what is bitcoin cash (bch)?
bitcoin cash is a cryptocurrency that was created as a result of a bitcoin hard fork in August 2017.
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bitcoin (btc) was invented as a peer-to-peer cryptocurrency for everyday transactions. As the bitcoin network grew over the years, it became a store of value, rather than a currency.
Reading: Buy bitcoin cash instantly
the main problem that stood in the way of bitcoin becoming a user-friendly cryptocurrency was its very small block size of 1mb. While the popularity of the bitcoin network was on the rise, it could not handle the increased number of transactions. pending transactions were queued as time went on because the larger number of transactions didn’t fit into the 1mb blocks as fast as they used to. Due to this limitation, bitcoin was unable to become a widely adopted currency for regular daily use.
The bitcoin cash (bch) hard fork was introduced to solve bitcoin’s scalability problem so that it could become a widely adopted payment cryptocurrency. it has a significantly larger block size of 8mb and 32mb. While the average number of transactions per btc block was between 1,000 and 1,500 when bitcoin cash was introduced, the number of transactions on the bch blockchain was over 25,000 per block.
bitcoin cash uses the same proof-of-work consensus mechanism as the original bitcoin network. at the time of the bitcoin cash hard fork in 2017, any wallet holding bitcoin received an equal amount of bitcoin cash, making the total supply of bitcoin cash equal to that of bitcoin at 21 million.
bitcoin cash is also known as bitcoin cash abc to distinguish it from its successor hard fork called bitcoin cash sv.
how to buy bitcoin cash with credit card?
If you have a cex.io account and a credit card in your name, you can buy bitcoin cash instantly.
If you don’t have a cex.io account yet, you can register one here.
Once you have created and verified your account, you must link your credit card to your cex.io account by clicking the cards button at the top of your cex.io account home page.
On the next page, enter your card number, expiration date, and cvv code. Once you click the continue button below, your credit card will be linked to your account. cex.io accepts visa and mastercard credit cards.
buy bch instantly
Using the instant purchase service on cex.io, you can buy crypto instantly with a credit card. cex.io offers more than 100 cryptocurrencies to its users. with cex.io you can buy bitcoin with your credit card, or you can buy ethereum.
To buy bitcoin cash with your credit card, you just need to follow the simple steps below:
1. click the spot trading button in the top left corner of your homepage, next to the cex.io logo. in the dropdown menu that appears, you need to click the instant buy button below the listing for everyone.
2. once you click on the instant buy button, the following page will open. The default option is to buy bitcoin (btc) by credit card, but there is a dropdown menu to buy other cryptocurrencies like bitcoin cash (bch).
3. once you select bch from the left dropdown, you will have the option to purchase this cryptocurrency in three available fiat currencies, usd, eur, and gbp, which are listed in the right dropdown.
4. the instant buy feature on cex.io allows you to quickly buy bch of various predefined amounts which you can see on the screenshot below. If there is a different amount of BCH that you would like to purchase, you can click on the box titled your amount. Here you can enter the amount of BCH you want to buy or you can enter the amount you want to buy in fiat currency.
5. once you click the buy button, the following page will appear, giving you the details about your purchase, along with the credit card fee you need to pay (2.99%). your purchase will be finalized after clicking the buy now button.
Buying cryptocurrency through the instant buy feature typically takes less than two minutes when you have a credit card registered to your cex.io account. with your credit card, you can also buy binance coin, buy dogecoin or sell bitcoin.
how to buy bitcoin cash with a debit card?
If you don’t have a credit card, you can also buy bch with your debit card, which is as easy as buying with a credit card. Most banks and other payment service companies support automatic conversion of funds, so you can link a debit card issued in any fiat currency.
Please note that banks and payment service companies often charge additional fees for instant currency conversion with your debit card.
Linking a debit card to your cex.io account requires the same steps as linking a credit card. Once you have linked your debit card to your cex.io account, you can go to instant buy and buy crypto with a debit card instantly.
where to get bitcoin cash cryptocurrency in usa uh?
Although many popular cryptocurrency exchanges offer bitcoin cash for your u.s. Clients, you should be aware that not all exchanges are regulated in the United States. cex.io is a regulated crypto trading platform registered with fincen in 48 states as a money service business (msb). Considering that, cex.io is probably the best place to buy bch online in the usa. uu.
the best way to buy bitcoin cash
Today there are a lot of different platforms to buy and sell cryptocurrencies. You can buy and sell on cryptocurrency exchanges, you can buy peer-to-peer directly from other cryptocurrency users on the web, or you can also buy cryptocurrency at an ATM that offers cryptocurrency payments.
When you choose to buy cryptocurrencies like bitcoin cash on a cryptocurrency exchange, there are several factors you need to consider:
a cryptocurrency exchange with a simple user interface can save new crypto traders a mountain of headaches down the road, as well as numerous hidden fees on their trades.
cex.io offers a very user-friendly interface with all the necessary menus and buttons visible at a glance. Plus, the detailed guides and educational blog articles can help you master crypto like a pro.
Because of the simplicity of cex.io, you’ll quickly discover how to buy bitcoin cash with usd when you sign up for a cex.io account in the us. uu.
fiat and supported cryptocurrencies
A rich list of available currency pairs allows cryptocurrency traders to optimize their trading and investment activities. cex.io supports over 100 cryptocurrencies including btc to usd. check out our live cryptocurrency prices!
should i buy bch coins?
although bch’s goal was to take control of bitcoin as the global payment cryptocurrency, it has so far failed significantly in its attempt. bitcoin cash has only been accepted as a form of payment in a very limited number of outlets around the world, while other major cryptocurrencies like bitcoin, ethereum, and even dogecoin have managed to do the same, which doesn’t make it a success individual for bitcoin cash. .
Regardless of its past, if your research suggests that bitcoin cash may yet become a globally adopted payment cryptocurrency in the future, you can start buying bitcoin today. We are still in the early days of cryptocurrency, so any major cryptocurrency like bitcoin cash has a chance of receiving global adoption in the next few years.
On the plus side, bitcoin cash is a very scarce cryptocurrency with a total supply of only 21 million bch coins. Astronomical levels of money printing for all major fiat currencies over the last few years and rising rates of inflation may trigger equally astronomical increases in the value of cryptocurrencies like bitcoin cash. bch could be seen as a hedge against fiat currency, considering its limited and fixed supply. Scarce assets almost always appreciate over the long term against assets with unlimited supply, since such assets can be replicated in infinite amounts.
After reaching its all-time high of $4,650 per coin on December 17, 2017, bitcoin cash has not reached a new all-time high price. it hit a lower high of $1,600 during the may 2021 market high. however, the bch price has retraced 80% from those levels since then, so at roughly $320 per coin as of feb 28, the bitcoin cash can be considered at a deep discount. Considering that, buying bch could at least give you a good short-term trading opportunity.
how to invest in bitcoin cash?
You can invest in bitcoin cash by buying it on cex.io. you can buy bch on cex.io by giving a limit or market order.
A limit order is an order to buy an asset below the current market price or sell it above the market price. you place a buy limit order when you think the price of a cryptocurrency is too high right now and you think it will be cheaper in the future, so you want to take the opportunity to buy it cheaper later.
This is how you can place a buy limit order for bch on cex.io:
- click the spot trading button in the top left corner of the home page.
- on the dropdown menu that appears, click spot trading again, which will take you to the spot trading page.
- on the spot trading page, click Click in the search field on the left and type bch.
In the search results, you will find the available quote currencies with which you can trade bch. BCH trading pairs include BCH to USD, BCH to EUR, BCH to GBP, BCH to USDT, and BCH to BTC. click on the currency pair you would like to place your limit order to buy bch.
your limit order will be fulfilled as long as the bch market price reaches your bid price.
If you don’t want to wait to buy bch at lower prices but would like to buy it at the immediately available market price, you can place a market order on cex.io. The instant buy feature we discussed earlier allows you to buy BCH on a market order using your credit or debit card. the instant buy service is the fastest way to buy bch at the available market price.
where to store bch?
When you buy crypto on any exchange, your coins are held in your wallet on your exchange account, and you can choose to leave them there as a bank account or a traditional investment account. however, storing your cryptocurrency assets in your exchange account leaves you vulnerable to potential exchange attacks.
the benefits of storing your bch on cex.io
Despite that risk, reputable cryptocurrency exchanges that have stood the test of time, like cex.io, offer their investors very advanced security measures.
For example, cex.io stores its customers’ funds in offline cold storage, which consists of offline digital vaults that are never connected to the internet. Because of that, external hackers or other malicious parties can never access those funds.
You can also trade your crypto assets whenever you want, anywhere in the world by leaving your bch coins in your cex.io account.
Alternatively, you can store your BCH coins in a non-custodial wallet. A non-custodial wallet is a type of physical or software cryptocurrency wallet, which can only be accessed by its owner. in that sense, a non-custodial wallet can never be in the custody of cex.io. there is no middle man who has the ability to access a non-custodial wallet on your behalf.