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 – Send Your BTC (Bitcoin) or ETH (Ethereum) to an Exchange Your Ethereum or Bitcoin has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. Bitcoin Cash (BCH) is available on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Crypto Exchange? (Just follow this how-to) Make sure you've selected the right coin you want to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, et cetera. If you are working with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow these easy steps).
Step 3 – Locate Bitcoin Cash (BCH) As soon as your deposit has been confirmed, you will instantly have access to your funds and you can commence purchasing and trading. To buy Bitcoin Cash (BCH) on Binance, you will want to go to the tab which is called “Exchange” and after that mouse click on “Basic”. To locate Bitcoin Cash (BCH), you'll need to insert the shortname of the coin (BCH) into the search box, which is marked in the image. Be certain of having selected the proper pairing, we've highlighted this also. Click on “BCH/BTC” to go ahead.
Step 4 – Acquisition of Bitcoin Cash (BCH) Once you have found Bitcoin Cash (BCH), you'll be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the picture). And now we're making our own Limit Order. The field with the “Price” tag will be filled automatically with the most up-to-date price Bitcoin Cash (BCH) was traded for. You can change this to your desired rate. The ”Amount” field is the volumen of BCH you wish to purchase. The field with the “Total” tag is the whole price in Bitcoin that you'll pay for the whole volumen of BCH. If you're happy, click on “Buy BCH”. Your plan will be filled when a Vendor sells their BCH for the price you gave.
Step 5 – Withdraw Bitcoin Cash (BCH) Unless you're regularly trading, best advise is not to keep your coins on an Exchange for an longer time period. To withdraw your Bitcoin Cash (BCH), go to the tab called “Funds” and click on “Withdraw”. Bitcoin Cash (BCH) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Bitcoin Cash (BCH) by using the provided drop-down box. Enter the amount of Bitcoin Cash (BCH) you would like to withdraw. Take into account the presented minimus/fees. Also make sure you have entered your right withdraw address. When you are glad, make a mouse click on “Submit”. You may be requested for email/phone verification before a withdrawal.
Congratulations! You have successfully purchased and safed Bitcoin Cash (BCH).That's it! Withdrawals from Crypto Exchange can durate anywhere from 1 – 30 minutes (depending on network usage). As soon as you have confirmed your withdrawal using Etherscan.io or Ethplorer.io and the (BCH) Bitcoin Cash is stored within your wallet, you are done.
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