A Step-by-Step-Guide on how to buy Bitcoin Cash (BCH)
Step 1 – Signup to CEX.io You'll first need to buy units of the bigger coins. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Follow the Link below to register and receive your ETH (Ethereum) or BTC (Bitcoin).
Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange Your Bitcoin or Ethereum has to be sent over to an Crypto Trader now. Every exchange has a deposit form that is alike. Bitcoin Cash (BCH) is available on Binance, so we're going to use that as an example. Not sure on how to send Coinbase funds to an Crypto Trader? (Follow this how-to) Make sure you've selected the right coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etc. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our guide).
Step 3 – Find Bitcoin Cash (BCH) As soon as your deposit has been affirmed, you'll instantly have access to your finances and you can commence purchasing and trading. To buy Bitcoin Cash (BCH) on Binance, you'll want to hover over the ”Exchange” tab and then click on “Basic”. In order to find Bitcoin Cash (BCH), you will need to insert the short name of the asset (BCH) into the search-box, which is highlighted in the picture. Be certain of having selected the right pairing, we've highlighted this too. Click on “BCH/BTC” to proceed.
Step 4 – Purchase Bitcoin Cash (BCH) Once you have discovered Bitcoin Cash (BCH), you'll be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the picture). For now we're making our own Limit Order. The ”Price” field will be filled with the most recent valuation Bitcoin Cash (BCH) was traded for. This can be changed to your preferred rate. The field with the “Amount” tag is the quantity of BCH you wish to purchase. The ”Total” field is the total price in BTC that you'll pay for the complete quantity of BCH. When you are glad, make a mouse click on “Buy BCH”. Your order will be filled when a Vender sells their BCH for the price you gave.
Step 5 – Withdraw Bitcoin Cash (BCH) Unless you are frequently trading, you should never keepyour crypto coins on an Cryptocurrency Exchange for an extensive time frame. In order to withdraw your Bitcoin Cash (BCH), hover over the tab called “Funds” and mouse click on “Withdraw”. Bitcoin Cash (BCH) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Bitcoin Cash (BCH) by using the provided drop-down box. Enter the volumen of Bitcoin Cash (BCH) you would like to take off. Take into account the demonstrated fees/minimums. Also make sure you have filled your correct withdraw address. If you're glad, make a mouse click on “Submit”. You may be asked for verfication via phone/email ahead of a withdrawal.