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 Funds to an Exchange Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Crypto Trader now. Every exchange has a deposit form that is alike. Bitcoin Cash (BCH) is available on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Exchange? (Follow these easy steps) Make sure you have chosen the precise coin you would like to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so forth. In the case you are using a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our manual).
Step 3 – Find Bitcoin Cash (BCH) As soon as your deposit has been confirmed, you'll now have access to your finances and you can start buying and trading. To invest in Bitcoin Cash (BCH) on Binance, you'll want to go to the tab which is called “Exchange” and then click on “Basic”. In order to find Bitcoin Cash (BCH), you'll need to insert the short name of the asset (BCH) into the search-box, which is marked in the picture. Be certain of having selected the right grouping, we've highlighted this too. Click on “BCH/BTC” to continue.
Step 4 – Acquisition of Bitcoin Cash (BCH) After you've spotted Bitcoin Cash (BCH), you'll be presented with a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we're going to create our own Limit Order. The field with the “Price” tag will be filled automatically with the most latest valuation Bitcoin Cash (BCH) was sold for. This can be changed to your preferred rate. The ”Amount” field is the amount of BCH you wish to purchase. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the whole volumen of BCH. When you are satisfied, click on “Buy BCH”. Your plan will be filled when a Seller sells their BCH for the price you submitted.
Step 5 – Withdraw Bitcoin Cash (BCH) Unless you are frequently trading, you should never keepyour crypto on an Exchange for an extensive time frame. In order to take off 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 instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate Bitcoin Cash (BCH) by using the provided drop-down box. Put into the volumen of Bitcoin Cash (BCH) you would wish to take off. Take into account the demonstrated minimus/fees. Also make sure you have entered your right withdraw address. When you're satisfied, click on “Submit”. You may be requested for verfication via email/phone ahead of a take off.