1st August 2017 was a turning point in the history of the most popular web money. As a result of BTC scalability arguments, the hard fork took place and a new blockchain was developed. That is when Bitcoin Cash was created.
Turning to the history, everything was okay when the number of transfers was not so high. Though, once more and more people started sending and getting money at the same time, the size of the block of 1MB caused some problems. Not all transactions were immediate and there occurred queues. Some users had to wait for confirmation for several days.
In order to solve the situation, there were offered several ways out. Though, the final point became the creation of Bitcoin Cash. Here are some outstanding advantages of the solution, which will show you why this crypto currency is more convenient and why you should buy it.
- The size of block is 8 MB
- The market cap is $1,545.55 USD, as of today
- The replay protection is assured by a new signature hashing algorithm
- The transaction fees are about $0.20
Best Ways to Buy Bitcoin Cash
Today, one can use this peer-to-peer electronic cash for various purchases, starting from a cup of coffee up to business related transfers. Though, before any transactions can take place, you should buy this very currency. Nowadays, there are provided numerous different methods of getting BCH. Each of them has its personal terms, details, specialties and conditions. Once you already use any banking methods, the selection can be as simple as that.
For those, who are still searching for a payment, we have analyzed the top options. Go ahead, read the survey and find out which method matches your best. Here’s a step-by-step instruction, and such aspects as availability, time frames, fees and more.
Credit Card
Using a credit card for buying BTC used to be really hard, and the same referred to BCC. Fortunately, starting with the middle of December 2017, it became possible and easy to own the coins fast and with no difficulties. There exist such exchange houses as CEX IO, Changelly, Kraken, BitBay, CoinEx and others. Launching one of them, you can select the payment method (Visa or MasterCard in this case) and the sum you want to covert.
There, you will see how much electronic money you will receive as a result. The scenario is pretty simple. You enter a site, create an account, link your CC adding some information (CC number, expiration date, CVC, etc.), confirm the transfer and buy BCC instantly. Whether there’re any taxes, that depends on the service you use. So, check out the conditions first.
Purchase Bitcoin Cash with Other Cryptocoin
Speaking about crypto-crypto conversion, everything is even faster and simpler. Once you have one e-money and want to obtain Bitcoin Cash, you can use a range of special web services. Binance, Bittrex, Changelly, Poloniex, CoinEx and others will match perfectly for the operation.
Though, before picking an exchange site, you are to buy Bitcoin or Ethereum, which you will transfer later. There are also special portals, entering which you can complete the procedure with cash, e-wallet, etc. This kind of acquisition is instant and provides no or very low duties.
E-Wallets
As the digital money is still very new and is only several months old, there are not so many ways to buy it directly. The same is with electronic wallets, such as PayPal and Skrill. Until the development of the modern web currency reaches the multi-way sale point, there are other methods to be utilized.
The easiest recipe is to own BTC first. This is much more convenient, cause there are numerous resources, allowing you to buy crypto coins via various e-wallets. Once you have the beans, use any converting service in order to exchange them into Bcash.
Buy BCH with Cash
Unfortunately, the situation doesn’t change much when speaking about cash purchases. There exists no straight opportunity to complete the procedure. There are not even any ATMs, which support such kind of acquisition. You are to get BTC again.
For this very reason, using special services find a seller, who is ready to accept cash. Then, you pick the sum you want to obtain and get a profile number. Once the deposit to the seller’s account is completed, you receive the digital coins and you can exchange them for Bcash.
Manual on Buying Bitcoin Cash on Exchanges
As you see, most ways of procuring Bcash lead to special exchange houses. One of the most popular services of the kind is CEX IO, which allows you to covert web money fast and win min requisites involved. Though, using the site also has its personal scenario.
First, you are to form an account, and when you click the ‘Register’ button, you are to select which crypto money you want to own and which currency you are going to use for that. Only after that you are to provide your e-mail, password and the phone number (or you can link your social network profile).
Get a confirmation code to your email and enter it on the site. This is a kind of verification to let you buy coins. Now, you are to enter some information about your credit/debit card or bank transfer, and accomplish the operation. Besides, you can even select whether to keep the e-money on your wallet or on the exchange house.