How To Buy Bitcoin With Cash (BCH)
Bitcoin Cash is a fork of Bitcoin, much like SushiSwap is to UniSwap. It is a spin-off created in 2017 by bitcoin miners and developers who are concerned about the future of bitcoin cryptocurrency and its ability to scale effectively.
In November 2018, the altcoin was split into two cryptocurrencies, one retaining the name “Bitcoin Cash” and the other being Bitcoin SV. We are interested in the previous one.
Bitcoin Cash is designated to be a transactional currency that works as an electronic cash payment system. It aims to solve the scalability problem that Bitcoin has seen and to provide more utility in everyday life.
Before you buy Bitcoin Cash (BCH), you should know that it is designed to be used.
instead of being stored as a store of value. BCH is accepted for payment by a variety of merchants worldwide, but there are also websites for travel, e-commerce, services, and more that accept it as a payment method. Cryptocurrency is more suitable for smaller transactions like buying coffee.
People with Bitcoin Cash using some wallets can enjoy CashShuffle or CashFusion. These smart contracts and apps consolidate your coins, making it impossible to track your transactions. Coin Mixing Protocol mixes your Bitcoin Cash with other owners prior to transactions. As a result, your transactions are private and very difficult to track.
Major popular crypto exchanges list BCH as an asset you can buy, sell and trade. So the first step to buying BCH is to register with a crypto exchange platform. The registration process on a crypto exchange is generally simple.
However, you can’t do it anonymously now that most major exchanges require to Know Your Customer and Anti-Money Laundering in the form of photo ID, and in some cases proof of residency and income verification. Once the registration and verification are complete, you can now proceed to buy BCH. There are several different ways to buy BCH, each of which involves different steps.
How To Buy BCH By Bank Transfer
First of all, log in to the exchange, and tap on the fiat wallet you want (e.g., USD, EUR, or GBP). Once you have the wallet, click “deposit” and select the “bank wire or bank transfer” option. Follow the instructions as provided by the exchange to deposit fiat.
Once the money arrives, you can convert the fiat money to BCH via the “convert” button, and that’s it. For more information, visit bitcoin-code.live platform
How To Buy BCH With A Credit Card Or Debit Card
You can buy Bitcoin Cash directly with a credit or debit card on major exchanges like Binance using Visa or MasterCard. Buying BCH with a debit card is easy, quick, and risk-free. On the exchange button, click on the “Buy Now” button on the button of the page (the position of the “Buy Now” may vary, depending on the exchange) and you will be taken to a purchase page or checkout page.
On this page, choose the crypto you want to buy and the fiat currency you want to pay in. Once you specify the amount you want to buy, it will be displayed here if there is a minimum quantity you can buy. Input your Bitcoin Cash wallet address and continue to checkout. All you have to do is fill in your account details and you’re set to receive your Bitcoin Cash.
How To Purchase BCH With Another Crypto Asset
Examine the exchange for the BCH pair. If you already own any of the pairs on an existing wallet, you can transfer them to the exchange and then trade them for BCH.
If you do not have a crypto pair for BCH on the exchange, you can buy any listed stablecoins such as USDT or USDC by wiring funds from your account to the providers of these coins. You can then use the stablecoin to buy BCH on the exchange.
BCH is a good buy as you can make it part of a short or long-term trading strategy. It can be used to pay for goods and services, as well as send money to friends and family as it is widely accepted. BCH is not designed to be used as a store of value, but it can be used as such due to ongoing price increases.
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