Buy Bitcoin Cash (BCH)
How to buy Bitcoin Cash (BCH)?
Bitcoin was the first cryptocurrency, created all the way back in 2009.
Since then, there have been hundreds of other altcoin currencies that have surfaced to compete with this first one. While there are some rapidly growing digital currencies today, Bitcoin is still the leader of the pack. However, even Bitcoin has not had purely smooth sailing and has encountered several problems along the way.
In 2017, there was a large concern about the scalability and transaction times of Bitcoin, and this led to a hard fork in the crypto, led by Roger Ver. Some developers decided to set up their own branch of Bitcoin, called Bitcoin Cash (BCH). The objective here was to push this crypto to handle an increased load of transactions and in a big way it worked.
Bitcoin Cash is able to handle more transactions at a faster rate and a reduced cost.
How to invest in Bitcoin Cash (BCH)?
Bitcoin Cash is clearly an interesting cryptocurrency, not least of all because it is a fork of Bitcoin, the biggest crypto in the world.
While BCH is attached to Bitcoin by name and association, it is not the same currency, much like Bitcoin SV, another fork of this crypto. This means that while it can gain in some respects, like faster transaction speeds and block size limit, it is losing in others relative to Bitcoin, like the usability of the crypto in the real world.
To understand how to invest in Bitcoin Cash in South Africa, you must know how to get a hold of it. With crypto, you can often find a way to buy and sell it directly online. This often comes from individual sellers, in a peer-to-peer exchange.
One of the most popular ways to buy BCH is probably through an exchange like this, which allows you to trade various cryptos for others, and even involves standard fiat currencies that you can use to trade.
Bitcoin Cash (BCH) trading platform
The exchange you use for your crypto trading is one of your best tools in finding the securities you want to invest in.
An exchange links you up with other investors and lets you trade securities, like cryptocurrency, between each other. An exchange will often also allow you to directly exchange one currency for another, even using your fiat currencies to buy Bitcoin Cash in South Africa.
While an exchange is a great way to trade directly with others and get access to the crypto itself, there are other ways to invest in Bitcoin Cash. Many brokers offer crypto trading as well, often in the form of derivative trading.
In this case, you are not holding the asset or exchanging it for another, but rather investing your capital on potential price changes of these underlying assets.
How to start investing in Bitcoin Cash (BCH)?
Whether you use an exchange or an online broker, there are plenty of options to buy Bitcoin Cash.
While there are benefits to owning the asset yourself, in cryptocurrency investing this can be a risky position to take. The crypto assets are very volatile still, as they slowly make more real-world impact, and can see large price swings all the time.
With derivative trading this is still a risk, however, you are able to limit the amount of investment you make much more easily than directly buying the assets. This allows for smaller investments more regularly, enabling more risk management.
Derivative trading also has the benefit of leverage, which the brokers offer their clients to help boost their investment potential.
How to register?
Registration is an easy process, for both brokers and digital assets exchanges.
Investors are simply required to fill in a few of their details on the website of the chosen platform. This entire setup takes less than a few minutes, after which you will have access to the system and the investment opportunities therein.
How to open a demo account?
A demo account is a common feature among online brokers. It is much less likely to be available on any exchange you use. The benefit of a demo is that it allows investors to test out the platform and the trading experience.
You can start trading on Bitcoin Cash before you even make your first deposit and get the hang of it before real money is on the line.
How to open a real account?
A real account on both a broker and an exchange begins with making that all crucial deposit.
Regardless of which platform you use, you will require some form of capital to make your investments. This is from your personal finance and will be what you use to either buy other currencies or trade on their price value.
How to fund a deposit?
On these professional platforms, making a deposit is a very secure and protected process. You will often be presented with a range of payment services you can use to make such a deposit.
These will let investors from South Africa use their bank accounts on the platform, even if they have to use a third-party wallet beforehand.
Minimum deposit amount
Most trading platforms have a set limit to how much you can deposit at the minimum.
This is often because of the cost of managing these transactions, so to reduce the number of transactions they push users to invest more at any one time. The important thing here, is to make sure you are using a platform that lets you invest at a level you feel the most comfortable.
How to withdraw money?
Both deposits and withdrawals will usually take advantage of some of the most popular payment methods available. These facilitate transfers of funds between the bank of your choosing and the platform itself. It is important to know how the withdrawals specific to your platform work in order to invest effectively.
Security of Bitcoin Cash (BCH) investments
While Bitcoin Cash has the name of Bitcoin, it is not the same currency.
BCH has tried to fix some of the foreseen problems with their predecessor, however this has come at the cost of less security. Still, there is a good amount of interest in Bcash and opportune investments can earn investors significant profits.
How safe is it to invest in Bitcoin Cash (BCH)?
Safety is a top concern for all investors as well as the platforms they use to do their investing. As a result, the top brokers and exchanges all have very high levels of security to keep their clients safe while they invest. This protection is made clear to anyone that visits the platform.
Is it safe to invest in Bitcoin Cash online
As long as you make sure the platform you use is a reputable and trustworthy one, you will be able to invest with complete peace of mind. There are many protections in place for those using the best platforms.
This includes high encryptions for sensitive information and even insurances protecting clients against worst case scenarios.
How to safely invest in Bitcoin Cash online?
Pick a reliable online broker or exchange. Make sure you visit their authentic website whenever you wish to make a trade, or even use their preferred application if possible.
Generally, practice safe internet navigation and maybe protect your computer or phone with anti-virus software to be ultra-careful.
FAQ:
Can you buy Bitcoin Cash?
At an exchange or through other online sites you can buy Bitcoin Cash. An exchange is one of the preferred options because you can then use that crypto to trade with others for different currencies, including fiat.
Is Bitcoin Cash a good buy?
Like with any crypto, there is a good deal of volatility with BCH. Having the name and association with Bitcoin is definitely a benefit to this asset, however. Whether or not this is the right investment is up to you, your financial situation and how much you can predict the future movements of this currency.
Is Bitcoin Cash a good long term investment?
Blockchain is a powerful invention and will very likely see even further development down the road. All the same, many cryptocurrencies struggle with volatility in the market and see large price movements regularly. For investors, this is both a blessing and a curse, for there is a lot of risk but a lot of potential for profits.
Where can I buy Bitcoin Cash?
You can buy BCH through specific crypto vendors or through an exchange. In these cases, you can spend regular fiat currency to buy Bitcoin Cash instantly. The alternative is to trade other crypto securities for the chosen BCH.
How do I buy Bitcoin Cash with a credit card?
The internet has almost infinite potential at this point, with all manner of asset available online. Through an accredited exchange or vendor, you will be able to buy crypto with a credit card, or even debit card, and using fiat currency. Ensure they have access to Bitcoin Cash, and you are good to go.
How to buy Bitcoin Cash in South Africa?
There are several online exchanges and even brokers that can help you purchase Bitcoin Cash in South Africa. Ensure you review the chosen platform before you buy to make sure they are operating within the required regulations.
What happened with Bitcoin Cash (BCH)?
Recently, Bitcoin Cash has seen another hard fork, resulting in two further splits in the crypto. Both Bitcoin Cash ABC and Bitcoin Cash Node are the resulting securities that came from this split. These radical changes affect the market consensus on the specific cryptos and can result in a significant swing in value in either direction, depending on how it is received.
Why did Bitcoin Cash (BCH) drop?
Recently, the value of BCH has seen a notable decline. This is mainly due to the reduced security of this crypto, relative to Bitcoin. This decline has also made it less profitable for the miners to create the crypto coins, leading to a further drop in price of the asset. To help their growth, BCH must demonstrate to the public proof-of-work relating to their benefits over Bitcoin.
Why did Bitcoin Cash (BCH) rise?
While BCH does encounter some concerns around its security, at least when compared to Bitcoin, it was created for a reason. This was to help improve the scalability of the cryptocurrency in managing large amounts of transactions. The reason BCH continues to see some growth and interest is because it combats this scalability problem effectively.
