Knowing some theory about this or that cryptocurrency doesn’t mean you are aware and liable to use the facts in practice. Relax, I didn’t mean to scary you, or make you feel confused. In this digest, I am willing to teach you several quick and easy ways to buy Bitcoin Cash.
Check out the article carefully and be sure that I have tested all the methods on my own, so, the opinion is based on experience. That is how, you canhave an opportunity to get your hands on the crypto tokens and be well to become an active participant in the BTC economy. The world of electronic money won’t be a closed book anymore.
1. Get a Wallet
Before any kind of operations are possible, each user needs a Bitcoin Cash wallet in order to safekeep the tokens in it. Numerous platforms and providers didn’t include BCC in the list of allowed ones due to several reasons. Yet, more and more big wallet creators now adopt the electronic money.
Such leaders of the industry as Leader and Trezor are also in the range of those which accept BCC. Besides, they allow you to handle it as any other coin. Though the start was pretty slow, now you are free to claim the funds if you have BTC during the split of the blockchain.
2. Choose a Platform and Purchase BCH
At the moment, BCH exchanges are not as redundant as Bitcoin ones. Yet, this tendency is to alter with some time. Today, there are still several heavyweight alternatives to work with. And the first one is eToro. Here, you are not permitted to send the tokens to other people. The single action allowed is to buy or sell the crypto for fiat money.
Another option is Coinmama. Accepting users from almost around the globe, this web site is one of the first ones. It also makes it possible for you to buy BCH with various credit cards with comparatively low fees.
CEX.IO belongs to the variants you will definitely like. This English company is pretty trusted and respected in the market. Pick a currency and choose a quick buy option to own the digital coins with credit cards.
Register on Site
Let us take CEX.IO as an example to make everything clear. You are to create an account on the exchange house in order to use the service. In this particular case, there are only several steps to pass. Just fill in the fields with your email address and your desired safety password.
To complete the registration process, you are to accept the T&Cs, and solve the captcha presented. That is it. The next thing you see is that the site strongly advises you to activate the 2FA (two-factor authentication). Besides, the more info you provide, the higher account level you have. There are Basic, Verified, Verified Plus and Corporate stages or verification.
Fund Your Account
The list of deposit methods available to use when buying the desired cryptocurrency depends on the exchange site you use. Usually, there are presented credit cards, wire transfers, bank transfers, electronic wallets, other altcoins. Every alternative comes with its personal fees, limits, etc.
As a rule, Visa and MasterCard provide 3.5% taxes, not including the charges of the site itself. Some cryptocurrencies work absolutely for free, the others present their own conditions. The amount can start with 0.2% and reach up to 5% of the transaction.
Buy Bitcoin Cash
The process of purchasing BCC is pretty simple. The initial part includes the selection of a currency you need to get. Then, you pick the deposit method. A so-called “pair”. Once the decisions are made, you see the price and the fee amount. Enter the sum you want to receive and click the appropriate button.
3. Withdraw BCC
People tend to keep their digital coins on the reliable exchange houses they are registered at. Yet, in case you do not trust the service, you can send BCС to your wallet. So, once you have bought the tokens, move them to your self-hosted wallet to control the savings on your own. Use the block explorer and follow the status of your transactions. The process will be completed once you get 3 confirmations.