The cryptocurrency split off from Bitcoin on August 1, 2017 could develop just as rapidly as Bitcoin. But how can you buy bitcoin cash? There are now numerous platforms on the Internet through which users can purchase the cryptocurrency and trade with it. Our Bitcoin Cash Buy Guide introduces the different options and shows which factors investors should consider when buying cryptocurrencies.
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How Can You Buy Bitcoin Cash? - And why could it be worth it?
Bitcoin Cash is a cryptocurrency that was launched on 1. August 2017 was created. The coin is based on the technology of Bitcoin, which has been since 2009 and was the first cryptocurrency.
The developers of Bitcoin Cash wanted a better Create version of the bitcoin, which enables transactions to be made faster and cheaper, and thereby the growing number of users. Cryptocurrency fans also often refer to Bitcoin Cash as "the true Bitcoin" or "the better Bitcoin". After the spin-off, it turned out that Bitcoin Cash was also sought-after by many users. The course has since grown in value and many experts believe that this will continue to be the case in the coming years. Although cryptocurrency is generally very volatile and an investment should always be viewed as venture capital investment, the high potential of Bitcoin Cash also offers great opportunities for returns, which are not available in this form in classic investments.
Beginners are now quickly faced with the question: "How can you buy Bitcoin Cash?" after you have decided to invest in decided the new cryptocurrency. To answer this question, it is important to first understand the functionality of Bitcoin Cash. The essential component of the cryptocurrency is the so-called blockchain, which is accessible to all users and on which all information is stored. To become the owner of a coin on the blockchain, you need a so-called cryptographic key. This code then enables the owner of Bitcoin Cash to send the crypto money to other users, who in turn receive a cryptographic key for this. The once used key of the original owner becomes worthless and the new owner controls the coin. It is not necessary to always buy a whole bitcoin cash. Smaller amounts up to eight decimal places are also possible.
The cryptographic keys are stored on the wallet of the owner. To receive keys, an online wallet is required; for security reasons, many users then transfer the information to offline wallets, which have no connection to the Internet and so hackers do not Offer access point.
Where can investors invest in Bitcoin Cash - The providers at a glance
Cryptocurrencies can be transferred from user to user at any time. Various offers are available online and now offline to buy the coins for euros or other fiat currencies.
As with the real one Exchange can also be bought and sold on the numerous crypto exchanges at a current and constantly fluctuating price. For this purpose, customers send the corresponding amount to the operator of the crypto exchange, who then credits Bitcoin Cash in return.
Here, users do not buy the cryptocurrency by the operator of the website, but act among themselves. Offers are set, to which other users then react.
Bitcoin Cash can also be traded via CFD. No real coins are acquired, but a contract for differences, the price of which is analogous to the Bitcoin Cash price. A wallet is not required here.
Bitcoin Cash can also be exchanged on site. For this purpose, there are platforms on which the users can find suitable exchange partners and can agree on a price for the planned exchange. Then there is a meeting where the cryptocurrency is usually exchanged for cash.
In some countries, including Austria, cryptocurrencies can also be used in numerous Vending machines can be purchased. Customers receive a code here, which they can then redeem online for coins. So far there are no crypto machines in Germany.
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How To Buy Bitcoin On Cashapp 2020
Buy Bitcoin Cash Instructions - step by step to the first coin
In order to purchase Bitcoin Cash, a suitable provider must first be found. This is where our reviews help, in which we take a close look at the various properties of the individual platforms and show their advantages and disadvantages.
Buy our Bitcoin Cash Instructions now shows step by step how online crypto coins can be bought.
is with many providers For security reasons, registration and subsequent verification using an ID card are required. However, there are also platforms on which Bitcoin Cash can be bought without registration.
If registration is required, the customer must enter the required data in the online form and wait for a confirmation after sending. The now opened account can be used for trading with the cryptocurrencies offered on the platform.
Find a suitable offer:
When trading via a crypto exchange, a binding one applies Course that is displayed live. On the other hand, if the user trades on an exchange platform, he can choose from a variety of offers from other users. These can be filtered according to certain criteria, so that, for example, only offers that can be used with the desired payment method are displayed.
If you cannot find a suitable offer on an exchange platform, you can also create your own. Simply enter the amount for which you want to buy Bitcoin Cash and the amount of coins you want to receive for it. If a suitable trading partner is found, a notification is sent and the transaction can be carried out.
Now the purchased coins still have to be paid. Which payment methods are available depends on the respective platform and partly also on the trading partner. After the money has been received by the recipient, the recipient sends the agreed amount of Bitcoin Cash.
Depending on which platform was used, the amount purchased will be Bitcoin Cash is either credited to the buyer's account or the cryptographic keys are sent directly to their wallet.
Transfer coins to the wallet:
On many platforms, customers now have credit in the cryptocurrency on your account. This should not be stored there permanently because it is better protected on your own wallet. Therefore, the users can now make a payment at which they enter the address of their online wallet, to which the cryptographic keys for the coins are then sent.
If the coins are not credited to a customer account with the platform, but instead be sent directly to the buyer's wallet, this step is omitted.
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Security: How buyers find a trustworthy provider
In our Buy Bitcoin Cash guide, we showed how Bitcoins can be purchased on the Internet. When looking for a suitable provider, it is not only important to ensure that the price is correct and the desired payment options are available, but also that the selected provider Is serious.
How can you buy Bitcoin Cash and be sure not to be ripped off? Our reviews can help here as well, because we also carefully examined the seriousness of the individual platforms.
Most platforms are not regulated, so that the experiences of other users play an even greater role here. In general, care should be taken that payments are made reliably. If this is confirmed by already registered users and the ratings of the platform on the Internet are positive, that is a good sign.
Pay attention to too after purchase on security! Despite strict security precautions, hackers can gain access to crypto exchanges and exchange platforms. Therefore, the purchased coins should not be permanently stored in the trading account, but should be transferred to the own wallet as soon as possible. The safest way to manage Bitcoin Cash is on a so-called offline wallet. If the cryptographic keys are not connected to the Internet, they are also reliably protected against unauthorized access by hackers. For this purpose, either special hardware can be purchased, on which the keys can be stored, or a paper wallet can also be created. Various programs and instructions online are available for this. In principle, it is also possible to write down the cryptographic key by hand on paper.
Payment methods: How can I pay when buying Bitcoin Cash?
Which payment method can be used when buying Bitcoin Cash depends on the respective provider. While some platforms offer a large selection, others only have one or two payment methods available.
We present the most common payment methods below:
Payment by bank transfer is often offered. The disadvantage of this method is that it can take a few days for the transferred amount to reach the recipient. Therefore, when buying directly, the price that is current at the time the money is received is often used. But how can you buy Bitcoin Cash and also use the current exchange rate with the bank transfer? For this purpose, a credit must be paid into the customer account at the respective crypto exchange in advance. As soon as this has been credited, it can be used for immediate trading.
With the Sofortüberweisung, the processing time is bypassed by the payment service provider checking whether the current account of the customer has the necessary coverage for the payment. If this is the case, the recipient is confirmed that the transfer will be carried out and that he will receive his money safely. In return, the purchased coins can be credited immediately.
The credit card payment is possible with more and more providers. With this method, buyers can receive their coins immediately.
Immediate payment is also possible via so-called "electronic wallets". The most common providers are Skrill and Neteller, but PayPal can now also be used to pay on some platforms.
With the prepaid card, credit can be deposited using a code and be used. Paysafecards are available at petrol stations and in retail stores, but so far, unfortunately, only a few providers can use them for payment.
Deposits can be made with Bitcoin relatively often. There are also crypto exchanges where Bitcoin is the only means of payment. In this case, users must first purchase Bitcoin from another provider if they do not already have this cryptocurrency.
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Bitcoin Cash or other cryptocurrencies? - Which coin has potential?
Again and again we are asked which cryptocurrency will prevail in the long term. There is no clear answer to this question, because the market for cryptocurrencies is constantly, which can be seen, among other things, from the fact that there are now over 4,000 different Coins exist.
Even if Bitcoin Cash is the third-strongest cryptocurrency and has proven in the past few months that can compete with Bitcoin, we cannot say how the course will develop over the next few months and years. Therefore investments in cryptocurrencies should always be considered highly speculative. Only capital should be used here that is not needed in the medium or long term. Nevertheless, it can be worth to invest part of its assets in Bitcoin Cash, because it is quite possible that the value of the coins will soon be a multiple of today's purchase price.
Conclusion: Compare providers and find a suitable platform for your individual needs
Our Bitcoin Cash Guide has shown that it is possible for every investor to purchase the cryptocurrency. When choosing a platform or an exchange, it is worthwhile to compare the individual providers well and also include our testimonials. Anyone who has found a reputable provider with low fees can use various payment methods to buy Bitcoin Cash and if necessary Sell.
The purchased coins should always be managed on their own wallet and should not be stored with third-party providers in the long term. Only those who have the cryptographic key for their coins really have full control over them. Wallets have proven to be the safest if is not connected to the Internet, since these cannot be hacked either.