To buy and sell Bitcoin Cash (BCH), you have to understand the processes involved. Of course, you can’t just jump in and get your own crypto coins right away. There are steps that you have to follow in order to get crypto coins of your own without any hassles. We take you through each step and discuss the important points to make sure you start your own BCH experiences on a positive note. After learning what is Bitcoin Cash, you can move forward to the mechanics of buying and selling.
Buy Bitcoin Cash
The basics of buying Bitcoin Cash begins with you creating an account with an email address, confirming the account via email, funding the account, and using the funds to buy BCH. Most platforms follow this framework, but you have to keep in mind that there might be some that involve additional steps.
After making an account with your preferred Bitcoin Cash exchange and depositing funds into your account, you are now authorized to place a buy order. The exchange platform will then match your request to a seller and facilitate the trade. In some instances, you can buy directly from the exchange if your budget meets their asking price–this is how most exchange platforms operate. Lastly, simply wait for the funds to get credited to your account and you’re good to go.
Sell Bitcoin Cash
On the other hand, if you want to let go of your BCH coins, you can do so through the same exchange platform. The process of selling involves almost the same set of steps when buying, but this time you play the role of the seller. To sell, indicate the price you want to sell your Bitcoin Cash for and wait for the exchange to match you with buyers. The time it takes to complete a transaction may change from one exchange to another, so keep that in mind when choosing a platform beforehand.
The right Bitcoin Cash exchange
There are a few key points you have to keep in mind before you buy and sell Bitcoin Cash, and finding the right exchange is on top of the list. Before attempting to fill up your Bitcoin Cash wallets with a BCH or two, you have to know that not all exchanges can provide the same level of services. Therefore, looking into each and every option is best before anything else.
Try to find an exchange that lets you buy BCH using the payment method of your choice. Of course, most reputable platforms will have the usual options like credit and debit cards, PayPal, and even direct bank transfers. To avoid further transaction delays, it’s best if you find an exchange that caters to your payment needs.
Next in line is the time it takes for transactions to finish. No one wants to go through lengthy processing times, which means you have to make sure that the exchange does a good job in keeping prompt transactions all throughout. To check, you can deposit a small amount, buy a relatively small amount of BCH, and withdraw it right after. This gives you an idea of a platform’s transaction services.
Lastly, find first-hand user reviews of the exchange through information pages. You can also ask around and see what experienced Bitcoin Cash users have to say about particular exchanges. It’s always good to look for a respectable platform to buy and sell Bitcoin Cash in.