Do you want to buy Bitcoin Cash (BCH)? You are not alone. The nearly $5 billion BCH cryptocurrency is traded daily on global cryptocurrency exchanges. Bitcoin Cash is popular among users as a cryptocurrency "store of value" - as a way to send money around the world faster and with lower fees than its bigger brother, Bitcoin.
Investors can position themselves to potentially monetize the interest of BCH users. Below we review the best broker and three cryptocurrency exchanges so you can decide how to invest in Bitcoin Cash in a way that suits you. Plus we look at how this cryptocurrency works and what factors affect the price of Bitcoin Cash.
Where to Buy Bitcoin Cash
As the cryptocurrency sector matures, it is becoming easier for newcomers to get involved. Broker and exchanges, which we review below, are tailored to cryptocurrency novices. The best cryptocurrency exchanges in particular offer options for the more adventurous. We recommend that complete beginners try the eToro broker first and learn the basics with its pioneering social trading options.
1. eToro - Best broker to buy Bitcoin Cash with low fees
You can from as low as $10 Bitcoin Cash using the best eToro broker.You can get a cryptocurrency wallet such as the eToro Money cryptocurrency wallet if you want, but it is not necessary to buy and sell BCH with eToro - the broker will take care of your BCH for you. More than 2.7 million investors follow Bitcoin Cash from the eToro platform.
When considering how to invest in Bitcoin Cash, remember that the best investments are diversified investments. Diversifying your cryptocurrency portfolio minimizes the risk of serious losses. So check out the growing selection of 55+ cryptocurrencies on eToro and build your own portfolio. eToro also supports cryptocurrency staking with some of the best rewards on the market.
In addition to Bitcoin Cash, you can access all major blockchains, including Bitcoin, Ethereum, Solana, Ripple and Cardano. You have access to key DeFi cryptocurrencies, such as Aave, Algorand and Synthetix, as well as to Metaverse cryptocurrencies, such as Axie Infinity Shards, Enjin and Decentraland.
Top meme cryptocurrencies such as Dogecoin and Shiba Inu are up for grabs. You can even get in on the hot new NFT cryptocurrency, ApeCoin.
To trade cryptocurrencies on the go, eToro provides a free cryptocurrency app. And if you opt for a cryptocurrency wallet, try the eToro Money cryptocurrency wallet. Registered with the Gibraltar Financial Services Commission, it allows you to receive, send and exchange major cryptocurrencies.
2. Crypto.com - A reputable cryptocurrency exchange with a beginner-friendly mobile app
Crypto.com is now the ninth largest cryptocurrency exchange in the world with daily trading volume approaching $4 billion (data from the CoinMarketCap). The exchange is in the public spotlight right after a TV commercial during the Superbowl finale with actor Matt Damon.
Unlike the eToro broker, Crypto.com offers cryptocurrencies, but does not offer conventional stocks and shares. That's the difference between a broker and an exchange. You can buy Bitcoin Cash with a credit card or directly for fiat currency, and browse 250+ other cryptocurrencies. As with eToro, Crypto.com will store your BCH for you until you want to sell - or you can use Crypto.com's free wallet to store Bitcoin Cash and send it online.
Crypto.com is particularly strong in cryptocurrency financing. Using only the cryptocurrencies you own, you can borrow more cryptocurrencies or earn interest. It is a rapidly growing market. And as it matures, cryptocurrency financing is just now becoming available to complete cryptocurrency beginners. Why put your money in a conventional savings account and earn 1% in interest per year when you can put up cryptocurrency and earn ten times that? Crypto.com offers up to 14.5% APY (Annual Percentage Yield) on some cryptocurrency stakes. You can also secure a cryptocurrency loan by using your own cryptocurrency as collateral and receiving only 8% of interest per year.
Another standout financing option offered here is the Crypto.com Visa card. This allows you to spend cryptocurrencies in the real world and earn up to 8% back on purchases. Crypto.com has also launched a half-price Bitcoin Cash sale as part of their Syndicate operation. If you buy an in-house cryptocurrency CRO, you can access all sorts of offers like this one, and improve the rates of any cryptocurrency financing you enter.
3. Coinbase - Popular cryptocurrency exchangeto purchase Bitcoin Cash
Coinbase Is a great choice especially for investors from Poland . This is because Coinbase has made a solid name for itself among our compatriots around the world . With more than 73 million users and more than $4 billion in cryptocurrency transactions executed every day, this exchange is regulated in all US states in which it operates. Coinbase was the first cryptocurrency exchange to go public, with a NASDAQ IPO in 2021. (With broker eToro, you can trade Coinbase shares using the ticker COIN).
Coinbase's strong reputation is based on its extensive selection of cryptocurrencies (169 in total). Coinbase was one of the first exchanges to opt for "cold" storage. 98% of customer funds are stored offline using a combination of cold wallets and safes. This makes it much harder for hackers to get into any secure cryptocurrency.
You can buy Bitcoin Cash from Coinbase, just like the simple eToro process: open an account, deposit funds via bank transfer or debit card, buy BCH, and Coinbase will hold it for you. With Coinbase, you can buy as little as $25 of BCH. Using Apple Pay and Google Pay, you can buy cryptocurrency, but not add funds to your account. Using PayPal, you can buy cryptocurrency as well as deposit/withdraw funds from your Coinbase account.
Note that until very recently Coinbase accepted direct buying cryptocurrencies with a credit card - But this is no longer possible. If you want to use your credit card to purchase Bitcoin Cash, we have a solution. Sign up with eToro and fund your account with a credit card with no card fee (although a currency conversion fee may apply). Then you can go ahead and purchase Bitcoin Cash.
Some cryptocurrency financing options are available at Coinbase, including a credit card that you can use to spend cryptocurrencies, as well as cryptocurrency staking. For beginners, Coinbase offers educational articles that can be completed to earn cryptocurrency rewards. Coinbase's smartphone app gets a great average review rating 4.7/5 in App Store i 4.2/5 on Google Play.
4. Binance - the "giant" exchange for buying Bitcoin Cash
With nearly $24 billion in cryptocurrencies traded every day, Binance is the largest exchange in existence. Size is everything at Binance. The exchange has 90m+ users and over 600 cryptocurrencies on offer. If you're a cryptocurrency novice, then you may want to buy Bitcoin Cash with broker eToro for simplicity's sake. But, if you're feeling more entrepreneurial, Binance is the place to visit. To keep it simple, choose "classic" on the desktop version and "Binance Lite" on the smartphone app.
You can buy Bitcoin Cash with a credit card directly from Binance. A fee of 3% nominally , but usually only 1% is charged as part of an ongoing promotion. You can also buy BCH by depositing funds into your account via bank transfer or credit/debit card.
You can also trade for Bitcoin Cash on the main exchange, using other cryptocurrencies that you bought on the spot or transferred. Given the array of buying options available, how to buy Binance Cash is quite a dilemma with Binance!
But, however you choose to invest, Binance will hold your BCH for you.
There are many ways to invest cryptocurrencies, including staking, liquidity pools (not for novices) and A regular account with interest on cryptocurrencies. It is also available Binance credit card, and small business owners can even use Binance Pay to arrange for customers to pay you in cryptocurrencies.
What is Bitcoin Cash?
Bitcoin Cash is a store-of-value cryptocurrency. Its purpose is to act as a means for people to pay each other. The cryptocurrency was created from a " fork" of Bitcoin in 2017 to offer faster and cheaper transactions than Bitcoin itself. The total market capitalization of Bitcoin Cash is more than $7 billion, and nearly $5 billion of BCH is traded daily.
Is bitcoin cash a good investment?
The cryptocurrency market has been down since last year. First, inflation fears meant that large institutions began putting their money in assets with quieter risk/reward profiles than cryptocurrencies. This has deflated cryptocurrency prices.
Then, concerns over the Ukraine crisis took hold. It may be too early to tell, but it seems that cryptocurrency prices are starting to rise again. If so, the best time to buy Bitcoin Cash is right now, before its value increases.
Usability in the real world
Investors are better off investing in cryptocurrencies that offer real-world benefits. So how does Bitcoin Cash offer value? BCH allows users to send money to other people much cheaper than it costs to use Bitcoin. Bitcoin transaction fees are approximately $1.00 per transaction; Bitcoin Cash fees are approximately $0.01 per transaction. So that makes Bitcoin Cash a hundred times cheaper than Bitcoin.
Bitcoin Cash - double benefit for the owner
If you have Bitcoin Cash, you can use it in two ways:
- You can hold on to it as an investor in the hope that its value will increase; then you can sell it at a profit. If you follow the path of an investor, you don't need to acquire a cryptocurrency wallet.
- You can use Bitcoin Cash to pay for services online. With its low transaction fees, BCH is suitable for relatively low-value transactions. In this case, you will need a cryptocurrency wallet to store Bitcoin Cash.
Good Bitcoin Cash tokenomics
The supply of Bitcoin Cash is limited to 21 million cryptocurrencies. This means that the price is protected from inflationary pressures associated with unlimited minted cryptocurrencies. There are currently 17 million cryptocurrencies in circulation.
Ways to Buy Bitcoin Cash
Before you make the first move, here are some of the best ways to buy BCH in 2023 through a popular cryptocurrency broker eToro.
Buying Bitcoin Cash with PayPal
The best way to purchase Bitcoin Cash using PayPal is to use Coinbase. PayPal has fallen out of favor with other merchants since it began offering cryptocurrency purchases alone from inside the PayPal app. With Coinbase, you can use PayPal to purchase cryptocurrencies, as well as deposit and withdraw from your Coinbase account.
Buy Bitcoin Cash with a credit card or debit card
You can fund your eToro account with a credit card without charging a card fee. Then you can buy Bitcoin Cash using funds from your account. This is an easy way to buy Bitcoin Cash with a credit card. Otherwise, you can use Binance to buy Bitcoin Cash with your credit card directly.
As for credit cards, beware - financial regulators make it difficult to use credit cards to buy cryptocurrencies because of the risk of fraud, and exchanges tend to charge higher fees on credit card transactions.
You can buy Bitcoin Cash using your debit card on Binance as well, provided they accept your card. Otherwise, fund your eToro account with your debit card and buy using the funds in your account.
Best Bitcoin Cash wallet
Remember: if you only want to invest in Bitcoin Cash as an investment asset, you don't need a cryptocurrency wallet. You need a cryptocurrency wallet if you want to use Bitcoin Cash to pay for goods and services online or send to friends. Many wallets are compatible with Bitcoin Cash, including the eToro Money cryptocurrency wallet.
How to Sell Bitcoin Cash
Broker eToro And the 3 exchanges we reviewed (Crypto.com, Coinbase i Binance) will take care of your cryptocurrency until you want to sell it. Then these sellers will buy your cryptocurrency from you at any time.
In reviewing four cryptocurrency providers, we looked at, where to buy bitcoin cash. Your priority is to decide how to buy BCH in a way that suits you. The big exchanges are increasingly set up for newcomers. But the options offered can be overwhelming.
We recommend eToro for both beginners and more advanced traders. This broker may not have the same range of cryptocurrencies as the big exchanges, but it makes up for it with a wonderfully simple way of doing business. There is a real sense that you can't go wrong at eToro, which beginners will find reassuring. eToro's social trading options work well for both beginners and advanced traders. Best of all, eToro is so rigorously regulated that there is no doubt that you are dealing with a reputable company.
The views and opinions expressed here are solely those of the author and should not be taken as financial advice either. Every investment and transactional activity involves risk, so you are advised to do your own research when making any trading, investment or financial decisions.