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Buy Bitcoin Cash
We feature the top brokers and exchanges that offer the option to buy Bitcoin Cash (BCH) with a credit card or debit card. For larger sums you can also send a wire transfer. We list exchanges and services based on personal experience, and reputation. Please view the risks associated with bitcoin and cryptocurrency trading at the bottom of this page. Also access our affiliate disclaimer.
How to Buy Bitcoin Cash (BCH) with a Credit Card
What is Bitcoin Cash (BCH)?
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.
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.
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,
- 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.
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.
Bitcoin Cash & BCH Cryptocurrency Trading Risk Disclaimer
There is a very high degree of risk involved in trading securities, and this trading risk is higher with Cryptocurrencies such as BCH due to markets being decentralized and non-regulated. There is no central bank that can take corrective measure to protect the value of Cryptocurrencies in a crisis or issue more currency. You should be aware that you may lose a significant portion of your portfolio.
Securities.io is not a registered broker, analyst, or investment advisor.
All information contained herein should be independently verified and confirmed. We do not accept any liability for any loss or damage whatsoever caused in reliance upon such information or services. Please be aware of the risks involved with any trading done in any financial market. Do not trade with money that you cannot afford to lose. When in doubt, you should consult a qualified financial advisor before making any investment decisions.
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