Bitcoin Cash (BCH): How to buy, sell or trade
A beginner’s guide to buying, selling and trading Bitcoin Cash in Australia.
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How to buy Bitcoin Cash
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Bitcoin Cash.
- Open an account on an exchange that supports BCH.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Bitcoin Cash.
- Buy Bitcoin Cash.
Complete your Bitcoin Cash purchase and then find the best wallet to store BCH.
What is Bitcoin Cash?
Bitcoin Cash (BCH) is a fork of Bitcoin (BTC), which means it is similar but different to the original. Bitcoin Cash arose due a disagreement between various Bitcoin stakeholders, who wanted to take the protocol in different directions. As a result the blockchain forked, resulting in two separate blockchains and cryptocurrencies. Bitcoin received the majority of community support and held onto the name, while Bitcoin Cash established itself as a competitor. Bitcoin Cash is designed to facilitate faster and cheaper transactions than Bitcoin.
Bitcoin Cash (BCH) is the 12nd largest cryptocurrency in the world by market cap, valued at $10,286,989,499. The current price of Bitcoin Cash is $546.26, which is 4.057% higher than yesterday. Prices have ranged between $556.67 and $522.44 over the past 24 hours. All prices are listed in US dollars and accurate as of July 31, 2021 09:07 UTC.
Where to buy Bitcoin CashFind an exchange to buy, sell and trade BCH by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Bitcoin Cash at a glance
|Total BCH supply||21,000,000|
|All time high||US$3,785.82|
|All time high date||December 20, 2017|
Bitcoin Cash price performance over time
How to sell Bitcoin Cash
You can cash out your BCH with the same exchange you bought it through:
- Sign in to the exchange you have BCH on.
If you store your Bitcoin Cash in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of BCH you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Bitcoin Cash.
What to consider when buying Bitcoin CashBuying cryptocurrencies is risky. Digital currencies are complicated and speculative assets, and there are multiple factors that can have an effect on the value of any coin or token. Make sure you research and understand the driving forces behind crypto price movements before making a purchase. If you’re thinking of buying Bitcoin Cash, consider the following factors:
- Branding: Bitcoin Cash is not the same as Bitcoin, despite attempts by some to confused new users. As such, do not think of BCH as a cheaper version of Bitcoin, they are distinctly different cryptocurrencies.
- Difference to Bitcoin: The primary difference between Bitcoin Cash (BCH) and Bitcoin is that BCH uses larger (32MB) blocks, which means it can fit more transactions in each block. This makes for cheaper and faster transaction times.
- Distribution: When the hard fork occurred, Bitcoin Cash coins were distributed to all bitcoin holders at a 1:1 ratio. If you held Bitcoin in August 2017 when the fork occurred, you may have unclaimed Bitcoin Cash (BCH) coins in your wallet already.
- Adoption: Bitcoin Cash originated in mid-2017 and has failed to establish itself as the primary Bitcoin blockchain in that time. As such, be wary of the future of Bitcoin Cash, given it’s failure to replace Bitcoin.
- Dwindling usage: Data from blockchain research firm Chainalysis of payments received by 17 of the largest cryptocurrency merchant processing services worldwide revealed that Bitcoin Cash payments diminished by almost two thirds (-65%) between March and May 2018. However, it’s worth pointing out that bitcoin experienced an even larger usage drop (~85%) during the same period.
- Capabilities: During stress tests conducted in September 2018, Bitcoin Cash showed it was capable of handling up to 25,000 transactions per block. This equates to around 40 transactions per second (tps), which is well above Bitcoin’s maximum capacity of around 7.
- So many bitcoins: Bitcoin Cash is one of several bitcoin forks to include bitcoin in its name, with others including Bitcoin Diamond and Bitcoin Gold. Forked coins are viewed with scepticism by many crypto enthusiasts, while there’s also the risk that the sheer number of bitcoin variants available confuses and reduces the number of potential buyers.
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Bitcoin Cash (BCH) in the news
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Disclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.[/fin_hide]
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