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How to Buy Bitcoin Cash (BCH)

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Bitcoin Cash (BCH) is a peer-to-peer electronic cash system that is the result of a hard fork from Bitcoin’s blockchain. Notably, Bitcoin Cash is by far the most successful hard fork of Bitcoin to date. This project entered the market under a cloud of controversy. However, after the smoke cleared, Bitcoin Cash emerged as one of the top ten cryptocurrencies in the world in terms of market cap. To learn more visit our Investing in Bitcoin Cash guide.

We list the top 5 exchanges that offer the ability to buy Bitcoin Cash (BCH) cryptocurrency with a credit card or debit card.

Binance

Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing Bitcoin Cash (BCH) here is that you benefit from the lower exchange fees than competing exchanges, and the increased liquidity enables you to buy and sell quickly to take advantage of market moving news.

This exchange is best for Australia, Canada, Singapore, UK & international users. They do not sell Bitcoin Cash (BCH) to USA residents.

Read our Binance Review or visit Binance.

Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

Paybis

Paybis operate a very well-trusted Bitcoin and cryptocurrency purchase platform where you can buy Bitcoin Cash (BCH) and a range of other crypto using nothing more than your credit or debit card. They have been around since 2014 and have helped hundreds of thousands of people to make Bitcoin Cash (BCH) purchases.

If you simply want to buy Bitcoin Cash (BCH) and hold then this is one of the easiest ways to buy Bitcoin Cash (BCH) with a credit card or debit card.

USA residents are welcome excluding the states of Hawaii & New York.

Read our Paybis Review or visit Paybis.

Kraken

Kraken is one of the longstanding names when it comes to cryptocurrency exchanges operating in the industry.

From humble beginnings, they have now gone on to become one of the most recognizable names in the space offering an extensive selection of assets to trade including Bitcoin Cash (BCH).

The trading costs are competitive with other exchanges and they have continued to evolve now offering both futures and margin trading.

This is the best overall exchange for USA residents.

Read our Kraken Review or visit Kraken.

Coinberry

Coinberry is making it easy to purchase Bitcoin Cash (BCH) in Canada with no fuss and buy or sell the asset quickly through their easy to use platform. They have been around since 2017 and have a number of highly-trusted partnerships that set them up with a solid reputation for cryptocurrency. They are also registered with FINTRAC as a Money Services Business, so very trustworthy from that standpoint. No USA customers.

Visit Coinberry.

BitPanda

Launched in 2014 BitPanda quickly established a positive name and reputation for being a great place to easily buy and sell Bitcoin Cash (BCH) in Europe. Since that time they have built on their stellar reputation to expand rapidly to where they now offer trading in a broad range of cryptocurrencies alongside the ability to purchase precious metals and a host of other services.

In total, they offer close to 50 cryptocurrencies you can choose from. This positions them well within the sector particularly among those brokers that facilitate an instant crypto purchase. Included in this range is BEST, a native token that BitPanda themselves has launched.

This is one of the best exchanges in Europe, residents outside of this region are prohibited.

Read our BitPanda Review or visit BitPanda.

What is Bitcoin Cash (BCH)?

Bitcoin Cash is an open-source, decentralized, cryptocurrency.  It was created in August of 2017, when a ‘hard fork’ of the Bitcoin (BTC) blockchain occurred.

What does it do?

Bitcoin Cash functions, primarily, as a digital currency.  The network leverages blockchain technology to facilitate and track transactions through use of a digital ledger.

When used appropriately, BCH allows for cheap (<1cent transaction fees avg.) and quick transfers of value to occur.  These transactions can take place between any network participants, regardless of geographical location.

How does Bitcoin Cash (BCH) work?

Bitcoin Cash is a cryptocurrency built on blockchain technology.  It utilizes a proof-of-work protocol in the same manner as BTC.  When comparing the two, the most notable difference is the approach to scalability.  While the BTC community has decided in favour of smaller block sizes, and developing second layer technologies, like the lightning network, the BCH community has decided that larger block sizes is the way forward.

Currently, average blocksizes on the BCH network are roughly 8mb, while they are roughly 1mb on BTC.

Projected Developments?

Moving forward, Bitcoin Cash has an extensive roadmap laid out.  Each pit stop on this roadmap is centered around the overarching goal of creating a globally used currency.

The following is an excerpt from bitcoincash.org, elaborating on how they will achieve this goal.

  • Enable Bitcoin Cash to scale from ~100 Tx/s to over 5,000,000 Tx/s. Protocol improvements must be made so that mass-parallelization can enable this level of transaction processing.
  • Improving the payment experience to ensure that it is instant and reliable. Transactions should be secure within three seconds.
  • Make Bitcoin Cash extensible. An extensible protocol makes future improvements less disruptive, and provides a solid base for businesses and developers to build on.

Underlying Ideology?

Those that believe in BCH often tout the blockchain as being the closer to Satoshi Nakamoto’s original whitepaper than BTC itself.  As such, it would reason that the underlying ideology behind BCH is one and the same with BTC.  This means the goals of BCH would be as follows,

  • Inclusive
  • Stable
  • Free of government/banking manipulation

Acceptance and Controversies?

Leading up to August 2017, there was only Bitcoin (BTC).  At this time, a controversial change to Bitcoin’s source code was implemented – SegWit.  This change was meant to be an upgrade, allowing for faster and safer transactions to take place.  Not everyone agreed on this path moving forward though.  Others felt as though bigger data blocks, and faster block times, were the best way to achieve the same goal.

This divide between network participants resulted in a ‘hard fork’.  This, essentially, saw the creation of a new blockchain (BCH).  While both BCH and BTC share the same ledger up until that point in time, they are unique from that point forward.

This move was, and continues to be, viewed as quite divisive.  This is partly because many viewed the creation of BCH as simply being a way to ‘create money from nothing’, as the coins were distributed among BTC holders at the time.

While BCH has shown to have staying power, years later, there still remain many strongly for/against the coin.  Today, detractors primarily view BCH as trying to unjustly supplant BTC as the ‘go-to’ cryptocurrency, as BCH often touts itself as the original.

Regulation?

While few regulators have discussed BCH specifically, it is widely viewed as not being a security.  As no token sale took place, and the currency operates in a decentralized fashion, most categorize BCH in the same vein as BTC – a digital currency.

Daniel is a big proponent of how blockchain will eventually disrupt big finance. He breathes technology and lives to try new gadgets.

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