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 Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Exchange now. All exchanges have a deposit form that is alike. Bitcoin Cash (BCH) is obtainable on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Exchange? (Just follow this manual) Make sure you have chosen the exact coin you wish to deposit. BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, etcetera. If you're using a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our manual).
Step 3 – Locate Bitcoin Cash (BCH) Once your deposit has been approved, you'll instantly have access to your funds and you can initiate invest and trading. To buy Bitcoin Cash (BCH) on Binance, you'll want to go to the ”Exchange” tab and then mouse click on “Basic”. To locate Bitcoin Cash (BCH), you will need to insert the short name of the asset (BCH) into the search box, which is highlighted in the image. Make sure you have selected the right pairing, we've marked this too. Click on “BCH/BTC” to go ahead.
Step 4 – Purchasing Bitcoin Cash (BCH) Once you have spotted Bitcoin Cash (BCH), you will be presented with a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the picture). For now we are going to make our own Limit Order. The field with the “Price” tag will be automatically filled with the most latest rate Bitcoin Cash (BCH) was traded for. This can be changed to your favoured rate. The ”Amount” field is the quantity of BCH you like to buy. The ”Total” field is the total price in Bitcoin that you will settle for the whole quantity of BCH. When you are happy, click on “Buy BCH”. Your order will be filled when a Seller trades their BCH for the price you gave.
Step 5 – Withdraw Bitcoin Cash (BCH) Unless you're regularly trading, best advise is not to keep crypto on an Exchange for an longer time period. In order to take off your Bitcoin Cash (BCH), hover over the tab called “Funds” and click on “Withdraw”. Bitcoin Cash (BCH) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Bitcoin Cash (BCH) by using the given drop-down box. Enter the quantity of Bitcoin Cash (BCH) you'd like to take off. Take into account the shown fees/minimums. Also make sure you have filled your precise withdraw address. If you are satisfied, make a mouse click on “Submit”. You could be asked for verfication via phone/email ahead of a withdrawal.