If you’re asking how to get Bitcoin Cash (BCH), the chances are you’ve already gone through the mechanics of purchasing Bitcoin. Perhaps you’ve been watching the popular cryptocurrency go through its blazing bull run over the last month and want to join in its winning streak. Whatever your motives for wanting to get Bitcoin Cash, here are a few things you should know.
Bitcoin Cash has forked again since it broke away from Bitcoin
Unless you were on your holidays around November 2018 when the cryptocurrency universe went into a tailspin, you’ll already know about the infamous Bitcoin Cash hard fork.
Fighting factions inside the Bitcoin Cash camp led to the emergence of two new cryptocurrencies: Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi’s Vision).
Most major exchanges and CoinMarketCap now use “Bitcoin Cash” to refer to the new Bitcoin Cash ABC implementation.
Therefore, before asking how to get Bitcoin Cash, be sure that it isn’t Bitcoin SV you are looking for instead. Taking a quick glance at their latest performances as well as the vision and directions of both cryptocurrencies should be enough to make up your mind.
How to get Bitcoin Cash
Bitcoin Cash is one of the easiest cryptocurrencies to get hold of. Although it isn’t available on popular peer-to-peer site LocalBitcoins, it is listed on all major exchanges. Most people start out their cryptocurrency journey on an exchange like Coinbase or Kraken.
These exchanges are among the most established and secure in the industry and, despite higher fees than other places, are a good place for beginners.
You simply need to open an account, which requires you to upload your photo ID and enter your email, phone number, and a few other basic details.
You can buy Bitcoin Cash with a credit or debit card or you can link your bank account and send the money through a bank transfer (depending on where you live). Then, you can keep your Bitcoin Cash directly in your exchange wallet or you can transfer it to safer storage in a hardware wallet like a Ledger or a Trezor.
You can also get Bitcoin Cash directly from the Bitcoin.com website. As Roger Ver’s brainchild, this website is a long-time proponent of both Bitcoin and Bitcoin Cash and provides readers with a simple page to buy BCH with a credit card.
You simply need to enter the amount of BCH you wish to buy or the amount of your local currency you wish to spend. If you buy from a site like this that is not an exchange, you will need to download a wallet that supports Bitcoin Cash first, so that you have an address to send your private keys to.
Note that you will soon also be able to purchase Bitcoin Cash from the Coin Rivet platform. If you haven’t signed up to find out more information about our launch, be sure to do so!
How to get Bitcoin Cash with Bitcoin or another cryptocurrency
If you’re already in possession of Bitcoin or any other cryptocurrency, you can get Bitcoin Cash by trading directly crypto-to-crypto.
You can either use an exchange like Binance or ShapeShift, your Coinbase, Kraken, or Gemini account, or a quick-exchange platform like Changelly.
Trading Bitcoin Cash with Bitcoin or Ethereum is very simple and can be done on every major exchange.
However, say you have some less well-known tokens and want to change them for Bitcoin Cash. This involves an additional layer of complexity as Coinbase only lists a limited amount of coins.
In this case, one of the easiest ways is to use a platform like Changelly. You simply enter the amount of BCH you want to buy and with which token. This way, you don’t have to change your token into ETH or BTC before changing it to Bitcoin Cash – Changelly does it for you.
You will need a Bitcoin Cash wallet address to send your BCH to, as well as the wallet or exchange where you’re keeping your tokens to send the payment to Changelly. It’s a quick and easy way to exchange tokens and doesn’t require KYC to open an account.
While 2018 was a dire year for most cryptocurrencies across the board, Bitcoin Cash suffered more than most. The hard fork in November 2018 sent the blockchain into an ongoing hash war, and it was uncertain whether just one blockchain would emerge or two new ones would surface. In the end, two new chains continued.
This is crypto though and nothing is certain. The situation can change drastically within minutes. Whichever coin or token you decide to invest in, be sure to carry out prior research and keep your funds safe in a cold wallet offline.