Should I Buy Bitcoin Cash (BCH)? Where to Buy Bitcoin Cash?

Bitcoin Cash (BCH or BCash) surged 40% in a single day in August to its highest since the day after Bitcoin split into bitcoin and bitcoin cash. Now Bitcoin Cash has made some movements, should you buy Bitcoin Cash now? Where to buy Bitcoin Cash if you haven’t gotten the free ones from the split?

Should I Buy Bitcoin Cash (BCH) Where to Buy Bitcoin Cash

Disclaimer: The content below should not be taken and viewed as investment advice, but only information and opinions. This article is for information and illustrative purposes only.


Should I Buy Bitcoin Cash (BCH)?

BCH is a project that aims to bring their specific vision of what Bitcoin should be to the fore. All projects start with one vision, and of course, over time such a vision can change. Bitcoin itself is an example of that. BCH claims to be a return to the original vision of Satoshi.

Bitcoin Cash is slightly different from Bitcoin and it is nearly identical to Bitcoin. There is no technical innovation behind Bitcoin Cash. It is an exact clone with a few changed settings:

  1. It won’t implement SegWit; and
  2. It has an 8MB blocksize.

Bitcoin Cash transactions will be a lot faster because there is enough block space to handle all the outstanding transactions at any given time.

Further reading: What Is BCash (Bitcoin Cash)? Is BCash Worth Buying for Investment?

Bitcoin Cash’s price spiked in August because Bitclub Network mined an 8MB block on the Bitcoin Cash blockchain. That block cleared over 37,000 transactions!

The mining profitability of Bitcoin Cash (BCH) has just passed that of Bitcoin (BTC). The result of this shift in mining profitability is already visible in the value of BCH, which has risen over 100% in the span of a few days, from $300 to $700 in August. It’s kind of turnaround happening in Bitcoin world.

Update (11th November 2017), Bitcoin cash has spiked above $1,000.

Should I Buy Bitcoin Cash (BCH) Where Buy Bitcoin Cash

You can get your Bitcoin Cash now on Binance.

In our honest opinion, Bitcoin Cash is here to stay. Look at the Ethereum and Ethereum classic split. Both ETH and ETC are doing great separately. Bitcoin and Bitcoin Cash will each march along their ways.

Another reason for the recent rise in Bitcoin Cash’s price is its increased availability on exchanges. The more available something becomes, the more potential buyers it has. Bitcoin Cash has been added to many exchanges, allowing more people to be able to purchase it.

If BTC really needs to hardfork again, we think then most people will have realized that BCH was the right path to take.

Bitcoin may be winning the battle for investment dollars, but when it comes to attracting mining power, competition is heating up.

At the time of writing, the mining profitability difference between both chains is just 8%. With the next BCH mining difficulty adjustment kicking in soon, the tables may turn yet again. It is possible mining BCH may become more profitable compared to Bitcoin.

Miners tend to focus on virtual currencies which are profitable at the time given the resources utilized in the process.

Source: https://cash.coin.dance/blocks

Other than that, Bitcoin Cash has witnessed growing support from exchanges and wallets since the existence of Bitcoin Cash.

“The community is growing in India and China, I am witnessing it first-hand via the data we collect. I think BCH will continue to rise in price as more users adopt it and miners point their hashing power towards it” said Amith Nirgunarthy, CEO Blockstreet.

Where to Buy Bitcoin Cash?

At the time of writing, Bitcoin Cash (BCH) is available for Bitcoin through major exchanges like Bittrex, Bitfinex, and KrakenUsers interested in purchasing BCH with USD on an exchange may visit these exchanges.

If you would like to buy BCH through Bitfinex, follow their instructions for setting up an account and depositing funds.  As Bitfinex offers a different environment for acquiring BCH in a way that you must buy it by fulfilling other traders’ sell orders. This means that prices may vary, sometimes widely.

What Is BCash (Bitcoin Cash) Is BCash Worth Buying for Investment

There are very few direct fiat gateways into BCH, for those who reside in countries that don’t have direct access to BCH. That means the vast majority of people who buy BCH did it with Bitcoin. Bitcoin is the first coin that most people buy so it’s hard for a different crypto to overtake the value.

STEP 1: Create A Bitfinex Account

The registration process in Bitfinex is super fast & easy. Less can be said about interpreting their dashboard, but it’s not the worst. Once, you’re approved here, we’ll get to the good stuff.

STEP 2: Buy Bitcoin

There are many ways to buy Bitcoin. Perhaps the easiest way is through Coinbase or Coinhako. Once you have purchased some Bitcoin, you are ready to buy some BCH! Buying Bitcoin is straightforward.

Registration is pretty straightforward, requiring things like your name, email, and a verification of your identity (eg: pictures of your driver’s license, etc). Once your account is created and verified, you’ll need to add a funding source like a bank account and/or a debit card. Once this is set up, you can buy some Bitcoin.

The reason I encourage my readers to buy BTC from Coinbase because you will get $10 free BTC once you trade your first $100 through Coinbase.

Coinbase

 

You can read the full article on Coinbase and Coinhako.

Those in Europe will use a euro exchange like Kraken, while those in Japan will use a yen exchange like Coincheck, etc.

STEP 3: Transfer Bitcoin to Bitfinex

Go to Bitfinex “Wallets” from on the top right menu.

Here, you’ll see a list of currencies and you need for “Bitcoin.”  When you find Bitcoin, click the + icon to open a lightbox in which you will generate a Bitcoin wallet address.  Once you’ve done this, copy that long string of letters & number.

What Is BCash (Bitcoin Cash) Is BCash Worth Buying for Investment buy

Now, go back to Coinbase.  Here, you’ll navigate to the Send/Request tab.  Now paste the Bitcoin deposit address you got from Bitfinex into the “Destination” box and type in the amount of Bitcoin you want to send. You can opt to either move all of your Bitcoin or some fraction.

What Is Antshares? Should I Buy Antshares? Where to Buy Antshares?

Just one click and your funds should be on their way to Bittrex. It will take a bit of time, perhaps 15 minutes or more, for your Bitcoin transfer to complete.

Step 4: Trade Bitcoin for BCH on Bitfinex

To trade your Bitcoin (BTC) for Bitcoin Cash (BCH):

  1. Check the price of BCH in real time (1-minute), and when you are happy with the price, say 0.10365 (BCH/BTC) as shown in the below figure.
  2. Click the “Limit” and change to “Market”. This means you are calling the platform to generate the latest bid price.
  3. Then, key in the number of BCH you want to buy. This example, I key in 100000 BCH.
  4. Click “Exchange Buy”.

You just exchanged Bitcoin for BCH. Be aware that there often isn’t much BCH for sale at the very lowest price, so you may need to repeat steps 1-3 a few times until all your Bitcoin is exchanged.

What Is BCash (Bitcoin Cash) Is BCash Worth Buying for Investment buy

You then can check your wallet again and see the amount of BCH you have just purchased.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

maillot de foot pas cher vente maillot de foot pas cher cheap nfl jerseys maillot de foot pas cher maillot de foot pas cher maillot de foot pas cher