A Step-by-Step-Guide on how to buy Bitcoin Cash (BCH)
Step 1 – Join Kraken You will first need to buy units of the bigger coins. Exchanges usually accept either Bitcoin or Ethereum in exchange for alternative Coins. Click the button below to register and receive ETH (Ethereum) or BTC (Bitcoin).
Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader Your Bitcoin or Ethereum has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is alike. Bitcoin Cash (BCH) is obtainable on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Just follow this manual) Make sure you've selected the exact coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so forth. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be different (Follow our how-to).
Step 3 – Locate Bitcoin Cash (BCH) As soon as your deposit has been confirmed, you will directly have access to your finances and you can initiate buying and trading. To buy Bitcoin Cash (BCH) on Binance, you'll want to go to the ”Exchange” tab and then click on “Basic”. In order to find Bitcoin Cash (BCH), you will need to put the shortname of the coin (BCH) into the search box, which is marked in the image. Be certain of having selected the correct pairing, we've marked this also. Click on “BCH/BTC” to continue.
Step 4 – Purchase Bitcoin Cash (BCH) Once you have located Bitcoin Cash (BCH), you will be given a Price Chart (in the Center of the image) and some Order Books (Leftside of the picture). For now we're going to create our own Limit Order. The ”Price” field will be filled with the most recent tariff Bitcoin Cash (BCH) was traded for. You can change this to your desired rate. The ”Amount” field is the volumen of BCH you want to purchase. The ”Total” field is the whole price in BTC that you'll settle for the whole amount of BCH. If you're glad, make a mouse click on “Buy BCH”. Your order will be filled when a Vendor trades their BCH for the price you submitted.
Step 5 – Withdraw Bitcoin Cash (BCH) Unless you are regularly trading, never keep your coins on an Cryptocurrency Exchange for an extensive time period. In order to withdraw your Bitcoin Cash (BCH), go to the ”Funds” tab and click on “Withdraw”. Bitcoin Cash (BCH) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Bitcoin Cash (BCH) by using the provided drop-down box. Drop in the volumen of Bitcoin Cash (BCH) you would wish to take off. Don't forget the demonstrated minimus/fees. Also make sure you have filled your right withdraw address. When you're satisfied, make a mouse click on “Submit”. You could be requested for verfication via email/phone before a take off.