanges. It has several facilities for buyers and sellers to make the process easy. Using this platform you can buy sell Bitcoin, Bitcoin cash, Ethereum, and several other currencies. The other great feature of this platform is you can also trade in cryptocurrencies and get some huge benefits with a short period of time.
They have several payment options including debit and credit card payments, Swift transfers and ACH. If you already have other altcoins you can exchange here with Bitcoin Cash.
Coinbase has the tag of the biggest crypto exchange in this world. However, they only support 4 cryptocurrencies Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
You can buy sell Bitcoin Cash with Coinbase by just linking your bank account. They have a great feature like USD coin to make your deposited amount volatility secured. If you want to hold your amount without affecting by the volatility of the crypto market, USD coin will help you in this.
They also have a wallet facility which you can use to hold your coins temporarily. However, I don’t suggest my readers hold their money in exchange’s wallet. So always use hardware wallets like Trezor or Ledger wallet.
Binance is the biggest crypto-to-crypto exchange which doesn’t support bank transactions. If you already have your money in crypto form, you can use them to exchange with other cryptocurrencies like Bitcoin Cash.
Binance is not just a crypto exchange but it is a margin trading platform where you can make huge ROI within a day. The only skill you need to have is analyzing the crypto market. If you are good analyzing the market, trading in Binance will be a gold mine for you. But if you are new in margin trading, I would suggest you don’t take many risks or you will lose your money.
4. Coin Mama
Last but not least – Coinmama. It’s my favorite crypto exchange as they provide several useful features for traders and investors from the countries which do not support cryptocurrencies.
They have several payment options that you use to buy Bitcoin Cash.
With Coinmama, you can buy Bitcoin cash with Credit cards, Debit cards, Bank account, ECH, wire transfer, Altcoins, and all the other possible methods.
the cool thing is that you can sell your Bitcoin cash and receive the payment in USD which is awesome for those who resides in the countries like India. You can use Paypal and other online wallets to receive the balance.
Local Bitcoin Cash: P2P Platform
The second popular method for buying Bitcoin Cash is by using P2P platforms where people meet together to buy/sell their cryptocurrencies. In my article How To Convert Bitcoin Into USD, EURO, INR Etc [4 Best Ways]
I’ve discussed the most popular P2P platform Local Bitcoins but the problem is they only support Bitcoin. However, don’t worry, for Bitcoin Cash, there is another platform exists called LocalBitcoinCash which you can use to buy sell your BCH.
In this platform, you can find hundreds of Bitcoin Cash holders who want to sell by accepting several types of transactions, including cash.
To find the buyers you have to enter your country, state, and city and you will get the list if available. Now you can message them to contact and buy/sell.
How to Buy Bitcoin Cash
Above we’ve discussed the places where you can buy Bitcoin Cash easily and securely. Now its time to know the transaction methods which you can use to buy Bitcoin Cash without any hassle.
With Credit/Debit Card
the first and most common transaction method to buy Bitcoin Cash is by using Debit/Credit cards. However, this is the easiest way to execute the trade, unfortunately not all the exchanges support Debit and credit card transactions.
the other problem is for those who live in countries like India where cryptocurrency is temporarily banned by the supreme court. As debit credit cards are the part of your bank account, you cannot use them to buy cryptocurrencies, if you live in those countries. But if you live in the USA, Japan, Australia, etc then it will be the best and easiest transaction method for you.
With Bank Account
Bank account or Wire and ECH transfer is the second common option for buying BCH. But the same problem exists with bank accounts if you live in countries like India.
If you live in the USA and other supportive countries then you can link your bank account to the exchange platform to buy Bitcoin Cash. To link your bank account, you have to provide your KYC and bank details which take a few hours to days verifying by the exchange. After varifying, you are all set to buy sell Bitcoin Cash.
Bitcoin to Bitcoin Cash
If you’ve already invested in Bitcoin then you use that to buy Bitcoin Cash from the exchanges or P2P platforms. It’s very easy to exchange Bitcoin Cash with your existing Bitcoins. You just need to go to the preferred exchange, create an account, provide your Bitcoin and Bitcoin cash wallet addresses and perform the transaction.
The best part of this method is you don’t need to wait for manual verification of your bank account. The transaction is instant and you get your Bitcoin Cash within minutes.
Many people invest in alternative cryptocurrencies and time to time exchange them with the growing cryptocurrencies. You can use this method to make a good ROI in a short period of time. However, you need to know the skill of forecasting the market for this approach.
The process is the same as Bitcoin to Bitcoin Cash.
Conclusion: How to Buy Bitcoin Cash
Well, now you know all the necessary things about buying Bitcoin Cash. I’ve discussed the best exchanges, P2P platforms, and the best transaction methods to buy the Bitcoin Cash without any hassle. I’ve also discussed the transaction methods for the countries where cryptocurrencies are temporarily banned.
Now its time to take action – Use any of the above methods to buy your first BCH and comment below which one you have used so that others could get help.
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